You have been hired by a local company as a marketing manager and you are assigned to write a Marketing Plan for the company. Based on the following Contents and related guidelin
You have been hired by a local company as a marketing manager and you are assigned to write a Marketing Plan for the company. Based on the following Contents and related guidelines, write a brief marketing plan for that company.
- Introduction, Goals and Objectives
To introduce this section, you should include the Vision and mission statements of the business; an idea of what its goals are for customers, clients, employees and the consumer.
· Introduction about the business.
· Business vision and mission
· Business objective.
· Products and services offered
- Environmental Analysis
Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers.
- Target Market Analysis
Identify the target market, describing how the company will meet the needs of the consumer better than the competition does. List out the expectations consumers have for the product.
- SWOT Analysis – Conduct a Swot Analysis of the business to explain what actually are the strengths and weaknesses that the company has and the threats and opportunities.
- Marketing Mix Analysis (4 P’s Analysis)
Product or Service– Identify the product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for the company to produce it, why a consumer demand exists for your product, and where your product sits in comparison to similar products/services now available.
Place– Identify the location of your business, why it is located there (strategic, competitive, economic objectives), your expected methods of distribution, and timing objectives.
Promotion – Describe the type of promotional methods you will use to spread the word about your product. Identify techniques such as word of mouth, personal selling, direct marketing, sales promotion etc. television, radio, Social media and newspaper ads.
Price – The prices of your products or services that reflects the overall company strategy. Should be competitive as well as a reflection of the quality, costs and profit margin.
Guidelines
Solve these questions
the words between 600 to 700
it should have at least three (3) reference
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Ministry of Education Saudi Electronic University
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المملكة العربية السعودية وزارة التعليم الجامعة السعودية الإلكترونية |
College of Administrative and Financial Sciences
Assignment 3
Marketing Management (MGT 201)
Due Date: 30/04/2022 @ 23:59
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Course Name: Marketing Management |
Student’s Name: |
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Course Code: MGT201 |
Student’s ID Number: |
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Semester: Second |
CRN: |
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Academic Year:2021-22-2nd |
For Instructor’s Use only
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Instructor’s Name: Abdullah Bubshait |
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Students’ Grade: Marks Obtained/Out of 10 |
Level of Marks: High/Middle/Low |
General Instructions – PLEASE READ THEM CAREFULLY
· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
· Assignments submitted through email will not be accepted.
· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
· Students must mention question number clearly in their answer.
· Late submission will NOT be accepted.
· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
· All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
· Submissions without this cover page will NOT be accepted.
Assignment-3 Marketing Plan
Learning Outcomes:
1. Develop critical and analytical thinking necessary to overcome challenges and issues of marketing in the changing global environment. (LO-4)
2. Use effective and collaborative interpersonal skills to carry out scientific analysis of consumers’ needs and wants to formulate a marketing Plan. (LO-5)
Assignment Question:
You have been hired by a local company as a marketing manager and you are assigned to write a Marketing Plan for the company. Based on the following Contents and related guidelines, write a brief marketing plan for that company.
1. Introduction, Goals and Objectives (2 Marks)
To introduce this section, you should include the Vision and mission statements of the business; an idea of what its goals are for customers, clients, employees and the consumer.
· Introduction about the business.
· Business vision and mission
· Business objective.
· Products and services offered
2. Environmental Analysis (2 Marks)
Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers.
3. Target Market Analysis (2 Marks)
Identify the target market, describing how the company will meet the needs of the consumer better than the competition does. List out the expectations consumers have for the product.
4. SWOT Analysis – Conduct a Swot Analysis of the business to explain what actually are the strengths and weaknesses that the company has and the threats and opportunities. (2 Marks)
5. Marketing Mix Analysis (4 P’s Analysis) (2 Marks)
Product or Service– Identify the product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for the company to produce it, why a consumer demand exists for your product, and where your product sits in comparison to similar products/services now available.
Place– Identify the location of your business, why it is located there (strategic, competitive, economic objectives), your expected methods of distribution, and timing objectives.
Promotion – Describe the type of promotional methods you will use to spread the word about your product. Identify techniques such as word of mouth, personal selling, direct marketing, sales promotion etc. television, radio, Social media and newspaper ads.
Price – The prices of your products or services that reflects the overall company strategy. Should be competitive as well as a reflection of the quality, costs and profit margin.
Guidelines
1. This is an individual Assignment
2. Word count should be between 600-700 words.
3. Avoid plagiarism
4. References from related sources is required to validate your Answers.
Answers
1.
2.
3.
4.
5.
