Differentiation strategy in relation to closest competitor

Assignment Help Marketing Management

Reference no: EM13739640 , Length: 8

To conclude your marketing plan, in Assignment 3, you will describe the company's, marketing strategy, implementation strategy, expansion plan, social media strategy, monitoring methods, and integrated marketing communication strategy.

Write a six to seven (6-7) page paper in which you:

1. Develop the company's branding, pricing, and distribution strategy.

2. Provide the following marketing strategy information:

a. Classify the company's major competitors as inter- or intra-competitors. Categorize the competitors' major strengths and weaknesses.

b. Develop the differentiation strategy in relation to the closest competitor.

c. Establish whether the company's intention is to be a leader or follower within the industry.

d. Assess the level of impact that the salient macro-environmental issues (e.g., legal, technological, social, and economic, etc.) and trends with which the company must contend could potentially have on the company's marketing strategy.

e. Discuss the marketing research tools that you used in your marketing strategy.

3. Construct an implementation strategy for your hypothetical company in which you specify the essential activities and responsibilities. Include a timetable for completion of each component of your strategy.

4. Develop a five (5) year expansion plan that includes future profitability and market share growth. Include necessary graphs to explain your plan.

5. Specify two (2) social media and / or media tools that you would use as you develop your plan. Justify each of your chosen tools.

6. Choose two (2) performance standards, two (2) monitory methods, and two (2) financial controls that you would implement that differ from the standards that you had provided in Assignment 1. Justify your choices.

7. Assess the potential for your company's overall performance in relation to the marketing plan objectives.

8. Suggest the integrated marketing communications that are most relevant for your marketing plan. Relate each marketing communication to your company's advertising strategy.

Use at least five (5) academic resources that address sustainability and monitoring of effective marketing plans and determine the applicability for your hypothetical company. These resources should be industry specific and relate to your chosen product / service.

Reference no: EM13739640

Questions Cloud

What determines the value of money-what backs money supply : What “backs” the money supply in the United States? What determines the value (domestic purchasing power) of money? How does the purchasing power of money relate to the price level? Who in the United States is responsible for maintaining money’s purc..

Define the three broad purposes for performance management : Define the three broad purposes for performance management, and provide an example of a situation that relates to each purpose.

Explain this first great period of globalization : discuss how your own individual life has been impacted by the Columbian Exchange. What kinds of things do you take for granted that are a direct result of this first great period of globalization?

Evaluate the code of ethics : In this assignment, you will learn to critically evaluate the code of ethics practiced in the corporate world.

Differentiation strategy in relation to closest competitor : Develop the differentiation strategy in relation to the closest competitor - Develop the companys branding, pricing, and distribution strategy.

Explain main economic growth theories-economic systems : Describe the key structural differences between the economies of the United States and China. What are the main sources of economic growth in each of these economies? How do these differences impact the countries' economic growth rates? Identify and ..

Create your project communication plan : This week you will create your project communication plan. The Communications Planning process determines the information and communications needs of the stakeholders

How much money should he now set aside in the trust : A rather wealthy man decides to arrange for his descendants to be well educated. He wants each child to have $60,000 for his or her education. He plans to setup a perpetual trust fund so that six children will receive this assistance in each generati..

Briefly describe google its mission and its business model : Google is widely known for its workplace creativity and innovation within the technology field. Briefly describe Google, its mission, and its business model

User Account

All Pages