BOY'S PLACE

THE

COURSE PROJECT
MARKETING PROJECT GOAL: To meaningfully apply the TERMS, CONCEPTS, METHODS, TECHNIQUES, STRATEGIES and TACTICS covered in the text, handouts, case studies and related media toward the development of a STRATEGIC MARKETING PLAN for use by a fictitious or real organization. YOU will assume the role of a MARKETING MANAGER in this company or organization. The strategic plan will involve the marketing of a PRODUCT, SERVICE, PERSON or CONCEPT /ISSUE, DESTINATION or combination thereof. GENERAL RULES FOR TOPIC AND PROJECT DEVELOPMENT: 1) DO NOT SELECT AN EXISTING COMPANY OR ORGANIZATION THAT MARKETS A WELL KNOWN PRODUCT, SERVICE OR CONCEPT WITH A MARKETING PROGRAM IN PLACE. YOU CAN ELECT TO COMPETE WITH SUCH A COMPANY. 2) YOUR WORK SHOULD BE ORIGINAL AND NOT A RE-WORK OF A PREVIOUS PROJECT FROM A PREVIOUS CLASS. 3) DO NOT LOAD UP THE PAPER WITH DEFINITIONS. I WILL DETERMINE YOUR UNDERSTANDING OF THE CONCEPTS, TERMS, METHODS AND TECHNIQUES, STRATEGIES AND TACTICS BY HOW YOU USE THEM. 4) IN YOUR PAPER, TELL ME WHAT YOU WILL DO, NOT WHAT COULD BE DONE. 5) DO NOT USE YOUR EMPLOYER AS A PROJECT TOPIC.

PROJECT CONTENTS: Your project will contain TWELVE inter-related CATEGORIES and consist of 12-15 pages, typed or PC. Additional pages RE: Tables, charts, graphs, art work, scripts, etc. should be included as addenda.

USE THESE CATEGORY HEADINGS IN YOUR PAPER:

CATEGORY #1 CATEGORY #2 CATEGORY #3 CATEGORY #4 CATEGORY #5 CATEGORY #6 CATEGORY #7 CATEGORY #8 CATEGORY #9 CATEGORY #10 NEEDS ASSESSMENT & MARKET PLACE ANALYSIS. BUSINESS CONCEPT, SWOT ANALYSIS, MKT ANALYSIS. CONSUMER ANALYSIS & POSITIONING STRATEGIES. COMPETITOR ANALYSIS. ECONOMIC ANALYSIS. LEGAL ANALYSIS. MARKETING GOALS & ENABLING OBJECTIVES. PRODUCT STRATEGY. PRICING STRATEGY. PROMOTIONAL STRATEGY / APPEAL STRATEGIES.

CATEGORY #11 CATEGORY #12

DISTRIBUTION STRATEGY. CONCLUSION / LAUNCH / OBSERVATIONS.

CATEGORY #1 NEEDS ASSESSMENT & MARKET ANALYSIS:

In this section you will discuss your general examination of consumer needs and conditions, circumstances, events, the emergence or presence of fads, fasions, trends and corresponding conditions in the marketplace or specific markets that, in your view, represents opportunities to base a business concept on. Discuss empirical studies or formalized research efforts used to substantiate your decisions to act. The OPPORTUNITY SHOULD BE VIABLE / PLAUSIBLE.

CATEGORY #2 BUSINESS CONCEPT & SWOT ANALYSIS:

Based on a thorough NEEDS ASSESSMENT of the MARKETPLACE and of particular MARKETS, you formulate the basics of an organization and BUSINESS CONCEPT. In doing so, you conduct AND DISCUSS in your paper, factors contained in your SWOT ANALYSIS that are significant conditions that will influence your decision making in CATEGORIES 8, 9, 10, & 11. Cite factors and or conditions from your findings that can be leveraged and converted to a market advantage and SERVE AS A VIABLE BUSINESS OPPORTUNITY. You will also become aware of weaknesses that require augmentation and threats that require clarification in scope and substance and will influence your decision making and proceeding as a business venture. DESCRIBE your COMPANY / ORGANIZATION:

Company/Organization NAME. Does name reflect the nature of your business ? Is your company / organization NEW or ESTABLISHED (and how old). SCOPE: LOCAL, STATE, REGIONAL, NATIONAL, INTERNATIONAL. Geographical deployment. Where is /are your business(es) / facilities located ? NATURE of your company / organization: Manufacturer. Service organization. Reseller (Channel member wholesale -retail). What SIC / INDUSTRY is your company associated with ? What SIC / SERVICE INDUSTRY do you belong to ? Marketing a PRODUCT or SERVICE? Not-For-Profit organization ? Marketing a PERSON ? Marketing a PLACE / DESTINATION ? Marketing a CAUSE ? Marketing an EVENT ? Marketing an ORGANIZATION ? NOTE: Bear in mind that your company or organization will fall into any of four categories COMMERCIAL MARKET (manufacturer or service), TRADE INDUSTRY (wholesale / retail), GOVERNMENT (local, state, federal, foreign), or INSTITUTIONS (public or private business sector).

