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What are your target customer groups? Why?




Unit 2 Assignment Rubric;Brand Extension Marketing Plan;Introduction: The major project in this course is to complete a Brand Extension Marketing Plan for;one new product on the behalf of an existing for-profit organization. Using the Marketing Plan guide;found in Doc Sharing, complete and submit the following components of your Marketing Plan.;Unit 2: Identifying and Assessing Marketing Opportunities;2.0 SITUATION ANALYSIS;Write a one-paragraph summary of the current situation ? write this section after completing the;following sections of the Situation Analysis, but put it in this order.;2.1 Market Summary;(write this section after completing 2.1.1, 2.1.2, 2.1.3, 2.1.4, and 2.2);In a 1-2 paragraph summary, address;? What are your target customer groups? Why?;? What are your projections for the growth of this market?;2.1.1 Market Demographics (refer to Chapter 8 of your Kotler text for helpful;definitions/explanations);? Carefully define the demographic profile of your target market.;? In a similar fashion, define the geographic target area you are choosing.;? What are the behavior factors that will influence your decision-making?;? Define the values and lifestyles (psychographics) of your target market.;2.1.2 Market Needs;? What are the benefits that are important to your customer base?;? What needs to they have and how do you know this?;2.1.3 Market Trends[GB530| Marketing Management];2;? Identify and explain at least three trends that will influence how your customers view your;product ? these should be trends going on in the industry or the environment, these are trends;that your company/product can respond to in some way. Remember: trends are long term;fads are short term.;2.1.4 Market Growth;? Is the market growing, static, diminishing? What are the growth trends?;? What is the evidence? What research are you using to determine market growth?;? How will you address the market if it is growing, static, or diminishing?;2.2 SWOT Analysis (refer back to Chapter 2 of your Kotler text for a thorough explanation of a;SWOT analysis);2.2.1 Strengths ? list and describe at least three positive internal aspects that add value;2.2.2 Weaknesses ? list and describe at least three negative internal aspects that place you at;competitive disadvantage;2.2.3 Opportunities ? list and describe at least three opportunities external to your business that will;lead to your success;2.2.4 Threats ? list and describe at least three threats external to your business that will threaten your;success (e.g., it is common to include unexpected acts of nature, government and regulatory;concerns, and competition in this section of the SWOT);2.3 Competition;? Describe your competition.;? Why will customers prefer your product?;? How will you compete with your competition and win?;? What is the marketing mix (price, place, promotion, product, you know them as ?the 4 P?s of;Marketing?) of at least one of your competitors?;2.4 Product Offering (refer to your Kotler text to make certain you understand these terms);? Product/features/benefits (we particularly care about benefits as these are from the;perspective of the target market);? Describe your Brand Equity Model and say how you will build brand equity for this;product/service. [GB530| Marketing Management];3;2.5 Keys to Success;? List and describe at least three factors that will determine your success.;2.6 Critical Issues;? How will you leverage your SWOT strengths and opportunities to your advantage?;? How will you lessen the impact of your SWOT weaknesses and threats?;? Where is your product in the product life cycle and why? Refer to your Kotler text for a;definition of a product life cycle.;The components of your Brand Extension Marketing Plan for Unit 2 are evaluated using this rubric.;Unit 2 Brand Extension Marketing Plan Assignment Rubric;Criteria Possible;Points;Situation analysis (one-paragraph summary of the current situation) 5;Market summary (target customers, projections for growth) 5;Market Demographics (demographics, geographics, psychographics) 10;Market needs (what benefits are important and what are your customer needs?) 5;Market trends (identify and explain at least three trends) 10;Market growth (describe the growth of the market and provide evidence) 5;SWOT Analysis (strengths, weaknesses, opportunities and threats) 15;Competition (describe competition, describe marketing mix of a main competitor) 10;Product offering (listing of the products you now offer and explanation of how the 10[GB530| Marketing Management];4;new product fits with these);Keys to success (three factors that will determine your success) 5;Critical issues (leveraging SWOT strengths and weaknesses) 5;Writing/style (clarity of expression, s


Paper#30002 | Written in 18-Jul-2015

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