Gb530 unit 3

| August 14, 2017

Introduction:
The
major project in this course is to complete a Brand

Extension
Marketing Plan for one new product on the behalf of an existing for-profit
organization.

Using
the Marketing Plan guide found in Doc Sharing, complete and submit the
following components of your Marketing Plan.

Unit 3
Marketing Plan: Connecting with the Customer

3.0 MARKETING
STRATEGY

3.1 Mission(review
“mission” in Chapter 2)

·
Establish the fundamental
goals for the quality of your business/product offering and customer
satisfaction.

·
Define your business/product offering.

·
What are your fundamental
goals? (Fundamental goals are those that you would like to achieve with your new
product, either as an individual product or as part of the overall company
mission. These are directional goals that provide the overall strategic
direction for management planning.)

·
State the value proposition.
Be sure to look up this term in your Kotler text if you don’t fully understand
it.

3.2 Marketing
Objectives

Include a
sentence or two about each of the following:

·
What are your specific marketing objectives?

·
Market share: what is your growth objective
by quarter?

·
Market penetration: how do you plan to gain a
share in this market?

·
Awareness: how do you plan to gain awareness
for your product?

·
Customer acquisition: how do you plan to grow
your customer base?

·
Identify a specific, measurable market share
and size.

Remember
that your objectives need to be quantifiable. In other words, objectives need
to have a base point, end point, and time frame so you can research to see if
you have reached your benchmarks or if your plan needs adjustment.

1

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3.3 Financial
Objectives:
Skip this section for now. You will do this later.

3.4
Target Markets(refer
again to Chapter 8 of your Kotler text to make sure you fully understandwhat
is meant by target market segments)

·
Identify the specific target
market segments you have defined. What are the market niches you hope to
capture? Describe.

·
Include the rationale behind why these are
the optimal target marketing segments. Be specific.

Submit your response
to the above questions into the Unit 3 Assignment Dropbox.

The components of
your Brand Extension Marketing Plan for Unit 3 are evaluated using this rubric.
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Unit 3 Brand
Extension Marketing Plan Assignment Rubric

Criteria

Possible

Points

Mission

Established
fundamental goals for the quality of your business

5

offering and
customer satisfaction

Defined
your business/product offering

5

Defined
your specific goals for this planning period

5

Objectives

Set
specific marketing objectives

5

Included
market share, market penetration, awareness, and

10

customer
acquisition plan

Identified
a specific, measurable market share and size

10

Target
Markets

Identified
the specific target market segments

10

Included
the rationale behind why these are the optimal target

10

market segments

Content,

Clear
business writing. Spelling and grammar are acceptable

15

2

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Grammar,
etc.

Total

75

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