,
Because learning changes everything.®
Chapter 1
Overview of Marketing
Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.
© McGraw Hill LLC
Learning Objectives
Learning Objective 1.1 Define the role of
marketing.
Learning Objective 1.2 Describe the evolution of
marketing over time.
Learning Objective 1.3 Describe how marketers
create value for a product or service.
3
© McGraw Hill LLC
Water Bottles
CD_works27/Shutterstock 4
© McGraw Hill LLC
What Is Marketing?
Marketing is the activity, set of institutions, and processes
for creating, capturing, communicating, delivering, and
exchanging offerings that have value for customers, clients,
partners, and society at large.
Alejandro Rivera/Getty Images 5
© McGraw Hill LLC
Exhibit 1.1 Core Aspects of Marketing
Access the text alternative for slide images.
6
© McGraw Hill LLC
Marketing Is about Satisfying Customer Needs and Wants
How does Dove offer value?
• Dove added the Dove
Men+Care line and expanded
into products for babies.
• In advertising to male
consumers, Dove seeks to
acknowledge and recognize
modern men’s caregiving roles,
so it can link these
communications to its baby care
products too.
• Dove seeks to acknowledge
and recognize modern men’s
caregiving roles, so it can link
these communications to its
baby care products.
Dove seeks to acknowledge and recognize
modern men’s caregiving roles, so it can link
these communications to its baby care
products.
Source: Unilever 7
© McGraw Hill LLC
Exhibit 1.2: Exchange: The Underpinning of Seller-Buyer Relationships
8
© McGraw Hill LLC
Exhibit 1.3: The Marketing Mix
Source: McGraw-Hill Global Education Holdings, LLC 9
© McGraw Hill LLC
Marketing Creates Value through Product, Price, Place, and Promotion Decisions
The Marketing Mix:
The controllable set
of decisions or
activities that the firm
uses to respond to
the wants of its target
markets.
• Product.
• Price.
• Promotion.
• Place.
10
© McGraw Hill LLC
Product: Creating Value
The fundamental purpose of
marketing is to create value
by developing a variety of
offerings, including goods,
services, and ideas, to
satisfy customer needs.
• Goods.
• Services.
• Ideas.
Marketing creates value by promoting
ideas, such as bicycle safety.
Source: Street Smart, a public safety campaign of Metro, the District of Columbia, Maryland, and Virginia. 11
© McGraw Hill LLC
Price: Capturing Value
Price is everything a
buyer gives up (money,
time, energy) in
exchange for the
product or service.
If you don’t mind sitting in a middle seat and
putting all your baggage under your seat, flying on
low-cost carriers like Frontier is a good value.
Kateryna Kukota/Alamy Stock Photo 12
© McGraw Hill LLC
Place: Delivering the Value Proposition
Place represents all the
marketing processes
necessary to get the product to
the right customer when that
customer wants it.
Place more commonly deals
specifically with retailing and
marketing channel
management, also known as
supply chain management. Hertz creates customer value by using biometrics to
create a function that recognizes loyal customers
using facial, iris, or fingerprint scans.
Jeff Martin/AP Images 13
© McGraw Hill LLC
Promotion: Communicating the Value Proposition
Promotion is
communication by a
marketer that informs,
persuades, and reminds
potential buyers about a
product or service to
influence their buying
decisions and elicit a
response.
Babar books wanted to celebrate the 80th anniversary of the series.
It initiated a $100,000 campaign, working in collaboration with toy
stores and bookstores.
BananaStock/Alamy Images 14
© McGraw Hill LLC
Exhibit 1.4: Marketing Can Be Performed by Individuals and by Organizations
15
© McGraw Hill LLC
Marketing Impacts Various Stakeholders
Customers.
Supply Chain Partners.
Employees.
Industry.
Society. The Great American Milk Drive, run in conjunction with
Feeding America, seeks to ensure that local food banks are
sufficiently stocked with nutritious, frequently requested items.
Source: America’s Milk Companies 16
© McGraw Hill LLC
PROGRESS CHECK (1 of 3)
1. What is the definition of marketing?
2. Marketing is about satisfying blank and
blank.
3. What are the four components of the marketing
mix?
4. Who can perform marketing?
17
© McGraw Hill LLC
Exhibit 1.5 Marketing Evolution: Production, Sales, Marketing and Value
Access the text alternative for slide images.
