Assignment 2: Part B: Your Marketing Plan

I’m studying for my Marketing class and need an explanation.

Using the same hypothetical company from Assignment 1, for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.

Note: You should create and/or make all necessary assumptions needed for the completion of this assignment.

Instructions

Create the second part of your marketing plan:

  1. Describe or list the feedback you received on Part A of your marketing plan. Explain how you will use the feedback to improve your plan.
  2. Develop a branding strategy for your product / service that covers the brand name, logo, slogan, and at least one brand extension.
  3. Thoroughly analyze the primary and secondary markets that you want to target. Thoroughly include the demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile, professional profile, geographic profile, and any other segmentation variable you deem necessary.
  4. Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position.
  5. Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.
  6. Use at least three academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service.
    Note: Wikipedia and other similar websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double- spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

1. Analyze marketing environments and strategies used to strengthen product or service positioning.

c. Examine the marketing science of customer behavior and products in the marketing exchange process.

2. Evaluate marketing strategies used to create/communicate customer value.

a. Analyze the marketing framework through a situation analysis.

b. Evaluate target customer segments and positioning products within these segments.

c. Evaluate the basis for market segmentation and approaches to segmentation.

3. Create an effective marketing plan.

a. Develop recommendations based on market analysis and strategy.

b. Develop strategies to assess performance and achieve marketing goals.

c. Develop dynamic strategies for competing.

d. Develop branding strategies for existing and new products or services.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric found here.

Name: MKT 500 Week 6 Assignment 2: Part B: Your Marketing Plan

Description: MKT 500 Week 6 Assignment 2: Part B: Your Marketing Plan

Unacceptable Below 70% F

Fair 70-79% C

Proficient 80-89% B

Exemplary 90-100% A

1. Describe or list the feedback you received on Part A of your

marketing plan. Explain how you will use the feedback to improve your

plan.

Points Range: 0 (0.00%) – 16.56 (6.90%)

Does not describe feedback received. Does not explain how feedback will be used to improve the marketing plan.

Points Range: 16.8 (7.00%) – 18.96 (7.90%)

Satisfactorily describes or lists feedback received. Partially explains how feedback will be used to improve the marketing plan.

Points Range: 19.2 (8.00%) – 21.36 (8.90%)

Adequately describes or lists feedback received. Sufficiently explains how feedback will be used to improve the marketing plan.

Points Range: 21.6 (9.00%) – 24 (10.00%)

Accurately describes or lists feedback received. Fully explains how feedback will be used to improve the marketing plan.

2. Develop a branding strategy for your product / service that covers

the brand name, logo, slogan, and at least one brand extension.

Points Range: 0 (0.00%) – 24.84 (10.35%)

Did not submit or incompletely developed a branding strategy for the product / service that covers the brand name, logo, slogan, and at least one brand extension.

Points Range: 25.2 (10.50%) – 28.44 (11.85%)

Partially developed a branding strategy for the product / service that covers the brand name, logo, slogan, and at least one brand extension.

Points Range: 28.8 (12.00%) – 32.04 (13.35%)

Satisfactorily developed a branding strategy for the product / service that covers the brand name, logo, slogan, and at least one brand extension.

Points Range: 32.4 (13.50%) – 36 (15.00%)

Thoroughly developed a branding strategy for the product / service that covers the brand name, logo, slogan, and at least one brand extension.

3. Thoroughly analyze the primary and secondary markets that you want

to target. Thoroughly include the demographic profile (e.g., age,

gender, ethnicity, etc.), psychographic profile, professional profile,

geographic profile, and any other segmentation variable you deem

necessary.

Points Range: 0 (0.00%) – 33.12 (13.80%)

Did not submit or incompletely analyzed the primary and secondary target markets. Did not submit or incompletely included the demographic profile, psychographic profile, professional profile, geographic profile, and any other segmentation variable necessary.

Points Range: 33.6 (14.00%) – 37.92 (15.80%)

Partially analyzed the primary and secondary target markets. Partially included the market segment demographic profile, psychographic profile, professional profile, geographic profile, and any other segmentation variable necessary.

Points Range: 38.4 (16.00%) – 42.72 (17.80%)

Satisfactorily analyzed the primary and secondary target markets. Satisfactorily included the market segment demographic profile, psychographic profile, professional profile, geographic profile, and any other segmentation variable necessary.

