MKT501 - Strategic Marketing Module 1 - SLP - 10033

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Session Long Project

 

Over the session you will conduct a marketing audit in the form of a Strengths, Weaknesses, Opportunities, and Threats (SWOT) marketing analysis of a branded product (good or service) of your choosing.   Do NOT choose a company.  Choose just ONE branded product (good or service) to discuss.  In choosing your branded product, keep in mind that in order to effectively conduct your audit, you must have access to relevant information.  Therefore, before selecting a branded product, go to SLP5 to view

 

(1) the format for your final SLP and
(2) a list of topics that outline relevant information for a SWOT marketing analysis. (These topics are highlighted with Bold letters for each of the modular SLP activities).

 

The following are examples of branded products (goods or services):

 

Lipstick by M A C - Color is 'O'
Fancy Feast Cat Food - Chunky Chicken
Most recent Apple MacBookPro or MacBook or IPad or IPhone
Droid Rzr 4G LTE Cell Phone by Motorola
Boeing 737
Equate (Wal-mart’s store brand) Anti-Plaque Dental Rinse
Trident MBA (with concentration in Marketing)
Ben and Jerry’s Ice Cream (Cherry Garcia)
New Balance Men's 609 Running Shoes

 

You may choose one of the above products or any other branded product (good or service) for your SWOT marketing analysis with the following caveat:  Please do not choose the branded product that is the basis of CASE1.

 

Note that you should NOT choose an entire line of products such as M A C lipsticks or MAC lip gloss.

 

Exceptions to the above directive:

 

If you are planning to launch a small company, own or manage a small company, or have access to the manager/owner of a small company (such as a Bed & Breakfast, restaurant, or small specialty retailer) then you may choose that business. Ask your instructor if you are not sure.

 

Or, you may choose a specialized recruiting area of the military, e.g., “Army recruiting for medical professionals”

 

In terms of the audit, you must apply the concepts taught in the background readings to analyze
(1) the strengths and weaknesses of the branded product that you selected (your branded product) and
(2) the opportunities and threats faced by your product.   
As a guide for the marketing audit, you will be given questions to answer; but you are not limited by those questions. 

 

In each module, you will complete a section or part of a section of your SWOT marketing analysis, building on the sections completed in prior modules.  You are expected to respond to your instructor’s feedback by making changes in the each section as you are to present the outline in SLP5 with completed, partially completed, and not-yet completed sections each time you submit your modular SLPs.

 

Excluding your title page, SLP1, SLP2, SLP3, and SLP4 are to be approximately 750 - 1250 words.  This means that the SWOT Marketing analysis (SLP5) should be 3000 - 5000 words.

 

For SLP1

 

(1)  As indicated above, choose a branded product (good or service) OR choose a company where you know the owner/manager personally.  Verify with your professor via email that the name of that branded product (good or service) you chose is acceptable.

 

(2)  Tell your reader your branded product in the first section of your paper (Branded Product Analyzed).

 

(3)  In the section labeled Strategies/Marketing,

 

1.    Describe how the market for your product is segmented.  Then describe the target market for your product.

 

2.    Describe a sample person in the target market, in detail. Go beyond "upper class women" or "middle class families." For example, if you are describing a Revlon cosmetic target, you might write: "Cara is a 27 year old administrative assistant, living in Chicago. She earns about $40,000 a year and spends a lot of her income on clothes and shoes. She reads fashion magazines and watches Survivor. She likes to go out several times a week ... " 

 

3.    Explain WHY you believe your characterization is accurate. You won't know for sure but make a logical argument.

 

4.    Lastly explain if percpetion of your product is a Strength, Weakness, Opportunity, or Threat.  Defend your position on this issue.  For instance, you can defend your position on this issue based on

 

1.    How your product is packaged

 

2.    Where your product is advertised

 

3.    The product's advertising message

 

4.    The product’s price (relative to competitive products)

 

5.    Where your product is distributed

 

(4)  In the section labeled Marketing Environments/Competitors, list your product’s top 2 or 3 competitors.  Is the financial situation of your company relative to its competitors a Strength, Weakness, Opportunity, or Threat?  Defend your position on this issue.
[NOTE: Every branded product has competition. For instance Ben and Jerry’s ice cream competes against all of the other ice creams.]

 

(5)  In the section labeled Marketing Environments/Buyer Decision-Making and Behavior, explain the differences customers perceive between your product and the products of competitors.  Don't just list facts (e.g., A is priced at $11.50 and B at $15.00).  Analyze the differences.  Is how your product is perceived a Strength, Weakness, Opportunity, or Threat?  Defend your position on this issue.

 

(6)  In the section labeled Strategies/Marketing, create a product positioning map for your product.  

 

1.    List what you believe are TWO PRIMARY ATTRIBUTES on which your business competes (such as durability and power). 

 

2.    Create and include in your SLP under 'TARGET MARKET and PRODUCT STRATEGY' a positioning map showing where you place your branded product relative to its primary competitors on these TWO criteria.

 

3.    You should NOT choose quality and price. Many textbooks follow this approach but this usually results in a linear arrangement of the products on a diagonal, with two empty cells! Either the products are of high quality with a commensurate high price or of low quality with a commensurate low price.  It is hard to imagine finding products with high quality and a low price or low quality and a high price, i.e. Price and Quality are highly correlated and this invalidates a fundamental assumption of positioning maps, namely that the dimensions used are independent.

