Using the same hypothetical company from Part A: Marketing Plan Input (see Attached) for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.
Create the second part of your marketing plan in 57 pages using the Part B Marketing Plan Template [DOCX]: (See attached)
Explain how you will use the feedback you received on Part A of your marketing plan to improve your plan.
Develop a branding strategy for your product or service that covers the brand name, logo, slogan, and at least one brand extension.
Analyze the primary and secondary markets that you want to target, including the demographic profile (age, gender, ethnicity), psychographic, professional, and geographic profiles.
Prepare a positioning statement that depicts your position using a perceptual map that shows your company’s position against its competitors.
Explain the main reasons why the brand name, logo, slogan, brand extension, and positioning statement are right for the identified target market.
Use at least three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment.
The specific course learning outcome associated with this assignment is:
Develop a branding strategy for a target market based on relevant consumer behavior.
Feedback from Part A
Introduction: You did not provide a pertinent introduction of your hypothetical business or your company is not hypothetical. It is not clear what your product/service is and there is no physical location. The contents of your marketing plan were not introduced.
Mission Statement: This is a good mission statement, but more rationale was needed. Only four of the five questions in a mission statement were addressed. What does the mission statement convey to consumers/customers as well as internal employees and stakeholders -see the purpose of a mission statement, page 21 of textbook.
Goals: Your stated short term and long term goals of either revenue, profit, market share, brand awareness or customer acquisition are SMART goals: S. Specific; M. Measurable; A. Assignable; R. Realistic; T. Time based. Knowing what you plan to accomplish is a solid first step in building your marketing plan. There were, however, no measurements provided for your goals. These measurements are important to help you monitor your progress and adjust as needed.
Environmental Analysis: All the elements of the environmental analysis were addressed and explained. You gathered factual information covering each of the six categories in the environmental analysis. This was thorough and exhibited an understanding of the environmental factors. Remember that environmental factors are outside of your direct control, but each of these factors has influence over your business.
SWOT Analysis: The SWOT and Needs Analyses are on target and show how your company will fare in the market. Your strengths and weaknesses are clearly internal as you can control them. Your opportunities and threats are clearly derived from the environmental analysis and, while you cannot control them, they can have a direct impact on your hypothetical business.
References and Citations: Your paper used three (3) academic, peer reviewed references as quantitative marketing research to determine the feasibility of your product / service. In order to receive most points, you must submit four (4) or more. You showed a clear understanding of academic, peer reviewed references. Most of your APA or SWS formatting for your references is correct.
Overall, I really enjoyed reading your paper. It was written as an academic paper which is appropriate. It was clearly written and very well-organized, which made it very easy to follow your analysis. I look forward to the development of your plan over the next few assignments.
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