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Using the same hypothetical company from Part A: Marketing Plan Input, for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.

Note: You should make all assumptions needed for the completion of this assignment.

Instructions

Create the second part of your marketing plan in 5–7 pages using the Part B Marketing Plan Template [DOCX]:

1. Explain how you will use the feedback you received on Part A of your marketing plan to improve your plan.
2. Develop a branding strategy for your product or service that covers the brand name, logo, slogan, and at least one brand extension.
3. Analyze the primary and secondary markets that you want to target, including the demographic profile (age, gender, ethnicity), psychographic, professional, and geographic profiles.
4. Prepare a positioning statement that depicts your position using a perceptual map that shows your company’s position against its competitors.
5. Explain the main reasons why the brand name, logo, slogan, brand extension, and positioning statement are right for the identified target market.
6. Use at least three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

Feedback from Part A: A marketing Plan

Introduction: You need to introduce the contents of your marketing plan.

Mission Statement: The mission statement is succinct and straight forward with a solid rationale. Your mission statement will help you move forward and focus your hypothetical company in the direction to best serve your consumer while utilizing all your resources in a cohesive manner. All five questions in your mission statement were successfully answered.

Goals: Your stated short term and long term goals of either revenue, profit, market share, brand awareness or customer acquisition are SMART goals: S. – Specific; M. – Measurable; A. – Assignable; R. – Realistic; T. – Time based. Knowing what you plan to accomplish is a solid first step in building your marketing plan. There were, however, no measurements provided for your goals. These measurements are important to help you monitor your progress and adjust as needed.

Environmental Analysis: Please see textbook pages 45-51.

As a reminder, these six areas include the following categories of information and analysis. Competition: Who specifically is the competition and why do you consider them as such?

Political and Legal: Here government regulations and legal factors are assessed in terms of their ability to affect the business environment and trade markets. The main issues addressed in this section include political stability, tax guidelines, trade regulations, safety regulations, and employment laws.

Economic: Through this factor, businesses examine the economic issues that are bound to have an impact on the company. This would include factors like inflation, interest rates, economic growth, the unemployment rate and policies, and the business cycle followed in the country.

Technological – How technology can either positively or negatively impact the introduction of a product or service into a marketplace is assessed here. These factors include technological advancements, lifecycle of technologies, the role of the Internet, and the spending on technology research by the government.

Social – With the social factor, a business can analyze the socio-economic environment of its market via elements like customer demographics, cultural limitations, lifestyle attitude, and education. With these, a business can understand how consumer needs are shaped and what brings them to the market for a purchase.

SWOT Analysis: This section should include both a written SWOT analysis containing at least three of each element with rationale and a SWOT table summarizing each. You did not provide three elements for each point within the SWOT analysis. See textbook page 47.

References and Citations: You provided more than the required number of academic peer reviewed references (three or more), and showed a clear understanding of an academic, peer reviewed reference. All SWS formatting is correct.

Overall, I really enjoyed reading your paper. It was written as an academic paper which is appropriate. It was clearly written and very well-organized, which made it very easy to follow your analysis. I look forward to the development of your plan over the next few assignments.