Individual Project
Deliverable Length: 400-500 words
Details: Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.
Complete the following:
• Choose 1 consumer product brand to be your "client." You may choose any consumer brand or select a brand from this list.
• Review your client's brand by researching its Web site and other supplemental resources, such as this directory to learn everything
you can about the company, its customers, the management team, and anything else that will help you understand its brand.
You are the chief marketing consultant for your company's brand. Your goal is to help the company create an updated marketing plan by learning to apply the marketing process to communicate how great the company's brand is to its current and potential customers in the marketplace and market space.
One of the first steps of the marketing plan is to understand the business goals of the project.
Your client has asked you to draft the goals of the marketing plan by suggesting how to use the marketing mix-the 4 Ps of marketing-to help create a marketing proposal to help reposition the brand in the marketplace. The client wants a brief report presentation to help brainstorm the interaction of the 4 marketing Ps and other ideas with the company's marketing team.
Write a proposal brief showing the goals of the marketing project by illustrating one objective for each marketing P. The brief should include the following sections:
Product Overview
• Briefly explain the company and brand. Add a picture of the brand.
• Give an overview of the brand and its current position or perception by customers in the marketplace. For example, do customers seem to think the brand is too expensive compared to its competitors?
• Identify 1 competitor of this brand and provide a reason why they are a competitor to your client's brand. Add a picture of the competitor brand.
Product Objective
• Draft 1 objective for the marketing proposal to show how product can be applied to your brand. For example, include a statement about the features of the product and the benefits of those features for the customer, or a new product satisfaction guarantee policy.
Price Objective
• Draft 1 objective of the marketing proposal to show how price can be applied to your brand. For example, consider how to possibly discount the price for a short time in an advertising campaign to entice current and new customers to try the product or competitively price the product against its competitors for maximizing market share.
Place Objective
• Draft 1 objective of the marketing proposal to show how place can be applied to your brand. Examples include introducing the product in an online capacity to gain market share, or finding numerous distribution outlets for the product.
Promotion Objective
• Draft 1 objective of the marketing proposal to show how promotion can be applied to your brand. For example, one message could be to explain the quality of the brand over the competition, or a special promotion offering a 25% discount on the first online purchase as another way to increase brand awareness.
Conclusion
• Summarize your understanding of how the 4 Ps are linked for this particular brand.
References
Hoovers. (n.d.). Retrieved from https://www.hoovers.com/
Interbrand. (n.d.). Best global brands 2013. Retrieved from https://www.interbrand.com/en/best-global-brands/2013/Best-Global-Brands-2013.aspx