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The second group report is focused on applying course concepts to create a viable and effective marketing strategy for your company. Business strategy is often

The second group report is focused on applying course concepts to create a viable and effective
marketing strategy for your company. Business strategy is often conceptualized at the level of
the business division so for report 2 you will first start by picking among one of the business
divisions in your company (note: some companies may only have a single business division). At
the level of the business division, what can the company do, to ensure future success in a
competitive marketplace?
1. Introduction State what business division of your company you are focusing on. Make
sure that it is B2C (the business division has at least one product/service which consumers
can purchase). Refer to the lecture where we went over how to find your business
division.
2. STP The first thing you will need to do is to identify who will be your customers. As
part of the STP process we first start with the entire population of potential consumers and
then we identify market segments, choose a target market and develop a positioning
strategy for that target market. For this report, you will follow the 5 steps in STP as laid
out in Chapter 6 of the textbook and the Chapter 6 lectures.
Segmentation:
Step 1-Objective/business strategy
Step 2-Segmentation bases Clear state your overall strategy/objectives. Identify relevant
segmentation bases with justification. Using a good mix of segmentation bases, identify
several viable market segments for the business division. Stronger groups will provide
secondary research as support/justification for market segments identified.
Targeting:
Step 3-Evaluate market segments on Segment attractiveness on the basis of: Identifiable,
Reachable, Substantial and Profitable and Responsiveness.
Step 4-Select a single target market for the report with clear reasoning and justification. If
you would have recommended a different targeting strategy, you can mention it here.
However, for the purposes of this report, coming out of stage 4 you should have picked a
single market segment to focus on as your target market.
Positioning:
Step 5-Identify and develop a positioning strategy for your business division that you
believe will best resonate with your target market. Be sure to provide a clear explanation
for why the specific positioning strategy was chosen, as well as why this positioning will
be competitive in the market. As part of this section, be sure to provide rationale,
justification and/or support for the positioning strategy (this could include a positioning
statement, value proposition, a perceptual map and/or external research to support
positioning).
3. Marketing Mix Now that you have a target market and positioning, it is time to build
your marketing mix. The marketing mix will describe the 4Ps. Refer to the specific
chapters for each of the 4Ps for more information. Page 67 of your textbook provides an
example of the marketing mix; however, you may find that you will need to include
additional information to meet the requirements for this assignment. Each component of
the marketing mix will be evaluated on the strategic elements proposed as well as
their justification and rationale. It is not enough to simply state the strategy without
providing justification. As you are creating your marketing mix, be sure to keep in mind
the important work you did in the previous section relating to your target market and
positioning. Every element of the marketing mix should be consistent with your target
market and positioning strategy.
Product: Discuss the overall product strategy for the business division. As part of this
section, you can discuss the complexity/type of product(s), the product mix breadth and
depth, as well as branding. A business division will oftentimes have multiple
products/brands in its portfolio. Which do you think the business division should
prioritize? You might also want to consider if there are any gaps in the product
assortment that you believe could be filled with a new product/service.
Place: It is important to realize that place is not just about locations, but also about
distribution channels. Retail companies can also discuss retail strategy. As part of this
section, you can discuss the channel structure, channel strategy and distribution intensity.
Price: Discuss your overall pricing strategy. As part of this section, you can discuss the
pricing method, the pricing strategies and any pricing tactics that you will be using.
Promotion: Discuss your overall promotions strategy. Will you be making use of an
integrated marketing communications campaign? What types of promotion will you be
using? This section should answer the question of how you will communicate and appeal
to your target market.
4. Conclusion Very short conclusion to end the report.
The page limit for Report 2 is 10 pages double-spaced

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