MKT 202 TERM PAPER GUIDELINE

MARKETING STRATEGY REVIEW

In order to grow and sustain any business, a sound marketing plan is of vital importance. The right marketing plan identifies everything from 1) who your target customers are to 2) how you will reach them 3) how you will retain them so they become loyal and repeat customers.

Done properly, your marketing plan will be the roadmap to get customers and dramatically improve the success of your organization.

The components that must be addressed in this group project include:

Marketing mix elements:

2.1 Product: Explain the product details.

2.2 Price: a) Price of the product for various sizes and types of products (Use a table for 2.1 and 2.2a to provide product and price details together)

b) Pricing Strategy used for the types of products it sells.

c) Does the pricing strategy need any revisions for the segment the company is targeting?

2.3 Promotion: Through what medium is this product advertised (on TV, radio, newspapers, magazine/social media)? Any current promotional offers?

2.4 Place/distribution: How is it distributed? (exclusive, selective or intensive)? Explain.

Section 3:

3.1 Type of the product/service: What is the type of consumer product (convenience/ shopping/ specialty/ unsought)? Why so? Justify.

3.2 What is the type of consumer buying behaviour: (complex/dissonance reducing /habitual/variety seeking)? Why so? Justify.

Section 4

Marketing strategy:

4.1 Target customers: Who are they? What is their demography?

4.2 Market segmentation: How does the company segment the market for this product? (benefit/geographic/occasion/behavioral/psychographic/income/gender/age/life-cycle or a combination). Justify the reasoning behind it.

4.3 Market targeting: What kind of market targeting does the company follow? Explain.

4.4 Differentiation: Justify how your company/product is providing value to the customers differently.

4.5 Positioning: How is the company positioning its products (5 value propositions- which one is it using?)