Reference no: EM133527161

Introduction: You have likely heard the expression, "Failing to plan is planning to fail." Nevertheless, many companies act without having a solid plan in place. Kotler et al. (2022) state that a marketing plan communicates the proposed course of action to relevant entities. Moreover, "to be effective, the marketing plan must be actionable, relevant, clear, and succinct. Once developed, the marketing plans must be updated to remain relevant" (Kotler et al., 2022, p. 49).

Case Scenario: Choose one of the scenarios below for this assessment:

Adaptive Sports Equipment Global (ASEG) Corporation* (A brand new ASEG startup.) Several years into the planning, the ASEG startup is now becoming operational. The founders are engineers and managers who are sports enthusiasts that wanted better clothing and gear to pursue their sports passions. Besides hiring based on specific qualifications for the particular job, they only hire athletes and weekend sports enthusiasts who use various types of sporting gear and clothing in their personal lives and can relate to the user. They have 46 employees to date. They allow the first two weeks at the company for intensive training and have the new hires using their company's gear to become thoroughly familiar with the product. Whatever feedback they get from users, they funnel into the production and design to make improvements. All production is done within the United States (U.S.) The founders want to keep the company relatively small in staff, but with a global market. The headquarters is located outside of Pittsburg, PA. The headquarters building and production facilities (which predominantly use robots for actual production work), and large warehouses are Green Seal® and LEED certified®*(Green Seal; BuidingGreen, 2019). The company is committed to planting many trees yearly to offset the production's carbon emissions. Most products are currently sold directly to customers through the company website. The company's current mission is, "We make quality clothes and equipment that we sell to active people anywhere that adapt to the terrain and climate sustainably." According to the executives of ASEG, the objectives are: Create sustainable clothes that adapt to temperature variations and weather conditions in a sustainable manner; Design and produce sports equipment that will adapt to (1) differing terrains and climates, as well as (2) adapt to different sports and (3) provide excellent performance. Product line 1. Sports Equipment: Winter sports (skiing, snowboarding, winter climbing, skating, ice hockey, etc.) and shoes or boots that apply. Product line 2. Sports Equipment: All other sports: Sailing (and parasailing), surfing, tennis, golf, rock climbing (and indoor gym/parcourse, etc.), and footwear that fit those sports. All equipment comes with a free return label when the person has finished with the equipment so that it may be recycled. For instance, cracked wooden surfboards from the impact on rocks can be sent back to ASEG. The company then recycles the components to make new surfboards or repairs them, and donates them to third-world areas or poorer countries where sports equipment might be considered unattainable economically. Most sales have been through the company website; however, ASEG is open to new distribution opportunities. ASEG has hired you as a marketing consultant/acting manager for a new, proposed product line. Proposed Line: Apparel: All sports clothing lines, including hats, helmets, vests, and jackets (male and female lines). All equipment and apparel are either compostable or can be recycled and, in some cases, have a multi-use function. For example, a jacket that turns into a tent. You have just been hired to develop the key components of a marketing plan. *Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental. This exercise may include actual companies and brand names solely for instructional purposes; this exercise is not associated with any such existing company or brand name. All trademarks remain the property of their respective owners.
Part 1:

Describe a market-oriented mission statement using the five major characteristics suggested by Kotler et al. (2022).
What would be a brief situational overview.
Analyze the industry using Porter's five forces model.
Apply the four additional forces from the readings as noted by Isabelle et al. (2020). See the article in the reading area, "Is Porter's five forces framework still relevant? A study of the capital/labour intensity continuum via mining and I.T. industries."
Create five strategic goals using the SMART acronym.
Determine the three characteristics of an SBU to the new product/product line. Discuss whether you characterize the portfolio as specialized or diverse.
Part 2:

Determine the difference between strategy and tactics.
Prepare the target market using the 5Cs framework. Illustrate the 5Cs similar to Figure 2.2 in the text.
Describe the 3V elements of the market value principle. Design the 3V market value principle similar to Figure 2.3 in the text.
Design the seven tactics (7Ts) defining the marketing offers similar to Figures 2.4 and 2.5 in our text.
Develop an implementation strategy by outlining a process for developing resources, the market offering, and deploying the offer to the target market.
Describe how you will demonstrate at least three key performance metrics against established goals.
Example of an executive summary for this. You may use this as the first slide of your presentation.