Strategy portion of your Marketing Plan
Strategy portion of your Marketing Plan
in this task you will complete the Strategy portion of your Marketing Plan.
The Strategy Should include:
Segmentation
Targeting
Positioning
Goals
Complete a thorough analysis for your new venture.
To complete this task successfully first work through all learning resource activities:
Background Resources
1. Watch the LinkedIn Learning section: Section 3 – Developing your Strategy from the course Marketing Foundations with Drew Boyd (3 videos*)
*Download exercise file
2. (if you need further clarification) Read more about strategy in Chapter 3 of How to Write a Marketing Plan, Revised Third Edition
3. (if you need further clarification) Read Chapters 6-10 in Malcolm McDonald on Marketing Planning: Understanding Marketing Plans and Strategy
Task – The information below to be completed. Upload below:
1. Segmentation
How will you appeal to customers?
“When we segment based on attitudes, we’re looking for a benefit that meets three criteria: 1) our product actually delivers the benefit better than the competition; 2) customers perceive that our product delivers better; and 3) the benefit is rated highest in importance based on our customer analysis. If you find a benefit that meets these criteria, you select that as your segmentation variable.” ~Drew Boyd
Part 1: Demographics- Gather and analyze demographic data about the product or service you have chosen.
Part 2: Geographic- Gather and analyze geographic data about the product or service you have chosen.
Part 3: Behavioral- Gather and analyze behavioral data about the product or service you have chosen.
Part 4: Psychographic- Gather and analyze psychographic data about the product or service you have chosen.
2. Targeting
Part 1: Gather and analyze data to find an opportunity by segment.
Part 2: Draft your targeting strategy section for the final project’s marketing plan.
3. Positioning and
4. Goals
Draft your positioning strategy section for the final project’s marketing plan. Where do you want to be positioned in the market and what are your goals?
Review: The paper should include the following sections. Remember all assignments must be typed according to APA format.
This will include:
Segmentation
Targeting
Positioning
Goals
Add any graphs or diagrams you used in coming to your conclusions.
Upload below.
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