MKTG 1100 - Principles of Marketing MIDTERM

MARKETING STARTS WITH STP: SEGMENTING, TARGETING AND POSITIONING

Students' Product Instructions and Outline

(Students must chooseonly onetopic below!!!)

Marketing Strategy ProjectSTPchoice topics:

#1 - New Musical Group

#2 -New Feature Movie

#3 - New Television Show

#4 - New product or service (think "Shark Tank")

#5 - Existing product or service (will require more research!)

Note to Students:Conduct a "Brainstorming" session in which you choose a topic from those listed above. In your session, you should answer all statements and questions in all three sections of the Marketing Strategy Project outline below. Good Luck !!!

Marketing Strategy Project Outline

Section #1.Segmenting Your Product Market

1. Current product identification and information (name, location, size logo, symbols, insignias, models, etc.)
2. Product's philosophy, climate, and culture (mission statement)
3. Short-term and long-term goals
4. Demographics (age, sex, income, occupation, lifestyle factors, activities, interest, values, etc.)
5. Present market size (where are your customerspercentage of market you want to captureand why?)
6. How to increase market share (describe your market growth potential)

Section #2. Targeting Your Product Market

1. Primary target market (main consuming group)
2. Secondary target market (additional sales potential
3. Product life cycle (describe anticipated adjustments in the marketing mix - changes through the stages)
4. Supply five different and potential promotional vehicles
5. Advertising detail schedules
6. How are you going to generate publicity?

Section #3. Positioning Your Product Market

1. What is special about this product?
2. List and describe its features and benefits.
3. Explain the image and character you would like your customer to see.
4. Describe and provide your three closest competitors' activities.
5. Analyze your product's opportunities and threats in the market. Include a SWOT analysis.