Reference no: EM131174674

The purpose of this assignment is to synthesize your learning and apply concepts, models, and psychological theories to consumer behavior and marketing strategy. You are in a creative role and a critical thinking role. The assignment has the mission of introducing you to the work of the marketing strategist as a consultant, as a creator, as a planner, and as a researcher.

Selection. Select a product or service (referred to hereafter as product) that strongly interests you.

Imagination. You are hired as a consultant with a very large marketing budget. Your task is to make this product rapidly successful.

Organize your Plan. In an orderly, logical, and well-organized paper, address the following items that will build your strategy for marketing this product. You do not need to follow the order of the items as mentioned; part of your task is to arrange these topics in a way that follows the logic of your strategy for this product. Not all of the following considerations will apply to your product marketing strategy, but most will. You will want to select a manageable number of these items; a maximum of eight items should be sufficient to develop a meaningful strategy.

• Describe the product in detail. Make the reader "see the product" and "feel the service."

• Which are the targeted market segments? Two will be sufficient. Explain. What research went into determining these segments as the best ones?

• How will you position this product? Which brand image and brand equity will you develop?

• How will you motivate the consumers in each segment to buy? What perceptions, memory, and learning concepts will be useful to enhance the attractiveness of the product?

• What decision making rules do you foresee for these consumers?

• What problems will these consumers likely face when considering your product? How will you resolve these problems to free the consumers to purchase?

• Which attitude models will apply to your product and market segments? How can you facilitate attitude change?

• Which subcultures are particularly attractive as market segments? Why?

• Are there environmental and "green" issues to be addressed? Which ones? How will they be addressed?

• Which family types and household types will more likely be interested in your product? Why? How will you reach them?

• Which consumer lifestyles will be most likely to consider purchasing your product? Bring VALS System and/or PRIZM to bear on your analysis.

• Which outlets will be more suitable for your product?

• How will Diffusion of Innovation affect your product? What can you do to increase the word-of-mouth and the effectiveness of taglines?

• Can organizations be buyers of your product? What special promotions would you consider to entice organizational buyers?

• What are some of the post-purchasing issues that can hamper or enhance the rapidity of repeat sales of your product? How will you treat dissatisfied or disappointed customers?

Your marketing strategy should be 3000 words, excluding cover page, reference list, and appendices.. Editing is a good skill. At least nine references must be included. APA format for this paper.