Assignment ContentPurpose of AssignmentThe purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address.Assignment StepsNote: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper.Resources: Marketing Plan and OutlineProducing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This will be added to the Target Market section of your Marketing Plan.Include the following:Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement).Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:Required executive summary elements:Strategic Objectives Products or Services Optional executive summary elements:Resources Needed Projected OutcomesIntegrate the previous weeks’ sections, and incorporate corrections and suggestions from the instructor’s weekly feedback. The marketing plan should be a minimum of 3,850 words and include the following:
Incorporate Understanding Target Markets (Week 2)Incorporate Promotion and the Product Life Cycle (Week 3)Incorporate Price and Channel Strategy (Week 4)Incorporate Marketing Communication and Brand Strategy (Week 5)Incorporate Executive Summary, Legal, Social and Ethical Considerations (Week 6)Cite a minimum of three peer-reviewed references. Include all peer-reviewed references from the previous weeks’ individual assignments in your marketing plan.Format your assignment consistent with APA guidelines.Submit your assignment.I am attaching my previous papers and I unfortunately did not pick the same company throughout which I guess I needed to, if you could take the comments from the professor and fix prior papers as well that will be great.
david_brigandi_week_1_assignment_part_2_mkt_571.docx
david_brigandi_week_2_assignment_mkt_571.docx
david_brigandi_week_3_assignment_mkt_571__2_.doc
week_4_assignment___mkt_571___david_brigandi__1_.docx
david_brigandi_week_1_assignment_mkt_571.docx
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Running Head: PART 2
1
PART 2
David Brigandi
University of Phoenix
Professor Guilbault
MKT/571
February 18, 2019
PART 2
2
Title
For the basis of the assignment, I would like to use the Coca Cola company. Coca-cola is
one of the leading organizations that produces beverages and other nonalcoholic drinks in
different countries across the globe. It has managed to maintain its brand image since 1886 when
it was founded. The coca cola headquarter are located in Atlanta in Georgia. It has managed to
maintain high sales revenue over the years. In the article, I will focus on the coca cola
carbohydrate alternative which has been dubbed as the C2. The drink was developed in a move
to come up with healthy drinks. The company as at 2017 had an average of 61800 employees
which is a very high number. The C2 drink was introduced in 2004 by the organization after
consumers had some criticism over the health effects of soft drinks. The drink has been to act as
an alternative for the classic coke. However, the sales of the product have not been satisfactory
since consumers do not buy it as it was planned. The future of the drink is uncertain considering
the market.
Running head: MARKETING RESEARCH
Marketing Research
David Brigandi
University of Phoenix
02/25/2019
1
MARKETING RESEARCH
2
Overview and Introduction
Bite Donut is a medium-sized company that is owned by a family, and it is a new
company that was registered and incorporated in 2017. The company sells Donuts and pastries
all over the country. The headquarters and the main branch are located in Bronx New York. It
has three different stores within the Bronx and has a total number of 30 employees working in all
the branches. The company’s objectives include penetrating new areas, increasing sales and
giving back to the community (Sekaran & Bougie, 2016). It has been making progress in the
three branches through building customer relationships and providing excellent service.
Environmental Scanning
Many factors in the region will affect the business and its goals. The factors include
competitive, economic, political, legal and regulatory, technological and sociocultural forces.
Competitive Forces
The Bronx is flooded with stores and small restaurants that make donuts and some
pastries on demand. The major competitors in the region are the famous Dunkin Donuts and
Tasty Bites who have the share of the market in the area. The small competitors are also a threat
to success because they make the donuts on demand and they have their clients who order from
them directly.
Economic Forces
Bite Donut is in an area that has very few people who are financially stable. Most people
in the region are people working in odd jobs. They spend less on things they don’t need or
consider essential like donuts and pastries. Their economic status keeps them from making
purchases that would make a difference to the business (Bowman, 2009). Most people in the area
MARKETING RESEARCH
3
are unemployed and most of the inhabitants of the places where the branches of the company
stand are students.
Political Factors
The region is underdeveloped and the political forces have been the reason for that over
the years. Policies by the government have delayed settlements in the region, and many people
are still skeptical about moving into the area. Businesses cannot pick in the region for some time
until some good housing policies get passed by the government.
Legal and Regulatory Forces
There is a legal battle that is court between Bite Donut and one resident over the piece of
land the company has built a store. The property is disputed, and operations in that place cannot
go on as they should until the case gets settled. The regulating authorities in the area are also
strict and delayed compliance with their policies like health certificates often leads to closing
down of businesses.
Technological Forces
Technology is changing and the company might get lucky, some applications are
available which it can use to market and sell its products. It can help know the location of
customers which makes deliveries easier.
Sociocultural Forces
People living in the region live together, and they have a bond. When they like products
of one company the whole family, and even friends are moved to try and use the products.
Current Opportunities
Many students are on Facebook, and it is easy for the company to market the products
through Facebook. Advertising and promoting products through Facebook has more response
MARKETING RESEARCH
4
and is easy to convert them to sales. Additionally, the company can make use of influencers in
the institutions around which will be able to boost its sales and penetration among college
students (Sekaran & Bougie, 2016). Additionally, there is a new mall that has been opened in the
area, and the company can get space and open a branch within the mall and get more clients.
Threats
The greatest threat for the business is competition from the two strong brands that are the
leading in the region, Dunkin Donuts and Tasty Bites (Zhang, Chien, & Ma, 2015). They have
more products that complement their donuts which draw most customers in the area to them and
their outlets.
Target Market
Overview of the Demographics
Target Market 1
Businesses that are within proximity, small shops and small restaurants that would want
to cut their costs of making donuts. Businesses which have a steady flow of customers and are
established in the region.
Target Market 2
Teenagers and adults of between 30 and 45 years. Teenagers who are still in school and
living with parents. Adults who are working and married or living with other family members.
The buyers targeted are those who will be buying the donuts and pastries regularly.
Analysis of the Demographics and Psychographics
Adults of between 30 and 45 years are more likely going to be working, and they have
the purchasing power, they will afford the donuts. Teenagers who are in school will be coming
from families that can afford to buy donuts regularly (Bowman, 2009). They will be influenced
MARKETING RESEARCH
by friends to buy or like donuts. Additionally, the adults who are fond of donuts and can buy
them frequently will be the key to getting more recommendations. They will often be spending
on such products because of their families (Zhang, Chien, & Ma, 2015). Teenagers will be
spending on the products because of the value they will be getting.
5
MARKETING RESEARCH
6
References
Bowman, J. (2009). Don’t Take the Last Donut: New Rules of Business Etiquette. Red
Wheel/Weiser.
Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill building approach.
John Wiley & Sons.
Zhang, K., Chien, N., & Ma, A. (2015). BUSINESS 478 Section D100.
Grading Guide
Content
Met
Student creates the research section of
his/her marketing plan and includes at
least 3 elements of the research list of
topics provided here:
•
Research List of Topics
o Primary Research
o Secondary Research
o Consumer Analysis
o Customer Profile
o Continuous Consumer
Monitoring & Research
o Environmental Scanning
o Identify Market, Economic,
Technological, Regulatory,
Legal, Social, and Ecological
Forces
o Current Opportunities
o Potential Future Opportunities
o Current Threats
o Potential Future Threat
Any diagram(s) provided (not required)
are in APA format and includes
discussion providing insight and clarity.
X
Partially
Met
Not
Met
Comments:
MARKETING RESEARCH
Content
7
Met
Partially
Met
Not
Met
Comments:
Student develops the first two parts of the
Target Market section, which includes an
overview of the demographics (age,
income, family members) and
psychographics (activities, interests, and
opinions) analysis if B2C or similar
organizational characteristics if B2B.
Student explains the insights he/she has
gained from his/her inspection and
analysis of the demographic and
psychographic information he/she has
found.
The Research section is a minimum of
700 words in length.
X
X
Cited a minimum of three peer-reviewed
references.
Writing Guidelines
x
Met
The paper—including tables and graphs,
headings, title page, and reference page—
is consistent with APA formatting
guidelines and meets course-level
requirements.
Intellectual property is recognized with
in-text citations and a reference page.
Total
Available
Total
Earned
35
33.5/35
Partially
Met
Not
Met
X
X
Comments:
MARKETING RESEARCH
Content
8
Met
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
X
Sentences are complete, clear, and
concise.
X
Rules of grammar and usage are followed
including spelling and punctuation.
