Reference no: EM133592821

Assignment: Project Guidelines

Overview

In this course, you will select a Fortune 500 company from a list provided and then select a consumer market segment that the company targets. With a focus on this segment, you will conduct analysis on the consumer behavior of this group and then make marketing recommendations on how to best reach them at various points in the buying cycle. You will need to consider who this segment is, which products would be most likely to appeal to them, and how the company should most effectively market to them.

This assessment addresses the following course outcomes:

A. Analyze marketing research for informing promotional approaches and strategies for a specific market

B. Create messaging and promotional elements that effectively apply marketing mix principles for reaching specific target markets

C. Evaluate the impact of consumer behavior on the development of focused one-to-one marketing campaigns

D. Evaluate segmentation approaches for informing the selection of effective marketing strategies

E. Analyze the stages of the consumer buying process for their implications to develop sound marketing strategies

The project is divided into three milestones, which will be submitted throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Three, Four, and Six. The final marketing research brief will be submitted in Module Eight.

Prompt

First, select an existing Fortune 500 organization from the following list: Coca-Cola

In this scenario, you have been named vice president of marketing for your selected company. You have been told to choose one of the consumer segments the company targets and conduct an analysis of the buying behavior of that group. After you complete your analysis, you will need to present your proposed marketing strategy based on your analysis to the executive team.

Your presentation must address the following prompt: Select a consumer segment and develop a set of marketing strategies to reach this group at the different points in the buying cycle. The final deliverable for this assessment will be a presentation that includes detailed speaker notes explaining each slide.

For help with PowerPoint and preparing your slideshow, visit the training resources located in the Module Resources section of this course.

Specifically, the following critical elements must be addressed:

A. Market Research

Select a consumer segment that your company serves, and describe why this segment is worth pursuing.

1. Identify and qualify research sources that can be used in obtaining information on consumer behavior.

2. Analyze the characteristics of the chosen consumer segment using secondary research.

B. Segmentation

This section is where you will apply the information gained from your market research to your identified market segment.

1. Identify the various segmentation strategies that your selected company uses to divide the market. Be sure to consider the overall market for your chosen brand.

2. Select the segmentation strategy(s) to create your market segment, and explain why the strategy(s) would be effective.

3. Describe the consumer segment you have selected. Explain why they are a good fit for the product.

4. Determine the research needs for this segment, and provide rationale for each need.

C. Consumer Buying Process

1. Define the stages of the consumer buying process.

2. Analyze a marketing strategy that can be used for each stage of the consumer buying process in regard to your chosen market segment.

3. Determine the specific stages of the consumer buying process for which your marketing strategies can be most effective for your consumer segment.

D. Marketing Strategy

The goal of a marketing strategy is to increase sales and stay current with how a market is behaving. Present this strategy in a way that communicates why this strategy will be effective, and defend your claims. Remember that when creating a presentation, you should ensure that the elements used display a level of professionalism and do not distract viewers from the key points being presented.

1. Overall marketing campaign

I. Define the goals of your marketing campaign for your segment.

II. Determine channels through which you will market the product to your segment. Justify your response.

III. Develop a messaging strategy, including sample messaging, for each channel you identified.

2. One-to-one marketing campaign

I. Define one-to-one marketing, and describe how you will incorporate it into your overall marketing campaign.

II. Describe which stage(s) in the consumer buying process would best lend itself to one-to-one marketing.

III. Determine a one-to-one marketing strategy that would work for the stage(s) you identified and explain why it aligns with your segment.