Project Assignment Guidelines
Overview
The project for this course is the creation of a marketing plan for a global fashion marketer. Students will develop a marketing plan with a technology focus. The plan will include identification of the marketing mix and target markets, a complete SWOT analysis, identifying market segmentations while utilizing a customer relationship management (CRM) database to enhance the customer shopping experience, new product development opportunities, and identifying and explaining how technology will enhance the retailer's supply chain. The project, although not a complete marketing plan for a business, will identify and link the technology aspect of portions previously listed. Social media and its rapidly changing environment will also be addressed.
The project is divided into four milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality submission. These milestones will be submitted in Modules One, Two, Four, and Six. submission of the project will be in Module Seven.
Outcomes
In this project, you will create a marketing plan that demonstrates your mastery of the following course outcomes:
• Students will demonstrate an understanding of the role that technology plays in fashion products development
• Students will understand the value of using technology to enhance consumer's shopping experience
• Students will demonstrate an understanding of technology to create an effective and efficient supply chain system
Specifically, the following critical elements must be addressed:
Prompt
1. Background: Technology in the fashion product development
a. Identify a retailer with a strong online presence for your marketing plan. Describe its marketing mix and target market.
b. Describe how the retailer is using technology to develop its products.
c. In your description, include how the retailer is using technology within its marketing mix to reach its target market.
d. Describe e-commerce's role in pricing the product and describe the retailer's sales channels.
2. Technology and the consumer shopping experience
a. Conduct a SWOT analysis and competitive analysis to determine how well your retailer can seize opportunities and minimize risks.
b. Describe how a consumer relationship management (CRM) database allows your retailer to retain the segmented markets.
c. Market segments: How does the business market to its segments? How has technology helped the business reach out to its segments? How has technology changed the role between the retailer and the wholesalers, suppliers, or business partners?
d. Describe ways technology is used to enhance the customer shopping experience.
3. Technology and supply chain systems
a. Identify the supply chain and explain the role technology plays in the logistics of the supply chain.
b. Examine how technology has enhanced or hindered each element of the promotional mix.
c. Explain how technology can make the supply chain more effective and efficient.
4. Conclusion
a. Summarize the overall role that technology plays in the fashion products development, the consumer shopping experiences, and the supply chain systems.
Milestones
Milestone One: Identify Retailer/Marketing Mix/Target Market
In task 1-2, you will submit Milestone One.
1. Choose your online fashion retailer. Identify its marketing mix.
a. Product-related questions
i. What new products has this retailer designed or developed in the last three to five years?
ii. What technology does this retailer utilize to develop these products?
b. Price-related questions
i. What is its pricing strategy for these new products?
ii. How has e-commerce played a role in its pricing philosophy?
c. Placement-related questions
i. How does this retailer actually sell its products? For example, internet sales, direct mail, catalogue, retail shops, wholesale, peer-to-peer, or multichannel?
ii. What supply chain or logistical operations are in place to enhance its supply chain?
d. Promotion
i. What media is used to promote these new products?
ii. Cite the retailer's webpage (or, if imaginary, the webpages that you referenced to create your retailer). Are you able to purchase directly off the webpage? Does it link to social media sites? What benefits does the website give this particular retailer? Any disadvantages or changes you would make to the website to enhance its promotion?
2. Identify its target market: Who are its customers?
Milestone Two: SWOT Analysis
In task 2-2, you will submit the SWOT analysis.
A SWOT analysis is an internal document used to identify and explain your strengths, weaknesses, opportunities, and threats. The most critical aspect of the SWOT analysis is for a retailer to determine its unique characteristics in terms of its strengths and weaknesses as compared to its competition. A strengths and weaknesses analysis indicates how well the business can seize opportunities (items the business has control over) and avoid harm from threats (items the business has NO control over) in the environment. The following two tables provide a visual representation of SWOT. The analysis is a detailed summary of each category.
Milestone Three: Market Segmentation and CRM Systems
In task 4-2, you will submit Milestone Three.
1. Divide your target market into segments. Address how the markets will be segmented and how the CRM will allow you to retain your segmented markets.
2. How does the business market to its segments? Specifically include the following:
a. The promotional mix from Milestone One
b. What technologies are in place to allow the business to "reach out" to its segments?
c. How has the use of technology within this organization allowed the business to reach out to its markets to showcase its new products?
d. How has the use of technology changed its interaction with its suppliers? Wholesalers? Other business partners?
3. There are five categories of new products: new inventions, new category entries, additions to product lines, product improvements, and repositioning target products to new markets for new uses. The process is the same regardless of the category. It includes idea generation, idea screening, concept development and testing, analyzing the business, prototype development, test marketing, and commercialization.
a. Once the new products are identified for your business (Milestone One), how has the use of technology helped or hindered this organization in determining which new products to develop?
b. How is technology utilized in the actual generation of the idea to commercialization phase?
c. Describe ways that this business uses technology to enhance the customer shopping experience. Which products or opportunities should this business produce to enhance its market share?
Milestone Four: Technology in the Supply Chain
In task 6-2, you will submit Milestone Four.
Supply chain management includes the management of transferring a product from one source to another. Whether it is from supplier to wholesaler, wholesaler to retailer, or retailer to consumer, information technology plays a large role in the process. Computer-based programs help manipulate the information and correlate supply chain improvements. This also allows for integration of all parties within the supply chain. Risks are reduced, management can be more efficient, and all parties can stay abreast of all communication and changes within the supply chain. Orders and payments can be transferred electronically, and troubleshooting potential issues becomes an easier task.
1. Identify the supply chain for the business. What role has technology played in the logistics of this supply chain? For example, if the inventory levels are growing (because of a threat to the business), adjustments need to be made in the manufacturing (or design) of those products. How will technology play a role in this situation?
2. Identify and describe the elements of the promotional mix. How has technology enhanced or hindered each element?
3. Explain how the elements will (or should) be combined into an integrated marketing plan. Which media are utilized? Which media are being under- or over-utilized?
4. What can be done to make the supply chain more efficient?
5. How can technology help make the supply chain more effective and efficient?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.