PART B: MARKETING PLAN 7

Part B: ABC Marketing Plan (Change to your name of business here)

Your Name

Class University

Professor Name

Date submitted

Introduction (note this is not bold)

Describe or list the feedback you received on Part A of your marketing plan. Explain how you will use the feedback to improve your plan.

Next, re-introduce your company you shared in Part A.

Lastly, review what you will share; branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.

Branding Strategy

Write an introduction here. Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension. For each of these sections below, provide rationale. Each section should be a minimum of three sentences.

Brand Name

Text starts here, provide rationale.

Logo

Text starts here (do not start with an image of your logo, describe first); provide rationale. Relay what the logo means, example Nike’s swoosh logo. If you use an image of a logo, make sure you use APA formatting (labeled Figure 1 include description per APA). Example below:

Figure 1. Your company name logo and short descrption.

Slogan

Text starts here, (do not start with your slogan, describe first); provide rationale.

Brand Extension

Text starts here, provide rationale.

Primary and Secondary Target Markets

Determine the primary and secondary target markets for your company. Thoroughly include the demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile, professional profile, geographic profile, and any other segmentation variable you deem necessary. Considerations for your target markets should be age, lifestyle values, attitudes, wants and needs, gender, number of kids, education income, stage in the household lifecycle, geographic location (urban vs. rural, etc.), or risk orientation, etc. Make sure your target market is not too broad, be focused and concise using a multiple of characteristics. Provide rationale

Positioning Statement

Start with an introduction sentence or two. Then state what is your unique selling proposition (USP), who do you consider to be your competitors, and how does their positioning statement (as they are seen in the marketplace, what’s their USP differ than yours. Include a perceptual map that shows your company’s position against its competitors. You may use Microsoft Word, PowerPoint, or other equivalent software to create your perceptual map (suggestion: use Snip-it or Jing to take an image to drop in Word to keep the formatting you created). See textbook pages 107-113. Follow APA Figure formatting (your map should be labeled Figure 1 or 2, depending on if you used a figure for a logo, include description per APA). Figure 1 example is below:

Figure 1. Perceptual map representing Your Company Name in relation to competitors XYZ company, ABC company, and AAA company.

From this map, create a statement that depicts your position. Prepare a positioning statement (i.e., “For customers who want [segment], our brand is the best at [unique selling proposition—competitors and competitive advantage].”). See textbook pages 107-113.

Under Armour example:

Under Armour’s mission statement is: “Under Armour’s mission is to make all athletes better through passion, design and the relentless pursuit of innovation.” A converted position statement might be: “For athletes who want to be the best, Under Armour is the best at making all athletes better through passion, design, and the pursuit of innovation.”

Note: See page 110 in the textbook for example of another perceptual map.

Consumer Behavior of Target Market

Examine the relevant consumer behavior for your target market (use segmentation and targeting rationale from your textbook). Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market. Objective is to examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing. Remember your target market should consist of more than one characteristic (e.g., age, lifestyle values, attitudes, wants and needs, gender, age, number of kids, education income, stage in the household lifecycle, geographic location (urban vs. rural, etc.), or risk orientation, etc.). Good place to use references on consumer behavior from Journal of Marketing.

Conclusion

Summarize the plan to this point (minimum of three sentences) and you should not include any new thoughts (just summary).

References (note this is centered and not bold and on a separate page)

Use at least three (3) academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Newspapers, magazines, and other Websites do not qualify as academic resources. Quality references are peer-reviewed, scholarly journal published in the last 5 years. A good way to incorporate is by using Journal of Marketing for your theories and consumer behavior observations.

Listing your references without applying them in your text (citations) is not acceptable!!! See proper formatting in APA hints on page 7 of this document.

Tips and APA Formatting (delete this from your paper)

Below are tips and notes to guide you writing an APA paper. Use this information as a reference and ask if you have any questions.

Tips and Notes:

1. NEVER plagiarize: Plagiarism: act of using someone else’s ideas, words, figures, unique approach, or specific reasoning without giving appropriate credit.

2. Always include an introduction for your Heading 1 topic (example: Environmental Analysis) to explain to the readers what they learn in the section you are introducing.

3. Paragraphs should be complete, such as a minimum of three sentences:

a. “Put only one main idea per paragraph.

b. Aim for three to five or more sentences per paragraph.

c. Include on each page about two handwritten or three typed paragraphs.

d. Make your paragraphs proportional to your paper. Since paragraphs do less work in short papers, have short paragraphs for short papers and longer paragraphs for longer papers.

e. If you have a few very short paragraphs, think about whether they are really parts of a larger paragraph—and can be combined—or whether you can add details to support each point and thus make each into a more fully developed paragraph.” (https://owl.english.purdue.edu/owl/resource/606/02/ )

f. http://blog.apastyle.org/apastyle/2011/12/the-long-and-the-short-of-it.html