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Throughout this course you will compile a comprehensive marketing plan using one of the product scenarios below (note you will use the same scenario throughout the course).
Marketing Plan
Throughout this course you will compile a comprehensive marketing plan using one of the product scenarios below (note you will use the same scenario throughout the course). The company that you choose to submit a marketing plan for is a fictional start-up company based upon the scenarios provided. Submissions will be completed in units II, IV, VI, and VIII which together will comprise a full marketing plan. The general overview is as follows:
Unit II: Company Overview and Market Research Overview of Company Market Research Strategies Analyzing Macro-environment-PEST Analysis
MBA 5501, Advanced Marketing 4
Unit IV: Situation Analysis Segmentation & Target Market Analysis Competitive Analysis SWOT Analysis
Unit VI: Marketing Strategy Product Strategies Place Strategies Pricing Strategies Promotional Strategies
Unit VIII: Marketing Metrics Marketing Metrics Overview Application to Fictional Company
Scenarios to choose from (remember that you will select one and use it for all four submissions):
1. Caninantics is a start-up company that has created a new dog food dispensing product that will open canned dog food, dump the food into the dog bowl, and dispense the can. The company wants to start marketing this product and subsequently branch into other canine accessories by the end of this year.
2. Twilight, a start-up company, has contemplated an opportunity with the Baby Boomer generation entering the retirement stage of their lives. As this generation has paved the way for many new businesses over the years, Twilight believes there is yet another opportunity to serve this generation. The service would be a consulting service providing information for active seniors, 55-plus, partial assistance, and full care. This service would involve not only housing but also a host of information related to enjoying this period of their lives. Twilight would like to build a profitable business model that is able to serve these customers.
3. IT Today is a start-up company that is interested in providing technological assistance to the average consumer that is interested in all the newest technological gadgets (smartphone, tablet, laptops, printers) but does not necessarily have the time or background to maintain their operation. IT Today would like to provide 24/7 technological assistance as well as assistance in networking. The company goal is to put together this business with the end result of a profitable business model.
4. Athletics Supreme is a company that has been in business about 10 years selling a variety of athletic equipment. They have observed the growing interest in sportswear and would like to expand their product offering to include a line of sportswear and possibly other related lines. Their goal is to provide their customers with “one-stop” shopping opportunities, maintain their brand identity, and still maintain a profit.
5. Arimount is a well-known beauty and grooming company that has been in the industry for about 20 years. They would like to launch a new deodorant product. The company’s development and research department has created a new chemical that will allow deodorants to work for up to five days—even after showering. The company is interested in increasing their overall market share with the introduction of this innovative product.
6. Travel Today, a well-known travel agency that has been serving customers for 25 years, has experienced a slow- down of business over the last five years. They are of the belief that the internet has enabled customers to plan and book their own vacations. Their business development department has begun researching possible alternative new product/service offerings with the idea of re-capturing some of their lost customers.
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Unit II Scholarly Activity
Marketing Plan: Company Overview and Market Research
Overview of Company Market Research Strategies Analyzing Macro-environment-PEST Analysis
In this section of the Marketing Plan, you will introduce the fictional company you have selected/created, allowing the reader to understand the company, product/service, and any other pertinent details. Marketing plans are compiled by companies that have incorporated a solid marketing research strategy in order to better understand the industry, competition, and customer. Explain the research strategies that will be used by your company. Finally, analyze the macro environment using a PEST analysis. This will lead to a better understanding of how changes in the political/legal, economic, socio-cultural, and technological environment will affect your company.
Your APA formatted assignment should be a minimum of three (3) pages in length (not including the title and references pages). Be sure to use the subheadings as given above. Because this assignment is a comprehensive plan, additional research and support should be included. You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old.
Information about accessing the Blackboard Grading Rubric for this assignment is provided below.
Unit IV Scholarly Activity
Marketing Plan: Situation Analysis
Segmentation & Target Market Analysis Competitive Analysis SWOT Analysis
This section will begin with an application of segmentation of the market of your fictional company. Think about behavioral, psychographic, demographic, and geographic criteria that might help you in segmenting the market. Once you have completed the segmentation, identify the target market that your company will focus on including your rationale. It’s important for the marketing manager to understand the competitive environment within the industry in which they operate. Compile a detailed competitive analysis looking at the top three or four competitors and differentiating each against your company. Finally, assemble and thoroughly explain a SWOT Analysis with a minimum of three elements under each area.
Your APA formatted assignment should be a minimum of three (3) pages in length (not including the title and references pages). Be sure to use the subheadings as given above. Because this assignment is a comprehensive plan, additional research and support should be included. You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old.
Information about accessing the Blackboard Grading Rubric for this assignment is provided below.
Unit VI Scholarly Activity
Marketing Plan: Marketing Strategy
Product Strategies Place Strategies Pricing Strategies Promotional Strategies
This section of the Marketing Plan will assess the marketing strategies or the controllables to include the entire marketing mix (4 P’s). Think about the most effective strategies to use with an eye on the target market. Include your rationale and research to support your position. Additionally, you will include a discussion of whether the fictional company has a competitive advantage (or is better than its competitors) with respect to each area. Note: You will discuss competitive advantage four times and should be discussing each area separately.
Product Strategies Explain the product characteristics including the product and/or service qualities, warranties, service contracts, packaging, and branding opportunities. Include rationale.
MBA 5501, Advanced Marketing 6
Discuss whether the company has a competitive advantage with respect to product.
Place Strategies Explain the entire channel of distribution from the manufacturer to the consumer. Think about how the channel aligns with the overall logistics and the location of the physical facility. Include rationale. Discuss whether the company has a competitive advantage with respect to place.
Pricing Strategies Explain the pricing strategies and tactics to be used by your company. Research the various combinations of strategies that could be used by the company at different times. Include rationale. Discuss whether the company has a competitive advantage with respect to pricing.
Promotional Strategies Explain the promotional mix to be used, thinking about personal selling, advertising, sales promotion, internet marketing, and publicity. Think about promotional mediums as well. Include rationale. Discuss whether the company has a competitive advantage with respect to promotion.
Your APA formatted assignment should be a minimum of four (4) pages in length (not including the title and references pages), allowing for you to adequately discuss all four areas of the marketing mix. Be sure to use the subheadings as given above. Because this assignment is a comprehensive plan, additional research and support should be included. You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old.
Information about accessing the Blackboard Grading Rubric for this assignment is provided below.
Unit VIII Scholarly Activity
Marketing Plan: Marketing Metrics
Marketing Metrics Overview Application to Fictional Company
This section of the marketing plan will review the concept of marketing metrics with the application of five metrics to the company marketing plan. Using the Marketing Metrics chart-Table 22.9 located on page 642 of the textbook, select one metric in each of the five marketing metric categories (5 total). For each metric identified, provide a description of the metric, demonstration of how it will be calculated and finally, how it will be used in your company. Include specific, measurable goals within your metric. Include research beyond the textbook to fulfill these requirements.
Your APA formatted assignment should be a minimum of three (3) pages in length (not including the title and references pages). Be sure to use the subheadings as given above. Because this assignment is a comprehensive plan, additional research and support should be included. You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old.
