From the start of this course, you have accessed the Interactive Marketing Plan tool and used the step-by-step guide to complete Part B of your marketing plan. You are required to submit a marketing plan for a hypothetical product-based company. Your plan must include the company’s mission, introduction and branding, and information collected from Step 5 of the Interactive Marketing Plan, located in the course shell. Note: Some elements may not be covered in the Interactive Marketing Plan and will require additional research.
Note: You may create and /or make all necessary assumptions needed for the completion of this assignment.
Write a four to five (4-5) page paper in which you:
- Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension
- Assemble a marketing strategy for your product, and determine an appropriate time table to implement your plan). Provide a rationale for your response.
- Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position. For example, “Our product is the fastest in its class for half the price.” Note: See pp. 54 – 55 in the textbook for examples of perceptual maps. You may use Microsoft Word, PowerPoint, or other equivalent software to create your perceptual map.
- Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement and marketing strategy are right for the identified target market.
- Develop your company’s mission statement and company introduction.
- 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: Wikipedia and other Websites do not qualify as academic resources.