Photos (left to right): Ryan McVay/Photodisc/Getty Images; Clement Mok/Photodisc/Getty Images; Lawrence Manning/Corbis/Getty Images; Ryan McVay/Photodisc/Getty Images;
Mark Dierker/McGraw-Hill
18
© McGraw Hill LLC
Value-Based Marketing
A Lipstick Option for Those Who Dream of a Hermès Bag
© Justin Sullivan/Getty Images 19
© McGraw Hill LLC
Value-Based Marketing Era
20
© McGraw Hill LLC
PROGRESS CHECK (2 of 3)
1. What are the various eras of marketing?
21
© McGraw Hill LLC
How Does Marketing Create Value and How Do Firms Become More Value Driven?
Build relationships with customers.
Gather and analyze information.
Balance benefits and costs.
Connect with customers using social and
mobile media.
Access the text alternative for slide images.
22
© McGraw Hill LLC
Value Stems From Four Main Activities
Adding Value
Using Marketing Analytics
Embracing Social and Mobile Marketing
Ethical and Societal Dilemma: Engaging in Conscious Marketing
Access the text alternative for slide images.
23
© McGraw Hill LLC
Marketing Analytics
Companies collect massive amounts of data about
how, when, why, where, and what people buy.
Kroger collects massive amounts of data about how, when, why, where, and what people buy and
then analyzes those data to better serve its customers.
© Daniel Acker/Bloomberg/Getty Images 24
© McGraw Hill LLC
Connecting With Customers Using Social and Mobile Marketing
Social media ad
spending is growing,
increasing by 32 percent
in 2018 alone.
3.26 billion people link
to some social media
sites through their
mobile devices. Make travel arrangements online either
through Facebook or hotels’ mobile app and
check-in is a breeze.
Erik Isakson/Blend Images/Getty Images 25
© McGraw Hill LLC
Resolving Ethical and Societal Dilemmas
Conscious Marketing
Socially Responsible
Firms
Making socially
responsible activities an
integral component of
corporate strategies. Too Good To Go is a UK-based app that has
partnered with 1,381 food stores to match
hungry customers to restaurants and stores
with surplus food that would otherwise go to
waste.
Guillaume Payen/SOPA Images/LightRocket/Getty Images 26
© McGraw Hill LLC
PROGRESS CHECK (3 of 3)
1. Does providing a good value mean selling at a
low price?
2. How are marketers connecting with customers
through social and mobile media?
27
Because learning changes everything.®
www.mheducation.com
Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.
Because learning changes everything.®
Chapter 2
Developing Marketing
Strategies and a Marketing
Plan
Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.
© McGraw Hill LLC
Learning Objectives
Learning Objective 2.1 Define a marketing strategy.
Learning Objective 2.2 Describe the elements of a marketing plan.
Learning Objective 2.3 Analyze a marketing situation using SWOT analyses.
Learning Objective 2.4 Describe how a firm chooses which consumer group(s) to pursue with its marketing efforts.
Learning Objective 2.5 Outline the implementation of the marketing mix as a means to increase customer value.
Learning Objective 2.6 Summarize portfolio analysis and its use to
evaluate marketing performance.
Learning Objective 2.7 Describe how firms grow their business.
3
© McGraw Hill LLC
PepsiCo
The development at PepsiCo reflects careful
analysis of the market and efforts to ensure that it
continues to attract a wide range of consumers.
VStock / Alamy, Shutterstock/VDB Photos 4
© McGraw Hill LLC
What is a Marketing Strategy?
A marketing strategy
identifies:
• A firm’s target market.
• A related marketing
mix.
• The bases on which
the firm plans to build
a sustainable
competitive
advantage.
Shutterstock / SergZSV.ZP 5
© McGraw Hill LLC
Exhibit 2.1: Macro Strategies for Developing Customer Value
Access the text alternative for slide images.
6
© McGraw Hill LLC
Customer Excellence
Retaining loyal
customers.
Providing outstanding
customer service.
Disney’s My Magic system enables users to
swipe their MagicBand wristbands to get on
rides, make purchases, and open their hotel
room door
parrysuwanitch/123RF 7
© McGraw Hill LLC
Operational Excellence
Efficient
operations
Excellent
supply chain
management
Strong
relationship
with
suppliers
8
© McGraw Hill LLC
Product Excellence
Provide products with high
perceived value and
effective branding and
positioning.
Bloomberg Businessweek’s
top global brands:
• Apple, Google,
Microsoft, Coca-Cola,
Amazon, Samsung,
Toyota, Facebook,
Mercedes, IBM.
© Jacek Lasa / Alamy 9
© McGraw Hill LLC
Locational Excellence
Especially important for retailers and service providers.
Many say, “The three most important things in retailing are
location, location, location.”
