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Hello,
There are multiple assignments included, see instructions attached for each.
Please message for more clarification if needed.
Files include: Assignment Topics(there are 3) and Collaborative Marketing Plans(there are 3 drafts to be completed)
There is a separate instruction file attached for the CMP Drafts.
BUSI 330
Collaborative Marketing Plan (CMP)
Overview
Introduction
In many organizations, the assignment and completion of team-based projects are increasingly done without any of the participants physically meeting. The use of technology, such as teleconferences, video-teleconferences, and computer technology has allowed organizations to reduce the costs of sending employees cross-country or even overseas. To be successful in this kind of environment, you need the ability to work with distant team members. This assignment provides the experience necessary to help you gain that skill.
The Assignment
You will work with other classmates to complete a Collaborative Marketing Plan that introduces a new product by an existing Fortune 500 company. If your team has an idea that would be a great fit for any company (perhaps even one that a group member is working for), be sure to seek the instructor’s permission before you implement it. Keep in mind that it is usually difficult to research smaller companies (especially those that are privately held unless you work for one and have good internal sources of information). You can change the name of the company if you wish to disguise the discussion of their strengths, weaknesses, or other “possibly sensitive” information.
Your groups will be formed during the first week of class per the instructor. Once you are notified of your group, begin working together on your Collaborative Marketing Plan. Please conduct all work on this plan in your Group Discussion Board (DB).
Your group will need to elect a project leader, set goals and milestones, and use creativity in this endeavor to develop and apply skills in a similar manner to real-world situations. It is critical that each member participates in group activities. To do less deprives every member, including the one who fails in his or her responsibility to the group. In general, it is the responsibility of the group to enforce its rules regarding completion of assignments, participation in discussions, etc. The instructor will be monitoring your Group DB forum on a weekly basis and, as needed, will comment on your postings. Part of your CMP grade is based on your participation.
This Plan will be completed in stages as described in the Assignment Instructions folder. Each Draft assignment builds on previous drafts toward the completed CMP due at the end of the course. All CMP assignments must be submitted via the designated Group DB forum.
Researching & Writing Your CMP
In your textbook, Appendix “A” (starting on p. 44 of the text) is a very useful resource if you need to write a marketing or business plan. The appendix contains a discussion of both marketing and business plans and also provides a sample marketing plan for a company called Paradise Kitchens, Inc. Please read the plan from start to finish (pp. 46 – 57). The plan is broken into 10 sections (plus appendices). You will be required to include the first 7 sections in your CMP. Be sure to write in APA format with Times New Roman, 12-point font, double-spacing, indentation, and consistency in all labeling.
College level writing is expected for this project. Areas where the students have had problems in the past are the following: spelling and grammar, omission of required topics or subject material, omission of outside references, plagiarism, and failure to meet stated length requirements. Grammar is one of the primary problems. Use the
LU Online Writing Center
as an aid.
CMP Accountability Table
The group concept of the CMP is intended to draw the skill and effort of each student into each draft assignment and to the final marketing plan. Thus, you are required to communicate and post weekly contributions, thoughts, ideas, and other helpful communication in your respective Group Discussion Board forums. Because part of your grade is based on this participation, it must be documented in the CMP Accountability Table (XLS). This table is to be completed and submitted with each progressive draft and with the final marketing plan. One student within the group should manage this effort, accurately reporting individual and team contribution.
CMP DRAFT 1
1. A thread that summarizes your group’s commitment to the project. This should include key criteria such as group expectations for participation by group members as well as a schedule related to member participation. Note that the group project includes both individual posts, review and critique of member posts and finally, a group consolidation of information for each module.
2. A thread in Group DB Forum 1 explaining your idea for a new product, the name of the company that will launch the new product and a short description of the company. Read ch. 3 for changing consumer and environmental trends that give rise to unmet or changing needs. You should also read ch. 8 & 10 to get an idea how marketing research can be used to support the development of new products.
