UNIT ONE-TARGET MARKETING PROJECT PURPOSE: This project will allow you to demonstrate what you have learned about target marketing, the marketing mix, and the SWOT analysis. It will also give you the opportunity to develop a marketing plan for a company of your choice. This project involves the following: 1. Working in a team, you will select a company and will conduct an in-depth internal and external SWOT analysis on your chosen company. 2. You will analyze the way your company segments the market in order to create a target market. Based on your analysis, you will develop a customer profile of the target market. You will describe the target market’s demographic, psychographic, and geographic characteristics, as well as the behavioral factors of your target market. 3. You will explain & critique the current marketing mix strategies (4 P’s) your company uses in order to reach their target market. 4. Based on your SWOT analysis and your analysis of the company’s primary target market and marketing mix strategies, you will create a new marketing plan for your company. Your marketing plan must consist of the following: a. The formation of a NEW target market b. The development of a NEW marketing mix: i. Product ii. Price iii. Place iv. Promotion 5. You will present your project to the class and will develop a visual aide to accompany your presentation. Target Marketing Project Rubric The visual aide you create for this project should be creative and should contain all of the information about your new target market and the new marketing strategies you have created. Your job is to persuade your audience to support your marketing proposal. Your entire marketing plan should be realistic and feasible in today’s commercial environment. All members of the group must take part in the presentation and speaking times should be relatively equal among everyone in the group. Losing the rubric results in 10 points off!! CRITERIA 4-SURPASSES COMPETENCY 3-COMPETENCY 2-APPROACHING COMPETENCY SWOT analysis Excellent and in-depth analysis of the internal & external factors affecting the company Extremely thorough, detailed, and accurate description of the specific current target market Extremely thorough, detailed, and accurate description of the current marketing mix strategies Realistic target market with a complete & detailed customer profile Strong analysis of the internal & external factors affecting the company Good description of the current target market Fair analysis of the internal and external factors affecting the company Description of the current target market is missing some detail Good description of the current marketing mix strategies Description of the current marketing strategies is missing some detail Poor analysis of the current marketing strategies Good target market with a solid customer profile Poor target market; unrealistic and little detail on the customer profile Excellent, creative, realistic & detailed marketing strategies for all 4 P’s of the marketing mix Exceptional creativity; a project that can be used to show other students Realistic marketing mix strategies for all 4 P’s of the marketing mix Fair target market; may be somewhat unrealistic and/or is missing some detail from the customer profile Fair marketing mix strategies developed; missing some detail Good level of creativity Somewhat creative Lacks creativity Visual AideCraftsmanship Excellent craftsmanship Good craftsmanship Fair craftsmanship Poor craftsmanship Presentation Superior presentation; obviously rehearsed and extremely well prepared; excellent presentation mechanics Excellent use of class time; always stayed on task and worked as a team; obviously worked on project outside of class Good presentation; may have done some preparation; good presentation mechanics Fair presentation; obvious no preparation was done; presentation mechanics need improvement Needed reminders (3 or more) to stay on task; group did not function effectively and/or group had to be changed/split up Poor presentation; completely unprepared; weak presentation mechanics and/or refused to present Off task most of the time during class, needed daily reminders to stay on class; project not completed by the due date Current Target Market Analysis Current Marketing Mix Strategies analysis New Target Market New Marketing Mix Strategies Visual Aide-Creativity Use of class time Total possible points: 40 Good use of class time; stayed on task most of the time; worked as a team Your points: 1-EVEN WITH HELP, STUDENT IS UNABLE TO DEMONSTRATE COMPETENCY Poor analysis of the internal and external factors affecting the company Poor analysis of the current target market Marketing mix strategies lack creativity and detail, unrealistic Grade: