Marketing
1. On the Basics:
a. We have asserted that marketing is really the strategic idea of connectedness with customers. From the perspective of your final project company, identify and discuss how your company connects with its customers - select from either the marketing concept or the selling concept. Be sure to define each concept and be detailed in your response.
b. Referring to your project company provide a well-developed characterization of your market segment and your target market.
i. Identify the most urgent issue necessary for you to penetrate or protect your desired market space.
c. Lastly, concisely address each of the following central positioning questions pertaining to your project company/brand:
i. What position, if any, do you already have in the prospect's mind?
ii. What position do you want to own?
iii. What companies must be outgunned if you are to establish or maintain that
position?
2. On the Marketing Mix: Discuss the strengths and weaknesses of your company's marketing mix and offer strategic recommendations on how the company should handle the most burning marketing problem/opportunity impacting the strategic performance of the ‘mix'. Consider shaping your answer with the 5Cs in mind.
3. On Consumer Buying Behavior:
a. Referring to your company, describe a scenario of your typical customer using the buyer decision process when considering purchasing your company's product/service. Use the language from our readings.
i. Consider pulling from your database research offered in our library workshop to authenticate how your customers behave in your market environment.
b. Additionally, from the criteria that influence the rate of adoption, in what area does your company/product excel and what area does your company/product require attention to strengthen the adoption process? Be detailed in your response.
4. On Branding and the Product Lifecycle:
a. Referring to your company, identify the one major strength and weakness of the brand.
i. What are your recommendations to strengthen the competitiveness and equity of the brand?
ii. Lastly, identify at what stage your brand falls within the product lifecycle model.
What is required for you to ensure that the customer remains eternally ‘connected' to your brand?