3. Finally, a thread with Draft 1 of your Marketing Plan (MP) attached as a Word file. Your draft should contain the following sections:
· Company Description: Please see page 47 in your text for an example of the expected information in this section.
· Strategic Focus: You must research the company and identify the company’s mission (why the company exists; whom does the company serve) and (if possible) their vision (what does the company want to achieve – e.g., grow to become the industry leader, gain #1 status in the market; become known as an environmental leader).
· Company Goals: This one may be more difficult, but you may be able to find annual statements for the company (if it is publicly traded) or comments / speeches by the company CEO / president that will help you to identify either financial or non-financial goals.
· Core Competencies and Sustainable Competitive Advantage (SCA): Information on these two topics may not be readily apparent (especially the source of the company’s SCA, but you should look for information on these topics as you work through the elements of the MP.
CMP DRAFT 2
1. A post with Draft 2 of your Marketing Plan attached as a Word file. Draft 2 should include the following section:
2. Situation Analysis: Please review pp. 49 – 52 of the sample MP. You should notice that Section 4 (Situation Analysis) contains 5 major elements. They are:
1. SWOT analysis
1. Industry Analysis
1. Key Competitors
1. Company Analysis
1. Customer Analysis
CMP DRAFT 3
· A thread in Group DB Forum 4 with the final Marketing Plan attached as a Word file. In addition to the components identified in the previous drafts, this final MP should include the following sections:
· Marketing Programs & Financial Projections.
You should review pp. 54 & 55 of the text for examples of the key issues that should be discusses within these sections of the MP. You will need a comprehensive marketing program which includes a discussion of: the Product Strategy, the Pricing Strategy, the Promotion Strategy and the Distribution (channels) Strategy.
The last section on Financial Projections should show a five year projection of expected revenues. In addition, you should present some type of idea when BE (break-even) will take place. Companies that introduce new products generally do not make a profit in “year 1” because of the high development and marketing costs required to test and launch the product. Obtaining costs will be difficult, but you should try to estimate costs.
· Executive Summary (ES)
Finally, once the MP is written, you will need to write the Executive Summary. The ES is written last, but is placed right after the Table of Contents. You will want the reader to see the ES first. If they like it, they may read on. If it does not excite the reader, the MP will likely be discounted. The ES should contain only the most important findings, conclusions and recommendations contained within your plan.
· The Table of Contents
The Table of Contents should contain a list of major sections of your marketing plan with the names of the group members that participated in the actual writing of each section. This will allow the instructor to evaluate each member’s contribution to the overall group project.
· Appendices
The only Appendix required is a Reference List. Keep in mind that data and key information may need citations, but will surely require a reference list. A plan with no references will be considered marginal since information sources add considerable credibility to the ideas in your plan.
Business 330 (Marketing)
200 words responding to the topic presented
Assignment Topic 1: Consider an idea that you have had for a new product; a product that falls into that category of “Gee, I wish someone would develop_______…” or “…I’ ll bet ______ would be a great product.”
Here is your chance to develop the idea into a potential product!
Follow the 7 stages in the new product development process (found in ch. 10), submitting one explanatory paragraph for each of the 7 stages. Identify the stage, page number, & the specific application to your new product idea.
Be creative. Where you may lack data to completely consider any of the 7 stages with respect to your imagined product, explain what would be necessary and/or what you know about the respective stage, as it relates to the product you are developing.
Note: Remember that you are “imagining” or “creating” the information versus information that actually exists.
Throughout each stage, be specific in the summary of your idea/product.
This is an “outside the box” assignment, but standard formatting, spell check and grammatical accuracy is required
Assignment Topic 2: There are 3 parts to this forum: Segmenting the Market, Target Marketing, Products and Prices.
•Part 1 – In 2 well-written paragraphs, distinguish between these terms: market segmentation and target marketing. Define each concept and provide several insightful examples of each.
