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Marketing Plan Audit/Analysis – A major outcome of the course is that you are able to “analyze the marketing mix and interpret the major decisions each component involves.”
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Get Help Now!Objective: The objective for your final project is to demonstrate an understanding of marketing concepts and their application by providing an overview of a marketing strategy for a tangible consumer product. The intent of this assignment is to analyze a specific “Made in Michigan” product that is currently sold to consumers. Your grade will be based on the thoroughness of your analysis (including the use of critical thinking skills) and the logic of your conclusions and recommendations. Mechanics (grammar, spelling, punctuation, APA format) and structure (paper, paragraph and sentence) are important.
Think of yourself as a marketing consultant that has been contracted by your selected “Made in Michigan” company to analyze and fine tune their marketing plan. Make valid attempts to get factual information from the company. If impossible, please use your best marketing judgements to fill in the blanks
on’t forget to cite any primary or secondary resource you use according to APA standards for my validation. .
The final paper must include each of the items as subheadings.
- Phase one (2-3 pages)
Business/Product Mission
Research your “Made in Michigan” product to find its “Mission Statement”. An in depth looks at the organization’s website, annual statement, or other materials will reveal the business the owners want to be in.
Marketing Plan Objectives
Through observation and research using the organization’s web site, annual statement, or other sources, state the organization’s marketing objective with this marketing plan.
S.W.O. T. analysis
Conduct a Situation Analysis in which you identify the organization/product’s internal Strengths, Weaknesses, and their external Opportunities and Threats.
- Phase two (2-3 pages)
Target Market
Define one target market for this product using all bases of segmentation described in the textbook. Remember that a target market description describes the people in the target market. Product descriptions do not belong in this section.
- Geography
- Demographics
- Age (provide a specific age range)
- Gender
- Income (provide a specific income range)
- Ethnicity
- Family Life Cycle (provide marital and family status)
- Psychographics
- Personality (describe at least three distinct personality traits that apply to this group of people)
- Motives (describe at least three distinct motives that apply to the this group of people)
- Lifestyles (describe at least three distinct lifestyle traits that apply to this group of people)
- Benefits Segmentation (describe at least three benefits sought)
- Usage Rate Segmentation
For each section above, provide detailed information to convey understanding of the concepts applied. Use subheadings or a table to separate each item listed above. Bullet points may be used but need to be detailed and clear.
- hase 3 (2-3 pages)
Product Strategy
Choose the Product Classification that defines this product based on the previously defined target market. Explain your rationale. Choose between Convenience Product, Heterogeneous Shopping Product, Homogenous Shopping Product, Specialty Product, or Unsought Product.
- Describe the Branding used for this product.
- Does this product use family and/or individual branding? Explain your rationale.
- Describe the brand name and brand mark. Explain each of them in detail, including colors, designs, and text.
- Discuss the level of brand loyalty that the target market has for this brand.
- Describe the Packaging for this product.
- Explain how the package is used for each of the following (if one or more of the below items is not used for this function, explain why not):
(1) Containing and Protecting the Product
(2) Promoting the Product
(3) Facilitating Storage, Use, and Convenience
(4) Facilitating Recycling and Reducing Environmental Damage
- Explain the type of labeling used for this product (persuasive or informational). Provide your reasoning.
- What stage in the Product Life Cycle does this product category fall into? Choose only one stage, and explain your rationale. Note: Identify the product category before determining the stage in the product life cycle.
- Phase 4 (2-3 pages)
Place (Distribution
Which type of marketing channel does this product use: Direct Channel, Retailer Channel, Wholesaler Channel or Agent/Broker Channel? Explain your rationale.
- Describe the marketing channel functions performed by each intermediary in the marketing channel. If retailers are included in the marketing channel, define all types of retailers used in the marketing channel. Provide your reasoning.
- Does this product use Intensive, Selective, or Exclusive Distribution? Make sure that you understand the definition of each of these levels of distribution, and look at the distribution from the perspective of the manufacturer. Explain your reasoning.
- Identify actual or potential Conflict in the distribution channel. Explain the causes of the conflict and what can be done to resolve this conflict. How does this conflict affect the distribution channel? If there is no conflict, explain how the company maintains channel cooperation.
- Describe the Physical Distribution for this product.
- Inventory Control
- Warehousing and Materials-Handling
- Transportation
- Phase 5 (2-3 pages)
Promotion Strategy
- What type of product advertising is used for this product (Pioneering, Competitive, or Comparative)? Provide your reasoning.
- Define the type of advertising appeal used. Explain your rationale.
- Define the type(s) of media used. Explain your rationale.
- Describe the public relations functions for this product. Note: For public relations, you may need to look at the overall company, rather than the individual product. Select two of the areas below and provide a detailed explanation of how they are used for this product/company.
- Press Relations
- Product Publicity
- Corporate Communication
- Public Affairs
- Lobbying
- Employee and Investor Relations
- Crisis Management
- Define two public relations tools used. Provide support for your conclusions.
- Define two sales promotion tools used. Provide support for your conclusions.
- Explain the details of how Personal Selling is used for this product. Make sure to explain Personal Selling within the distribution channel, as well as to the ultimate customer. Remember that customer service (order aking) is also a part of personal selling.
Price Strategy
- Explain the type of pricing objectives used for this product (profit-oriented pricing objective, sales-oriented pricing objective, or status quo pricing objective). Explain your rationale for choosing the pricing objective.
- Analyze one other determinant of price that affects the pricing strategy for this product. Provide your reasoning.
- Explain the price discount policies as they pertain to this product. If they do not discount the price, explain why.
- Final Project and PowerPoint
Your Marketing Plan report would not be complete without a presentation.” Please accompany your written audit with 10-12 Microsoft® PowerPoint® slides illustrating your Marketing Plan Audit.
This presentation should report your findings and include your analysis/conclusions as to whether or not the present marketing mix under examination is appropriate for best meeting the needs/wants of the identified target market and establishing/maintaining and competitive advantage.
