Overview
For this Performance Task Assessment, you will take on the role of a marketer for a large corporate company that currently sells high-end products or services. Your task is to assess the possibilities of selling a less expensive product/service to boost sales while maintaining the quality expectations of your consumer base. The challenge will be to not tarnish your brand while bringing in new customers that will boost sales for the company.
Assessment Submission Length: 8- to 10-page marketing strategy evaluation
To complete this Assessment, do the following:
Review, as needed, the following resources on executive summaries:
Walden Writing Center. (n.d.). Common assignments: Executive summaries. https://academicguides.waldenu.edu/writingcenter/assignments/executivesummaries
Asana. (n.d.). How to write an executive summary, with examples. https://asana.com/resources/executive-summary-examples
Use the MT002_Assessment_Template (Word document) file to complete your work on the marketing strategy evaluation, using your Pre-Assessment submission as a starting point and incorporating any feedback as appropriate.
Be sure to adhere to the indicated assignment length.
Before submitting your Assessment, carefully review the rubric. This is the same rubric the assessor will use to evaluate your submission and it provides detailed criteria describing how to achieve or master the Competency. Many students find that understanding the requirements of the Assessment and the rubric criteria help them direct their focus and use their time most productively.All submissions must follow the conventions of scholarly writing. Properly formatted APA citations and references must be provided where appropriate.
Marketing Strategy Evaluation
For this Assessment, you will develop and present an assessment overview of a high-end brand that is planning to incorporate the possibility of selling a lower-end product or service to a new market. A big consideration is evaluating brand value. Your task will be to evaluate your current high-end brand and compare it to the potential new low-cost product/service and assess the real value aspect in order to make an impact on customer buying decisions and perceived value from the overall customer base, all while keeping your current customer base. You may select a company from the following industries as your chosen company to evaluate (Fashion, Technology, or Hospitality – Hotels/Resorts, Restaurants, etc.). You will want to select a large enough company with sufficient information on the web to be able to pull together the material you need for this exercise.
The product of your evaluation will be a report that you could deliver to the company’s CEO and senior leadership team for review. In addition to the requirements that follow, be sure to incorporate references to appropriate academic sources.
Part 1: Incorporating the Marketing Mix (2–3 pages)
The first part of your evaluation should focus on the marketing mix and its overall role in your analysis. Address the following:
Analyze the importance of the 4 Ps in establishing the marketing analysis.
As part of your analysis, explain how each of the 4 Ps factor into marketing decisions.
Propose a new selling strategy for the organization based on your analysis of the organization’s current selling strategies.
Analyze how persuasion can be used to influence consumer behavior.
Part 2: Incorporating Creative Value (3–4 pages)
In the second part of your evaluation, address the following:
Examine value creation and value capture and what it means to apply a value proposition to a brand.
Synthesize customer value, business value, and cultural value of the proposition and how that value proposition challenges the marketing environment.
Summarize how you can use Porter’s Five Forces theory to develop an overall marketing strategy that creates value for your existing brand and proposed product/service offerings.
As part of your summary, analyze the effects of Porter’s Five Forces theory on your current and proposed strategies.
To support your ideas, do some research and locate at least two examples (a minimum of one example per strategy) of how marketing can shape strategy.
Part 3: Incorporating Market Share Capturing (approximately 2 pages)
In the third part of your evaluation, address the following:
Summarize how market share approach can lead to consumer confidence.
Synthesize your market share analysis for the new strategy and its impact on the organization.
To conclude your evaluation for the CEO, defend how your market share strategies will support your overall marketing strategy for both products and capture market share for the company.
Executive Summary (page 1 of your report)
Provide the CEO with an executive summary of your evaluation of the opportunities for the brand. This will serve as the first page of your report. Be sure to address the following in your executive summary:
Clearly state the purpose of the report.
Concisely summarize the results of your evaluation of how the company could expand its brand to include a lower-cost version of a product/service that would retain existing customers while capturing additional market share.
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