Examine the relevant consumer behavior for your target market. There are only two parts of the assignment that need to be revised and the following will be posted along with the paper that needs to be revised.
Part B: Your Marketing Plan
Using the same hypothetical company from Part A: Your Marketing Plan, 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 make all assumptions needed for the completion of this assignment.
Create the second part of your marketing plan in 8–12 pages:
- 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 or 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 (age, gender, ethnicity, and so on), psychographic profile, professional profile, geographic profile, and any other segment 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, and 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 or service. These resources should be industry specific and relate to your chosen product or service.
- Use the Part B Marketing Plan Template [DOCX] to complete the assignment.
comments from previous paper from feedback:
Part A: Your Marketing Plan
Introduction: You provided a well thought out description of your hypothetical business. The product/service that you will focus on in this course is clear, the physical location is defined and you successfully introduced the elements of your marketing plan. Great job!
Mission Statement: The mission statement is succinct and straight forward with a solid rationale. Your mission statement will help you move forward and focus your hypothetical company in the direction to best serve your consumer while utilizing all your resources in a cohesive manner. All five questions in your mission statement were successfully answered.
Goals: Your stated short term and long term goals of either revenue, profit, market share, brand awareness or customer acquisition are SMART goals: S. – Specific; M. – Measurable; A. – Assignable; R. – Realistic; T. – Time based. Knowing what you plan to accomplish is a solid first step in building your marketing plan. There were, however, no measurements provided for your goals. These measurements are important to help you monitor your progress and adjust as needed.
Environmental Analysis: All the elements of the environmental analysis were addressed and explained. You gathered factual information covering each of the six categories in the environmental analysis. This was thorough and exhibited 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 more than the required number of academic peer reviewed references (four or more), and showed a clear understanding of an academic, peer reviewed reference. All APA or SWS formatting is correct.
Mechanics: Your paper provided most of the points of your plan, but it was not as well organized as it could have been. Please refer to the templates as provided in the assignment instructions. The templates are APA or SWS formatted, have all the elements needed that match the rubric, and have tips so you gain the most points. As a final note, there were a few minor grammatical issues with this paper. Please make sure to proofread your paper before submitting it. One of the best ways to do this is to read it aloud. Hearing what you’ve written is a great way to catch grammatical issues.
this is a template to use and all I need added is a perceptual map.