Question;Factors Affecting Marketing StrategyGo;to a local store that sells store brands or off-brand consumer;products. Choose any off-brand consumer product that you want to;reposition into a national brand. To qualify as a product for this;assignment, the consumer product should not be currently represented by;an advertising campaign. (A quick Google search, as well as the absence;of ads for the product in your daily life, is one way that you can;verify a product?s lack of an associated major advertising campaign).;For this assignment, you will be creating an advertising campaign to;launch this off-brand product to national prominence. Determine whether;you wish to mimic an existing advertising campaign or whether you wish;to create a completely unique campaign altogether to launch the selected;product.Go to the following pages of the United States? Census;Bureau?s Website and locate information regarding the market segment;that the selected product is geared toward:American Fact Finder: http://factfinder2.census.gov/faces/nav/jsf/pages/searchresults.xhtml?refresh=t2012 National Population Projections: Summary Tables: http://www.census.gov/population/projections/data/national/2012/summarytables.htmlWrite a six to eight (6-8) page paper:Briefly (one  paragraph) describe:whether the product is a low, medium, or high involvement product.the perceived quality signals for the product (e.g.: price, advertising intensity, warranties).whether you are mimicking an existing campaign or building your own and the reason for your choice.Provide;statistical data from the U.S. Census on the size of the market segment;to which the advertisement will be geared toward. Using the summary;tables, determine if this market segment has grown over the past ten;(10) years, and project if it will continue to grow within the next ten;(10) years. Analyze three (3) factors affecting this market segment, as;well as how these factors are changing the segment?s purchasing behavior;for this product.Determine which reference groups influence;this market segment. Strategize which diffusion rate is most appropriate;for this product to move it into national prominence. Determine;diffusion determinants and diffusion inhibitors for this product using;Table 7-3 in Chapter 7. Recommend a diffusion enhancement strategy that;incorporates reference groups for this product.Develop characteristics of the product that you want to promote in your advertising campaign using Table 10-2 in Chapter 10.Determine which dimension best suits the selected product, and build a promotion-focused or prevention-focused campaign.Determine;whether the selected product will have a high or low involvement;learning need. Develop a strategy for consumers to rediscover the;selected product, using Table 9-1 in Chapter 9 as a guide.Map;out the impact of lifestyle on consumer behavior, using Figure 12-2 in;Chapter 12 to assist you. Determine if there will be an increase or;decrease in purchases or consumption. Evaluate how these factors affect;consumption.Evaluate your campaign for the selected product and its effect on problem recognition.Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Paper#46843 | Written in 18-Jul-2015Price : $47