Brand Extension Marketing Plan
Introduction: The major project in this course is to complete a Brand Extension Marketing Plan for one new product on the behalf of an existing for-profit organization. Using the Marketing Plan guide found in Doc Sharing, complete and submit the following components of your Marketing Plan.
The guide you should use for all Marketing Plan assignments is in Doc Sharing.
The Kotler & Keller text is extremely helpful to you when completing your ongoing weekly assignments.
During each unit of our class, a new component of the Marketing Plan will be due.
Unit 2: Identifying and Assessing Marketing Opportunities
2.0 SITUATION ANALYSIS
Write a one-paragraph summary of the current situation – write this section after completing the following sections of the Situation Analysis, but put it in this order.
2.1 Market Summary
(write this section after completing 2.1.1, 2.1.2, 2.1.3, 2.1.4, and 2.2) In a 1-2 paragraph summary, address:
What are your target customer groups? Why?
What are your projections for the growth of this market?
2.1.1 Market Demographics (refer to Chapter 8 of your Kotler text for helpful definitions/explanations)
Carefully define the demographic profile of your target market.
In a similar fashion, define the geographic target area you are choosing.
What are the behavior factors that will influence your decision-making?
Define the values and lifestyles (psychographics) of your target market.
2.1.2 Market Needs
What are the benefits that are important to your customer base?
What needs to they have and how do you know this?
2.1.3 Market Trends
Identify and explain at least three trends that will influence how your customers view your product – these should be trends going on in the industry or the environment; these are trends that your company/product can respond to in some way. Remember: trends are long term; fads are short term.
2.1.4 Market Growth
Is the market growing, static, diminishing? What are the growth trends?
What is the evidence? What research are you using to determine market growth?
How will you address the market if it is growing, static, or diminishing?
2.2 SWOT Analysis (refer back to Chapter 2 of your Kotler text for a thorough explanation of a SWOT analysis)
2.2.1 Strengths – list and describe at least three positive internal aspects that add value
2.2.2 Weaknesses – list and describe at least three negative internal aspects that place you at competitive disadvantage
2.2.3 Opportunities – list and describe at least three opportunities external to your business that will lead to your success
2.2.4 Threats – list and describe at least three threats external to your business that will threaten your success (e.g., it is common to include unexpected acts of nature, government and regulatory concerns, and competition in this section of the SWOT)
Describe your competition.
Why will customers prefer your product?
How will you compete with your competition and win?
What is the marketing mix (price, place, promotion, product, you know them as “the 4 P’s of Marketing”) of at least one of your competitors?
2.4 Product Offering (refer to your Kotler text to make certain you understand these terms)
Product/features/benefits (we particularly care about benefits as these are from the perspective of the target market)
Describe your Brand Equity Model and say how you will build brand equity for this product/service.
2.5 Keys to Success
List and describe at least three factors that will determine your success.
2.6 Critical Issues
How will you leverage your SWOT strengths and opportunities to your advantage?
How will you lessen the impact of your SWOT weaknesses and threats?
Where is your product in the product life cycle and why? Refer to your Kotler text for a definition of a product life cycle.
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.