How product serves wants and needs of each target segment

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Reference no: EM131565622

Assignment

Paper 1

3 page executive report that analyzes the global market potential for Honda Accord, evaluates the likely effectiveness of a marketing strategy in a global marketplace, and explains how a global market plan aligns with a company's strategic direction.

Conduct a brief study of marketplace needs related to your product. Choose two international markets in addition to your own and look for any variations that may exist in terms of target market segment, customer needs and expectations, and culture.

• Analyze the role of external factors on global marketing decisions.

- Identify the factors in global markets that need to be considered.
- Explain how these factors (culture, political climate, economics, and so on) will affect marketing decisions.
- Explain the international laws that must be considered when marketing globally.

• Evaluate the effectiveness of current marketing strategies and methods in a global marketplace.

- Explain how current strategies and methods relate to the target demographic. Will the same strategies and methods be effective in different global environments?

- Compare the use of digital marketing and social media between the international markets you selected and the United States.

• Recommend a new approach to global marketing.

- Explain how the new approach aligns with the company's strategic direction

Paper 2

3 page report that evaluates the marketing mix for Honda Accord and the effectiveness of the marketing communication strategy across the marketing mix. Identify a weak point in the marketing mix.

• Evaluate the marketing mix for the product you selected. ?Analyze the pricing strategy for the product. How does the pricing align to the company's overall pricing strategy? How does it compare to competitors? Where does it fall in the market-at the high end, as a midrange product, or as the low cost alternative?

- Analyze the channels of distribution. How does the company move its products to market? How effective are the logistics? Do the channels fit the image of the product you selected? Is the company missing any productive channels? How might the company gain better penetration in existing channels?

- Analyze the marketing message. How does the company deliver its message to the marketplace? To what extent does the company integrate print, media, and Internet efforts in its marketing? In what manner does the company use social media to support its marketing efforts?

• Evaluate the effectiveness of the company's marketing communications strategy across the marketing mix. ( focus on the strategy for your product.)

• Identify one aspect of the marketing mix that you see as a weakness in terms of the product. Explain why this is a weakness and include specific examples from the company's current marketing activities.

Paper 3

3 page executive report that analyzes target market segments, evaluates the effectiveness of a marketing strategy, and recommends an alternative strategy for Honda Accord

• Analyze the target market segments in relation to the product.

- Identify the market segments (at least 2) you believe would be effective to target for the product.
- Explain how the product serves the wants and needs of each target segment.
- Evaluate the growth potential of the product within each target segment.

• Evaluate the effectiveness of the company's current marketing strategy being used within each target segment.

- Provide examples of how the strategy is and is not effective.

Based on your analysis, recommend an alternative strategy that would better position the product for each target segment.

- Explain the types of challenges the company is likely to face in trying to reposition the product and change customers' perceptions of the product.

- Explain the importance of branding/positioning in an effective marketing strategy.

• Support your recommendations with marketing theories, models, or principles.

Reference no: EM131565622

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