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MKT 337 Final Project Guidelines and Rubric

Overview In this course, you will create a marketing research brief. In a globalized environment, market share is becoming increasingly difficult to capture due to the constant entry of new organizations and associated products/services into such a market. Product launch failures are commonplace in the global market and cost valuable resources, opportunities, and market share. Planning established through the development of a marketing research brief can forecast strategies for avoiding and mitigating such costs and create market share gains. For your marketing research brief, you will assess the internal and external environments of an existing Fortune 500 organization and create a product that you believe your chosen organization would consider launching. You will then utilize your primary and secondary research skills to establish legal, ethical, and industry-aligned strategies for launching the product into the market and present the limitations of the research with your concluding findings, supported by your research strategy. This assessment addresses the following course outcomes:

 Analyze secondary data for potential gaps requiring primary data collection for supporting the strategic direction of marketing research findings

 Assess internal organizational and external environmental factors for their impact on organizational marketing strategy development

 Examine the business environment for its legal and ethical influence on organizational strategy

 Evaluate present industry trends for their implications in supporting the strategic recommendations of the marketing plans Preparation for the final project is divided into two milestones, which will be submitted in Modules Three and Five, to scaffold learning and ensure a quality final submission. The marketing research brief will be submitted in Module Seven.

Prompt The final project of this course provides an opportunity to demonstrate your knowledge through application of marketing research by creating a marketing research brief. First, select an existing Fortune 500 organization from the following list: Procter & Gamble PepsiCo Nike Apple Ford

Once your choice has been approved by the instructor, you will create a product to consider launching as the application subject for the marketing research brief. The marketing research brief will reflect appropriate marketing research terminology, strategies, and methodologies. Use secondary research to develop, outline, and relay the strategy used to develop each section of your marketing research brief. Specifically, the following critical elements must be addressed:

I. Overview A. Introduce your organization, product, and industry you have chosen using a SWOT analysis to address the strengths, weaknesses, opportunities,

and threats through supportive research. B. Describe the initial industry trends that require consideration. Include examples to support why these industry trends require consideration.

II. Marketing Mix Elements---Product, Price, Place, Promotion

A. Explain the potential target demographics of your new product. B. Evaluate the influence of internal and external organizational factors aligned with the present potential target demographic. C. Identify the product need in the market. Include examples to support why the product is needed by the target market in the given market. D. Identify the appropriate pricing strategy for the product in the market. Include examples to support why the pricing strategy chosen is the best

option. E. Determine appropriate placement of the product in the market to ensure effective launch. Think about how the target market might respond. F. Determine the most effective method of promoting the product. Provide examples to support your claims. G. Describe the potential ethical and legal implications of the marketing promotion being recommended. H. Describe how your marketing mix element research aligns with industry trends. Be sure to include product, price, place, and promotion in your

description.

III. Concluding Findings and Limitations A. Describe the internal and external factors that support the organizational objectives. Be sure to think about how marketing research supports

organizational objectives. B. Determine any possible, plausible future trends that may drastically change present findings in relationship to organizational objectives. C. Summarize how the marketing research might be supported by industry trends. Be sure to also think about how the marketing research

supports industry direction. D. Compare how your proposed marketing strategy aligns with legal, ethical, and industry standards. E. Identify the implications for implementing the marketing proposal. Be sure to think about any legal or ethical influences. F. Identify the limitations of the marketing proposal based on available research. Provide examples of the limitations to support your claims.

Milestones Milestone One: Overview In Module Three, you will introduce the organization, product and industry you have chosen and will then, with a SWOT analysis, address the strengths, weaknesses, opportunities, and threats through supportive research. This milestone will be graded with the Milestone One Rubric. Milestone Two: Marketing Mix In Module Five, you will submit a breakdown of your marketing mix for the product you are launching as the application subject for your final marketing research brief. This milestone will be graded with the Milestone Two Rubric. Final Submission: Marketing Research Brief In Module Seven, you will submit your final marketing research brief. It should reflect appropriate marketing research terminology, strategies, and methodologies. It should use secondary research to develop, outline, and relay the strategy used to develop each section of the brief, and it should reflect the incorporation of feedback gained throughout the course. Be sure to present the limitations of the research you have conducted along with the concluding findings supported by your research strategy (Critical Element III in the Prompt above). Information should be presented in a clear, easy-to-follow format that helps the reader understand what you are addressing. Be clear and concise in your responses—the focus here is on quality of response, not quantity. The final marketing research brief should be a complete, polished artifact containing all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.

Final Project Rubric Guidelines for Submission: Your Marketing Research Brief should be 8–10 pages, double-spaced, using 12-point Times New Roman font and APA 6th edition format. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions.

Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value

Overview: SWOT Analysis

Meets “Proficient” criteria and demonstrates insight into how to utilize a SWOT analysis through supportive research to promote opportunities

Introduces organization, product, and industry using a SWOT analysis, supported with research

Introduces organization, product, and industry through SWOT analysis through supportive research, but SWOT analysis lacks detail or research used is misaligned

Does not introduce organization, product, and industry through SWOT analysis

4.8

Overview: Initial Industry Trends

Meets “Proficient” criteria, and details show insight into industry trends encompassing the industry as a whole

Describes the initial industry trends requiring consideration with examples to support claims

Describes the initial industry trends requiring consideration, but either lacks examples or examples are overgeneralized

Does not describe the initial industry trends

8

Marketing Mix Elements: Potential Target Demographic

Meets “Proficient” criteria, and details show insight into the various identifying characteristics of the potential target demographics

Explains potential target demographics of the new product

Explains potential target demographics, but explanation is cursory or lacks detail

Does not explain potential target demographics

4.8

Marketing Mix Elements: Internal and External Organizational

Factors

Meets “Proficient” criteria and demonstrates insight into the relationship between internal and external factors to predict potential misalignment with selected target and organizational goals

Evaluates the influence of internal and external organizational factors aligned with the present potential demographic

Evaluates the influence of internal and external organizational factors aligned with the potential target demographics, but evaluation is cursory or lacks detail

Does not evaluate the influence of internal and external organizational factors aligned with the potential target demographics

4.8

Marketing Mix Elements: Product

Need

Meets “Proficient” criteria and demonstrates insight into the interplay of product need and target market

Identifies the product need in the market with examples to support why the product is needed by the target market

Identifies the product need in the market, but either lacks rationale or examples are overgeneralized

Does not identify the product need in the market

4.8

Marketing Mix Elements: Pricing

Strategy

Meets “Proficient” criteria and demonstrates insight into the relationship between target markets and pricing strategies

Identifies appropriate pricing strategy for the product with examples of why the strategy is the best option

Identifies appropriate pricing strategy for the product, but either lacks examples or examples are cursory

Does not identify appropriate pricing strategy for the product

4.8

Marketing Mix Elements: Placement

of Product

Meets “Proficient” criteria and demonstrates insight into the interplay between product placement and target market

Determines appropriate placement of product in the market, including speculations into how target market might respond

Determines appropriate placement of the product in the market, but lacks speculations into how target market might respond

Does not determine appropriate placement of the product in the market

4.8

Marketing Mix Elements: Promoting

the Product

Meets “Proficient” criteria and demonstrates nuanced understanding into effective product promotion

Determines the most effective method of promoting the product with examples to support claims

Determines the most effective method of promoting the product, but either lacks examples to support claims or examples are overgeneralized

Does not determine the most effective method of promoting the product

4.8

Marketing Mix Elements: Implications

Meets “Proficient” criteria and demonstrates a sophisticated awareness of applicable ethical and legal implications involved recommending a marketing promotion

Describes potential ethical and legal implications of the recommended marketing promotion

Describes potential ethical and legal implications of the recommended marketing promotion, but description is cursory or lacks detail

Does not describe potential ethical and legal implications of the recommended marketing promotion

8

Marketing Mix Elements: Industry

Trends

Meets “Proficient” criteria and demonstrates insight into the interplay between industry trends, marketing strategy, and marketing research

Describes how marketing mix elements research conducted aligns with marketing trends, highlighting product, price, place, and promotion

Describes how marketing mix elements research conducted aligns with marketing trends, but either lacks product, price, place, or promotion or is cursory

Does not describe how marketing mix elements research conducted aligns with marketing trends

8

Concluding Findings and Limitations: Organizational

Objectives

Meets “Proficient” criteria and demonstrates insight into the relationship between internal and external factors, marketing research, and organizational objectives

Describes the internal and external factors, including the marketing research, that support the organizational objectives

Describes the internal and external factors that support the organizational objectives, but either lacks marketing research or is overgeneralized

Does not describe the internal and external factors that support the organizational objectives

4.8

Concluding Findings and Limitations: Future

Trends

Meets “Proficient” criteria and demonstrates deep understanding of the interplay between future trends and changes in organizational objectives

Determines possible, plausible future trends that may drastically change findings in relationship to organizational objectives

Determines possible, plausible future trends that may drastically change findings in relationship to organizational objectives, but determination is cursory or contains inaccuracies

Does not determine possible, plausible future trends that may drastically change findings in relationship to organizational objectives

4.8

Concluding Findings and Limitations:

Marketing Research and Industry Trends

Meets “Proficient” criteria and demonstrates insight into the relationship between marketing research, and industry trends, and industry direction

Summarizes how the marketing research might be supported by industry trends and supports industry direction

Summarizes how the marketing research might be supported by industry trends, but either lacks industry direction or is overgeneralized

Does not summarize how the marketing research might be supported by industry trends

8

Concluding Findings and Limitations:

Marketing Strategy Aligns to Standards

Meets “Proficient” criteria, and details demonstrate insight into the alignment of marketing strategy and legal, ethical, and industry standards

Compares how proposed marketing strategy aligns with legal, ethical, and industry standards

Compares how proposed marketing strategy aligns with legal, ethical, and industry standards, but details are either inaccurate or cursory

Does not compare how proposed marketing strategy aligns with legal, ethical, or industry standards

8

Concluding Findings and Limitations:

Implications

Meets “Proficient” criteria, and details show deep understanding of potential implications when implementing marketing proposals

Identifies the implications for implementing the marketing proposal, including any legal or ethical influences

Identifies the implications for implementing the marketing proposal, but either lacks legal or ethical influences or they are irrelevant

Does not identify the implications for implementing marketing proposal

8

Concluding Findings and Limitations:

Limitations

Meets “Proficient” criteria, and examples demonstrate nuanced understanding of marketing proposals and their limitations

Identifies the limitations of the marketing proposal based on available research with examples to support claims

Identifies the limitations of the marketing proposal based on available research, but either lacks examples or examples are cursory

Does not identify the limitations of the marketing proposal

4.8

Articulation of Response

Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to- read format

Submission has no major errors related to citations, grammar, spelling, syntax, or organization

Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas

Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas

4

Total 100%