Market Strategy 1

timer Asked: Aug 28th, 2013

Question description

Choose 1 consumer product brand to be your “client.” You may choose any consumer brand (I prefer in automotive or whatever you can easily discuss). 
• Review your client’s brand by researching their Web site and other supplemental resources, such as this directory to learn everything you can about the company, its customers, management team, and anything else that will help you understand its brand. 
You are the chief marketing consultant for your company’s brand. Your goal is to help the company create an updated marketing plan by learning to apply the marketing process to communicate how great the company’s brand is to its current and potential customers in the marketplace and market space.
One of the first steps of the marketing plan is to understand the business goals of the project. The job of the marketer is to help design a marketing plan so that the company can realize additional revenue and profits through increased market share or motivating existing and new customers to buy the product. Sometimes this requires repositioning or changing the brand’s image and the way the brand is perceived by customers in the marketplace by using the 4 Ps of marketing.
Your client has asked you to draft the goals of the marketing plan by suggesting how to use the 4 Ps of marketing that will help reposition the brand in the marketplace. The client wants a brief PowerPoint presentation to help brainstorm the interaction of the 4 marketing Ps and other ideas with the company’s marketing team.
The presentation will help everyone on the team understand how to apply the 4 Ps of marketing to a brand by developing 2 objectives for each marketing P that can be used in the final marketing plan. Analyze how the marketing Ps will help reposition your selected brand.
Create a PowerPoint presentation of 7–8 slides showing the goals of the marketing project by illustrating 2 objectives for each marketing P. Explain your ideas for each P by writing at least 100–150 words per slide of speaker's notes. The presentation should include the following:
• Slide 1: Product Overview 
o Briefly explain the company and brand you are working on. Add a picture of the brand to the slide. 
o Give an overview of the brand and its current position or perception by customers in the marketplace. For example, do customers seem to think the brand is too expensive compared to its competitors? 
• Slide 2: Competition 
o Identify 1 competitor of this brand. Add a picture of the competitor brand. 
o Explain 1 reason why this brand is a competitor of your client’s brand. 
• Slide 3: Product Objectives 
o Draft 2 objectives of the marketing plan to show how product can be applied to your brand. Examples are as follows: 
 Objective 1 could include a statement about the features of the product and the benefits of those features for the customer. 
 Objective 2 could include a new product satisfaction guarantee policy that can be communicated in the advertising message. 
• Slide 4: Price Objectives 
o Draft 2 objectives of the marketing plan to show how price can be applied to your brand. Examples are as follows: 
 Objective 1: One goal of the price marketing P could consider how to possibly discount the price for a short time in an advertising campaign to entice current and new customers to try the product. 
 Objective 2: You could competitively price the product against its competitors for maximizing market share. 
• Slide 5: Place Objectives 
o Draft 2 objectives of the marketing plan to show how place can be applied to your brand. Examples are as follows: 
 Objective 1 should be designed to find as many distribution outlets as possible for the product. 
 Objective 2 could be to introduce the product in an online capacity to gain market share. 
• Slide 6: Promotion Objectives 
o Draft 2 objectives of the marketing plan to show how promotion can be applied to your brand. Examples are as follows: 
 Objective 1: One objective on promotion is to find a creative and different targeted message that “speaks” to the target customer segments, attempting to show how much better one brand is over the competition. For example, one message could be to explain the quality of the brand over the competition. 
 Objective 2: Another objective of promotion could be to create advertising campaigns that reinforce the brand for the customer. For example, a special promotion offering a 25% discount on the first online purchase is another way to advertise and promote the product for increased brand awareness. 
• Slide 7/8: Conclusions 
I'll be waiting for your replies soon and thanks again in advance. Again, please try not to take advantage of my situation. I'll keep my word that I will half my first paycheck with you as long as you keep your charge affordable.
o Write a paragraph about your understanding of how the 4 Ps are linked for this particular brand.

Studypool has helped 1,244,100 students
flag Report DMCA
Similar Questions
Hot Questions
Related Tags

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors