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Marketing Plan Assignment Summer II 2020 As summarized in your syllabus, you will prepare a “Marketing Plan” for marketing a new product or service in Rio Grande Valley. You should choose a product,...

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Marketing Plan Assignment Summer II 2020

As summarized in your syllabus, you will prepare a “Marketing Plan” for marketing a new product or service in Rio Grande Valley. You should choose a product, not a brand (do not prepare a project that talks about an existing brand). This means that, for example, you can choose “ice cream,” but you cannot choose “Ben & Jerry's," or you can choose a "restaurant," but you cannot choose "Olive Garden." You will be creating a marketing plan for your own brand from scratch! Do not copy any other brand’s mission statement, goals, objectives, etc.

You will submit the assignment online at the end of the semester (August 12). Please, do not wait the last minute to work on it. If you do so, your assignment will not be insightful. This is a comprehensive project covering all the materials you learn throughout the semester. Your marketing plan will follow the exact structure (and content) outlined below. This outline is parallel to the topics we will cover on Discussion Board as we progress throughout the semester, so each week you will learn something new to apply to and progress with your marketing plan. You can also see the Marketing Plan Rubric for assessment criteria.

OUTLINE

▪ Introduction
o You should state why you have chosen to market certain product or service in

RGV. Explain in half a page what motivates you?

▪ Mission Statement
o Your mission statement should have a market orientation, stating not only what

business you are in, but also its benefits for consumers, talking about the competitive sphere and the values of the company. Please check the guidelines provided in power point slides (Chapter 2) about writing a good mission statement.

▪ Marketing Objectives
o Your objectives must be clear, specific, and aligned with the business mission (like

saying “we will open two more stores by the end of 2020”). You should explain how you decided about these objectives. What makes you think that you can achieve them?

▪ Marketing Environment Analysis
o Detailed Analysis of the Marketing Environment (MICRO and MACRO) is the most

crucial part of your Marketing Plan since you will base all your strategies (Marketing strategy, STP strategies, and 4 P Strategies) on this analysis, so this part must be very much detailed under each sub-section (suppliers, competitors, consumers, etc. in the micro environment and demographic, political, economic, etc. factors in the macro environment), explaining how each factor will affect your Marketing Plan. For example, it is not enough if you only talk in general

about your competitors, instead you must mention their names and talk about their strengths and weaknesses, collect information from their websites. Same goes for suppliers/intermediaries, consumers etc.

o You must talk about all of the micro and all the macro factors you will learn in class and already mentioned in power point slides. Do not omit any of them.

o You must provide all supporting citations/references here (competitor websites, government statistics, etc.).

▪ SWOT Analysis
o You can conduct a realistic SWOT analysis only after your marketing environment

analysis. Strengths and Weaknesses are internal to the company versus Opportunities and Threats are external factors. When you talk about S and W, you must talk in relation to your competitors. For example, when you have an ability that others do not have, this may be a strength. In case you need, there is more information about SWOT in your power point slides and the textbook.

▪ Market segmentation, Targeting and Positioning strategies
o You need a detailed section about Segmentation, Targeting, and Positioning

Strategies (each under separate sub-title). Please, do not simply say “the company is targeting this type of customers.” Here, I expect you to explain in detail the segmentation criteria (demographic, psychographic, behavioral, and/or geographic, etc.), targeting strategy (multi-segment, mass marketing, or niching), and positioning strategy you choose. You will learn more about these in class.

▪ Marketing Mix Strategies:
o For the Marketing Mix, do not simply say what product, what price, which

channels, and what kind of communication tools you choose, but explain “why?” in detail. In the Marketing Mix section (as well as others), I expect you to apply the things you learn in class. Your Marketing Mix section will evolve much better as we will talk about each P after mid-semester.

o For Product, do not forget to talk about features/benefits, new product development, product/service strategy and competitive positioning.

o For Price, do not forget to describe and justify your pricing strategy. Talk about the internal and external factors affecting your pricing decisions. Why do you choose one strategy and not the others? The pricing strategy must be realistic. It is not enough to say, “we will charge this price.”

o For Place (Distribution) strategy, justify the choice of channel members. Include details about channel partnerships and relationships.

o For Promotion (Communication), please provide the promotional objectives and the justification behind the use of the various promotional tools (advertising, PR, sales people, promotion, direct marketing, social media, etc.). The promotional objectives and promotional tools must be integrated and consistent with each other.

Notes:

  1. Remember that the written report of your project is a business document. Be precise, concise and to the point. The information should be clear and specific. It must be written in Font: Times New Roman (or Calibri): 12 pt. and 1,5 space. I expect no discernible errors with spelling. Exceptional grammatical clarity is a must.

  2. The report will be written essay-type; however, it cannot look like one whole essay. You should use the section and sub-section titles as above. Each section should be written insightfully as described above.

  3. You must use citations/references both in the body of the paper and list them at the end of the document. Falsifying data, cheating, and copying other's work are serious breaches of ethics.

Your Marketing Plan Assignment report is due on August 12, 2020!

Answered Same Day Aug 08, 2021

Solution

Saloni answered on Aug 13 2021
129 Votes
1
Introduction
Rio Grande Valley is zone in Deep South Texas which covers Hidalgo, Sta
,Cameron, and Willacy countries. They valley is abundant in wildlife, livestock and farming making it fascinating . The region is known for its exotic birds, citrus orchards, warm weather and large number of palm trees. The area is third largest producer of citrus fruits in the United States and also the most important area for vegetable production in the great State of Texas. There are a lot of farmer that work on the agricultural land wearing footwear which should comfortable and affordable. The product will be catering both men and women. The product, I believe that will fetch me good return and also the need of the individual in the Valley. Good boots are essential for happy farmers. The calf high water proof boots that keep the feet dry and cooler. Rio Grande Valley has seen quite a bit change in the last few years and country’s population hits 1.5 million which signifies 20 percent growth per decade. Ecotourism is one of the major economic forces in the Valley, targeting the tourist to give the best quality at a good price will promote my business.
Mission
We are committed to deliver the best comfortable shoes to the farmers at affordable price. They give us food, we give them safety.
Objective
· To give superior quality at a affordable price
· To ensure product innovation and a buying experience that consistently exceeds expectation of the customers.
· To be the market leade
· To increase employment rate
· To introduce premier product at a later stage
Marketing Environmental Analysis
Marketing Environment indicates the mixture of internal and external factors and forces which influence the potential of the company to form a relationship and serve its customers.
Macro environment
The Macro environment indicate the larger societal forces that affect the environment . It consists of six different forces that shape the opportunity and also turns to be a threat to the company- Demographic, Economic, Political, Ecological, Sociocultural and technological (DEPEST model )
· Demographic Forces- Rio Grande Valley has a population of 1.5 million and is considered as one of cheapest country to stay in. The median age for the Rio grande valley is 29.5. The major target age group for my footwear for men and women will be 20-40 years.
· Economic Forces- The income and lifestyle of the residents are comparatively simple. A product that give them maximum comfort at affordable price will be target.
· Political Forces- Every business product is restricted by the political environment like pressure group, law and government agencies. The Valley is known for its reputation of dirty politics and co
uption. The political culture is the biggest challenge in marketing a new product and needs to change from political indifference to active political engagement.
· Ecological Forces - One of the biggest challenge facing research is to solve complex problem that threaten sustainability of the middle Rio Grande basin.
· Sociocultural Forces- This refers to the factors that affect the society’s basic values, preference and behaviour. A proper analysis of the values and preference has been done. People of Rio Grande Valley is cele
ate transition of young lady into womanhood on her fifteenth birthday ( Quinceaneras). They are also very fond of sports like basketball, baseball and hockey. People are proud of their history and follow traditions happily. Preference of the design and pattern of shoes must be decided keeping all the factors in mind,
· Technological Forces- this refers to the technology used to create the footwear. Focus should be majorly on people that is which technology to be used to achieve the target. Secondly finding out whether it will be easily available in the country the product is to be launched. By technology, we mean technology for production as well as for promotion; how will people know about the particular new
and and product.
Micro Environment
The Micro Environment introduce to the actions that directly affects the ability to serve its customer. It consists of six different forces that are distinct and individual- company, suppliers,...
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