Trident MKT501 Module 2 Case & SLP Latest 2019 October

MKT501 Strategic Marketing

Module 2 Case

PROMOTION
MANAGEMENT & SWOT ANALYSIS

Assignment
Overview

The
Marketing Plan: GAP Analysis

Every
business should determine its own standards for success when evaluating the
attractiveness of a market, since every industry has its unique circumstances.
Criteria that influence Segment Attractiveness include:

Market
Growth (Market Size, Growth Rate, Market Potential)

Competitive
Intensity (Number of Companies, Ease of Entry, Substitutes)

Market
Access (Customer Familiarity, Channel Access, Company Fit)

While
benchmarking based on criteria is beneficial in capturing the qualitative
aspects of a market situation, the profit potential must also be assessed for
all segments deemed attractive based on their market attractiveness indexes.

Segmentation
Application

Provide a
brief description of your chosen product/service. (This should be used
throughout the class.)

Analyze
customer needs for the target product

Discuss
Segmentation Strategies based on two real competitors’ market position

Devise a
niche marketing strategy that would be appropriate for your company’s product.

Gap
Analysis, Benchmarking & Competitive Advantage

Implement a
Gap Analysis of Two Competitors. Discuss how the findings would be used.

Develop Competitor
and Competitive Benchmarking.

Competitor
benchmarking involves identifying a business’s main competitors and then
comparing itself against them in key performance areas. Competitive
benchmarking involves going outside a business’s market or industry to study a
company that excels in an area where the business is deficient.

Devise
Strategies to Achieve Competitive Advantage for the Company

This is the
main part of the assignment and requires extensive critical thinking. Do not
rely on summarizing information; instead explain based on the definition of
each virtue and vice how they apply to your chosen leader. Use your library
articles to provide support for the analysis. Use the template and divide your
paper into clear sections with headings based on each of the virtues and vices
you are discussing.

Using
articles primarily from Trident Online Library’s full-text databases (like
Academic Search Complete, Business Source Complete, and/or ProQuest Central),
research the chosen topic and create a well-balanced 4- to 5-page submission
that demonstrates evidence of critical thinking. Remember that this means your
paper should not be just a summary of the articles and book chapters that you
read, but rather an in-depth analysis that is supported by quality, professional,
and graduate-level research.

Do not use
any quotations. Since you are engaging in research, be sure to cite and
reference the sources in APA format. The paper should be written in third
person; this means words like “I”, “we”, and “you” are not appropriate. For
more information see Differences Between First and Third Person.

Use the
attached APA-formatted template (MKT501 Case2) to create your submission.

Assignment
Expectations

Your submission
will include:

Trident
University International’s cover page

A 4- to
5-page paper with APA citations (2- to 3-sentence introduction, body and 2- to
3-sentence conclusion)

The
reference list page in APA format

MKT501 Strategic Marketing

Module 2 SLP

PROMOTION
MANAGEMENT & SWOT ANALYSIS

Successful
Messaging

It is
important to understand what you are selling before you can craft messages to
target specific markets. The marketing “P” for product defines the
features and benefits of the product that explains why a customer should buy
your product. Product (or service) strategy is a guiding step in the overall
marketing plan.

Your
product line presentation to senior management will take place via video
conferencing. You will need to prepare a PowerPoint presentation and an
accompanying script in Word for the meeting.

Launching
your Product

Your
PowerPoint presentation and accompanying script will include the following:

Company
Competition—Develop a SWOT analysis to graphically depict your company’s current
competition. Explain the SWOT in words.

Segmentation—Consider
who is interested in your product. Identify the type of customer groups
interested in the product and why.

Targeting
Customers—Based on the product offering and customer segments, describe what
customers segments you will serve and why.

Product
Positioning—Determine your positioning strategy for the product. What image do
you want to project to your customers and prospects? How will you appeal to
your selected customer segments?

Use the 4Ps
of marketing to help with this. For example, will we differentiate the price
based on quality and value? Where will we distribute the product? For example,
is your product distinctive, unique, or the best quality for the price? Write
your positioning statement for the product.

Customer
Lifetime Value—How will you build customer lifetime value for the company based
on your product marketing strategies?

SLP
Assignment Expectations

Please
submit your assignment.

Two files
will need to be uploaded.

SCRIPT: A
Word document using the attached template (MKT501 SLP2 Script). The Body of the
Word Script must be at least 1000 words. Be sure to cite and reference your
resources in the Word Script.

POWERPOINT
Presentation of at least 15 slides in length