Marketing Information and Research
Once again you will be submitting the updated marketing plan template for this assignment. You should be building the template as we move through the assignments. The information below is a guide, you should build the information inside one of the template categories. If you feel that a section does not fit the marketing template, you may add that section as another group of data inside the most relevant section.
Due Date Note – once again you have two weeks for this assignment, it will be due at the end of Week 6. However, do not procrastinate. In Week 7 you will compiling the first full draft of the marketing plan. Taking time over the next two weeks on this assignment will save significant time in Week 7. In Week 7 you will only have one week to submit the first draft so that the instructor has time to provide feedback.
Student Instructions: Complete the following information about the organization and products and/or services you will focus on as you develop a complete marketing plan throughout the course. You may need to do research to get answers to the questions below. The subject for this assignment should be the organization and products and/or services you identified for the Marketing Plan, Part 1 Assignment.
Marketing Information and Research
Research Question
Describe an important question you need to answer or a problem you are trying to solve in order to help the organization meet its goals and objectives.
Information Needed
Describe the information your organization needs to make effective decisions about how to answer this question or solve this problem.
Research Recommendations
What research do you recommend in order to provide the information you need? What research method(s) would you use to get the information you need? Will it involve secondary data and research? Primary research such as interviews, focus groups and surveys? Why do you recommend this research approach?
Customer Decision-Making Profile
Identifying the Customer and Problem
Describe a primary decision maker in your target segment: who they are, what they like, how they make buying decisions. Describe the primary problem(s) your organization, product or service will help them solve.
Factors Influencing Customer Decisions
Provide a brief profile of your target segment using at least three of the following categories:
- Geographic characteristics: e.g., location, region, population size or climate.
- Personal and demographic characteristics: e.g., age, gender, family size, family life stage, income, personality.
- Social and Psychological characteristics: e.g., culture, social class, lifestyle, motivation, attitudes, reference groups, beliefs.
- Situational characteristics: e.g., buying situation, level of involvement, market offerings, frequency of use, brand loyalty.
- B2B/organizational buying considerations: e.g., individual factors, organizational factors, business environment factors, types of complexity
Reaching the Customer
Based on this profile, identify 2-3 marketing strategies or tactics you believe would be effective at reaching this target segment, and briefly explain why they are a good fit.
Positioning and Differentiation
Positioning and differentiation explain what you want to be known for in the market, and how you are different from competitors. Respond to the following questions.
Competitive Advantages
List the competitive advantages of the product, service or organization you’re focusing on: the things that make it different from competitors in positive ways.
Market Niche and Positioning Strategy
Describe the market niche you want to fill, along with the positioning strategy you recommend using. Why do you think this is the right approach?
Positioning Statement
Develop a positioning statement using this formula: “To [target audience], [product/service/organization name] is the only [category or frame of reference] that [points of differentiation/benefits delivered] because [reasons to believe].
Repositioning Considerations
Do you recommend a repositioning that improves on what the organization has been using up to this point? Why or why not?
Branding
Brand Description
What is the “brand” you are trying to build? What do people think about this brand today, and how do they experience it?
Brand Promise
What is the brand promise for this brand? If one hasn’t been defined yet, create one. If you believe the brand promise needs improvement, please suggest how you would refine it. Why is your recommended brand promise a good fit?
Brand Voice and Personality
Describe your brand voice and personality using the is/is never template:
- [Brand] is:
- [Brand] is never:
Brand Positioning and Strategy
Make a recommendation about brand positioning and/or branding strategy to help build the brand and contribute to align it with what your target segment wants. How will this contribute to the success of your product, service or organization?