Identify the trends and changes that are occurring in the external environment that impact your chosen product’s marketing plan.

Marketing Portfolio Assignment Part 1 – 15%

Overview:

This is the first part of the marketing portfolio project that you will complete over the course of the semester. By the time you have finished, you will have essentially written a Marketing Plan for a consumer product in Canada.  You will need to choose a consumer product from the list at the bottom of the assignment.Only one team per brand. 

GROUP PROJECT: Maximum three (3) students per group

DUE: Week 5 – Wednesday, February 9th by 11:59 pm to the Assignment folder.

Instructions:

Identify the trends and changes that are occurring in the external environment that impact your chosen product’s marketing plan. 

Specifically, consider trends and changes in the areas of Technology, Regulatory, Economics, Environmental, Demographics, and Socio-Cultural happenings in this marketplace. 

Research and analyze at least 3 factors and how they relate specifically to your brand/product. Explain for each of the factors you have selected the positive or negative implications (minimum of two for each) the external environmental factor could have on your chosen product’s marketing plan. Ensure that you explain why?

Provide recommendations (action plans) as to what you plan to do to alter your current marketing plan to address this implication, again based on the factors you selected. Ie. How may these trends impact your Product, Price, Promotion or Place strategy? (10 marks)

Review the competitive environment for your chosen product. 

Specifically, provide details on 3 direct competitors, focusing on comparing the 4 “P”’s for your own product versus the competitor’s product. 

Evaluate and specify your product’s ‘Unique Selling Difference’ or “Value” what makes it different and what value does it provide the consumer? 

Provide rationale for your evaluation. (10 marks)

Include a SWOT (strengths, weaknesses, opportunities, threats) analysis using a bullet point, table format. 

This analysis should be from the perspective of your product and how it compares to its overall market/category.

Finally, summarize your findings and describe and explain possible implications for the marketing of this product – include both positive and negative. (10 marks)

From a Global Citizenship and Equity (GC&E) perspective: 

Identify (in your own words) how your product’s firm has supported environmentalism and sustainability, and 

Has supported social responsibility at the national or global level. Please provide supporting documentation and examples(10 marks)

Overall professionalism and presentation of the assignment 

• including cover page, bibliography including citation (APA), spelling/grammar. (5 marks)

Format Example

  

External Trends

Implications:  + and –

• Actions Plans
•  

1, Technology

Consumers   increasingly using on-line shopping for their purchases. 

 

• Positive
• Canadian   Tire has just put a renewed focus on updating their website to be more user   friendly and easier to purchase

Negative

The   chain still does not do next day delivery to home to compete effectively   against Amazon.Also prices may not be   competitive enough.

 

• Economic?

 

•  
• Cultural?
•  

The chain needs to significantly ramp up its on-line capabilities in the following areas; Example

Price: review to see if pricing is competitive enough and in line with what is being offered (product, service)

Place; Need to get next day delivery established to home vs going to store

• Promotion: Needs to actively promote the on-line service to attract new customers and keep existing
• Product: review their product line-up to see what other products they can add for variety
• Tell me what makes your brand unique.What is the one thing that differentiates this business/brand vs the competitors?Example: Canadian Tire is a Canadian neighbourhood store that offers everything you need for your household 

Format Example

a)

    

• Lush

 

Bath   and Body 

•  
• The   Body shop

 

Bathorium

 

• Product

 

Price

 

Place

 

Promotion

b) Unique Selling Difference

Give me three points that rationalize and support your unique selling difference

Format Example

Put in a Grid below

Implications

  

Strengths

 

Weaknesses

•  

Opportunities

 

• Threats

From your analysis above, what are the three things that the company needs to do differently or focus on in their Business and Marketing Plan

Format

• Environmentalism and Sustainability
  – write down (in own words) what the company is doing in this area

Social Responsibility

– provide examples as support
 

– write down (in own words) what the company is doing in this area.

– provide examples as support
 

Submission: 

Format: Use the format and      template provided for each question – it should result in a 3-4      page type-written report.      Be sure to answer ALL questions. Your      assignment should be uploaded in e-centennial with a title page that      includes the assignment title/brand, date, name of this class and section,      the instructor’s name, and your names and student numbers. The title page      and Bibliography are not part of the 4 pages.

Note you      will be judged on original thinking and plagiarizing or selecting content      that has already been detailed (ie. Taken directly from the company website)      is not permitted. Note your assignment will go through Turn-it In which      will assess the amount of plagiarizing. So, be aware that this can lead to      a “0” grade. 

Due Date: February 9th by 11:59 pm – Submitted to e-centennial dropbox Assignment #1 folder. 

Brand/Product Selection Process:

See the chart below and      choose a brand you would like to learn more about 

Access the Padlet page and enter your choice followed by the names      of each group member. Do not choose      a product that a classmate/group has already selected.

Padlet Page link – https://centennialcollege.padlet.org/llessard/md02762wpngp8g02

  

Evive   Nutrition

 

Tangerine   Bank

 

Boston   Pizza

 

Primus

 

Timberland

 

The   Hudson’s Bay Company

 

Mark’s   Work Warehouse

 

Harvey’s   (Burgers)

 

Freshii

 

Kawartha   Dairy Ice Cream

 

Costco

 

Nutella

 

Ace   Bakery

 

Urban   Barn

 

Made   Good Granola

 

Chik-fil-A

 

Dr.   Oetker Pizza

 

Beaver   Tails

•  

Kicking   Horse Coffee

 

• Dairy   Queen

 

• Shreddies Cereal

 

• Lush

 

• La Croix

 

• YoSox

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