Weekly tasks or assignments (Individual or Group Projects) will be due byMonday 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.
- 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 their Web site and other supplemental resources, such as this directory to learn everything you can about the company, its customers, 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. The job of the marketer is to help design a marketing plan so that the company can realize additional revenue and profits through increased market share or motivating existing and new customers to buy the product. Sometimes this requires repositioning or changing the brand’s image and the way the brand is perceived by customers in the marketplace by using the 4 Ps of marketing.
Your client has asked you to draft the goals of the marketing plan by suggesting how to use the 4 Ps of marketing that will help reposition the brand in the marketplace. The client wants a brief PowerPoint presentation to help brainstorm the interaction of the 4 marketing Ps and other ideas with the company’s marketing team.
The presentation will help everyone on the team understand how to apply the 4Ps of marketing to a brand by developing 2 objectives for each marketing P that can be used in the final marketing plan. Analyze how the marketing Ps will help reposition your selected brand.
Create a PowerPoint presentation of 7–8 slides showing the goals of the marketing project by illustrating 2 objectives for each marketing P. Explain your ideas for each P by writing at least 100–150 words per slide of speaker's notes. The presentation should include the following:
- Slide 1: Product Overview
- Briefly explain the company and brand you are working on. Add a picture of the brand to the slide.
- 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?
- Slide 2: Competition
- Identify 1 competitor of this brand. Add a picture of the competitor brand.
- Explain 1 reason why this brand is a competitor of your client’s brand.
- Slide 3: Product Objectives
- Draft 2 objectives of the marketing plan to show how productcan be applied to your brand. Examples are as follows:
- Objective 1 could include a statement about the features of the product and the benefits of those features for the customer.
- Objective 2 could include a new product satisfaction guarantee policy that can be communicated in the advertising message.
- Slide 4: Price Objectives
- Draft 2 objectives of the marketing plan to show how pricecan be applied to your brand. Examples are as follows:
- Objective 1: One goal of the price marketing Pcould 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.
- Objective 2: You could competitively price the product against its competitors for maximizing market share.
- Slide 5: Place Objectives
- Draft 2 objectives of the marketing plan to show how placecan be applied to your brand. Examples are as follows:
- Objective 1 should be designed to find as many distribution outlets as possible for the product.
- Objective 2 could be to introduce the product in an online capacity to gain market share.
- Slide 6: Promotion Objectives
- Draft 2 objectives of the marketing plan to show howpromotion can be applied to your brand. Examples are as follows:
- Objective 1: One objective on promotion is to find a creative and different targeted message that “speaks” to the target customer segments, attempting to show how much better one brand is over the competition. For example, one message could be to explain the quality of the brand over the competition.
- Objective 2: Another objective of promotion could be to create advertising campaigns that reinforce the brand for the customer. For example, a special promotion offering a 25% discount on the first online purchase is another way to advertise and promote the product for increased brand awareness.
- Slide 7/8: Conclusions
- Write a paragraph about your understanding of how the 4 Ps are linked for this particular brand.
Please submit your assignment.