23 Jan o Use the 4Ps of marketing to

MKT501 Strategic Marketing

Module 2 – Case

PROMOTION MANAGEMENT & SWOT ANALYSIS

Assignment Overview

The Marketing Plan: GAP Analysis

Every business should determine its own standards for success when evaluating the attractiveness of a market, since every industry has its unique circumstances. Criteria that influence Segment Attractiveness include:

• Market Growth (Market Size, Growth Rate, Market Potential)

• Competitive Intensity (Number of Companies, Ease of Entry, Substitutes)

• Market Access (Customer Familiarity, Channel Access, Company Fit)

While benchmarking based on criteria is beneficial in capturing the qualitative aspects of a market situation, the profit potential must also be assessed for all segments deemed attractive based on their market attractiveness indexes.

Segmentation Application

• Provide a brief description of your chosen product/service. (This should be used throughout the class.)

• Analyze customer needs for the target product

• Discuss Segmentation Strategies based on two real competitors’ market position

• Devise a niche marketing strategy that would be appropriate for your company’s product.

Gap Analysis, Benchmarking & Competitive Advantage

• Implement a Gap Analysis of Two Competitors. Discuss how the findings would be used.

• Develop Competitor and Competitive Benchmarking.

o Competitor benchmarking involves identifying a business’s main competitors and then comparing itself against them in key performance areas. Competitive benchmarking involves going outside a business’s market or industry to study a company that excels in an area where the business is deficient.

• Devise Strategies to Achieve Competitive Advantage for the Company

This is the main part of the assignment and requires extensive critical thinking. Do not rely on summarizing information; instead explain based on the definition of each virtue and vice how they apply to your chosen leader. Use your library articles to provide support for the analysis. Use the template and divide your paper into clear sections with headings based on each of the virtues and vices you are discussing.

Using articles primarily from Trident Online Library’s full-text databases (like Academic Search Complete, Business Source Complete, and/or ProQuest Central), research the chosen topic and create a well-balanced 4- to 5-page submission that demonstrates evidence of critical thinking. Remember that this means your paper should not be just a summary of the articles and book chapters that you read, but rather an in-depth analysis that is supported by quality, professional, and graduate-level research.

Do not use any quotations. Since you are engaging in research, be sure to cite and reference the sources in APA format. The paper should be written in third person; this means words like “I”, “we”, and “you” are not appropriate. For more information see Differences Between First and Third Person.

Use the attached APA-formatted template (MKT501 Case2) to create your submission.

Assignment Expectations

Your submission will include:

• Trident University International’s cover page

• A 4- to 5-page paper with APA citations (2- to 3-sentence introduction, body and 2- to 3-sentence conclusion)

• The reference list page in APA format

MKT501 Strategic Marketing

Module 2 – SLP

PROMOTION MANAGEMENT & SWOT ANALYSIS

Successful Messaging

It is important to understand what you are selling before you can craft messages to target specific markets. The marketing “P” for product defines the features and benefits of the product that explains why a customer should buy your product. Product (or service) strategy is a guiding step in the overall marketing plan.

Your product line presentation to senior management will take place via video conferencing. You will need to prepare a PowerPoint presentation and an accompanying script in Word for the meeting.

Launching your Product

Your PowerPoint presentation and accompanying script will include the following:

• Company Competition—Develop a SWOT analysis to graphically depict your company’s current competition. Explain the SWOT in words.

• Segmentation—Consider who is interested in your product. Identify the type of customer groups interested in the product and why.

• Targeting Customers—Based on the product offering and customer segments, describe what customers segments you will serve and why.

• Product Positioning—Determine your positioning strategy for the product. What image do you want to project to your customers and prospects? How will you appeal to your selected customer segments?

o Use the 4Ps of marketing to help with this. For example, will we differentiate the price based on quality and value? Where will we distribute the product? For example, is your product distinctive, unique, or the best quality for the price? Write your positioning statement for the product.

• Customer Lifetime Value—How will you build customer lifetime value for the company based on your product marketing strategies?

SLP Assignment Expectations

Please submit your assignment.

Two files will need to be uploaded.

1. SCRIPT: A Word document using the attached template (MKT501 SLP2 Script). The Body of the Word Script must be at least 1000 words. Be sure to cite and reference your resources in the Word Script.

2. POWERPOINT Presentation of at least 15 slides in length