Scenario 1: You are the marketing manager for the firm of your choice responsible for developing the tactical and strategic marketing plan. You are also responsible for the successful implementation and evaluation of the plan and have full P&L responsibility for your product/service line.
The corporation is American Woodmark Cabinetry outlined below https://www.americanwoodmark.com/
Response the below:
• Outline your selected scenario and details about the firm and/or product line.
• Discuss which of Michael Porter's basic strategies you will use to market this product and why.
• As you know from your reading, consumers have different product needs and use products differently. Segmentation seeks to group different demands and needs into clusters with similar demand patterns. Using the dimensions of market segmentation, determine which markets you will target with your marketing plan. Outline your target market in detail.
• Outline the stages in the consumer decision making process for your selected product or service. Be sure to discuss how consumers evaluate alternatives and what mediums they use in the information search stage.
• Conduct research to determine where improvements should be made to your product or service line. Discuss these improvements and the estimated cost in developing and launching these enhancements. This could be a product line extension, a service improvement, new packaging, Web site enhancements, etc. The purpose of this element of the marketing plan is continuous improvement. You should justify the need of these enhancements based on your research, such as a review of the competition, feedback from customers, or a review of the marketing environment.
Create a 4- to 5-page paper written in APA format.
American Woodmark(NASDAQ:AMWD) is a manufacturer and distributor of kitchen cabinets and vanities. The company's revenue comes from two segments- new house construction market where it sells cabinets to home builders for newly constructed houses and the second segment is the remodeling market. The company sells its products in 550 different streams under the following brand names.
American Woodmark Corporation's products are relatively low priced. Their variety of designs and colors enables the company to compete and gain market share in this highly fragmented industry.