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Components of a Marketing Plan Part 1: Product, Target, Strategy Planning, Positioning, and Brand
  • From Business, Marketing
  • Due on 08 Oct, 2017 12:00:00
  • Asked On 05 Oct, 2017 02:58:43
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*****Identify your target market and what segmentation criteria you use to identify it.

Purpose of Assignment 

Marketing plans help coordinate an organization's departments and activities toward a mutual benefit between the organization and the consumer. Well thought out marketing plans contain both internal and external research aimed at understanding who the customer is, what they want, and any barriers the company may encounter in meeting customer demands. This research and information allows the company to create strong strategies and realistic goals. Part 1 of this two-part learning team assignment is designed to place students in the role of a company marketing team demonstrating to the CEO and Stakeholders why and how their new product/service should be launched. This assignment assesses the company, the target market and product, and identifies potential obstacles a company may face when deciding to launch a new offering will be identified. 

Assignment Steps 

Resources: Marketing: Ch. 1: pg. 4-10; Ch. 2: pg. 40-46 and 54-69; Ch. 3: pg. 72-92; Ch. 11: pg. 292-309; Week 1 video

Scenario: Your team has been chosen by the CEO to lead the development of key marketing strategies for the marketing plan for your company's launch of a new and unique product/service (not already offered). Your marketing team's mission is to prove to the board of directors and investors through research, strategy development, and reasoning, that this product/service is viable and will meet the company's goals. In this first half of the project, you will be reporting to the board and CEO about the target, the product's strengths, a SWOTT (Strengths, Weaknesses, Opportunities, Threats and Trends) analysis, and the brand's position in the competitive environment. 

Create a company name and decide what real business world industry it operates in. 

Create a new and unique (not already offered) product or service the company will be launching. 

Cite a minimum of three peer-reviewed sources. One must come from the course textbook or videos and one from the University Library.  

Format your paper consistent with APA guidelines. 

Do not use a running head - one point penalty for using a running head.

Use a serif font (Georgia or Times New Roman); with at least 1.5x line spacing.  2.0x spacing is preferred.

Do not exceed the word count 175 words.

Identify your target market and what segmentation criteria you use to identify it.

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Components of a Marketing Plan Part 1: Product, Target, Strategy Planning, Positioning, and Brand
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