Phyllis young

My chosen company is coca cola i am thinking focus on water produce or cold coffee produce also it could be organic juices

assignment for 5 pages

This milestone establishes your chosen organization’s direction within the marketplace. This is important because it drives the subsequent activities, milestones, and the final project. Without a strong sense of the organization’s purpose within the marketplace, knowledge of consumer trends, and how to meet target market needs at the appropriate price, management is less likely to maximize the efficiency of business activities and more likely to miss fully meeting the needs of its chosen target market. This milestone establishes how the organization will differentiate itself from its competition through branding with a unique product or service offering designed to meet specific consumer needs or desires that are shaped by their demographics, personality, or buying style.

Specifically, the following critical elements must be addressed: Section Two: Branding and Idea Context

Building on your project idea from, write a short paper that addresses the following:

 Corporate mission and how the new product or service aligns with it 

 Defining features of the product(s)/service(s)

o How the product will be marketed internally and externally

o Howthecompanyisdifferentiatingfromcompetition

o Alignment of pricing with market position and corporate mission

 Your substantiated opinion of brand effectiveness Section Three: Defining Product or Service Need

For your idea, continue your paper by addressing the following:

 Behavioral and/or lifestyle demographics of the targeted consumer or buying style of organizational buyer and why they are a good choice

  What unsatisfied need the product/service fulfills

 How the customer/buyer seeks information to fill the need

 How the product is purchased (characterize the buying situation)

 Why your chosen target market is the best choiceContext: Defining Features

Lays out the key defining features of company’s brand and how these features drive business decisions

Section Six: Pricing

Using the idea that you have chosen, finish your paper by covering the following:

 Explain the fixed and variable costs and how these fit with the company’s short- and long-term goals. Use a narrative with a table to show calculations for cost categories. Provide reasonable estimates for each of the categories. Specific or in-depth financial analysis is not necessary.

 Examine competitors’ pricing and explain reasoning for differences.

 Estimate how much you think the target market is willing to pay for your product/service. Is this due to preferences for social responsibility, ethical

behavior, or other intangibles?

 What pricing strategy (skimming, penetration, economy, or premium) is most appropriate and why?

HEADLIDING

Context: Fits

Assesses how new idea fits with company’s existing brand and how that impacts business plan, supported by relevant research and analysis

Context: Effectiveness

Evaluates effectiveness of existing branding efforts, including implications for new product or service, supported by relevant analysis

Need: Target Market: Basic Demographics

Analyzes key demographic features of target market, supported by relevant research

Need: Target Market: Other 

Analyzes other behavioral or psychographic characteristics of target market, supported by relevant research

Need: Want or Need

Analyzes how new product or service meets a specific want or need of target market, supported by relevant market research

Need: Why

Defends choice of target market relative to product success, based on analysis of target market’s characteristics, needs, and wants

Pricing: Pay

Judges how much target market is willing and able to pay for product or service, using target market analysis and research on close competitors’ prices to justify response

Pricing: Preferences

Evaluates whether targeted consumers are willing and able to pay more for product or service if it aligns with their preferences for socially responsible and ethical behavior, justifying response with evidence

Pricing: Strategy

Justifies pricing strategy and price selection for new product or service in light of analysis