Competitive advantage based on location is not easily
duplicated. Starbucks makes it difficult for competitors to
enter a market and find good locations.
10
© McGraw Hill LLC
Multiple Sources of Advantage
A single strategy (low
prices or excellent service)
is usually not enough to
build a sustainable
competitive advantage.
Southwest Airlines
• Provides good service
at a good value (on-
time flights that are
reasonably priced).
Carlos E. Santa Maria/Shutterstock 11
© McGraw Hill LLC
PROGRESS CHECK (1 of 3)
1. What are the various components of a marketing
strategy?
2. List the four macro strategies that can help a
firm develop a sustainable competitive
advantage.
12
© McGraw Hill LLC
Exhibit 2.2: The Marketing Plan
Access the text alternative for slide images.
13
© McGraw Hill LLC
Step 1: Define the Business Mission
PepsiCo’s Mission Statement:
“To provide consumers around the world with delicious,
affordable, convenient and complementary foods and
beverages from wholesome breakfasts to healthy and
fun daytime snacks and beverages to evening treats.”
Coke’s Mission Statement:
“To refresh the world … To inspire moments of optimism
and happiness … To create value and make a
difference.”
14
© McGraw Hill LLC
Step 1: Conduct a Situation Analysis Using SWOT Analysis
Internal
Strengths
External
Opportunities
Internal
Weaknesses
External
Threats
15
© McGraw Hill LLC
Exhibit 2.3: Examples of Elements in a SWOT Analysis (1 of 2)
Environment Evaluation
Positive Negative
Pepsi Internal Strengths • Diverse brand portfolio
• Strong celebrity endorsers
• Successful marketing
campaigns with music
industry
• Commitment to social and
environmental charitable
causes
Weaknesses
• Lower brand awareness than
rival Coca-Cola
• Less market share than rival
Coca-Cola
• Environmentally unfriendly
packaging
External Opportunities
• Expanding health food market
• Growth in global market share
• Acquisition of new brands
Threats
• Water scarcity
• Popularity of reusable water
bottles
• Soda taxes
• Increasing competition in the
snack food market
Sources: Bitesh Bhasin, “SWOT Analysis of Pepsi—PepsiCo SWOT Analysis,” Marketing91, April 3, 2019; Hitesh Bhasin, “SWOT of Coca-Cola,” Marketing91, 2018.
16
© McGraw Hill LLC
Exhibit 2.3: Examples of Elements in a SWOT Analysis (2 of 2)
Environment Evaluation
Positive Negative
Coca-
Cola
Internal Strengths
• High market share
• Strong brand
• Strong global presence
• Excellent customer loyalty
• Supply chain
Weaknesses
• Low diversification
• Few healthy beverages
External Opportunities
• Emerging countries
• Diversifying products
• Bottled water
Threats
• Water scarcity
• Potential market
saturation
• Changes to labeling
regulations
• Increasing competitors
Sources: Bitesh Bhasin, “SWOT Analysis of Pepsi—PepsiCo SWOT Analysis,” Marketing91, April 3, 2019; Hitesh Bhasin, “SWOT of Coca-Cola,” Marketing91, 2018.
17
© McGraw Hill LLC
Step 3: Identifying and Evaluating Opportunities Using STP
Segmentation
Targeting
Positioning
18
© McGraw Hill LLC
Exhibit 2.4: Hertz: Market Segmentation Illustration
Segment 1 Segment 2 Segment 3 Segment 4 Segment 5
Segments Single thrill seekers and
gear heads on
vacation
Adrenaline
Collection
Business
customers
and families
who prefer a
luxurious ride
Prestige
Collection
Environmental
ly conscious
customers
Green
Traveler
Collection
Families
SUV/Mini
van/4×4
Collection
Commercial
customers
Commercial
Van/Truck
Collection
Cars
Offered
Corvette ZHZ
Chevrolet
Camaro
Infiniti QX56
Cadillac
Escalade
Toyota Prius
Ford Fusion
Toyota RAV4
Ford Explorer
Ford Cargo
Van
19
© McGraw Hill LLC
Market Positioning
Choose which segments to
pursue, then how to position
within those segments.
Define the marketing mix
variables so target customers
have a clear, distinctive, and
desirable understanding of the
product compared to competition.
Hertz positions itself as a quality
car and truck rental company that
is the first choice for each target
segment.
Shutterstock/MuchMania 20
© McGraw Hill LLC
Step 4: Implement Marketing Mix and Allocate Resources
Product and Value
Creation
Place and Value Delivery
Price and Value Capture
Promotion and
Value
Communication
21
© McGraw Hill LLC
Product and Value Creation
Successful products and services are those that
customers perceive as valuable enough to purchase.