•Part 2 – In 2 well-written paragraphs, explain the following statement which refers to the concept called product positioning : “Sometimes a firm can achieve a key differential advantage by simply emphasizing how its offering satisfies existing consumer demand/desires and needs better than its competitors.”
Write 1 comprehensive paragraph, in your own words, defining the concept of product positioning (advantages).
Write 1 comprehensive paragraph, citing an example of a company, a product, and a positioning strategy that is NOT found in the textbook.
•Part 3 – In 2 well-written paragraphs, explain this comment which is referring to the concept called managing the product life cycle: “Sometimes demand patterns must be modified for consumers to perceive a firm’s product differentiation as worthwhile.” There are 3 different major choices in what can be “modified” with 7 sub-choices.
Write 1 comprehensive paragraph for each of the 2 choices you made that defines the specific concept.
Provide at least 1 real-world example for each concept.
This assignment requires at least 10 paragraphs to sufficiently answer the questions
Assignment Topic 3: There are 3 parts to this forum; the Push-Pull Marketing, Product Advertising, Customer-oriented Sales Promotions
Part 1 – The Push-Pull Marketing Strategy
•Write a brief paragraph, in your own words, that defines the concept of both the push channel strategy and the pull channel strategy.
•Write a brief paragraph that cites a real company that would use both the push strategy and the pull channel strategy.
•Write a brief paragraph, in your own words, stating which strategy you believe is the more effective strategy usually and your rationale for making that statement.
Part 2 – There are 3 basic forms of Product Advertising.
Locate a print advertisement (magazines, newspapers, direct mail, etc.) that has a special appeal to you personally.
•Write a comprehensive description of that advertisement so that your classmates can easily visualize it.
•Cite the publication source of the advertisement and the date it was published.
•Define how many of the three forms this advertisement fulfills.
•Describe, in your own words, why you believe this advertisement is effective on you and potentially others in the marketplace.
Part 3 – There are 10 tools listed in your textbook as Customer-oriented Sales promotions. Only two of these tools, coupons and rebates, are being considered for this assignment.
•Write a brief paragraph describing, in your own words, the concept of coupons as a sales promotion tool, and provide an example within your paragraph of a company that uses coupons.
•Write a brief paragraph describing, in your own words, the concept of rebates as a sales promotion tool, and provide an example within your paragraph of a company that uses rebates.
Write a comprehensive paragraph that compares the pros and cons of the 2 sales promotion tools from your perspective; include a statement as to which of the sales promotional tools appeals to you more, and state your rationale for that choice.
Please title your thread and the name of your product/firm employing the push/pull strategy or product listed on your coupon/rebate.
Topic:
Consider an international firm you are familiar with, and consider what the firm needs to be concerned about when entering a foreign marketplace. Specifically, in terms of the chapters we covered, what do you consider to be the 3 most important “uncontrollable environmental variables” that the firm should consider to gain a better understanding of buyers and markets (Global Perspective included)
Include the following:
1. A paragraph for each of the three variables where you will define, in your own words, what the uncontrollable force involves (three paragraphs total).
2. Cite the page number(s) from the textbook where the definitions can be found.
3. Two to three comprehensive paragraphs on how the chosen international company will benefit from understanding buyers and markets in a foreign land after considering these global environmental concepts.
Kerin, R.A., Hartley, S.W., & Rudelius, W. (2013). Marketing: the core. (5th ed.) New York, NY: McGraw-Hill/Irwin.
Replies to following:
1.In researching companies, I stumbled upon some interesting articles on various issues Disney has encountered while expanding globally. The three uncontrollable environmental variables I feel are most important when considering locating a company globally are cultural differences, language barriers, and consumer income and spending power.
