MKT500 Strayer Zee Boutique fashion Marketing Plan and Branding Strategy
MKT500 Strayer Zee Boutique fashion Marketing Plan and Branding Strategy
Assignment 2: Part B: Your Marketing Plan
Due Week 6 and worth 240 points
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.
Instructions
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.
Your assignment must follow these formatting requirements:
- Be typed, double- spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
1. Analyze marketing environments and strategies used to strengthen product or service positioning.
c. Examine the marketing science of customer behavior and products in the marketing exchange process.
2. Evaluate marketing strategies used to create/communicate customer value.
a. Analyze the marketing framework through a situation analysis.
b. Evaluate target customer segments and positioning products within these segments.
c. Evaluate the basis for market segmentation and approaches to segmentation.
3. Create an effective marketing plan.
a. Develop recommendations based on market analysis and strategy.
b. Develop strategies to assess performance and achieve marketing goals.
c. Develop dynamic strategies for competing.
d. Develop branding strategies for existing and new products or services.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric found here.
My feedback was:
Jennifer,
Please, refer to the grading rubric for more detailed feedback.
This is a very well-thought out plan, and I really enjoyed reading it. You earned a grade of A (97%). It is very important to create a comprehensive marketing plan for any business to be successful. This assignment is the first step in doing so. The rubric requirements have been fulfilled. Please review my feedback.
Introduction: You did well introducing your hypothetical company. Your product/service is clear, the physical location is defined and you successfully introduced the elements of your marketing plan. Great job!
Mission Statement: See textbook, page 21 “To define its mission, a company should address Peter Drucker’s classic questions: What is our business? Who is the customer? What is of value to the customer? What will our business be? What should our business be?” Only three of these questions were addressed in your mission statement. Your mission statement is not comprehensive enough. Consider the following items in a mission statement:
1. Customers—Who are the firm’s customers?
2. Products or services—What are the firm’s major products or services?
3. Markets—Geographically, where does the firm compete?
4. Technology—Is the firm technologically current?
5. Survival, growth, and profitability—Is the firm committed to growth and financial soundness?
6. Philosophy—What are the basic beliefs, values, aspirations, and ethical priorities of the firm?
7. Self-concept (distinctive competence)—What is the firm’s major competitive advantage?
8. Public image—Is the firm responsive to social, community, and environmental concerns?
—Are employees a valuable asset of the firm?9. Employees
Goals: The goals you indicated for the short term and long term were specific and realistic; ways to measure them were identified.
Environmental Analysis: All elements of the environmental analysis were addressed and explained. Good job being thorough and exhibiting an understanding of the environmental factors. Remember that environmental factors are outside of your direct control, but each of these factors has influence over your business.
SWOT Analysis: The SWOT and Needs Analyses are on target and show how your company will fare in the market. Your strengths and weaknesses are clearly internal as you can control them. Your opportunities and threats are clearly derived from the environmental analysis and, while you cannot control them, they can have a direct impact on your hypothetical business.
References and Citations: You provided the appropriate number of quality references, and showed a clear understanding of an academic reference. Most APA formatting is correct. Click here for more info on references and citations formatting.
Overall, I really like the way that you wrote your paper. It was clearly written, and very well-organized, which made it very easy to follow your analysis.
Jennifer, I appreciate you taking the time to review my feedback. Remember, if you have any questions or concerns, please email me at stephen.hiatt@strayer.edu.
Dr. Stephen R. Hiatt
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