Create a comprehensive marketing plan, using one of the product scenarios below. You will choose one scenario, and use it throughout the entire course. Within each unit you will be asked questions, and based on your company (chosen from the list below) and previous decisions you have made, you will add the additional information to your marketing plan. It is highly recommended that you submit each unit?s assignment on a timely basis in order to receive feedback from your instructor. You will need your instructor?s feedback at the end of the course to put your revised components together to create the comprehensive marketing plan. In the business environment, professionalism is very important, so make sure your plan is presented in a way that positively reflects you and the company you work for. Being involved in projects of this nature in the corporate world provides promotional opportunities?a successful completion of this project could earn you the title of Vice President of Marketing. It is suggested that you use Microsoft Word to create your marketing plan, but the style and layout you choose to use is up to you. Be sure the style and layout you choose stays within APA formatting requirements for written reports. Make sure your plan is grammatically correct, addresses the key ideas from each unit, and incorporates all of the required components. Marketing Scenarios: 1. Arimount, a well-known beauty and grooming company wants 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 5 days?even after showering. Arimount has been in the hygiene market for 20 years with an average return on investment. They would like to top the market share with this innovative product. 2. 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 then branch into other canine accessories by the end of the year. 3. Collegiate Fringe is a product developed by a team of girls to show school spirit. The fringe is made in a similar fashion to school spirit shakers and comes in the college?s school colors. It can be worn on the bottom of jeans, on the cuffs of sleeves, around the collar of a shirt, and they even have fringe that can be worn as a skirt. Over the past year they sold the ?fringe? only on campus. They want to expand their market to other college campuses and believe they should come up with a new product name as well. Choose one of the three products listed in the course project assignment (Marketing Scenarios). Create a name for the product you choose, and create the following components of a marketing plan for the next year. The marketing plan should include: 1. Situational Analysis 2. Marketing Strategy 3. Financials 4. Controls The situational analysis must include (but is not limited to) a SWOT analysis and information about the top three competitors. Competitor information should be based on research of real companies who could compete with this product. Support your data with sources no more than five years old. You will be creating the financial information for your company yourself. You may want to look at the example found on pages 60-64 in your textbook. Second component of your marketing plan, answer the questions listed below. Make sure the information about your company is presented in a professional and error free manner, and your answer to each question should be at least 400 words 1. Describe what type of marketing research your company will need to use in order to support its marketing strategy. Create a list of questions or issues that your company will need to settle using marketing research. 2. Describe how your company will examine customer satisfaction, and what will you do to create customer loyalty? You will want to complete this assignment in a timely manner as there will be a new component added to the project in each unit. Third component of your marketing plan, answer the questions listed below. Make sure the information about your company is presented in a professional and error free manner, and your answer to each question should be at least 400 words. 1. To what segments will your company market to, and what variables should be used in these segmentations? 2. Discuss the way your company will address your customers? buying decision process. Fourth component of your marketing plan, answer the questions listed below. Your answer to each question should be at least 400 words (except for question 2). 1. Discuss what brand elements would be most useful for differentiating your company?s brand from competing brands. 2. In a sentence or two, what is the appropriate positioning for your company?s product? 3. What factors will you use to determine your company?s strategic group, and what competitive strategy would be most effective as your company introduces this new project? Fifth component of your marketing plan, answer the questions listed below. Make sure the information about your company looks professional and error free. Your answer to each question should be at least 400 words. 1. Describe how your company will address the five product levels: core benefit, basic product, expected product, augmented product, and potential product. 2. Discuss the primary pricing objective for your company. What are some of the implications of your pricing decisions? 3. Explain what type of packaging and labeling you will use to support your brand image. MBA 5501, Advanced Marketing 5 Be sure that your ideas support your product and the decisions you have made in the past. Sixth component of your marketing plan, answer the questions listed below. Your answer to each question should be at least 400 words. 1. How many channel levels are appropriate for your company?s targeted business segment? Based on the number of channel members, should you use exclusive, selective, or intensive distribution? Why? 2. What types of retailers will your company use for distributing your product? Discuss the advantages and disadvantages of using this type of retailer. Be sure that your ideas support your product and the decisions you have made in the past. Seventh component of your marketing plan, answer the questions listed below. Your answer to each question should be at least 400 words. 1. Explain your communication objectives and the communication channels your company will use to influence your target audience. 2. Your company wants a recommendation of an event sponsorship possibility that is appropriate for the new product campaign. What type of event would you recommend, and what objectives would you set for the sponsorship? 3. Discuss two new product ideas that can result from your product, and address the needs of your target segments.
Paper#9220 | Written in 18-Jul-2015Price : $25