Question: Marketing Final Term-Paper Project
The purpose of this paper is for students to learn about how to compose and present a marketing idea/analysis and demonstrate their knowledge of marketing. Components: Present to the company the idea to have a birthday gift card or credit to customers. Kind of like how you get free meal on your birthday at restaurants, analyze the company in the following described manner, then present a "new" marketing strategy that will take that company hopefully into future success. A new company can be considered for the topic, but additional information and approval will need to be obtained from instructor.
• History: Research the history of the company and develop an essay that pertains specifically to the relevant history as to marketing strategy proposed. Use the research found on the history to incorporate it into relevant and viable marketing strategy for the company. The history includes details of its origination, owners, etc., but it also includes an evaluation of the company's current marketing strategy as it relates to the new idea. For example, if the new idea is a new product concept, then the history should include an historical perspective of product offerings. If the new idea is about a new promotional campaign, then the history analysis should review what the company has been doing. Any or all of the marketing mix could be included in the history, depending on the focus of the new idea. As with each component of the paper, in-text referencing is required. (1-2 pages)
• Current Situation Analysis: A comprehensive, but very specific SWOT analysis as it relates to marketing plan, should have bullets and ranked in order under each heading of importance. If phrase is not descriptive enough, then explain further and support with evidence.
Please refer to supplemental file on SWOT. (1 - 2 pages)
• Analysis of current marketing philosophy of the company (1 paragraph)
• The company's current mission and objectives (1-2 paragraphs)
• Current Perceptual Map(s) based on the two attributes identified as the two key attributes of success or continued success with written interpretation of findings (½ page map, ½ page written interpretation of map.) Please refer to supplemental file on Perceptual Mapping.
• Current Product Mix Analysis - Product Width/Depth Chart (½ page chart, ½ page written interpretation of current product mix.)
• Product Life Cycle diagram and/or Boston Consultant Matrix analysis with interpretation of findings ( ¼ to ½ page diagram, ¼ to ½ page written interpretation of diagram.)
• Other analysis: Any other current situation analysis that is relevant and supportive of proposed strategy. This is recommended to include an analysis of social, cultural, individual, and/or psychographic influences on the proposed product and/or the company's position in the market and/or marketing segmentation such as bases of segmentation. [Extra points possible....to be determined as submitted.]
III. Proposed strategy
• Clearly state a specific marketing strategy (1-2 well-written paragraphs given as an overview to strategy proposed.)
• Define the strategy with specifics. For example, cost differentiation strategy, concentrated strategy, exclusive distribution, niche marketing, new product concept developing, new philosophy orientation, new pricing strategy or promotional strategy, etc., etc.) (2+ pages)
• Define the marketing mix plan (4-P's) and, if relevant, the 6 elements of the promotional mix in relation to proposed marketing strategy (1-2 pages)
• Clearly define target market (including demographics, psychographics, etc.) (1/2 - 1 page)
EXTRA Credit--Refine strategy-for example discuss control of the evoked set, control of the consumer decision process, control of cognitive dissonance, new philosophy, or redefined mission
Most importantly, the paper is to include the STUDENT'S IDEAS for making this company successful in the future. The question should be answered, "What strategy (marketing plan) should the company undertake to become more successful or continue to be successful?" The paper is to incorporate concepts from chapters in the text. It can include the targeting of a specific product and how companies market that particular type of product, if different ways are utilized. This can include an evaluation of the company's marketing strategy such as target markets, pricing strategy, promotional campaign, product development, issues facing the company, etc. (Page count open and determined as to what is needed to convey ideas.)
IV. Overall Conclusion (1 paragraph)
V. Works Cited/ Reference Section (Minimum 5 resources and presented in correct format with in-text referencing) (These resources need to be of academic level, not sites such as Wikipedia).
Overall the purpose of the paper is to evaluate the company's overall marketing strategy and then clearly
PRESENT suggestions for marketing the product(s) of the company or give new direction to the company to follow for future success. Suggested ideas to present in paper include: (Each idea must be fully supported.)
1. Suggestion and support of a NEW product
2. New target market
3. New strategy (niche, concentrated, etc.)
4. New distribution/placement strategy
5. New pricing strategy
6. New promotion strategy
7. Alliance/partnering
8. Global expansion
9. New orientation, product mix, mission, objectives, marketing mix, etc. in support of ideas presented
10. etc. (There are many ideas--find one you can suggest and "sell" that idea to who reads your paper)