Strategy portion of your Marketing Plan

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In this task you will complete the Strategy portion of your Marketing Plan for the company you already chose in the first two modules .

The Strategy Should include:

Segmentation
Targeting
Positioning
Goals

Complete a thorough analysis for your company.

To complete this task successfully first work through all learning resource activities:

Hints:

Segmentation

How will you appeal to customers?

“When we segment based on attitudes, we’re looking for a benefit that meets three criteria: 1) our product actually delivers the benefit better than the competition; 2) customers perceive that our product delivers better; and 3) the benefit is rated highest in importance based on our customer analysis. If you find a benefit that meets these criteria, you select that as your segmentation variable.” ~Drew Boyd

Part 1: Demographics- Gather and analyze demographic data about the product or service you have chosen.

Part 2: Geographic- Gather and analyze geographic data about the product or service you have chosen.

Part 3: Behavioral- Gather and analyze behavioral data about the product or service you have chosen.

Part 4: Psychographic- Gather and analyze psychographic data about the product or service you have chosen.

Part 5: Draft your market segmentation strategy section for the final project’s marketing plan.

Targeting

“Start with benefit selected during segmentation. Then test against the demographic and geographic data.” ~Drew Boyd

Part 1: Gather and analyze data to find an opportunity by segment.

Part 2: Draft your targeting strategy section for the final project’s marketing plan.

Positioning

Draft your positioning strategy section for the final project’s marketing plan.

Goals

Marketing is all about goals.

Without them, you have no way of knowing whether or not your work is worthwhile.

Think of it like planning a trip. In order to know when you’ve arrived, you need to select a destination first. Otherwise, you would be traveling aimlessly.

There’s another word for that: getting lost.

If your boss asked about where your company’s marketing was headed, you wouldn’t want to say, “We don’t know,” right? Of course not. You’d want to show you have a clear plan, one that’s held accountable to hard numbers.

Last Updated on July 21, 2019 by EssayPro