MKTG716: Marketing Portfolio Part 2 Assignment Solution

Marketing Portfolio Part 2 Assignment

Instructions:

This is the second part of the 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 brand in Canada of Hudson Bay Company.

You will be doing this in same group that you did with Assignment #1.  You can also do this on your own, or if you did this on your own for Assignment #1, can join other students.  However, each group can only have maximum 3 students in it. If you want to change or merge groups, please email me so I am aware.

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Using the same consumer product that you have chosen from assignment 1, you will need to identify your target market and consider where you think your product is on a product life cycle. Your group will also need to conduct a competitive pricing analysis, determine your promotional objective, and outline a promotional plan.

This report should be a written summary of 5-7 pages answering the following questions:

1. Choose a single target market to focus your marketing plan on. Develop a detailed Target Market Profile. Your Target Profile can be submitted as a “Day in the Life”, a Collage, or any other format you deem appropriate that helps answer the question “Who is the primary market to purchase my product?” (ie: who is Most Likely to buy the most from me?) Your profile should include a summary of the customer’s needs and wants and a description based on variables such as demographics, psychographics, lifestyle etc. Be sure to quantify this target market.           (10 marks)

2. Develop a market Positioning Map using 2 dimensions that you think are important to your target market and including at least 3 other competitors who sell within this product category. Create a Positioning Statement and a Tagline for your product.                                                                                                                      (10 marks)

3. Draw a Product Life Cycle and identify the stage that you think your product is at on it. Explain why you think that your product is at this stage. What marketing strategies should be considered next and why?                                                  (10 marks)

4. Identify and critique your product’s current Pricing (i.e. do you think that the current pricing is appropriate? Why or why not?). Make a recommendation as to what type of pricing objective, strategy, and tactics your product should be taking. Explain your recommendation.                                                                                            (10 marks)

5. Given your identified target market, the product life cycle, and the competitive landscape shown in your positioning map, identify a minimum of 3 IMC tools in the Promotional Mix (e.g. Personal Selling, PR, Sales Promotion, Direct Response, Word of Mouth, Advertising – broadcast, print, etc.) you think would meet your Promotional objective. Explain and provide rationale.           (10 marks)

6. Given your identified position in the product life cycle, outline what you think the Advertising should be to promote your product. Explain the type and advertising objectives. What is the key message you are trying to share with your target audience? Specifically, what media form do you recommend for each? (10 marks)

7. Subscribe to trial account at http://animoto.com/ and complete an original 20-30 second Advertising Video for your product. Include a link.                     (5 marks)

8. Overall professionalism (cover page with title, date, names, course code and section, instructor’s name, section title headings, spelling, etc.) (5marks)          

 

Format: Marketing Portfolio Part 2 Assignment

• A type written 5-7 page e copy submitted via e-centennial dropbox: See format example below.
• The 5-7 pages includes a title page that includes the assignment title, date, name of this class and section, the instructor’s name, and names and student numbers of all group members, bibliography with citations.  No less than 11 point font and spaced 1.5.
• Your paper will be reviewed for correct spelling and grammar. Use APA format for all sources.  Remember to source through your document, not just at the end. Submit via e-centennial
• Plagiarism: Is a serious offence at Centennial College! You paper will go through Turn-it in to review plagiarised content and I will be reviewing other sites where papers have been posted.  You do not want to get 0 marks for plagiarising!

 

Due Date: Wednesday, April 6th

• Submit to e-cenntenial assignment dropbox under Assignment #2

• Late submissions will not be eligible for grading.

 

 

MOST IMPORTANT:

READ AND FOLLOW THE RUBRIC AND TEMPLATE BELOW!

 

 

 

 

Assignment Rubric: Marketing Portfolio Part 2 Assignment

 

 

Format for Assignment #2 MKTG 716

1. Target Market

   Detailed Target Market Profile of who is the buyer for your product. Read the instructions, rubric, and text for context.

 

 

2. Positioning Map

   Insert your Axis labels: Your brand and three competitors

1. b) Positioning Statement: Be clear and follow the format in the textbook

1. c) Tagline: Make sure it relates to the positioning statement

3. Product LifeCycle
   a) Drawing of Product Life Cycle
4. b) What Stage is your brand in?

5. c) What Marketing Strategies should be considered based on the lifecycle stage?

4. Pricing
   a) Current Product’s Pricing vs Competitors
5. b) Tell is why the pricing appropriate or not
6. c) What pricing recommendations for
   Objectives:

Strategy:
Tactics:

 

 

5. Three IMC Tools

 

 

6. Advertising Creative

   a) Advertising Objective: Marketing Portfolio Part 2 Assignment

7. b) Main Message Received from the Consumer:

   c) Media Plan: Recommended Mediums Used

 

 

7. Video Posting

   url Link to Video:

Marketing Portfolio Part 2 Assignment