answer the questions on the file call Milestone questions

Applied Marketing Strategies

Project Project Overview

On this page, you’ll review the steps to create the marketing plan components for your course project.

2 Target Markets / Page 2.13 Project: Project Overview On this page: 8 of 8 attempted (100%) | 8 of 8 correct (100%) Objective: Review the scenario for your course project and the steps you’ll take to create it.

Now that you’ve been introduced to the 4 Ps of marketing and considered how to build a customer persona for a target market, you are ready to put this information into practice by working on your MKT 205 course project.

Review the Project Scenario

Throughout this course, you will create a marketing plan components document as your course project. This project will give you an opportunity to apply the marketing concepts you are learning in each module and will be completed over several weeks. The scenario below provides important background information for the marketing plan components you will develop.

MULTIPLE-CHOICE QUESTION

Review the following scenario to learn important background information for your project.

Project Scenario

NOTIFICATIONS

What will you create for your course project?

Correct. You will create a marketing plan components document as your course project.

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a marketing plan components document

a television commercial for a new product

a new version of a psychographic survey

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Chocolate Bliss started as a small family-owned store in Seattle, Washington, in 1976. While once a boutique chocolatier selling handmade “secret family recipe” chocolate bonbons, the company today has a wider variety of product offerings, including boxed chocolate candies, chocolate baking products, and carob (chocolate alternative) candies and health bars. Chocolate Bliss products are sold online and in their stores to consumers and other businesses, specifically grocery stores, throughout the Northwest.

The company has maintained its “secret family recipe” brand, even as it has expanded its product offerings, and today enjoys strong brand awareness in the states where it is sold.

The company’s primary competitors are:

• Ghirardelli Chocolate Company: Chocolate Bliss’s higher-price-range baking products, sold to grocery stores, compete directly with Ghirardelli. Chocolate Bliss also competes with Ghirardelli for its boxed chocolate candies sold in their stores and online to consumers, and sold to grocery stores.

• Nestlé: Chocolate Bliss’s mid-price-range baking products, sold to grocery stores, compete directly with Nestlé. • Rise Bar: Chocolate Bliss competes with Rise Bar for its carob (chocolate alternative) products sold in their stores and online to consumers, and

sold to grocery stores.

Chocolate Bliss is financially healthy and has plans to expand into the Midwestern United States. This expansion will include the launch of a new product.

You have been with the company for a few years and have been selected to be on the team that will develop a marketing plan for the new product launch. The executives at Chocolate Bliss will use the marketing plan to make decisions about how to best use the marketing budget to ensure a successful product launch, so you need to have sound research and reasoning to support your work that will contribute to developing a marketing plan. You also realize that the marketing plan is not just about a successful product launch; it is about building the Chocolate Bliss brand and positioning the company strongly against its competitors, especially when it comes to price point.

MULTIPLE-CHOICE QUESTION

According to the project scenario, what are you asked to do?

Correct. For your project, you will apply the knowledge you have gained to help develop the

marketing plan for Chocolate Bliss’s new product.

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create a marketing campaign for a new company

contribute to the marketing plan of a new product

develop a concept for a new type of product

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How You Will Create Your Project

Review the steps you will use to create your course project.

You will create your course project by completing three milestones that come together as a marketing plan components document in Module Seven. Each milestone is one step in the course project. The milestones are all related—they will move you from selecting a product and creating a persona to considering each of the 4 Ps and explaining how to evaluate the effectiveness of a marketing plan.

You’ll use interactive writing templates in the webtext to complete a worksheet for each milestone, which you will download and submit to your instructor in Brightspace. It’s important to review any feedback from your instructor on these milestone worksheets so that you can make revisions for your final marketing plan components document.

Complete Each Milestone Worksheet

The course project is broken down into three milestone worksheets that are combined into the final marketing plan components document.

• Module Two Milestone Worksheet: For this milestone, you will select the product you would like to market and conduct research to develop a persona for your target market. The product you select and persona you develop for this milestone will guide your decisions on the remaining marketing plan components for the project.

• Module Four Milestone Worksheet: In this milestone, you will focus on the marketing components of Promotion and Price. Using the writing templates in Chapter 3 of the webtext, you will recommend two marketing communication channels for your product that will be effective in reaching the persona you defined for your target market. In Chapter 4, you will explain how to determine a company’s pricing approach and identify an appropriate pricing strategy for your product.

• Module Five Milestone Worksheet: This milestone focuses on Place. After identifying a recent change in the marketplace that has influenced the distribution of products, you will recommend one potential distribution channel and explain why it is appropriate for your product and the persona that represents your target market.

• Module Seven Final Marketing Plan Components Document: Your final document will include the work you’ve done on all of the milestones, plus two additional components. In Chapter 6, you will focus on Product by determining the features and benefits your product can offer your persona. You’ll also describe how to market your product and how it will benefit the Chocolate Bliss brand. In Chapter 7, for the final component, you will evaluate the effectiveness of your team’s marketing plan by selecting two quantitative and two qualitative evaluation methods.

Answer the following questions to check your understanding of the components of your course project.

5 MULTIPLE-CHOICE QUESTIONS

What aspect of your project will you work on to complete the Module Two Milestone?

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Use Writing Templates in the Webtext

You’ll be using writing templates built right into the webtext to complete your milestone worksheets and draft the marketing plan components document for your course project. Not only will these templates give you a chance to apply what you are learning, they’ll also help you create a project that is organized and formatted appropriately. If you need help with the writing templates, you can contact Soomo Support by clicking the Soomo Messenger button in the bottom right corner of your screen.

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Correct. To complete the Module Two Milestone, you will select a product and conduct target

market research to develop a persona.

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researching different kinds of products that the company can market

developing several types of personas to market your product to

selecting a product and conducting target market research to develop a persona

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YouTube video. https://youtu.be/p8sNLtBW_IY. Uploaded August 10, 2016, by AboutSoomo. To activate captions, first click the play button and then click the CC button in the embedded player. For a text transcript, follow the link below.

Read Text Transcript

MULTIPLE-CHOICE QUESTION

How will you complete the marketing plan components document for your course project?

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Now that you have a better understanding of what you need to do for your project, you’re ready to get started! On the next page, you’ll select your product and conduct research on your target market.

close

Correct. You will use writing templates in the webtext to complete your project, which is due

in Module Seven.

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by using writing templates to draft each part of the project in the webtext

by preparing and delivering a presentation on your product and marketing plan

by using Microsoft Word or Google Docs to type each part of the project

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