Dyson creates value with its innovative products (left). It can therefore charge significantly more than
the price charged for conventional fans (right).
Access the text alternative for slide images.
(Left): Source: Dyson, Inc.; (right): Stockbyte/Getty Images 22
© McGraw Hill LLC
Price and Value Capture
Price is what the customer is willing to pay for
a product they perceive as good value.
Shutterstock / RUBEN M RAMOS 23
© McGraw Hill LLC
Place and Value Delivery
The product must be
readily accessible
when and where the
customer wants it.
• Dyson provides
product and place
value.
• Where are Dyson
fans available?
Top: Shutterstock/TotallyMJ , Bottom: Shutterstock/Maxx-Studio 24
© McGraw Hill LLC
Promotion and Value Communication
Advertising
Personal selling
Sales promotion
Public relations
Direct marketing
Online marketing (including
social media) Integrated
marketing communications
(IMC)
Access the text alternative for slide images.
25
© McGraw Hill LLC
Step 5: Evaluate Performance Using Marketing Metrics
A metric is a measuring
system that quantifies a
trend, dynamic, or
characteristic.
Metrics are used to
explain why things
happened and also
project the future.
Shutterstock / NicoElNino 26
© McGraw Hill LLC
Evaluating Performance
Who is accountable for
performance?
• Performance
Objectives, Marketing
Analytics, and Metrics.
• Financial Performance
Metrics.
• Portfolio Analysis.
EXHIBIT 2.5 Performance Metrics: Coke vs. Pepsi
Access the text alternative for slide images.
Source: MarketWatch, Inc. 27
© McGraw Hill LLC
Exhibit 2.6 Boston Consulting Group Matrix
Photos (top left): DenPhotos/Shutterstock; (top right): Kicking Studio/Shutterstock; (bottom left): Sushiman/Shutterstock;
(bottom right): David Caudery/Tap Magazine/Getty Images
Access the text alternative for slide images.
P&G
Website
28
© McGraw Hill LLC
Which Quadrant?
Whether a product is
classified as a star or
a question mark has
profound implications
on how it is treated
and supported within
the firm.
Top: Ksander/Shutterstock; Bottom: Denis Rozhnovsky / Alamy Stock Photo 29
© McGraw Hill LLC
PROGRESS CHECK (2 of 3)
1. What are the five steps in creating a marketing
plan?
2. What tool helps a marketer conduct a situation
analysis?
3. What is STP?
4. What do the four quadrants of the portfolio
analysis represent?
30
© McGraw Hill LLC
Growth Strategies Exhibit 2.7: Markets/Products and Service Strategies
Access the text alternative for slide images.
31
© McGraw Hill LLC
Market Penetration
Current marketing mix,
Current customers
Marvel used a market
penetration strategy by
expanding the distribution of
its films:
• Theaters.
• Xfinity.
• DVDs (in a variety of retail
locations).
Shutterstock/Nestor Rizhniak 32
© McGraw Hill LLC
Market Development
Current Products or
Services.
New Markets.
Marvel pursues such a
market development
strategy when it enhances
the viewing of its movies by
expanding into more global
markets.
Klaus Vedfelt/Getty Images 33
© McGraw Hill LLC
Product Development
New product or service.
Current target market.
Marvel launched several
successful series on Netflix,
including Jessica
Jones, Daredevil, Iron
Fist, and Luke Cage.
• By developing series designed
for this format, Marvel can
connect with its customers in a
new and important way.
Left: Dragon Images/Shutterstock, Right: Makistock/Shutterstock 34
© McGraw Hill LLC
Diversification
New product or service.
New market segment.
Related vs. unrelated
diversification.
• Marvel has pursued related
diversification with its home décor.
• If Marvel ventured into the child
day care service industry, it would
be an unrelated diversification
because it is so different from its
core business and therefore very
risky.
Photos (top): Interior Design/Shutterstock; (bottom): Ariel Skelley/Photodisc/Getty Images 35
© McGraw Hill LLC
PROGRESS CHECK (3 of 3)
1. What are the four growth strategies?
2. What type of strategy is growing the business
from existing customers?
3. Which strategy is the riskiest?
36
Because learning changes everything.®
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Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.
Because learning changes everything.®
Chapter 3
Digital Marketing: Online,
Social, and Mobile
Copyright 2022 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.
© McGraw Hill LLC
Learning Objectives
Learning Objective 3.1 Describe the 4E
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