Describe 3 worthwhile (existing or new) consumer segments for your chosen company/product, using multiple segmentation variables for each segment. Maximum 1 page single-spaced, either point-form or brief paragraphs.

A: Research and analyze the immediate and macro environments of your chosen company/product. Maximum 2 pages single-spaced, either point-form or brief paragraphs. Cite all sources using in-text citations or footnotes.

  • Customers/Consumers: Who are the current customers? What is the estimated size of the market? How do customers buy and use the product? What factors do they consider when choosing between competitors? How loyal are customers? What products do customers consider to be competitive (direct, indirect, marketplace competitors)?  etc.
  • Company & Corporate Partners: Summarize the company’s relevant history and background, mission/vision, culture, resources, key success factors, etc. How has the company been successful so far? What types of partners (e.g. suppliers, service providers, consultants, etc.) help it succeed, and what are their strengths/weaknesses? What types of partners is it missing? etc.
  • Competitors: How intense is the competitio1n in this category? Is the category growing or shrinking? Are there many small competitors, or is the industry dominated by several large players? Are there substitutes/indirect competitors? How easy/hard is it for new entrants to start up? etc.
  • CDSTEP: Describe the characteristics of the macroenvironment in which the company competes, using CDSTEP to cover all main points. What cultural, demographic, social, technological, economic, and political-legal factors influence the industry, the company, and consumers?

 B: Based on your analysis from Part A, summarize in a SWOT table the company’s key Strengths and Weaknesses (internal) and the key Opportunities and Threats (external) it faces. You should have at least 6 items listed under each SWOT category in your table. Maximum .5 page single-spaced, either point-form or brief paragraphs.

C: Highlight the most important point(s) under each of S, W, O, and T and explain if/how they all relate to each other and should shape the company’s marketing strategies. Maximum .5 page single-spaced.

Due Week 7

Submission 2: STP Outline (5%)

Segmentation, targeting, and positioning (STP) form the foundation for a company’s entire marketing plan – all strategies must align with these components – so clearly defining them is critical to the company’s success.

Part A: Describe 3 worthwhile (existing or new) consumer segments for your chosen company/product, using multiple segmentation variables for each segment. Maximum 1 page single-spaced, either point-form or brief paragraphs.

Part B: Choose 1 segment from Part A that you would target, and justify your choice. Maximum 2 paragraphs single-spaced.

Part C: Write a positioning statement for your chosen company/product, targeted to your chosen segment from Part B. Maximum 1 paragraph single-spaced (but if you are efficient, one sentence could suffice).

Due week 10

IMPORTANT: Include submission 1 and 2 sections updated based on the comments you received from me (5%)

Submission 3: Marketing Mix Analysis.(5%)

Developing a marketing strategy involves creating an integrated marketing mix (product, pricing, distribution, and promotion – the 4Ps) aimed at developing a long-term, value-oriented relationship with a clearly defined target market. Being able to succinctly and effectively communicate your analysis and recommendations is an important business skill and a component of your development in this course.

Project: Write a 3 pages single spaced paper that summarizes your analysis of the effectiveness of the company’s current marketing strategy as it applies to your chosen target market (from Assignment 2) and your recommendations to improve or build on this strategy.

  • Part A: Very briefly summarize the company’s/product’s current environment and the marketing mix components of the current strategy (i.e. to set the stage for Part B, review just the most important highlights of your Assignments 1 & 2).
  • Part B: Critique the effectiveness of the company’s marketing mix (all 4Ps). Is it appropriate for your chosen target segment from Assignment 2? Does it reinforce the company’s/ product’s positioning strategy? What is the company doing well, if anything? What mistakes, if any, is it making with its current strategy? Recommend improvements and/or additions to the company’s marketing strategy to make it more effective for your chosen target segment from Assignment 2.

Marketing Plan Presentation (10%)

10 minutes group presentation on campus during week 10