 

4.    When your brands line up on a straight line, you've got ONE dimension, not two.  Therefore, choose more interesting and useful dimensions.  For example, if you are describing the market for colas, you might choose TWO of the following: carbonation, sweetness, and type of sweetener.  Or if you are describing the market for ice cream, you might choose TWO of the following: creaminess, sweetness, and type of sweetener.  Though meaningful positioning is multi-dimensional (that is it requires more than two dimensions, for this exercise, so that you get a feeling for the process, you are being asked to use only two dimensions.

 

5.    Remember to use dimensions that are very important to the consumer - not qualities that the consumer won't notice.

 

(7)  In the section labeled Strategies/Marketing, briefly summarize your product's positioning strategy.  Is your product’s position a Strength, Weakness, Opportunity, or Threat?  Defend your position on this issue.

 

(8)  In the section labeled Strategies/Marketing, based on the discussion of brand personality in the Fournier article,

 

1.    Briefly create a brand personality for your brand. Then, choose one of your brand's competitors and describe that brand's personality.

 

2.    Briefly contrast the two brand personalities you created.

 

Submit your approximately 750-1250 word SLP1 (excluding title page and references) to Coursenet

 

Expectations with regard to your References and your Defense of Your Position on the Financial Future for your Branded Product.

 

Use the appropriate lines in the outline shown in SLP5 as titles and place the facts you find about your branded product under the appropriate titles (that is, in the appropriate sections).

 

Explain clearly and logically how the facts you find about your branded product are product Strengths, Weaknesses, Opportunities, and/or Threats.  Support those opinions as to why each fact is a Strength, Weakness, Opportunity, and/or Threat by using the required readings to support your positions on the issues.   Do not repeat or quote definitions.  Your use of the required readings to support your opinions (that is, contentions or positions) should demonstrate that you understand the concepts presented in those required readings.

 

Paraphrase the facts you find into your own words and ideas.  In other words, use quotes sparingly. And, as a rule of thumb, quotes, if absolutely necessary, should be not much longer than 5 words.

 

When writing an academically-oriented paper of this type, it is understood that much of the information you uncover will be facts about the branded product.  Even if you paraphrase those facts, you should cite in your text the source for those facts and link those citations to references at the end of your paper.  If, in your SLP, you refer to information obtained from talking with an owner/manager, you should cite what that manager tells you.

 

Guidelines for handling quoted and paraphrased material, are found at

 

Author Unknown (ND) Purdue Online Writing Lab.  Copyright ©1995-2011 by The Writing Lab & The OWL at Purdue and Purdue University
Available on 2011 December 22 at
http://owl.english.purdue.edu/owl/

 

Author Unknown (ND) Quoting, Paraphrasing, and Summarizing.  Purdue Online Writing Lab.  Copyright ©1995-2011 by The Writing Lab & The OWL at Purdue and Purdue University
Available on 2011 December 22 at
http://owl.english.purdue.edu/owl/resource/589/01/

 

Author Unknown (ND) Avoiding Plagiarism.  Purdue Online Writing Lab.  Copyright ©1995-2011 by The Writing Lab & The OWL at Purdue and Purdue University
Available on 2011 December 22 at
http://owl.english.purdue.edu/owl/resource/589/1/

 

Rather than your SLP be a report of one fact after another, the expectation is that you will take the facts you find about the branded product’s strategies and the environments that branded product faces and explain how you feel those facts will affect the financial future of your product.  Therefore, rather than grade on how much information you find about your branded product; the emphasis in grading your paper will be on your defense of the positions you take with regard to the strengths and weaknesses or your branded product and the opportunities and threats faced by your branded product.

 

 

 

 

 

 

 

 

 

Solution Description

 

Session Long Project

 

Over the session you will conduct a marketing audit in the form of a Strengths, Weaknesses, Opportunities, and Threats (SWOT) marketing analysis of a branded product (good or service) of your choosing.   Do NOT choose a company.  Choose just ONE branded product (good or service) to discuss.  In choosing your branded product, keep in mind that in order to effectively conduct your audit, you must have access to relevant information.  Therefore, before selecting a branded product, go to SLP5 to view

 

(1) the format for your final SLP and
(2) a list of topics that outline relevant information for a SWOT marketing analysis. (These topics are highlighted with Bold letters for each of the modular SLP activities).

 

The following are examples of branded products (goods or services):

 

Lipstick by M A C - Color is 'O'
Fancy Feast Cat Food - Chunky Chicken
Most recent Apple MacBookPro or MacBook or IPad or IPhone
Droid Rzr 4G LTE Cell Phone by Motorola
Boeing 737
Equate (Wal-mart’s store brand) Anti-Plaque Dental Rinse
Trident MBA (with concentration in Marketing)
Ben and Jerry’s Ice Cream (Cherry Garcia)
New Balance Men's 609 Running Shoes

 

You may choose one of the above products or any other branded product (good or service) for your SWOT marketing analysis with the following caveat:  Please do not choose the branded product that is the basis of CASE1.

 

Note that you should NOT choose an entire line of products such as M A C lipsticks or MAC lip gloss.

 

Exceptions to the above directive:

 

Attachments
MKT 501 Module 1 - SLP.docx
MKT 501 Module ...