Information about accessing the Blackboard Grading Rubric for this assignment is provided below
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**** ** segmented ***** on *** ****** levels ***** **** ******* high ****** ***** ****** ****** middle income and *** **************** ************* market **** IncomeHigh ****** markets **** target *** ************* ***** ******* ** ********** ********** market ******** ** *** ************ *** *** upper ***** ******* in *** society *** **** ** ********* ********* These ******* of ****** ****** ****** ******* **** wear ** *** expense ** ******** their buying ******** ** ***** on quality and *** ********** *********** the ******** There **** this ******* ** *** market quality **** ** ****** ********** ** ****** *********** ****** ********** ****** ******** ** *** ***** ****** ****** ********* who are ****** ******** ** well ** ************ ***** Due ** their ********** ****** ***** ********* **** ** ******* *** quality ** **** since ***** disposable ****** is ******* *** ************* spending for **** ****** **** **** ** ***** ** high ****** brands *** **** be **** ********* ** *** ***** as ******* ** ***************** IncomeMiddle-income ********* ** *** ******** ******* of *** ******* ******* who **** ******* ** *** ******** ** order ** keep ** **** *** trends **** **** want ** ***** ***** status level **** *** price sensitive and therefore **** *** ****** ****** ******* the *********** brands ***** ********* *** ****** consumers **** ** ******* *** ******** at *** ****** *** *** income earner **** not ** ********* **** *** ***** ***** *** the ******** experience The low ****** ******* will ******** *** ******** *** **** ** ****** ********* to *** ********************* *********** ******** ******* competitive rivalry ** *** ******** is * *** ***** **** *** ********* ** ******* curtailing growth *** *********** ******** *** *** company ********* the *********** Competitive rivalry ****** the *************** to ****** The ********** power ** *** ************* ** ******** ****** of *** ********* *** to ******** ********** ***** ** *** *************** ****** ** ********** ************ to medium Competitive ******* ****** *** industry- ******* *********** **** *** established *** the ******** ****** can ******** the ****** and *** ****** ***** ** ******** supreme *** sport **** market ** characterized ** ******* *********** from various firms which ******** ****** **** ** *********** **** *** ***** among ****** In ******** the ********** and ******** ****** ** ******* ** ******* ******* in *** ************ *********** *** **** ********** ********* ** Athletics ******* **** ** ****** ** ***** ** ***** ******* ******* ** may suffer ****** ** the ****** shareBargaining power ** *** ****************** ***** ****** ** ******* ***** ****** ***** to ******* **** ** ******* *********** *** ******** ****** *** product *********** Through ****** ** with a ****** band image *** *** ********** ********* Supreme *** ** **** ** ******** *** ***** ** *** buyers to ** ********* ** *** ******************* ******* resources *** ****** ** ****** * new ***** since ***** *********** *** ****** ***** *********** ***** of *** ***** However ***** is ****** **** *** e- ******** ***** *** **** **** ***** sportswear ******* *** ******** *** to *** ******** ** ***** ** *** ****************** ***** ** ************** should ** no single supplier to **** *********** bargaining powerThreat ** ********** ************* *** *********** ******** ***** represent *** ******* threat ** **** **** The ********* ****** ** ******** to **** in *** future ***** the ********* ****** substitute *** ********** ******** ******* ***** ** *** threat ** *********** products **** Athletics Supreme *** ** ******* ** **** ***** threaten the ***** of *** *********** ********** and potentially ****** *** ***** of Athletics *********** ***************** * Exclusive sportswear2 **** ****** ***** located ** *** ***** ***** **** concentrated ************ Excellent ******** ******** ***** loyalty ** ******* **** among the ******** ************** Equity ** **** due ** ***** ******** ** the ****** ************* quality ** ** ****************** ***** ** the ********* ** ******* **** ****** like **** *** Puma ** ***** because ** **** ****** ***** ******************** ******* ******** Markets *** **** ********** ** ******* A ******* ***** ****** *** ********* ***** & ******** The *********** ** ***** ** ******* ************ groups in *** ** **** *** *** ****** marketing efforts4 ********* ******** to the ******** ******* even ************ might ** ***** ******** ******** during *** lucrative seasons ********** *** ******** *** ***** **** Opportunity ** ******** *** ****** ******** ******* store ****** ** *** rural ******* where the ******** ** ************* Various ******** ********* ***** **** ********** ***** *** ********* to