Discussionno Appropriate Academic Support Mkg 310

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Discussionno Appropriate Academic Support Mkg 310

Duncan, M., & Geesey, J. (2019). Introduction to marketing. Great River Learning.

He has taken off several points off on second assignment with the following comments.

Here are the desired elements:

A description of your new productYES

Complete definitions with appropriate academic support of segmenting, targeting, and positioning YES

Segmentation section, best to name segmentsYES, 

Targeting section with characteristics of target marketYES

Why is target market attractive? YES

Positioning section includes 4P (product, price, promotion, & place) discussionNO

Appropriate academic support throughout paperYES

Two scholarly sources plus textbookYES

Have you demonstrated a strong understanding and application of course concepts?YES

HeadingsYES

Grammar, APA format, etcYES

Please see grading rubric for all detailed requirements below as professor is very much stickler with all the criteria in grading.

Week 5 Midweek Announcement

Hi Folks,

Here is what I will be looking for in your portfolio project:

• A strong analysis of the current situation including organizational goals and organizational weaknesses that can be addresses with the marketing plan.

• Definitions of market segmentation, targeting, and positioning (remember that positioning means using the 4 p’s of price, promotion, product, and place) along with source citations.

• Complete strategies concerning segmentation, targeting, and positioning. Name the segments; be precise with the target market. Under positioning, discuss the pricing strategy (such as EDLP, high/low, etc.) and provide sources. Develop a promotional strategy and provide sources. Be sure to address place (distribution), as well.

• References from academic journals such as the Journal of Marketing that support your views and strategy (you do not need to find articles in your industry).

• A complete and consistent strategy

• Error-free grammar and complete compliance with all APA formatting requirements

***USE Speaking Points section in the PowerPoint rather than using microphone***

Be sure to focus on these points when you complete your Power Point Presentation.

Option #1: Marketing Plan for a Company and Product/Service

Your final project is a marketing plan for the company and product or service of your choice. If you are choosing a large global company, you MUST create a new product.  However, this new product may be an upgrade of an existing product. 

You need to select a company that you have not used for your other assignments in the class. Your plan information should address all areas covered in this course for a marketing plan. The library’s “Locate Company Information (https://csuglobal.libguides.com/c.php?g=792339&p=5682656 (Links to an external site.)) ” guide is a great place to look up company information for this assignment.

Below is the outline to be followed for this assignment:

   

Section

Length

 

Executive Summary. This provides a   busy executive everything he or she needs to know to invest (or not) in your   proposal. It captures your key proposal and recommendations/decision factors   and projected outcomes of the plan’s recommendations.
Note: This is not an introduction to the marketing plan. Typically, the   executive summary is written after the plan has been completed.

1 Slide

 

Company Overview. A brief   description of the company, including its mission statement, background, and competitive   advantages.

1 Slide

 

Situational Analysis. SWOT   analysis—Strengths, Weaknesses, Opportunities, Threats facing the company.   Also include any other external factors that may influence future sales, such   as legal or social activities.

2-3 Slides

 

Objectives/Goals. Briefly describe   your proposal–what’s new and why. What is the opportunity to be addressed or   the problem to be solved?

1 Slide

 

Segmentation and   Targeting Analysis. Define and explain why segmentation is needed. Explain   the approach taken (e.g., the use of demographics) taken, and name market   segments. Define and explain why targeting is needed, and roughly size your   target market.

2-3 Slides

 

Marketing Strategy. Explain and   support your marketing mix component decisions, using the 4 P’s, academic   concepts, and academic reference sources. 

2-3 Slides

 

Branding Strategy. How will the   brand be developed and supported? What will be the “implied   promise” of the brand?

1 Slide

 

Ethical   Considerations. Explain how the proposed plan aligns with the company’s   statement of ethics and corporate social responsibility.

1 Slide

 

Financial Projections. Present a   summary spreadsheet. For example: years 1, 2 and 3 units sold, sales volumes.   Estimate marketing expenses for promotions/advertising. What is the projected   timeline of the product life cycle’s introduction and also growth stage?

2-3 Slides

 

Conclusion

1 Slide

Suggested slide setup and number of slides (25 slides):

  • Title
  • Executive Summary
  • Company Overview
  • Strengths
  • Weaknesses
  • Opportunities (trends)
  • Threats
  • Marketing Plan Objectives
  • Segmentation
  • Target Market
  • Positioning Map
  • Product (features and benefits versus the competition)
  • Price (compared with competition)
  • Price Strategy
  • Promotional Strategy
  • Place Strategy
  • Branding Strategy
  • CSR Strategy
  • Ethics and Corporate Social Responsibility
  • Financial Projections
  • Conclusion
  • References