MKT120 Principles of Marketing Assessment Final Project | Richmond Community College

MKT120 Assessment

Final Project: Marketing Plan

Objective

The goal of the project is to systematically analyze a business and its potential customers to develop a marketing plan based on concepts covered in this course. Your project will be based on the business profile that you have worked with this semester.

Instructions

• You are going to create PowerPoint to present your Marketing Plan, along with an accompanying written document discussing your marketing plan For the presentation, there is no specific time or page length requirement. Your grade will be based on how accurately and fully you address each topic.

  Your presentation should also meet formatting and mechanical standards:

• Include a cover slide with your name(s) and the name of your company.
• The formatting should have a polished and attractive appearance.
• Font types and font sizes are consistent throughout the presentation.
• Where appropriate, the presentation makes use of tables, charts, or other graphics.
• There are no material spelling, grammar, or punctuation errors.
• Include a slide using MLA to cite your sources.

This includes the textbook, class slides, or any other outside resource.

Content Areas

Your marketing plan will discuss the following topics:

1. Your company name, mission statement, and discussion of what your company does and why it exists (Chapter 2)

2. Product or Service description

a. Provide a description of your product or service in a way that will capture the attention of your audience

b. Discuss the want or need that will be satisfied for consumers Principles of Marketing 120 2024 Fall

c. Value Proposition – Discuss how your product or service will better fulfill the wants or needs of consumers better than existing products or services (LO 9-4: exhibit 9.8)

3. Macroenvironmental Factors (chapter 5)

a. Present two specific positive macroenvironmental factors from different categories

4. Segmentation, Targeting, and Positioning Analysis (chapter 9)

a. Present your ideal target customer using the five most relevant factors (Segmentation, Targeting, and Positioning)

b. Identify and discuss the two more important criteria of Segment Attractiveness Analysis (LO 9-2: Exhibit 9.5)

c. Propose a Targeting Strategy and explain why it is the best approach (LO 9-2: Exhibit 9.7)

5. The 4 Ps

a. Brand Equity for the Owner (LO 11-5)
i. Describe the four different types of Brand Equity
ii. Identify the two most important types of brand equity for your company and discuss why they are the most important

b. Place – The Importance of the Marketing Channel
i. Discuss how the marketing channel (1) adds value and (2) affects other aspects of management (LO 15-1)
ii. Each company faces a decision on Place, what is your recommendation
iii. Explain your rationale (Agriculture – direct to customers vs. partnering, Cleaner – distribution to retail or online, Spa – Location expansion) (starting point only – products: direct vs. indirect marketing channel, services: brand equity 11-5 and chapter 13 adding value 13.1 and adding value 13.2)

c. The Five Cs of Pricing: Company Objectives (exhibit 14.2)

i. Describe the four types of company objectives that affect pricing
ii. Identify and discuss your company objective in setting your pricing strategy

d. New Product Pricing Strategies i. Describe the two types of new product pricing strategies and whether you will pursue either (LO 14-7)

e. Promotion: The Appeal (LO 18-1: Step 4)
i. How do informational appeals work? What are the strengths? Weaknesses? ii. How do emotional appeals work? What are the strengths? Weaknesses?
iii. Which appeal type will you use?
iv. If informational, what information needs to be conveyed? Principles of Marketing 120 2024 Fall
v. If emotional, which specific type of emotional appeal (Exhibit 18.2)
vi. Create a sample advertising campaign consistent with either an informational or emotional appeal

Grading Weights

The group project grade will be calculated using the following weights:

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