Topic: Segment and Target Markets (ONLY PART 3.0)
Pages and Word Count: 4 pages (1,100 words)
Reference: 1-2 total. (References not older than 10 years, PEER-REVIEWED ARTICLES.)
Attaching Draft to be used for revision!!!
Text Book: Kotler, P. & Keller, K. L. (2016). Marketing management (15th
ed.). Pearson Prentice Hall.
(https://nscpolteksby.ac.id/ebook/files/Ebook/Business%20Administration/Kotler%20and%20Keller%20Marketing%20Management%2014th%20Edition%20(2012)/Chapter%202%20-%20Developing%20Marketing%20Strategies%20and%20Plans.pdf
APA 7.
==================== This will be the part for
this project, PART 3.0 =======================
==================== Approved Final draft from PART 1 & 2 will be attached =================
3.0 MARKETING STRATEGY (75 words)
See page 31 of the Marketing Plan
Sample.
Write a similar Marketing Strategy Summary.
3.1
Mission (250 words)
(review “mission” in Chapter 2 of the Kotler & Keller Marketing Management text)
●
Establish the fundamental goals for the quality of your
business/product offering and customer satisfaction. (>50 words)
●
Define your business/product offering. (>50 words)
●
What are your fundamental goals? (>100 words)
(Fundamental goals are those that you would like to achieve with your new
product, either as an individual product or as part of the overall company
mission. These are directional goals that provide the overall strategic
direction for management planning.)
●
State the value proposition. (>50 words)
Be sure to look up this term in your Kotler text if you do not
fully understand it.
3.2
Marketing Objectives (500 words)
Include a sentence or two about each of the following:
●
What are your specific marketing objectives? (>50 words)
●
Market share: what is your growth objective by quarter? (>50
words)
●
Market penetration: how do you plan to gain a share in this
market? (>50 words)
●
Awareness: how do you plan to gain awareness for your product? (>50
words)
●
Customer acquisition: how do you plan to grow your customer base?
(>50 words)
●
Presented SMART (specific, measurable, attainable, realistic, and
time bound) marketing goals (>150 words)
●
Identify a specific, measurable market share and size. (>50
words)
Remember that your objectives need to be
quantifiable. In other words, objectives need to have a base point, end point,
and time frame so you can research to see if you have reached your benchmarks
or if your plan needs adjustment.
3.3 Target Markets (250 words)
(refer to Chapter 9 of your Kotler text
to make sure you fully understand what is meant by target market segments)
●
Identify the specific target market segments you have defined.
What are the market niches you hope to capture? Describe. (150 words)
●
Include the rationale behind why these are the optimal target
marketing segments. Be specific. (125 words)
· Direction:
o
Brand Extension
Marketing Plan
o
Introduction: The
assessment in this module is to complete a component of a Brand Extension
Marketing Plan for one new product on the behalf of an existing for-profit
organization. Using the Marketing Plan Guide attached.
o
You need to first
assume you have the role of a MARKETING
MANAGER for one new (currently not available) product on the behalf of a
real, for-profit organization. Consider this a “brand extension.” You are
adding a product to an existing company’s product line. This product may be
introduced on a local, regional, national, or international scale.
o
Project Detail: SMART PHONE from Tesla.
o It is important that you write your Brand
Extension Marketing Plan in third person (there is no “I” in a marketing plan),
using your own words, and/or paraphrasing instead of direct quoting.
o Please refer to page 29-33 of the Textbook
Marketing Plan Sample.
§ Same format is important.
§ It utilizes a lot of bullet point.
o
It is very important
that you fully comprehend what a brand extension is before you begin your
assessment. Find “brand extension” in your Kotler text and make certain you
understand the definition. Brand extensions fall into two categories:
§
Line extension and
§
Category extension.
Be sure to understand the difference. Reading this section in
your text will be extremely helpful to you!
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