Cultural differences (page 134-136) can include a country’s customs, values and symbols. Cross-cultural analysis should be considered in advance of extending a business operation into another country. The country should be fully researched to learn and understand their cultural preferences. When developing Euro Disney, the company did not consider the French’s love for breakfast and developed their marketing views based on the American’s habits. The company assumed the French would skip breakfast and go straight to the entertainment. Eventually, Disney adjusted the park food to accommodate this particular habit. This was a costly mistake which created a large amount of money and time wasted. Certain countries maintain different beliefs in vacation time and vacations, such as the French are not as willing to pull their children out of school to take a vacation as Americans are. A cross-cultural analysis could have brought such cultural differences to the attention of Disney.
Language (page 132) is a variable which must be considered by any business planning to move into a global market. In a country such as China, Chinese workers are needed to bridge the language gap and to also teach the American workers the grammatical meanings of the language. Words or sayings are sometimes interpreted to mean something totally different in some countries from what we feel they mean here in America. Disney must research and understand those language differences before proceeding into that market. Not understanding each other’s language can lead to communication problems and mistrust on both sides.
Consumer income and purchasing power (page 138-139) is another important variable to be considered. Visiting Disney is a not a necessity and is not something essential for existence. Disposable income available to the consumers in that country to devote to such luxuries or wants must be known prior to moving into the country. Disney discovered Euro Disney visitors purchased souvenirs less frequently than Americans causing their projected revenues to be less than expected. By developing a marketing strategy based on spending habits in that country, Disney may have been able to better project their revenue.
2. Starbucks is an international firm which has built a worldwide reputation for offering much more than just a cup of coffee. The Starbucks brand serves as an identity which encapsulates not only unique variations of coffee but more importantly a lifestyle.
The first “uncontrollable environment variable” is economic. The love of coffee seems to penetrate most cultural and environmental obstacles…the key is finding areas where people are willing to spend $4 plus for a cup of coffee. Along with with analyzing the consumer’s lifestyles it’s important to evaluate the local disposable and discretionary income which will affect the “buying value” for their purchase decision. (Kerin, Hartley, Rudelius, 2012. p.62,82) The brilliance of Starbucks is their efforts to maintain predictability and consistencty with their product. My close friend works in the “lean” department at the Starbucks headquarters and his entire job is to find ways to reduce waste through movement in any particular branch. His whole purpose is automation. The fact that a department like this exists is a clear indicator of the status Starbucks has reached regarding it’s research and development.
Secondly it’s important to find the consumer lifestyle. “How people spend their time, and resources, what they consider important in their environment.” (Kerin, Hartley, Rudelius, 2012. p. 92) Starbucks’ target audience is teenagers (13-17), young adults and adults. The fact that caffeine is a highly addictive drug helps sales but Starbucks has also been able to tap into other niches with Frappuccino and Tazo tea. I live in Seattle and 9 out of 10 times I will go out of my way to find a local coffee shop to help support…and then I remember that Starbucks is local! I prefer more distinct, unique and unpredictable flavors from my coffee. In other words: character. The key to Starbucks is, “You know what you’re going to get each time you order a product” and they have attained a staggering level of “brand loyalty” (Kerin, Hartley, Rudelius, 2012. p. 90) because of this quality.
Thirdly Starbucks has been excellent at recognizing the importance of “Going Green” which ties into not only “Corporate Culture and Expectations” but “Ethics” as well. Starbucks recently built a store which was made from reclaimed shipping containers. A greater awareness and sensitivity toward conservation and recycling permeates culture and environment as well because we all share this world. Starbucks has taken a multitude of steps in establishing themselves at the forefront of “Green” companies. (“Recycling & Reducing Wast.” Starbucks Coffee Company. N.p., n.d. Web.) “Socially responsible efforts on behalf of the general public are becoming more common.” (Kerin, Hartley, Rudelius, 2012. p. 73) This is cause marketing, which displays Starbucks effort in not just making profit, but helping the environment as well.
Starbucks has and will benefit from understanding the marketplace throughout the world because the market is changing. Knowledge of the consumer is key to establishing what they want and need and finding a way to fill both categories. Because of the success in the United States Starbucks has gained a reputation which has helped thrust it’s brand to new regions.
