Target Retail Corporation: Please help me get unstuck. My goal is to create a marketing plan that attracts more students and Gen Z/Millennials to shop at target by using its online app.

Marketing Information and Research (Assignment: Marketing Plan, Part 3)

Research Question

Describe an important question you need to answer or a problem you are trying to solve in order to help the organization meet its goals and objectives.

Information Needed

Describe the information your organization needs to make effective decisions about how to answer this question or solve this problem.

Research Recommendations

What research do you recommend in order to provide the information you need? What research method(s) would you use to get the information you need? Will it involve secondary data and research? Primary research such as interviews, focus groups and surveys? Why do you recommend this research approach?

Customer Decision-Making Profile

Identifying the Customer and Problem

Describe a primary decision maker in your target segment: who they are, what they like, how they make buying decisions. Describe the primary problem(s) your organization, product or service will help them solve.

Factors Influencing Customer Decisions

Provide a detailed profile of your target segment using at least three (3) of the following categories:

Geographic characteristics: e.g., location, region, population size or climate.

Personal and demographic characteristics: e.g., age, gender, family size, family life stage, income, personality.

Social and Psychological characteristics: e.g., culture, social class, lifestyle, motivation, attitudes, reference groups, beliefs.

Situational characteristics: e.g., buying situation, level of involvement, market offerings, the frequency of use, brand loyalty.

B2B/organizational buying considerations: e.g., individual factors, organizational factors, business environment factors, types of complexity

Reaching the Customer

Based on this profile, identify 2-3 marketing strategies or tactics you believe would be effective at reaching this target segment, and briefly explain why they are a good fit.

Positioning and Differentiation

Positioning and differentiation explain what you want to be known for in the market, and how you are different from competitors. Respond to the following questions.

Competitive Advantages

List the competitive advantages of the product, service or organization you're focusing on: the things that make it different from competitors in positive ways.

Market Niche and Positioning Strategy

Describe the market niche you want to fill, along with the positioning strategy you recommend using. Why do you think this is the right approach?

Positioning Statement

Develop a positioning statement using this formula: "To [target audience], [product/service/organization name] is the only [category or frame of reference] that [points of differentiation/benefits delivered] because [reasons to believe].

Repositioning Considerations

Do you recommend a repositioning that improves on what the organization has been using up to this point? Why or why not?

Branding (Assignment: Marketing Plan, Part 3)

Brand Description

What is the "brand" you are trying to build? What do people think about this brand today, and how do they experience it?

Brand Promise

What is the brand promise for this brand? If one hasn't been defined yet, create one. If you believe the brand promise needs improvement, please suggest how you would refine it. Why is your recommended brand promise a good fit?

Brand Voice and Personality

Describe your brand voice and personality using the is/is never template:

[Brand] is:

[Brand] is never:

Brand Positioning and Strategy

Make a recommendation about brand positioning and/or branding strategy to help build the brand and contribute to align it with what your target segment wants. How will this contribute to the success of your product, service or organization?

Marketing Mix (4Ps)

Product Strategy

Briefly describe your product or service. Where is it in the product life cycle? What recommendations do you have for improving the offering to fit your target market's needs? Be sure to consider:

What level of quality and consistency does the offering have?

How many features does it have and can they be removed or added?

How well does your product or service deliver what the customer values? How can it improve?

What improvements would help your offering compete more effectively?

Pricing Strategy (Discussion Chapter 11: Stop here this will be due July 18^{th Wednesday})

How is your product or service priced today? How does this compare to competitors, assuming competitors are at or near break-even point with their pricing? Analyze pricing alternatives and make recommendations about pricing going forward based on the following:

How sensitive are your customers to changes in price?

What revenue do you need to break even and achieve profitability?

What does the price say about your product in terms of value, quality, prestige, etc.?

Place: Distribution Strategy

What is your current distribution strategy? What missed opportunities or disconnects are you seeing in this distribution approach? Make recommendations about your future distribution strategy based on the following:

What are the best distribution channels and methods for you to use, and why?

Will you have a retail outlet and if so, where will it be located?

In what geographic area(s) will your product/service be available?