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GB530: Marketing Management




Question;GB530;Marketing ManagemenUnit 6 Final Project;1.0 Executive Summary;In 4-6 paragraphs, summarize your Brand Extension Marketing;Plan. Be sure to include;ProductBenefitsTarget;marketCustomer;needsValue;propositionHow;you would market on a national and global levelShow;an understanding of other cultures, global relationships, and global;dynamics in the marketplace;Go back through each section of your plan and make any;appropriate revisions, based on the feedback of your professor during each;section grading and/or based upon new information you?ve discovered throughout;the process.;GB530 Brand Extension Marketing Plan:Guide;Introduction;Use this document as your guide to success.All Brand;Extension Marketing Plan documents should use 1? margins, 12 pt. font, and include;a cover page and a reference page.;For the Brand Extension Marketing Plan assignments in this;class you will not use the usual APA rules which require in-text citations as 1) no;marketing plan ever uses direct quoting within its contents, 2) we are making;an exception due to the nature of a marketing plan assignment and 3) you will notuse double-spacing but;instead you will use this document?s;formatting.;It;is important that you write your Brand Extension Marketing Plan in third;person (there is no ?I? in a marketing plan), using your own words, and/or;paraphrasing instead of direct quoting.;Once deposited into the Drop box for grading, Brand Extension Marketing;Plan assignments are submitted to Turnitin for a potential plagiarism review;so it continues to be important for you never to use anyone else?s words;verbatim.;For;each of the Brand Extension Marketing Plan assignments, you should list, on the;reference page, all of the references you used when preparing your plan. Again;you do not need to include the in-text parentheses noting references and;timeframes as normally required in our APA assignments, but you do need to use;APA to format your references list.If you have any questions on this exception;to using APA, let me know.;All the components of the Marketing;Plan are assessed using the following;Subject Mastery;Rubric: Knowledge (Can define major ideas) or Comprehension (Can;discuss major ideas) or Application (Can apply major concepts to new;situations).;A MARKETING PLAN IS THE FOUNDATION FOR ALL;MARKETING EFFORTS;Beginning your Brand;Extension Marketing Plan:The Product Proposal;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.;As;you begin yourproject, you need to first;assume you have the role of a marketing manager for one,new, currently not;available from your selected Brand Company, product on the behalf of a real, for-profit organization. Consider;this a ?brand extension?: you are adding a product to an existing company?s;product line.;Think;about your selection ? the proposal is for a New Product for a New Market of consumers! Extend the Brand Name into;new product markets by offering a ?new to the company? product.;Companies;may do this by buying an existing product, or importing a new product and;putting their brand name on it ? or they develop their own product to compete;in the new market.;Unit 1 BEMP Proposal- What will your;project be about?;Submit your response to the following;questions as a Product Proposal;?;What is the brand name of your for-profit;business/organization?;?;What is the;new product, not currently in existence, that will generate revenue for which;you will prepare a marketing plan and strategy during this class? Give the;product a name and briefly describe it.;?;Look up;?brand extension? in your Kotler text and describe whether your product is;considered a line or a category extension.;?;How will you acquire;information to prepare your marketing plan during this class?What research will;you undertake? Be specific.;?;Will your;new product be marketed domestically or globally? Why?;?;Describe the key customer market (who are you targeting?);1.0 Executive Summary;Is to be completed after;all other sections have been completed and edited for Unit 6 ? see end of this template;for what you will complete in Unit 6.;Unit 2 Identifying and Assessing Marketing;Opportunities;(You can find a sample marketing plan in your;Kotler textbook in Chapter 2);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 one to two 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 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(refer to;your Kotler text to make certain you understand these terms);?;What;are the benefits that are important to your customer base? What needs do they;have?;?;Include;both customer needs and the customer value assessment.;2.1.3 Market Trends;?;Identify;andexplain 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: 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 to your Kotler text for a thorough;explanation of a SWOT analysis);2.2.1 Strengths? list and describe at leastthree 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.;2.5 Keys to Success;?;List and;describeat 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.;Unit 3 Marketing Plan;Connecting with the Customer;3.0 MARKETING STRATEGY;3.1 Mission;?;Establish the fundamental goals;for the quality of your business/product offering and customer satisfaction.;?;Define your business/product;offering.;?;What are your fundamental;goals?