MKTG211: Marketing Foundations: Marketing Strategy Analysis Project

Objective: To demonstrate an understanding of marketing concepts and their application by providing an overview of a strategic marketing strategy for a tangible consumer product. The intent of this assignment is to analyze a specific existing product that is currently on the market. You will select a product from the list provided by the instructor. Only one person per product, so the choices will be made on a first come, first serve basis. Your grade will be based on your thoroughness of analysis and the logic of your conclusions and recommendations, as well as APA formatting and grammar and spelling. The final paper must include each of the numbered/lettered items as subheadings. Section One: Target Market (1 2 pages) Define one target market for this product using all bases of segmentation described in the textbook beginning on page 123. Remember that a target market description describes the people in the target market. Product descriptions do not belong in this section. 1. Geography 2. Demographics a. Age (provide a specific age range) b. Gender c. Income (provide a specific income range) d. Ethnicity e. Family Life Cycle (provide marital and family status) 3. Psychographics a. Personality (describe at least three distinct personality traits that apply to this group of people) b. Motives (describe at least three distinct motives that apply to the this group of people) c. Lifestyles (describe at least three distinct lifestyle traits that apply to this group of people) 4. Benefits Segmentation (describe at least three benefits sought) 5. Usage Rate Segmentation For each section above, provide detailed information to convey understanding of the concepts being applied. Use subheadings or a table to separate each item listed above. Bullet points may be used but need to be detailed and clear. Stating that the target market likes outdoor activities is not clear. Instead, stating that they play on a softball team that practices and plays 2-3 times per week provides the necessary detail and clarification. Section Two: Product Strategy (2-3 pages) 1. 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. Textbook page 158. 2. Describe the Branding used for this product. Textbook page 162. a. Does this product use family and/or individual branding? Explain your rationale.

b. Describe the brand name and brand mark. Explain each of them in detail, including colors, designs, and text. c. Discuss the level of brand loyalty that the target market has for this brand. Do not confuse Branding with Packaging & Labeling. Branding elements are often used on packaging, but a picture or phrase on a package is not necessarily a brand mark. 3. Describe the Packaging for this product. Textbook page 166. a. 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 b. Explain the type of labeling used for this product (persuasive or informational). Provide your reasoning. 4. What stage in the Product Life Cycle does this product category fall into? Textbook page 181. Choose only one stage, and explain your rationale. Note: Identify the product category before determining the stage in the product life cycle. See the VCR example on page 185 in the textbook. Section Three: Place (Distribution) Strategy (2-3 pages) 1. Which type of marketing channel does this product use: Direct Channel, Retailer Channel, Wholesaler Channel or Agent/Broker Channel? Explain your rationale. Textbook page 206. 2. Describe the marketing channel functions performed by each intermediary in the marketing channel (see Exhibit 13.2 on page 205 in the textbook). If retailers are included in the marketing channel, define all types of retailers used in the marketing channel (see retailer types starting on page 233 in the textbook). Provide your reasoning. 3. 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. Textbook page 210. Explain your reasoning. 4. Identify actual or potential Conflict in the distribution channel. Textbook page 212. 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.

5. Describe the Physical Distribution for this product. Textbook page 225. a. Inventory Control b. Warehousing and Materials-Handling c. Transportation Section Four: Promotion Strategy (2-3 pages) 1. What type of product advertising is used for this product (Pioneering, Competitive, or Comparative)? Provide your reasoning. Textbook page 267. 2. Define the type of advertising appeal used. Explain your rationale. Exhibit 17.1 Textbook page 269. 3. Define the type(s) of media used. Explain your rationale. Textbook page 272. 4. Describe the public relations functions for this product. Textbook page 278. 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. a. Press Relations b. Product Publicity c. Corporate Communication d. Public Affairs e. Lobbying f. Employee and Investor Relations g. Crisis Management 5. Define two public relations tools used. Provide support for your conclusions. Textbook page 279. 6. Define two sales promotion tools used. Provide support for your conclusions. Textbook page 284. 7. 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 taking) is also a part of personal selling. Textbook page 290. Section Five: Price Strategy (1 page) 1. 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. Textbook page 302. 2. Analyze one other determinant of price that affects the pricing strategy for this product. Provide your reasoning. Textbook page 313.

3. Explain the price discount policies as they pertain to this product. See the list on page 325 in the textbook. If they do not discount the price, explain why. References: Must include at least three outside references, formatted using APA style. These references cannot be the textbook. You are welcome to use the textbook as a reference, but it must be in addition to the three separate outside references to meet this requirement.