X
Assignment Total
Additional comments:
#
Partially
Met
Not
Met
Total
Available
Total
Earned
15
14/15
50
47.5/50
Comments:
Running Head: MARKETING STRATEGY
Marketing Strategy
David Brigandi
MKT/571
University of Phoenix
03/04/2019
1
MARKETING STRATEGY
2
Determinants of Strategic Options.
The strategic options and choices to be made will depend on a number of issues; the
management perception of risk will play a great role in the choice made. If the management
considers the risk to be enormous, the project can be postponed but since the management is
made up of risk takers, the project should be undertaken but great care should be taken into
consideration. The mission of the firm will also contribute to the decision made. Since the
mission of the company is to venture into diverse territories, the project should be undertaken so
as to take the advantage associated with diversification. The nature of the milk will be a
determinant of choice to be made; milk powder can be favorable since it does not get spoilt
easily.
Marketing budget
A marketing budget gives an estimate of projected costs that will be incurred in
marketing the product. A marketing plan will consider marketing costs such as; communication
costs, marketing department salaries and office space cost. A large portion of the budget will
however focus on communication in the marketing and this are the website and public relation
costs. Costs will be allocated depending on the campaign media that will be used.
A typical examination of marketing expenses will include advertising agency
commissions such as salaries for market assistants and their managers, office space, office
equipment, travel costs and other direct and indirect costs. Another category of cost is the
marketing communication cost which will include, personal selling, public relations, printing,
website hosting and development and brochure design.
Marketing budgets will ensure that a campaign or marketing plan is allocated costs
realistically. Pre-budget research on competitor and industry will help the budget to be
MARKETING STRATEGY
3
comprised of informed calculations. An accountant will be of help in establishing realistic and
complete figures
Marketing strategy
Ansoff growth matrix is an important tool that can be used to decide the market growth
strategy. The growth strategy for the business focuses on selling a product that already exists and
in an existing market is called market penetration. Market penetration seeks to achieve different
objectives, they include; achieving of dominance of markets that are growing. Market
penetration strategy also aims at increasing the share of the market products currently. It also
aims at restructuring a market that is mature by driving out competitors; this will demand an
aggressive marketing strategy that will be supported by the price strategy. Market penetration
strategy also has an aim to increase usage by the existing customers.
In our case, we will use the market penetration strategy to sell the company products in
our local product and we can enhance this by lowering our prices and indulging in aggressive
marketing campaigns that will increase our customer base by attracting our competitor’s
customers and also attracting new users of the product
Market development is another strategy that can be used if the business wants to sell
existing products into a new market. There are different ways of approaching market
development strategies, they include; introducing new distribution strategies, new packaging of
products, venturing into new markets and coming up with different pricing policies.
In our situation, the company should get new distribution channels and repackage the
milk products so as to be able to venture in new markets that were previously not explored, by
MARKETING STRATEGY
4
successfully get involved in the new market, the customer base will increase broadening the
market share and the profitability of the company (Shirpley 2008).
Another strategy that exists is the product development strategy which is a growth
strategy that aims at the introduction of new products in an existing market. The strategy requires
the development of competencies that are new and the business should develop products that are
modified and are appealing to the existing market.
Another strategy is the diversification strategy which is also growth-oriented whereby a
business markets a product that is new to a new market. It is a risky strategy since the business is
getting involved with markets that it has minimal or no prior experience. For the strategy to be
adopted, the company has to have a clear idea of the expectations risk assessment has to be made
honestly. In our company’s situation, we have to analyze the market forces that will affect our
business.
The most common strategy for growth is the company focusing on what it does best, this
is known as the concentrated growth strategy. The company will grow by doing what it is
already doing by increasing the present customer’s rate of use and this is made possible by
increasing purchase size, the company advertising on new product uses, offering incentives for
increased use and maximizing on the obsolescence rate of the product (Argryis 2010).
The company can also attract the competitor’s customers by luring them by establishing
differentiation and also investing on adverting about the benefits of the product and cutting on
prices. The company can also attract non-users of the product and this will increase the customer
base and this is done by adjusting prices downwards.
The company should consider the reactions of its competitors and the company should
consider investing more on special offers and quantity discount this is because for every action
MARKETING STRATEGY
5
there is a reaction and the competitors will definitely react to the company’s new ventured
strategy.
