University of F EMBA 7035 – Strategic Market Planning Final Assignment Submission via online course room and/or e-mail Use the following format: 1) Cover Page 2) Executive Summary (Brief – this describes the purpose of the paper - may be a single paragraph) 3) Body of Assignment – a. No page Limit (Provide what you believe to be sufficient) b. SINGLE SPACE – 12pt Times New Roman c. Writing style – 2nd or 3rd Person (your choice– not first person – you audience is the owner of the company) d. Order of body information - See below 4) References – (not required for marketing knowledge - as this is your work about a product for a client – reminder – do not plagiarize (copy verbatim) – you may paraphrase from any source) You should include sources for any “Data” that may need to be looked up further – data sources may be put into an appendix. 5) Appendix – (only if necessary) NOTE: Be sure to read the WHOLE question – and answer all parts! If you have any questions – e-mail to me right away. You are to complete the following scenario by selecting a product, brand name and target market for a new product to be marketed in Canada. You are to complete this exam by providing the product positioning and marketing mix elements for the product YOU selected. Scenario: You have recently opened your own Marketing Consulting Practice. Your first (and only) client has asked you to a lunch and presented you with the following conversation: “I know you are new to the consulting industry, yet I believe in you. I want to hire you to help me gather information so that I may make a presentation to my company board. I have recently purchased an factory in Malaysia that could create most anything ( X - product - You decide) and I am interested in marketing a product only in Canada.” Since this product will be a new area for my company and new to Canada, I’m looking at this being a newly Branded Item for the company, using the new brand name for marketing. The (Y - new brand name- You create) may have been sold under different names in other countries through retailers targeting ( Z- Target market- You analyze the target market based on the product you selected). Since there are alternative products here in Canada, I need to have branding, positioning, and a strategic Marketing Mix Analysis to provide information for my Board to approve funding and for my Department Managers to follow so they may create a full plan of operations. The information you develop will be my selling tool and I will present it to the board; asking them to approve investment in marketing the (New Brand and Product) in Canada to (The Target Market you determine best for the product)” The Client has offered you a contract for $15,000.00 to complete this Marketing Mix Analysis for the new Branded Product! The Catch? - He needs the analysis in 10 days so he may present a proposal at his next Board meeting. To help you get this project started you should provide information on the following areas: (remember you are providing information so that an Owner may give a presentation to a board) These headings are suggestions – you may use your own – yet information for each of these sections must be presented – DO NOT include these as question format – this is not a Q&A but a strategic proposal for the client. Marketing Mix Analysis for the (Y/X) 1. Provide a brief description of (X) product and describe the consumer benefits 2. Suggest a (Y) Brand Name for (X) Product. a. What Value is there in this brand name for Company & Product? 3. Who is the main (Z) target market? Why? What, Demographics, size, usage rate - is the target? 4. What are alternative purchase options for consumers and who is the main competition? 5. Suggest a Positioning Strategy a. How does the product meet the needs of the target market? b. Describe points of parity and points of difference c. What is the product’s most distinguishing feature? 6. Provide main strategy points for each of the Marketing Mix Elements - including the information requested below. (Not all inclusive) a. Product - What is the product - What makes the product different (as above) - What gives the product more value than alternatives? What is the main value/benefit for the target market? b. Price - Considering the target market – what is the value to price proposition? - How should the price be set? Any specific pricing method? c. Distribution (Place) - What should be the “full” distribution channel? - Can the distribution channel add value to the target market? - Should it have a Push or Pull Strategy – Why? - Are there any special channel considerations d. Promotion - What should be the message communicated? Why? - Are there any specific communication mediums or channels to be used? Why? Formulate how your product meets the need(s) of your target market segments Report how this product will be of benefit to your target market segments Evaluate a plan of action for the marketing Mix Elements No Progress Emergent Practiced Proficient Mastery 0-59% 60-69% 70-79% 80-89% 90-100% Student work demonstrates no understanding or progress towards achievement of this outcome. Student work demonstrates the ability to apply in their writing some of the ways that the product meets the need(s) of the target market segments. Student work demonstrates the ability to discuss (at the level of analysis) most of the ways that the product meets the need (s) of the target market segments. Student work demonstrates the ability to formulate how the product meets the need (s) of the target market segments. Student work demonstrates the ability to fully formulate how the product meets the need (s) of the target market segments. Student work demonstrates no understanding or progress towards achievement of this outcome. Student work demonstrates the ability to explain some of the ways this product will be of benefit to the student’s target market segments. Student work demonstrates the ability to discuss (at the level of analysis) most of the ways this product will be of benefit to the student’s target market segments. Student work demonstrates the ability to report how this product will be of benefit to the student’s target market segments. Student work demonstrates the ability to clearly report how this product will be of benefit to the student’s target market segments. Student work demonstrates no understanding or progress towards achievement of this outcome. Student work demonstrates the ability to explain some of the components of a marketing mix Student work demonstrates the ability to discuss (at the level of analysis) most components to a marketing mix Student work demonstrates the ability to assemble a simple plan of action for a marketing mix. Student work demonstrates the ability to professionally assemble a plan of action for a marketing mix. Grade 90100% Content, Focus, Use of Marketing terminology Analysis and Critical Thinking Answers successfully complete Discussion exhibits strong higherthe assignment; thoroughly uses order critical thinking and analysis various marketing terminology in (e.g., evaluation). support of position. Answers successfully complete the assignment; with only minor 80-89% digressions; sufficiently uses marketing terminology Discussion generally exhibits higher-order critical thinking and analysis (e.g. true analysis). Writing Style, Grammar Sentences are clear, concise, and direct; tone is appropriate. Grammatical skills are strong with almost no errors per page. Sentences are generally clear, concise, and direct; tone is appropriate. Grammatical skills are competent with very few errors per page. Answers successfully complete Discussion exhibits limited higherthe assignment; some digression; 70-79% order critical thinking and analysis sufficiently uses some marketing (e.g. application of information). terminology. Sentences are occasionally wordy or ambiguous; tone is too informal. Grammatical skills are adequate with few errors per page. Answers successfully complete the assignment; but digress 60-69% significantly; insufficiently uses marketing terminology Discussion exhibits simplistic or reductive thinking and analysis but does demonstrate comprehension. Sentences are generally wordy and/or ambiguous; tone is too informal. Grammatical skills are inadequate, clarity and meaning are impaired, numerous errors per page. Answers insufficiently complete 0-59% the topic; insufficiently uses use of marketing terminology. Discussion exhibits simplistic or reductive thinking and analysis and demonstrates limited knowledge on the subject matter. Sentences unclear enough to impair meaning; tone is inappropriate and/or inconsistent. Grammatical skills are inadequate for college level.