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Using the same hypothetical company from Assignment 1, for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consum
Using the same hypothetical company from Assignment 1, for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.
Note: You should create and/or make all necessary assumptions needed for the completion of this assignment.
Create the second part of your marketing plan:
- Describe or list the feedback you received on Part A of your marketing plan. Explain how you will use the feedback to improve your plan.
- Develop a branding strategy for your product / service that covers the brand name, logo, slogan, and at least one brand extension.
- Thoroughly analyze the primary and secondary markets that you want to target. Thoroughly include the demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile, professional profile, geographic profile, and any other segmentation variable you deem necessary.
- Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position.
- Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.
- Use at least three academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other similar websites do not qualify as academic resources.