comprehensive project
Comprehensive Project Phases Comprehensive Project Part 1 – Product/Service selection; Segmentation, Targeting and Positioning Strategies (10%); Think carefully about this selection as you will be working with this product/service for the entire course culminating in a presentation. There are a number of idea websites that you might use to help provide an idea for a product/service business such as: Springwise | New business ideas, trends and innovation and Entrepreneur.com. You may also choose to imitate a company that is already doing business (but you may not directly use an existing company for the project) in the marketplace or you may have your own business or business idea you wish to work with. The key is to use that product/service business to apply the lesson concepts and terminology to develop key components of a marketing plan. Your context (unless you use a business you are already have) is a business you may start in a years’ time. NOTE: The questions will have the concepts from our readings that you must select from and apply to your own business choice. i.e. When asked for segmentation you are expected to apply the Bases of Segmentation – Geographic, Demographic, Psychographic, Benefit, and Usage Rate to your identified customers. This pattern is followed throughout the project. 1. Describe your chosen product/service business. Identify the top 3 competitors you may face in the marketplace. Provide some rationale for your choices. 2. Your business may be better suited for business to consumer (B2C) or business to business (B2B) but for this activity please provide choices for both markets as follows: a. Provide a detailed description of the (B2C) consumer segments for your product or service (i.e. Geographic, Demographic, Psychographic, Benefit, and Usage Rate). b. Provide a detailed description of how your product or service will be segmented in the business B2B market (i.e. Firmographics, Company Characteristics, and Buying Processes). 3. Describe your target market strategy (i.e. Undifferentiated, Concentrated, Multi-segment) 4. Describe how you would position your product in the consumer market (i.e. Attribute, Price and Quality, Product User, Product Class, Competitor, Emotion). 5. Provide a perceptual map of your product/service business using the top 3 competitors and your business. 6. Explain your choices and provide some rationale for your work in items 1 – 5 above. 7. It is expected that some secondary research will be evident in your submission. Use the APA format for in-text citations and references (bibliography). Please submit as a Word document through the Assignment function in Bb. See the next page for the marking rubric. When marking project assignments, the facilitator will consider the extent to which you do the following: • Follow the directions given for the project. • Collect, analyze, and interpret information appropriately, using supporting details. • Organize information in an appropriate way, including an introduction, body, and conclusion. references in APA format both in-text (footnotes) and in References (bibliography) Cite • Present your ideas in a clear and appealing format, using appropriate supporting information. Communicate ideas clearly and correctly, MARKING RUBRIC (10%): Required Components Criteria Advanced Proficient Acceptable Limited 80-100% 70 -79% 60 – 69% 50 – 59% Point s Partial Not Present 1. Describe your chosen product/service business. 2. Identify the top 3 competitors you may face in the marketplace. 3. Provide a detailed description of the (B2C) consumer segments for your product or service Knowledge and Understandin g Your responses demonstrate a clear and thorough understanding of the critical learning requirements. Your responses demonstrate a good understanding of the critical learning requirements. Your responses demonstrate an understanding of the critical learning requirements. Your responses may demonstrat e only a limited understandi ng of the critical learning requirements. /3.5 4. Provide a detailed description of how your product or service will be segmented in the business B2B market. 5. Describe your target market strategy (i.e. Undifferentiated, Concentrated, Multisegment). Collection and Organization of Information – Uses course terminology -Uses headings and subheadings All of the required information has been collected, organized, analyzed, and interpreted correctly and in considerable detail. Most of the required information has been collected, organized, analyzed, and interpreted correctly and in some detail. Most of the required information has been collected, organized, analyzed, and interpreted, but most of the ideas are very general or superficial. Most required information may be missing, or the information that is collected, organized, analyzed, and interpreted may be incorrect or incomplete. /3.5 6. Describe how you would position your product in the consumer market (i.e. Attribute, Price and Quality, Product User, Product Class, Competitor, Emotion). 7. Provide a perceptual map of your product/service business using the top 3 competitors and your business. 8. Explain your choices and provide some rationale for your work. Reflection and Support of Ideas The lesson concepts have been used expertly to communicate and support ideas. The lesson concepts have been used effectively to communicate and support ideas. Ample and appropriate secondary research is evident in the work provided Appropriate secondary research evidence is provided Some attempt has been made to use the of lesson concepts to communica te and support ideas. Some secondary research effort is evident. Little or no attempt has been made to use the lesson concepts to communicate and support ideas. Little or no evidence of secondary research is provided /2 9. In-text citations for any information source and References (bibliography) that were used. 10. APA format compliant for both intext citations and references that appear Comments: Mechanics grammar, spelling, citing sources and using APA format Ideas are communicat ed clearly and correctly. Language conventions (spelling, grammar, usage) and cite sources with high degree of effectiveness and accuracy. Most ideas are communicat ed clearly and correctly. Language conventions (spelling, grammar, usage) and cite sources with some effectiveness and accuracy. Most ideas are communicate d so they can be understood but errors may reduce clarity. Language conventions (spelling, grammar, usage) and cite sources with limited effectivene ss and accuracy. Many ideas may be unclear, and errors may seriously affect clarity. /1 Language conventions (spelling, grammar, usage) and cite sources with little or no effectiveness and accuracy. Total /10
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