Assignment 2: Part B: Your Marketing Plan
Using the same hypothetical company (Blend Company) from Assignment 1, for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.
Note: You should create and/or make all necessary assumptions needed for the completion of this assignment.
Create the second part of your marketing plan:
- Describe or list the feedback you received on Part A of your marketing plan. Explain how you will use the feedback to improve your plan. This is the feedback for Assignment 1: Great job on your paper thus far. You have definitely showed competency in the requirements of the task and the marketing concepts and strategies covered this week. No recommendations needed at this time.
- Develop a branding strategy for your product / service that covers the brand name, logo, slogan, and at least one brand extension.
- Thoroughly analyze the primary and secondary markets that you want to target. Thoroughly include the demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile, professional profile, geographic profile, and any other segmentation variable you deem necessary.
- Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position.
- Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.
Use at least three academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service.
Your assignment must follow these formatting requirements:
Be typed, double- spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.