A written market strategy will have the following benefits; they will be of help in
polishing and formulating the export or import strategy. The written strategy will ensure that
there are no deviations in the initial plan and all policies are formulated. The written strategy will
also act as a communication medium and it will not be easily misunderstood. The written plan
will help in the delegation of duties and no overlap in duties. The strategy that is written will be
helpful when financial assistance is needed and it will act as an indicator of the expected to the
financial lenders (Cameron 2012).
Promotion
There are several tools of promotion that can be used in international promotion; adverts
can be made on billboard and on local media, price promotion can be done for prices will be
temporally low in the initial stages of the product lifecycle and also point of purchase can be
used whereby the company will pay retailers for displaying more in their stores. The objective of
promotion will be to create awareness to potential customers, encourage trial by users which will
lead to repeat purchases if they like the product and it will also help customers to have a positive
perception of the milk products.
Pricing
Penetration pricing strategy involves setting competitive prices so as to achieve an
enormous if not a totally dominant market share. This is possible if demand is slightly elastic and
this means that it is price sensitive and this will make buyers to be attracted. If the penetration is
MARKETING STRATEGY
6
successful, there will be large output value and this will lead to a low cost per unit. The pricing
will also promote complementary products and this will make the main product to be priced with
low prices. Before a pricing strategy is implemented, the company has to be sure that the
distribution and capabilities can meet anticipated demand increase (Berg 2008).
Implementation
In planning, there should be some form of control. Control in marketing is the process of
implementing and monitoring proposed plans as they proceed with Control will in most times
involve measurement, monitoring and evaluation. As a result of the scarce and costly resources,
marketing controls are important. Control will involve setting standards and the manager will
thereafter compare the actual against the set standards.
An audit of marketing is important for the marketing planning process. The audit is done
at the beginning of the process and as the implementation of the plan is done. The audit will
consider internal and external factors affecting the marketing plan and reviewing the plan
involved.
The secret to a high impact marketing plan is optimizing on the limited budget. A
company should use a low set budget to pass the message to current and potential customers and
this will help sales revenue to grow. Impact of marketing will best be felt if there is the use of
multiple marketing channels.
MARKETING STRATEGY
7
References [Please check the Reference and Citation Examples document in the Tutorials
& Guides section of the Center for Writing Excellence for examples of correct formatting.
Then carefully check your citations and references to be sure that they are formatted
correctly.]
Argyris, C. (2010) Inner contradictions of rigorous research. New York: Academic Press
Berg, B. (2008) Qualitative research methods for the social sciences. Hemel Hempstead,
England: Allyn & Bacon Press
Cameron, D (2012) Researching language: issues of power and method. London:
Routledge.
Shipley, D. (2008) Successful Countertrading. Management Decision, Vol. 26, No. 1 49-52.
Grading Guide
Content
Met
Partially
Met
Not
Met
Student’s product strategy addresses at least
three areas of the product life cycle (NPI-new
product introduction, growth, maturity and
decline).
X
Student’s product strategy addresses how
he/she will measure (what metrics will be
used to determine success or failure) the
marketing activities.
X
Student’s product strategy includes the
creation of at least two different types of
media methods for the products. One media
method must be a print method and one
x
Comments:
MARKETING STRATEGY
Content
8
Met
Partially
Met
Not
Met
Comments:
must be non-print. A media method is a
media strategy which highlights his/her
product. Student has 2-3 sentences about
each media method (i.e. one paragraph of
what he/she would do, not how to do it).
Student does not use the Facebook example
provided..
Student’s product strategy addresses three
elements of the Product and Promotion List
provided in the assignment.
•
Product and Promotion:
o Integrated Marketing
Communication
o Advertising Strategy/Objectives
o Push and Pull
o Media Strategy
o Advertising Execution
o Direct Marketing
o Public Relations/Strategies
o Positioning
The product strategy is a minimum of 700
words in length. Note: Charts/graphs/tables
do not count toward the word count.
X
X
Cited a minimum of three peer-reviewed
references.
x
Total
Available
35
Total
Earned
17.5/35
David, this is not aligned with
the assignment
requirements.
MARKETING STRATEGY
Writing Guidelines
9
Met
Partially
Met
The paper—including tables and graphs,
headings, title page, and reference page—is
consistent with APA formatting guidelines
and meets course-level requirements.
Intellectual property is re …
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