Guideline for Individual Paper 1
This paper is based on the process of marketing strategy plan we learned in Chapter 2. Also, several concepts we learned in this class are included. Before suggesting the marketing strategy, you need to review and evaluate the company in diverse ways. This paper should be at least four pages, single-spaced, 12 point, Times New Roman font. It should include headings to indicate section breaks, but it should also be a seamless flow of ideas. Also, you should include references (APA style) if you extract information from certain sources. Due is by 11:59 pm on December 18th.
(If you want to get feedback for the Individual Paper 1, please upload your draft by Nov 12th, 11:59PM; Assignments Tab)
Scenario: Choose a brand that you want to work in in the future. You can choose any brands (e.g., consumer goods brands, B2B brands, social media brands, retail brands). If you don’t, choose a brand from Unilever.
Assume that you are working as an assistant brand manager of a brand that you chose. Your job is to propose a marketing strategy to increase a market share of the brand.
Marketing Strategy Plan
1. Current analysis
· Step 0: Brief description of the brand you chose, and discuss which marketing management philosophy (Product Orientation/Market Orientation/Sales Orientation/Societal Marketing Orientation) the brand has.
· Step 1: Describe the brand (if not, the business) mission or objectives and the scope of activities to achieve the mission or objectives.
· Step 2: Conduct situation analysis for the brand
· Conduct SWOT analysis
· Draw a perceptual map for the brand and its competitors within the specific industry (based on secondary data or survey at least 5 people)
2. Proposal of your marketing strategy
· Step 3: Setting your marketing plan objective.
· Describe the marketing plan objective
· Describe whether your marketing plan objectives can be under which category of Ansoff’s matrix (Market Penetration/Market Development/Product Development/Diversification)
· Step 4. Describe a target segment(s) to achieve your marketing plan objective.
· Step 5. Develop Marketing Mix (4Ps)*
· Create 4Ps to achieve your marketing plan objective. Make a concrete and innovative marketing mix.
· Create a marketing event (e.g., brand campaign, launching event) or a marketing material (e.g., flyer, social media advertisement) under the marketing mix.
* How to simply approach Step 5
To make the marketing mix portion more approachable for students, consider breaking it down into smaller, clearer steps with examples and guiding questions. Here’s a simplified version of the Step 5:
Marketing Mix (4Ps) – Simplified for Students
1. Product
· Describe the product/service you’re proposing on.
· Guiding Questions:
· What are the key features or benefits of your product?
· How does it meet customer needs, especially for the target segment you identified?
· Example: If you chose a skincare brand, how can you highlight a new feature such as eco-friendly packaging or a new formula that appeals to eco-conscious consumers?
2. Price
· Objective: Propose a pricing strategy to attract your target segment.
· Guiding Questions:
· Will your pricing be competitive or premium? Why?
· Should you offer discounts, subscription pricing, or bundles?
· Example: If you’re targeting price-sensitive consumers, you might suggest offering a discounted starter pack or loyalty rewards.
3. Place (Distribution)
· Objective: Explain how you will make the product accessible to consumers.
· Guiding Questions:
· Where will the product be sold (online, retail, both)?
· How can you reach the target segment more effectively?
· Example: For a fitness equipment brand, you might suggest expanding to e-commerce platforms like Amazon to reach a broader audience.
4. Promotion
· Objective: Propose promotional tactics to create awareness and engagement.
· Guiding Questions:
· What is the best way to promote your product to the target audience? (e.g., social media ads, email campaigns, influencer partnerships)
· Can you create a unique marketing event or campaign to generate buzz?
· Example: If you’re working on a food brand, you could plan a social media contest where users share recipes using your product, with a prize for the best entry.
Marketing Event or Material
· Objective: Create a simple promotional event or marketing material.
· Examples:
· Event: Plan a product launch event with influencer participation.
· Material: Design a flyer for a local promotion or create a social media ad to boost brand visibility.
Key Reminders
· Keep the marketing mix focused on your target audience.
· Each element (Product, Price, Place, Promotion) should work together to support your marketing objective.
· Use the information you gathered in your current analysis to guide your decisions.