02 May QuestionBrand Extension Marketing Plan
Question
Brand Extension Marketing Plan
Introduction: The major project in this course is to complete a Brand Extension Marketing Plan for one new product on the behalf of an existing for-profit organization.
Using the Marketing Plan Template/Outline found in Doc Sharing, complete and submit the following components of your Marketing Plan.
TIP
The guide you should use for all Marketing Plan assignments is in Doc Sharing.
The Kotler & Keller text, is extremely helpful to you when completing your ongoing weekly assignments.
During each unit of our class, a new component of the Marketing Plan will be due.
Unit 3 Marketing Plan: Connecting with the Customer
3.0 MARKETING STRATEGY
3.1 Mission (review “mission” in Chapter 2)
Establish the fundamental goals for the quality of your business/product offering and customer satisfaction.
Define your business/product offering.
What are your fundamental goals? (Fundamental goals are those that you would like to achieve with your new product, either as an individual product or as part of the overall company mission. These are directional goals that provide the overall strategic direction for management planning.)
State the value proposition. Be sure to look up this term in your Kotler text if you don’t fully understand it.
3.2 Marketing Objectives
Include a sentence or two about each of the following:
What are your specific marketing objectives?
Market share: what is your growth objective by quarter?
Market penetration: how do you plan to gain a share in this market?
Awareness: how do you plan to gain awareness for your product?
Customer acquisition: how do you plan to grow your customer base?
Identify a specific, measurable market share and size.
Remember that your objectives need to be quantifiable. In other words, objectives need to have a base point, end point, and time frame so you can research to see if you have reached your benchmarks or if your plan needs adjustment.
3.3 Financial Objectives: Skip this section for now. You will do this later.
3.4 Target Markets (refer again to Chapter 8 of your Kotler text to make sure you fully understand what is meant by target market segments)
Identify the specific target market segments you have defined. What are the market niches you hope to capture? Describe.
Include the rationale behind why these are the optimal target marketing segments. Be specific.
Submit your response to the above questions into the Unit 3 Assignment Dropbox.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.