Revised Homework
There are only two parts of the homework that need to be revised and the following will be posted along with the paper that needs to be revised.
Part II: Your Marketing Plan
Overview
Using the same hypothetical company from Part I: Your Marketing Plan, for this homework, you will focus on the company's branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.
Instructions
Create the second part of your marketing plan in 8 to 12 pages:
a. 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.
b. Develop a branding strategy for your product or service that covers the brand name, logo, slogan, and at least one brand extension.
c. 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.
d. 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.
e. 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.
f. 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.
Comments from previous paper from feedback:
Part I: Your Marketing Plan
a. 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!
b. 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.
c. 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.
d. 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.
e. 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.
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
Attachment:- Part-II-Marketing-Plan.rar