Reference no: EM135195 , Length: 3590 Words

Marketing Scenarios:

1. Arimount, a well-known beauty and grooming company wants to launch a new deodorant product. The company's development and research department has created a new chemical that will allow deodorants to work for up to 5 days-even after showering. Arimount has been in the hygiene market for 20 years with an average return on investment. They would like to top the market share with this innovative product.

2. Caninantics is a start-up company that has created a new dog food dispensing product that will open canned dog food, dump the food into the dog bowl, and dispense the can. The company wants to start marketing this product and then branch into other canine accessories by the end of the year.

3. Collegiate Fringe is a product developed by a team of girls to show school spirit. The fringe is made in a similar fashion to school spirit shakers and comes in the college's school colors. It can be worn on the bottom of jeans, on the cuffs of sleeves, around the collar of a shirt, and they even have fringe that can be worn as a skirt. Over the past year they sold the "fringe" only on campus. They want to expand their market to other college campuses and believe they should come up with a new product name as well.

Part-1

Choose one of the three products listed in the course project assignment (Marketing Scenarios). Create a name for the product you choose, and create the following components of a marketing plan for the next year. The marketing plan should include:

1. Situational Analysis
2. Marketing Strategy
3. Financials
4. Controls

The situational analysis must include (but is not limited to) a SWOT analysis and information about the top three competitors. Competitor information should be based on research of real companies who could compete with this product.

Support your data with sources no more than five years old. You will be creating the financial information for your company yourself. You may want to look at the example found on pages 60-64 in your textbook. This component of the marketing project is due at the end of Unit I.
You will want to complete this assignment in a timely manner, as there will be a new component added to the project in
each unit.

Part-2

For the second component of your marketing plan, answer the questions listed below. Make sure the information about your company is presented in a professional and error free manner. This component will be due at the end of Unit II, and your answer to eachquestion should be at least 400 words

1. Describe what type of marketing research your company will need to use in order to support its marketing strategy. Create a list of questions or issues that your company will need to settle using marketing research.

2. Describe how your company will examine customer satisfaction, and what will you do to create customer loyalty? You will want to complete this assignment in a timely manner as there will be a new component added to the project in each unit.

Part-3

For the third component of your marketing plan, answer the questions listed below. Make sure the information about your company is presented in a professional and error free manner. This component will be due at the end of Unit III, and your answer to each question should be at least 400 words.

1. To what segments will your company market to, and what variables should be used in these segmentations?

2.Discuss the way your company will address your customers' buying decision process.

Part-4

For the fourth component of your marketing plan, answer the questions listed below. This component will be due atthe end of Unit IV, and your answer to each question should be at least 400words (except for question 2).

1. Discuss what brand elements would be most useful for differentiating your company's brand from competing brands.

2.In a sentence or two, what is the appropriate positioning for your company's product?

3.What factors will you use to determine your company's strategic group, and what competitive strategy would be most effective as your company introduces this new project?

Part-5

For the fifth component of your marketing plan, answer the questions listed below. Make sure the information about your company looks professional and errorfree. This component will be due at the end of Unit V, and your answer to each question should be at least 400 words.

1.Describe how your company will address the five product levels: core benefit, basic product, expected product, augmented product, and potential product.

2.Discuss the primary pricing objective for your company. What are some of the implications of your pricing decisions?

3.Explain what type of packaging and labeling you will use to support your brand image.

Be sure that your ideas support your product and the decisions you have made in the past.
Remember a new component will be added to your project in the following units.

Part-6

For the sixth component of your marketing plan, answer the questions listed below. This component will be due at the end of Unit VI, and your answer to each question should be at least 400 words.

1. How many channel levels are appropriate for your company's targeted business segment? Based on thenumber of channel members, should you use exclusive, selective, or intensive distribution? Why?

2. What types of retailers will your company use for distributing your product? Discuss the advantages and disadvantages of using this type of retailer.
Be sure that your ideas support your product and the decisions you have made in the past.

For the seventh component of your marketing plan, answer the questions listed below. This component will be due at the end of this unit so that you canreceive feedback before you turn in your final marketing plan. Your answer to each question should be at least 400 words.

1. Explain your communication objectives and the communication channels your company will use to influence your target audience.

2. Your company wants a recommendation of an event sponsorship possibility that is appropriate for the new product campaign. What type of event would you recommend, and what objectives would you set for the sponsorship?
3.Discuss two new product ideas that can result from your product, and address the
needs of your target segments.

Project

It is time to finalize your project. You will need to create the executive summary for your marketing plan. The executive summary is a short synopsis telling a bit about your company, your product and what key points your marketing plan covers, and the resources you will use to accomplish your plan. You may want to look at the marketing plan on page 60 in your textbook for an example. This executive summary will actually be placed at the beginning of your marketing plan. You will need to take all the revised pieces of your marketing plan and combine them into one document that includes your executive summary.