the ****** **** ******* ********* like ****** Puma *** ********** is *********** from various ****** **** ** the **** *** ** ****** **** *** ***** competitors3 ***** **** ***** *** drive **** *** ****** ******** Various ******** ******* **** ** ** *** ********** taxes *** **** ********* *** ******* ** absorbing ******* ***** ********* *** ** ******* ***** *** the ******** competitors6 ******* ******** ******** therefore ********* the core *********** **************** strategyProduct ***************** **** ***** sportswear ********* *** ******** *** ******* *** ******* athletic ***** The ******* will ***** * **** ***** ** the ****** apparel *** *********** *** men ***** *** children *** productsassortments will **** ** ******* ******* *** ******* ** ******** ******** ******* will be ********* in ensuring **** the ********** ** ********** *** **** **** ******** to ******* *** ************ ********** **** **** ** ******* colors *** ****** **** will ** ****** ************** *** branded ** meet *** consumer’s needs *** ***** **** ** the sportswear **** ** ******* *** *** sportswear **** ** ******** ******** ** meet *** various ********* needsThe ******* **** **** * *********** ********* due to *********** branding **** **** ******* ******* the ******** ********** ** ******** *** ***** **** which ** Supreme **** **** ******* *** *********** ********* this ** ******* ** *** ***** ** *** ********* *** ***** **** ** associated with ***** *********** greatness *** excellence Besides *** ***** name ** memorable ** *** ***** ** *** ********* which will ******* *** ************ ** *** ***** of the consumersPromotional ************* ********* will ** ******* finding accessible store locations There will **** be ********** *********** ** *** ******** ********* ********* ******* **** **** ******* the sportswear brands ******* various ****** ******** *** will serve as *** *********** *** *** ********** ****** The *********** *** ** **** ******** ******* sportswear ****** various international ****** **** ** *** ******** This **** ******* **** in ********* *** ****** ** the ******* and hence create * competitive ********* for *** companyAlso *** company will ** able ** ******* *** ********* ** their brands ******* *** sponsoring ** various ******** ****** **** will ** ***** at promoting ***** ******************** will *** as ** *********** ********* ******** that **** help ** promoting *** brand ********* *** hence ****** **** ***** *** ***** ********** company **** **** make *** ** ***** ********** ***** ********* strategies ********* *********** *** ***** official website ********** commercials will **** to ******* *** ***** *** hence ******** *** ******** ******* will ******* ****** ** other ********* strategies including ********* displays that feature ******* ******** ******* *** sportswearin addition ***** **** ** coupons ******** along with various ********** ** * **** ** ********* *** sportswear including *** *************** ******* will ** ******** ** *** ** ** ** be competitive ** ***** ********** ** *** ****** *** ******* ******** ** ********* ******* will be ***** on *** ******** *** each ****** ********* *** prices of the ********** will ** ************** ***** on *** ****** ********* whereby there **** be ********* ****** *** *** **** ****** ******* *** *** low ****** earners **** **** ****** **** each ** the ********* ** adequately satisfied **** the **************** Supremes’ ******* ******** **** make use vertical *********** in *** ******* ******* they will take **** ** **** than *** ******* ** operations **** will control the ***** *** also influence *** ******* ********** ********* ********* that ********* ******* *** with *** ********* **** **** ** ********* ** ***** **** This **** ********* **** *** ******* **** * competitive ********* ******* ******** theaffordability ** *** ********** ** the *********** ******** it **** *** ******* ** ***** price ********* to *** customers which will ******* ******** the competitive ******** ** *** company ** ******** to the **************** ***************** *********** ********** **** be by multi brand ****** *** *** ********* ********* ****** ****** *** globe ********* Supreme **** **** *** ********** through many ****** outlets ** many ********* ** the ***** In *** ************* ******* the ******* **** **** *** ********** through ******* independent distributors subsidiaries *** even licensees *** ******* *** production ********** in other ********* customer ******* and other *********** ********** worldwide Therefore the ************ channel will be **** *** ********** facilities to *** ******* independent ************ ************ *** ********* *** *************** subsidiaries *** licensees’ **** ** **** be **** ** sell *** ********** to *** ***** customersThis **** ****** that *** ****** ***** *** ****** **** ********* *** ********** ** ******* ********* ** *** ********** **** *********** advantage ** the ********* ******** ******* ****** ****** **** **** ****** that *** ********** will ****** be ********* to ********* ******** **** **** them ******** they need them **** ** because ************* ** ** ********* ****** ** ensuring **** ***** *** ********** sales **** will **** ********** to ***** ******* and ********* of *** customers Marketing metricsCost ** customer *************** **** ***** *** ****** cost ** ******* * customer **** * ***** **** ******* by *** ****** ** customers ******** ** **** ***** **** ** ********* ******* *** cost of ******** acquisition ** *** first year **** ** given by; *** cost **** ** ********* *** customers in that **** ie *** ********* **** ******* ** *** ****** ** customers ******** within *** **** ********** is *** total ***** *** *** marketing **** which ******** *** *** ******* and advertising cost plus *** ******** ********** **** marketing *** *********** the ******* and *** over ********* in * **** ****** *** ***** **** ** divided by *** ***** number ** *** *** ********* in that **** period The ****** could be * ***** ******* *** **** a ******** ****** will ** ********* ** *** company in ********** *** ************* ** *** ***** that **** **** deployed ** *** acquisition ** *** customers ** the metric is *** **** ** **** ******** **** *** ***** **** **** ******** ** **** *** ******** ***** ** ********* *** *** ********* ******** ** **** ****** ***** **** **** could mean that *** ******* is ******** ** **** on *** ***************** ********* ********* ** * *********** ******* that will be ********** ** *** ********* number of ************* **** ******************* ****** ** customers ** *** ***** ****** *** example ** *** ******* ****** ***** **** 100 ********* *** loses ** ** the ********* *** ******** retention rate **** ** ***** ** ******************* ****** **** be ********* ** *** ************ ** ***** to **** ****** the ******* ** the ********* ** *** ***** Further *** ****** will **** ** ******* *** the organization ** **** ** ****** as well ******* *** existing ********* *** increase *** **** ******* ** ***** to ***** *** sales ***** *** over ***** *** ****** **** ** aimed ** ********* ** ** whether the ******** *** *** ******** **** be able ** *** as *** ***** ambassadorsCustomer lifetime ***** ********* metric ******** *** ******** ********* ** the ********* to *** ***** ********** with ********* *** ********* This metric **** ** **** ** the organization to ******* to examine *** ********* ***** **** *** ********* will ***** ** into *** organization The **** *** metric the ****** *** value **** *** ********* *** ******** into the organization-Athletic Supreme will *** ******* achieving * **** ******** ******** ***** ******* **** **** ratio may *** ** **** ****** ** it may indicate **** he ******* ** *********** ****** through ***** ******** and ****** **** **** *** the ********************** Originated ******** ***** ***** **** **** the ********** ** *** *** ******** ****** by *********** ***** ** ******* it; ** **** ******* ****** the ****** *** ******** **** **** ** ******** by ********* ******* ******* ** the ****** ********* the ********** and look ** **** ********** of **** started with a lead **** ********* generated This will ** ********** ****** with * *********** ********* analytics ****** This ****** will ** **** ** ******** show *** proportion of the ******* ******** *********** ********** ** *********** ** ***** ****** **** ***** would lead *** to believe Marketing Influenced ******** * **** ** almost ******* ** the ********* Originated ******** * however it will add ** *** the new customers wherever ********* ******* as **** as ******** *** **** ** any ***** in *** sales ************** ** originating the **** *** ******* ** the ******* host ****** and *** ********* *** ********** by *** ** *** ********* ******* *** ***** *** new ********* who will ** ********** ** marketing *** percentage **** ** ********* higher **** the ********** ********** *** ****** be ******* *** *** 90%ReferencesJain S C ****** ********* planning *** strategy ********** South-Western ********** Company ************* * * & ****** * ****** ********* marketing (Vol ** New York: ********************** * (1998) Information policy: ********* ******** libraries: A ********* **** *** ******* ** ******** ************* 24(4) **************** * A ****** *** ******** of ********* management: ******** planning *** ************** Macmillan College Guiltinan J * **** G * & Madden * * ****** ********* *********** ********** *** ******** ************************* * * ***** ****** * * ****** *** ********* ******** ******** ********** problems ******** ** analytical ********** ** ********** marketing **** *********** ******* ** ******** ******** ***** *********************
