Activity Description: Marketing Analysis
Pretend you have been hired as Director of Marketing and Planning in time for the anticipated introduction of a company's new product or service. For your first assignment, you are asked to provide a rudimentary market analysis and promotion mix for the new product offering's introduction. You will present this information to the Senior Vice President of Marketing, as well as to others in upper management. They will compare your suggestions to other earlier suggestions previously developed, but they are hoping you will provide new, fresh insights into how they can identify, attract, and capture their desired audience. Although you want to make a great impression, you also know that they may very well give the implementation of the plan back to you and you want your presentation to be as realistic as possible. Your Activity responses should be both grammatically and mechanically correct, and formatted in the same fashion as the Activity itself. If there is a Part A, your response should identify a Part A, etc. In addition, you must appropriately cite all resources used in your response and document in a bibliography using APA style. (A 3-page response is required.)
Part A.
Choose the type of company for which you work. Although your company is fictional, you may base it on a similar real-life one in order to obtain basic information about the company itself. Describe your new employer, including the following.
1. The company and industry in which you operate
2. Your product lines
3. Your total number of employees
4. Your annual revenue
5. Your top competitor
Part B.
Write an overall description of the new product you will be promoting. Include four product features and one benefit for each feature.
Part C.
Identify and describe the three primary market segments you would target to buy your product. In each description, identify two demographic and one psychographic characteristic.
Part D
Develop a list of five marketing activities you recommend to promote this new product. Include the reason why you believe each of the marketing activities will be successful.
Reference:
Kotler, P., & Keller, K. (2012). Marketing management (14th ed.). Upper Saddle River, NJ: Prentice Hall.