MT 450 Market management
The Consumer and Business Market
Scenario Marketing
As the marketing manager of a major franchise, your job will
be to perform the daily tasks of a marketing manager.
Select one of the franchise companies below for which you
would like to be Marketing Manager.
1. Edible
Arrangements® – Edible fruit baskets â Creates fresh fruit arrangements and
gourmet chocolate dipped fruit to order.
2. Cartridge
World® – Cartridge Company – carries a complete line of both inkjet and toner
printer cartridges. Offers both remanufactured and Original Brand (OEM) ink and
toner cartridges for nearly all brands of printers, copiers, fax and postage
machines.
3. Liberty
Tax Service® – Taxes â provides tax service to both consumers and businesses.
Assumptions
⢠Your plan
is to aggressively go after the consumer and business market creating dual
revenue streams. Your marketing strategy, research marketing mix and customer
relationship marketing will be different for both groups.
In this scenario, you will be responsible for conducting the
following tasks:
⢠Observing
and analyzing market trends
⢠Examining
competitors’ products and services
⢠Investigating
ways of improving existing products and services, and increasing profitability
⢠Identifying
target markets and developing strategies to communicate with them
Assignment
There are two parts to this Assignment so be sure to
complete both parts.
Part 1: The Consumer and Business Market
Write a brief paragraph that answers the following
questions. (This should not be in Question/Answer format).
⢠Which
company did you choose as your focus in this Marketing Management Assignment?
⢠Where are
the company’s headquarters located?
⢠What is
the mission statement of the company you chose to study?
⢠The
previous marketing manager developed an advertising campaign before the
marketing strategy. How could this advertising campaign potentially create
problems for the product?
Part 2: Marketing Strategy Planning
In preparation for your first presentation to the CEO of the
organization, you will create a 3â5 page paper.
You will examine how the 3 Câs (customer targets,
competitors, customer value proposition) and 4 Pâs (Product, Price, Place, and
Promotion) of marketing strategy influence marketing decisions about how you
can increase purchases to consumers and increase purchases for
business-to-business.
Your goal is to complete the consumer and
business-to-business marketing strategy planning document. Using the bolded
words as subheadings for each response as seen in the PDF of this Assignment,
answer the following:
1. SMART
Goals: Using the SMART acronym, list several objectives you wish to accomplish.
2. The 3 Câs
of marketing strategy:
Customer Targets: Discuss the customer targets (target
market), you should have at least two. Provide for the CEO a more specific
description of which customers you (the marketing manager) want to persuade to
buy the product or service.
Competitors: For each customer target, identify a competitor
(brand or company) that may be able to provide the customer target a like
product that would appeal to them.
Value Proposition: What do you see as the value proposition?
What are reasons for customers to purchase your brand/product. Summarize into a
single paragraph.
3. The 4 Pâs
of marketing strategy: Marketing Mix for the Consumer Market: Describe each of
the 4 Pâs as it applies to consumers that would purchase your product
a. Product
b. Price
c. Place
d. Promotion
4. Marketing
Mix: Business-to-Business Market: Describe each of the 4 Pâs as it applies to
business that would purchase your product
a. Product
b. Price
c. Place
d. Promotion
5. Competitive
Advantage: Using one (or more) of the competitive advantages below, describe
the components of this advantage and why customers will perceive them as an
advantage for your product or service over its competitorsâ.
1. Cost-based
advantage
2. Price-based
advantage
3. Quality-based
advantage
4. Differentiation
advantage
5. Perceived
quality advantage
6. Brand-based
advantage
Product
Life Cycle: Discuss the companyâs products in The Product Life Cycle (PLC). Why
do you think they are in that stage? Do you think there is any possibility of
changing the current stage of the Product Life Cycle? For instance, if current
products are in the maturity stage, what can the company do to have products in
the Introduction or Growth stage?
Increase
Purchases: Consumers: Thinking of your consumer target market, how can you get
current customers of the product or service to buy more?
Increase
Purchases: Business-to-Business: Thinking of your business-to-business target
market, how can you get current customers of the product or service to buy
more?
Provide a 3â5 page (APA formatted) marketing strategy plan
paper with at least three supporting references that addresses this Assignment.
Your paper should be in APA format and cite all 3 references
used. Submit your paper to the Unit 2: Assignment Dropbox.
For assistance with APA format and citation style, visit the
KU Writing Resources located in the home area. See Rubric below for Assignment
details.
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