MKT 205 Project Guidelines and Rubric
MKT 205 Project Guidelines and Rubric
Competencies
In this project, you will demonstrate your mastery of the following competencies:
Apply elements of the marketing mix to inform business decisions that support organizational objectives
Determine appropriate marketing and communication distribution channels
Explain how marketing decisions are made to target the consumer
Scenario
Chocolate Bliss started as a small, family-owned store in Seattle, Washington, in 1976. While once a boutique chocolatier selling handmade “secret family recipe” chocolate bonbons, now the company has a wider variety of product offerings, including boxed chocolate candies, chocolate baking products, and carob (chocolate alternative) candies and health bars. Chocolate Bliss products are sold online and in its stores to consumers and to other businesses, specifically grocery stores, throughout the Northwest.
The company has maintained its “secret family recipe” brand even as it has expanded its product offerings and now enjoys strong brand awareness in the states where it is sold.
The company’s primary competitors are:
Ghirardelli Chocolate Company
Chocolate Bliss’s higher-price range baking products, which are sold in grocery stores, compete directly with Ghirardelli.
Chocolate Bliss also competes with Ghirardelli for its boxed chocolate candies, which are sold in its stores, in grocery stores, and online to consumers.
Nestlé
Chocolate Bliss’s mid-price range baking products, which are sold in grocery stores, compete directly with Nestlé.
Rise Bar
Chocolate Bliss competes with Rise Bar for its carob (chocolate alternative) products that are sold in its stores, in grocery stores, and online to consumers.
Chocolate Bliss is financially healthy and has plans to expand into the Midwestern United States. This expansion will include the launch of a new product.
You have been with the company for a few years and have been selected for the team that will develop a marketing plan for the new product launch. The executives at Chocolate Bliss will use the marketing plan to make decisions about how to best use the marketing budget to ensure a successful product launch, so you need to have sound research and reasoning to support your work that will contribute to developing a marketing plan. You also realize that the marketing plan is not just about a successful product launch; it is about building the Chocolate Bliss brand and positioning the company strongly against its competitors, especially regarding price point.
Three chocolate bonbon candies
Directions
Product Selection: State which product you want to be the basis of your entire project. Specifically, choose one of the following products:
Gourmet truffles with fruit, herbs, and flower extract infusions
Semisweet chocolate baking chips
“Healthy” carob (chocolate substitute) bars
Based on your product selection, complete the components below, which will contribute to the development of a marketing plan. You will use the Marketing Plan Strategy Template linked in the What to Submit section below to help structure your marketing plan submission.
Persona (Target Market): Research the target market (potential buyers) for your chosen product to develop a persona. Specifically, address the following points:
Demographic Characteristics: Develop a logical description of the required demographic characteristics of the target market based on information from appropriate research sources.
Identify the following demographic characteristics based on your research: age, gender, occupation, level of education, income level, marital status, and number and age range of children.
Psychographic Characteristics: Develop a logical description of the required psychographic characteristics of the target market based on information from appropriate research sources.
Identify the following psychographic characteristics based on your research: hobbies and interests, wants, product-related buying behavior now, goals, product-related preferences, shopping preferences, and lifestyle.
Personas: Create a plausible fictional persona that includes all the required elements based on your research. Use the Module Two Milestone Worksheet in your Soomo webtext to create your persona.
This aspect was addressed in the Module Two Milestone. Use the feedback received from your instructor to revise your persona as needed for inclusion in this final project submission.
Promotion: Recommend marketing communication channels for your chosen product. Specifically, address the following points:
Marketing Communication Channels: Describe two marketing communication channels for your chosen product. Briefly describe each and explain why they are appropriate based on your persona.
This aspect was addressed in the Module Four Milestone. Use the feedback received from your instructor to revise your marketing communication channel selections as needed for inclusion in this final project submission.
Price: Consider how pricing for your chosen product should be set. Specifically, address the following points:
Approach to Pricing: Explain how one of the following factors is used to determine the approach to pricing for any offering.
Company profitability
Competitor pricing
Target market price sensitivity
Pricing Strategy: Select which one of the four basic pricing strategies (skimming, premium, economy, or penetration) you feel is most appropriate for your chosen product and persona from the Module Two Milestone. Describe the general advantages and drawbacks of that pricing strategy.
This aspect was addressed in the Module Four Milestone. Use the feedback received from your instructor to revise your pricing strategy selection as needed for inclusion in this final project submission.
Place (Distribution Channels): Consider how decisions on distribution channels should be made. Specifically, address the following points:
Recent Change in the Marketplace: Explain one recent change in the marketplace and how it has affected the distribution of products. Examples of changes include purchasing habits or social, economic, and political events.
Distribution Channel: Recommend one distribution channel (direct-to-consumer, retail, wholesale, distributor, or agent or broker) for your chosen product. Provide a logical explanation as to why it is appropriate given your product and persona.
This aspect was addressed in the Module Five Milestone. Use the feedback received from your instructor to revise your distribution channel selection as needed for inclusion in this final project submission.
Product: Identify considerations for the ways in which your chosen product should be marketed. Specifically, address the following:
Marketed: Explain, in 1‒2 paragraphs, how your chosen product should be marketed in relation to meeting the needs and wants of your persona (for example, the features and benefits of your chosen product that directly address your persona’s needs and wants).
Consider how a product you regularly purchase is marketed in terms of consumer needs and wants. What is the marketing message, and what other methods are used to convey the benefits of the product? Use this as a guide to describe how you would suggest marketing your chosen product to your persona.
Brand: Provide 1‒2 paragraphs on how bringing this product to the marketplace can help support and build the company’s brand.
Describe the Chocolate Bliss brand based in the scenario. Explain how offering your chosen product is in alignment with the brand, and how bringing the product to the marketplace will help the company increase awareness of its brand.
This aspect was addressed in Module Six.
Evaluation: Identify how you would evaluate the effectiveness of the marketing plan. Keep in mind that you need to collect data on the target market and the competition.
Quantitative: Select two specific quantitative data-collection tools you should use and explain, in 2‒3 paragraphs, how they can help you evaluate the marketing plan. Quantitative data comes in the form of numbers.
Qualitative: Select two specific qualitative data-collection tools you should use and explain, in 2‒3 paragraphs, how they can help you evaluate the marketing plan. Qualitative data comes in the form of words and sentences.
This aspect was addressed in Module Seven.
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