Unit 1-2 Lee’s Restaurant Marketing Strategy and Analysis Essay Assignment
Business Finance
Unit 1-2 Essay Assignment Instructions
Scenario: Lee is the owner of Lee’s (business type selected by your instructor), which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business.
Checklist: Summarize a marketing strategy for Lee’s addressing each step.
Professor chose Lee’s Restaurant as the business. In the Marion, Illinois area.
Step 1: Mission
Redefine Lee’s Mission. Lee’s current mission is more of a product oriented mission statement. For example, “We sell flowers” or “We make pizza.”
Using the online library, write a brief summary about what constitutes a strong market-oriented mission statement.
Rewrite a marketing oriented mission statement for Lee’s business.
Step 2: Situation Analysis
Describe methods that Lee could use to identify her internal strengths and weaknesses information. Explain your response.
Using the online library located in the Academic Tools area, conduct an environmental scan and identify opportunities and threats to the business. Examples could include competitive, technological, economical, sociocultural, political, and legal forces.
After completing your environmental scan or situation analysis, identify Lee’s competitive advantage against her direct and non-direct competitors in the city nearest to where you live. Ex. cost, product, or niche
Explain what advice would you give to Lee in her quest to build a sustainable competitive advantage?
Step 3: Marketing Objectives
Set Marketing Plan Objectives for Lee’s.
Identify at least two S.M.A.R.T. goals (i.e., Specific, Measurable, Achievable, Relevant and Time-bounded).
These first three parts of the paper should be a minimum of 2 pages and use APA format and citation style.
This week you will complete steps 4 –6 and submit Steps 1–6 as one document now in Unit 2.
This Assignment assesses the following learning outcome:
MT219-1: Summarize the basic components of a marketing strategy.
Read the scenario and respond to the checklist items based on the Reading and Learning Activities.
Scenario: Lee is the owner of Lee’s (business type selected by your instructor), which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business.
Checklist: Summarize a marketing strategy for Lee’s addressing each step.
You can view Steps 1–3 you completed in Unit 1 concerning the mission, situation analysis, and marketing objectives.
This week you will complete steps 4–6 below to submit your final Assignment in Unit 2.
Step 4: Marketing Strategy
Describe your target market strategy for Lee’s business. Paint a clear picture on who Lee will be targeting for her product.
Identify four (4) strategies for growth for Lee’s business using market penetration, market development, product development, and diversification.
Briefly describe your marketing mix strategy.
Step 5: Implementation
Using the concepts from the text, explain how you will turn your plan into a reality.
Step 6: Evaluation
Using the concepts from the text, describe how will you evaluate and control your marketing strategy.
Access the rubric.
Respond in a minimum 4-pages: two pages (500 words) for Part 1 and two pages for Part 2 (500 words) in a Word document with additional title and reference page using the current APA format and citation style.
Submit the Assignment to the Dropbox. It will be run through Turn It In analysis.
All references and citations must be from journal written sources, .org, .edu….no .com