Points Range: 43.2 (18.00%) – 48 (20.00%)

Thoroughly analyzed the primary and secondary target markets. Thoroughly included the market segment demographic profile, psychographic profile, professional profile, geographic profile, and any other segmentation variable necessary.

4. Prepare a positioning statement. Include a perceptual map that

shows your company’s position against its competitors. From this map,

create a statement that depicts your position.

Points Range: 0 (0.00%) – 33.12 (13.80%)

Did not submit or incompletely prepared a positioning statement. Did not submit or incompletely included a perceptual map that shows your company’s position against its competitors. From this map, did not submit or incompletely created a statement that depicts your position.

Points Range: 33.6 (14.00%) – 37.92 (15.80%)

Partially prepared a positioning statement. Partially included a perceptual map that shows your company’s position against its competitors. From this map, partially created a statement that depicts your position.

Points Range: 38.4 (16.00%) – 42.72 (17.80%)

Satisfactorily prepared a positioning statement. Satisfactorily included a perceptual map that shows your company’s position against its competitors. From this map, satisfactorily created a statement that depicts your position.

Points Range: 43.2 (18.00%) – 48 (20.00%)

Thoroughly prepared a positioning statement. Thoroughly included a perceptual map that shows your company’s position against its competitors. From this map, thoroughly created a statement that depicts your position.

5. Examine the relevant consumer behavior for your target market.

Explain the main reasons why the brand name, logo, slogan, brand

extension, as well as the positioning statement are right for the

identified target market.

Points Range: 0 (0.00%) – 24.84 (10.35%)

Did not submit or incompletely examined the relevant consumer behavior for your target market. Did not submit or incompletely explained the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.

Points Range: 25.2 (10.50%) – 28.44 (11.85%)

Partially examined the relevant consumer behavior for your target market. Partially explained the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.

Points Range: 28.8 (12.00%) – 32.04 (13.35%)

Satisfactorily examined the relevant consumer behavior for your target market. Satisfactorily explained the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.

Points Range: 32.4 (13.50%) – 36 (15.00%)

Thoroughly examined the relevant consumer behavior for your target market. Thoroughly explained the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.

6. Citations and References / Information Literacy / Integration of Sources

Points Range: 0 (0.00%) – 16.56 (6.90%)

Lack of in-text citations and/ or lack of reference section. Serious errors in the integration of sources, such as intentional or accidental plagiarism.

Points Range: 16.8 (7.00%) – 18.96 (7.90%)

In-text citations and references are provided, but they are only partially formatted correctly in APA style. Does not meet the required number of references; some or all references poor-quality choices. Sources are partially integrated using effective techniques of quoting, paraphrasing, and summarizing.

Points Range: 19.2 (8.00%) – 21.36 (8.90%)

Most in-text citations and references are provided, and they are generally formatted correctly in APA style. Meets number of required references; all references high-quality choices. Sources are mostly integrated using effective techniques of quoting, paraphrasing, and summarizing.

Points Range: 21.6 (9.00%) – 24 (10.00%)

In-text citations and references are error free and consistently formatted correctly in APA style. Exceeds number of required references; all references high-quality choices. Sources are consistently integrated using effective techniques of quoting, paraphrasing, and summarizing.

7. Clarity, Writing Mechanics, Grammar, and Formatting
Weight: 10%

Points Range: 0 (0.00%) – 16.56 (6.90%)

Information is confusing to the reader and fails to include reasons and evidence that logically support ideas. Serious and persistent errors in grammar, spelling, punctuation, or formatting.

Points Range: 16.8 (7.00%) – 18.96 (7.90%)

Information is partially clear with minimal reasons and evidence that logically support ideas. Partially free of errors in grammar, spelling, punctuation, or formatting.

Points Range: 19.2 (8.00%) – 21.36 (8.90%)

Information is mostly clear and generally supported with reasons and evidence that logically support ideas. Mostly free of errors in grammar, spelling, punctuation, or formatting.

Points Range: 21.6 (9.00%) – 24 (10.00%)

Information is provided in a clear, coherent, and consistent manner with reasons and evidence that logically support ideas. Error-free or almost error-free grammar, spelling, punctuation, or formatting.

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