Marketing 401 Course Project

| July 29, 2018

For the course project, you will select an organization and submit the name to theprofessor for approval by the topic due date. You will then rely on this document todraft a report on the approved product or service. The questions provided below areto facilitate the structure of your document. You do not need to directly answer eachone of them, but it is recommended that you consider them in your write­up as theyapply to your topic. Be sure to have a title for each of the ten project aspects you elect toaddress.This document must be typed in paragraph form. At least ten of the fourteen subtopicslisted below must be addressed. Each topic addressed should have its own title andsection. It should be very clear to the reader which topic you are addressing.Coverage of each topic should be a minimum of half a page and a maximum of one fullpage. Do not include information that is not required, such as company history or detailedproduct descriptions..Subtopics(Please include your selections from this list in the order presented here.)Environmental analysis—discuss at least three sections, such as economic,demographic, competitive, political/legal, social/cultural, or technologicalIndustry information—discuss overall industry conditions and trends, mentioning buyerbehavior, competitive intensity, and overall growth or decline of the industry.Competitor analysis–discuss the strengths, weaknesses, and strategy of at least twomajor competitors.Corporate mission—discuss what your organization stands for, and its reason forexistenceCorporate analysis and appraisal—analyze your organization’s strengths, weaknesses,opportunities, and threats, and review recent performance and future goalsGeneral marketing strategy—discuss your overall strategy regarding products andmarkets, including your competitive strategyMarketing research techniques employed—discuss the internal and external methodsyou use to gather information on consumers, competitors, and general market conditionsMarket strategy—discuss your use of a single versus multiple market strategy, andmarket entry or exit strategyMarket segmentation strategy—discuss the categories of customers do you serve, andwhat are they based on demographic, geographic, or behavioral (psychographic)dimensions, including commercial versus consumer segmentsPositioning strategy–discuss how you project a unique image to consumers anddifferentiate yourself from your closest competitorsProduct analysis and strategy—discuss the various products in your product mix,including market leaders, and those in the growth or decline stage of the product lifecyclePricing strategy—discuss your use of profit maximization, target return, penetration,competitive, or skimming pricing strategyPromotion strategy—discuss the elements of your promotional (integrated marketingcommunications) mix and recent adjustments to them based on changing marketconditionsDistribution strategy—discuss your methods of physically distributing your product tovarious customers and markets, or of reaching various customers with your service(intangible) offeringThe following questions, arranged by topic, may assist you in addressing that topic.If you use them, do not include the question in your project document, just yourresponse written in conversational paragraph format.Environmental AnalysisDiscuss the environment in which your organization operates?What major environmental forces affect or will affect you?Which aspects of the social-cultural environment most affect your organization?How will you conduct environmental scanning?Industry InformationDiscuss the nature of your industry.What is the current climate in your industry?How would you describe the future of your industry?What entry or exit barriers exist in your industry?Competitor AnalysisBriefly analyze an important competitor in terms of strategies, objectives, strengths andweaknesses.Discuss the various classes of your competitors, mentioning names.Discuss the intensity, or degree, of the competition you face.Corporate MissionHow would you define your organization’s mission?Discuss your value orientation—what you intend to deliver to consumers.Corporate Analysis and AppraisalExplain how you would go about conducting a corporate appraisal.What would you list in an analysis of your organization’s strengths and weaknesses?How do you measure past performance?How will you measure strategic performance?Discuss the organization of your organization’s marketing function.Discuss your marketing function’s relations with other areas of the organization.Discuss your strategy for building a company-wide marketing orientation.How will you evaluate and control your total marketing effort?Select several key items of importance that you would want to examine in a marketingaudit.General Marketing StrategyDiscuss several important strategic planning initiatives facing your organization.Discuss your growth strategy.What goals are important to you at the present time?What strategic alliances make sense for you now or in the future?How will you seek to acquire a competitive advantage?Analyze/discuss your corporate strategic direction.How have you organized for strategic effectiveness?Discuss your product/market objectives.Discuss your system for implementing marketing strategy.Marketing Research Techniques EmployedHow do you monitor industry trends?How do you monitor consumer needs and behavior?How will you determine industry sales and market shares?Discuss your competitive intelligence system.Market StrategyDiscuss your use of a market-scope strategy—do you serve the full market or just part ofit?Discuss your use of a market-geography strategy—are you local, regional, national orinternational?Discuss your use of a market-entry strategy—explain your decision to enter a newmarket.Discuss your use of a market-commitment strategy—how do you decide which marketsyou will commit to and how you will do it.Market Segmentation StrategyUsing one product or your entire organization, discusses your level of marketsegmentation.Positioning StrategyDiscuss your product positioning strategy.Discuss your product re-positioning strategy, if relevant.Product Analysis and StrategyHow will you define your market boundaries? Will you define the markets you will serveby function? By technology? By customer type?Discuss your use of a product overlap strategy—can two of your products serve the samecustomer in the same way?Discuss your use of a product elimination strategy.Explain the marketing strategy you do or would employ, based on the life cycle stage of aproduct/service.Discuss your new product strategy.Explain your diversification strategy.Discuss your product portfolio (use the product portfolio matrix approach).How does or might your organization use line or brand extensions?Pricing StrategyWhat will be your immediate pricing strategy?What factors determine your organization’s degree of price sensitivity?Discuss your various products’ elasticity of demand. How sensitive sales of yourproducts to a change in price?Which pricing strategy will you select?What methods might you employ in adapting your price?Discuss your use of a price-flexibility strategy. Do you charge different customersdifferent prices for the same products?Discuss your use of a product line-pricing strategy. How does the price of one item inyour product line affect the prices of other items in the line?Discuss your use of a bundling-pricing strategy. Are any of your products available as abundle for one price?How would you respond to a competitor’s price change?Promotion StrategyDiscuss your promotion mix strategy, including media advertising, personal selling, salespromotion, and public relations/publicity.Explain the factors that do or will influence your promotional strategy.Discuss your advertising copy strategy.How will you measure the results of your advertising effort?How will you set media timing, and decide on the geographical allocation of youradvertising?What purposes are hopefully served by your sales promotion efforts?Which consumer promotion and/or trade promotion tools do you use?Discuss your personal selling strategy.Discuss your sales force structure.Discuss your sales force size and method of compensation.What factors are considered when recruiting and selecting sales representatives?Discuss your efforts at training and supervising sales representatives.How do you motivate your sales representatives?How do you evaluate your sales representatives?Distribution StrategyDiscuss your channel-structure strategy, including channel length and types ofintermediaries.Discuss your distribution scope strategy. Local? Regional? National? International?Discuss your use of a multiple-channel distribution strategy.How will you determine the number of intermediaries to use, and the responsibilities ofchannel members?How might product life cycle stage influence your decision to modify channelarrangements?Do or could you use multiple channels of distribution?Discuss possible examples of channel conflict, their causes, and how you will managethem.What legal or ethical issues might arise regarding your channel relations?

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