Individual Marketing Strategy Formulation Assignment

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Page numbers 6-7 + Appendices (Be concise – do not allow your report to exceed the maximum number of pages)
Directions: Select a small or mid-size business or a new tangible product (not a Service), This could be either a local or national business, and describe its marketing strategy using the below guideline.
Business Name and Location or the new product description:
Summarize the marketing strategy in a paragraph:
1. Describe the businesses general market and specific target markets.
2. What is the Purchase Behavior for the typical customer (frequency, quantity, involvement, brand loyalty, etc)?

  1. Product Strategy
  2. Description of product
  3. Product Quality Strategy
  4. Product Service Strategy
  5. Competitive positioning of product
  6. Competitor issues
  7. Distribution Strategy
  8. Channels used to distribute the product.
  9. Costs
  10. Competitor issues
  11. Price Strategy – explain the business’ pricing strategy, cost and markup considerations, competitive pricing considerations and value to the consumer.
    A. Basic Price Strategy
  12. Skimming vs Penetration
  13. Cost Plus
  14. Others?
  15. Competitor issues
  16. Promotion Strategy – Overall, how does the business communicate with its customers?
  17. What is the advertising strategy?
  18. What is the personal selling strategy?
    Foundations of Marketing – MKT302
    Page 7
  19. What Sale Promotional devices are used?
  20. What Publicity options are used?
  21. Competitor issues
  22. Technological Issues
  23. Trends
  24. Impact on product offering.
  25. Financials
  26. Sales Volume Forecast
  27. Marketing and Service Provision costs
  28. Estimated Income.
  29. Competitor issues
  30. Any positive and Negative points Recommendations or course of actions.
    You need to formulate your own suggestions covering changes in marketing strategy that will improve the future performance of the company or the new product for the benefit of the stakeholders. Justify your choices again using marketing methods and techniques that were learned in the class.
    These recommendations should be your own ideas but may include marketing tactics and strategies used by other successful organizations but in different industry sectors as applies into this company.
    Please do not just restate the strategies used by your chosen firm but outline your own recommendations and ideas for improved performance.
    The report should include facts and figures from company, academic and professional journals, newspapers, magazines, and text book. The material used from other sources should be referenced properly.
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