(Fundamental goals are those that you would like to achieve with your new;product, either as an individual product or as part of the overall company;mission.These are directional goals that provide the overall strategic;direction for management planning.);?;State the value proposition. Be;sure to look up this term in your Kotler text if you don?t fully understand;it.;3.2 Marketing Objectives;Include a sentence or two;about each of the following;?;What are your specific marketing;objectives?;?;Market share: what is your growth;objective by quarter?;?;Market penetration: how do you plan;to gain a share in this market?;?;Awareness: how do you plan to;gain awareness for your product?;?;Customer acquisition: how do you;plan to grow your customer base?;?;Identify a specific, measurable;market share and size.;Remember that your;objectives need to be quantifiable.In other words, objectives need to have a;base point, end point, and time frame so you can research to see if you have;reached your benchmarks or if your plan needs adjustment.;3.3 Financial Objectives: Skip this;section for now.You will do this later.;3.4 Target Markets(refer;to your Kotler text to make sure you fully understand what is meant by target;market segments);?;Identify the specific target;market segments you have defined.What are the market niches you hope to;capture?Describe.;?;Include the rationale behind;why these are the optimal target marketing segments.Be specific.;Unit 4 Marketing Plan - Developing Strong;Brands;3.5Positioning (refer to your Kotler text for definition of terms in this;section);?;Describe how;your product/service meets the need(s) of your target market segments.;?;Describe how;you are different from your key competition.What is the most distinguishing;feature of your new product?;3.6Strategies:Skip;this Section.;3.7Marketing Mix;Product;?;What;makes your product different from the competition?;?;What;gives your product more value than the competition?;Price;?;How;will you determine what price to charge for your product?;?;How;will go determine what your product is worth?;?;How;will your pricing strategy set you apart from your competition?;Place;?;How;do you plan to distribute your product? Do you have;alternative delivery methods in mind?If so, describe in detail.;?;Will you take responsibility for;distribution, or will you reply on an outside firm? How will you decide?;Promotion;?;What kind of promotional tools will you;use?Describe in detail.;?;How will you determine what promotional;tactics will work best?;?;With a limited promotional budget, how do you;plan to gain market share?;?;How will you go about evaluating the results;of your promotional campaign?;3.8 Marketing Research;?;What type(s) of marketing research to you;think will work best to get you the information you need to make informed;decisions?;?;How will you evaluate whether the research is;providing you with the results you need?;?;Will you conduct the research yourself, or;hire an outside firm?Explain why.;Note: Don?t forget that you need research to determine if;you reached your Objectives in 3.2;Unit 5 Marketing Plan - Delivering Value;4.0 FINANCIALS;4.1 Break-even Analysis;?;When you will break-even?;?;Break-even Table/Chart;?;Explanation of the Break-even;Table/Chart;EXAMPLE: 4.1 Break-even Analysis;4.2 Sales Forecast:lst year by month, 2nd;and 3rd years by quarter;4.3 Expense Forecast;List;your expenses for the following items for the next three years;?;Web site;?;Advertising;?;Printed Material;?;Development of retail channel;?;Other (list);5.0 CONTROLS;?;How will you monitor expenses/revenue?;Identify what methods/reports and how often?;?;How will you assess marketing;effectiveness?;?;How will you assess changes in the market;environment?;5.2 Marketing Organization;?;Roles;and Relationships in Your Marketing Functions(who will be responsible and who;will implement this Brand Extension Marketing Plan?);5.3;Contingency Planning;?;Identify risks in this plan strategy.;?;How you will monitor the risks?;?;How you will adapt to adversity and;changes?What options will you have?


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