Is your company / organization in a STRATEGIC ALLIANCE with another company and organization and describe. What are the benefits attributable to this alliance?

What PLANNING APPROACH does your company/organization use and why: Financial Planning. Long Range Planning. Strategic Market Planning. Strategic Management Planning. Describe the MARKET DEMAND that could be associated with your company: Derived demand. Volatile demand. Joint demand. Inventory Adjustments. Describe any conditions of SYNERGY that your SBU (Strategic Business Unit) is involved with and the implications of same. Describe MAKE, BUY, LEASE decisions regarding system components and resources required Persons, Properties, Processes and the implications of same on the business. Tell me about the market you will be operating in. Could you characterize it as: STABLE, CHANGING or TURBULENT and what market factors have most significantly contributed to this, e.g. Technological changes, Statutory or self- regulatory implications, Competitor activity (entrants or changes in competitor strengths), Consumer shifts (life style changes), Industry cycles, etc. Consult handouts MKTG3 Market Entry Assessment & MKTG32 Environmental Issues Management. What CHARACTERISTICS or SPECIFICATIONS will you use to determine what constitutes your MARKET / SEGMENT ? Consult the CONSUMER VARIABLES INVENTORY handout MKTG1. GEOGRAPHIC factor. Specific CONSUMER CHARACTERISTICS. Specific USE characteristics. Combination of several characteristics. Lifestyle. How many consumers might you expect to be in this market segment ? FORECASTING handout MKTG1: Market potential (maximum number) . Market forecast (realistic number based on use factors). Sales forecast & share (your planned share of the business booked). What might the competitor share(s) be ? Given the presence of COMPETITION, what share of the market do you hope to achieve, based on the total market potential you have identified ?

CATEGORY #3 CONSUMER ANALYSIS:

Using the handout on "consumer variables" (MKTG1) , describe the target consumer(s) that you will market to and utilize material in the text to further characterize the consumer (a descriptive picture or profile). Describe consumer variables / characteristics that are important for identifying members of your segment that are common in all segment members and those

that you will use to locate these individuals in the marketplace and connect them to your offering. What is their VESTED INTEREST in your offerring? Examples: GEOGRAPHICAL VARIABLES (all your segment members live in certain areas). DEMOGRAPHICAL VARIABLES (based on age, income, occupation, gender, etc.) PSYCHOGRAPHICAL VARIABLES ( certain attitude toward your offerring). PHYSIOLOGICAL VARIABLES (based on drives / urges) COGNITIVE / AFFECTIVE VARIABLES (knowledge of offerring, use, etc.). SYNCHROGRAPHICAL VARIABLES (newness factor birth, purchase, use, etc.) SOCIAL INTERACTIVITY VARIABLES (social attitudes, needs). SHOPPER VARIABLES (attitude / behavior, early or late adoptors). OTHER KEY CHARACTERISTICS.

Describe the "self concept" (text descriptions) of your consumer(s). Describe your consumer PROBLEM SOLVING PROCESS: Routinized Response Behavior (brand loyal). Limited Problem Solving (exposed to new brand - different attributes). Extended Problem Solving (brand difficult to evaluate). Any CULTURAL factors to be considered ? Any CORE VALUES to be considered ? Any SUB-CULTURAL factors to be considered ? Any REFERENCE GROUP factors (Asch phenomenon) to be considered ? Any SOCIAL CLASS factors to be considered ? Any differences in how they MARKET their products & services ? Discuss any purchase INFLUENCES that might be present (rational and or emotional) with your consumer group such as COST, QUALITY, DELIVERY, RELIABILITY, SOCIAL STATUS, RECOGNITION, etc. Will you be experiencing a STRAIGHT REBUYING (recurring) purchase with your customers or a MODIFIED REBUYING ("switcher") behavior with your customers ? Tell me what your CUSTOMERS are really looking for in a product / service type similar to what you will be marketing. What MARKET RESEARCH methods will you utilize to identify consumer interest, needs, concerns, etc. ? Any FADS, FASHIONS, TRENDS or PARADIGMS to consider or take advantage of ?

CATEGORY #4 COMPETITOR ANALYSIS:

Describe your COMPETITOR(S):

How many COMPETITORS are present in your industry ? Are they as LARGE as your company, smaller ? Do they MARKET locally, state-wide, regionally, nationally, internationally ? Are they DEPLOYED like your company ?

Are they as strong financially as your company ? Do they have any characteristics that are better than your company ? What are their STRATEGIES FOR REACHING THEIR MARKET ? UNDIFFERENTIATED Marketing (One product, one mix). DIFFERENTIATED Marketing (several products, different mixes). CONCENTRATED MARKETING (Niche Marketing). MICRO Marketing (precise consumer access method - zip, etc.) How are your competitors POSITIONED or REPOSITIONED ? Is their FOCUS on: ATTRIBUTES. PRICE / QUALITY. APPLICATION. PRODUCT USER GROUP ( user category). PRODUCT CLASS (who uses product, e.g. upper - lower class ?) Combination (consult CONSUMER VARIABLES INVENTORY).

CATEGORY #5 ECONOMIC ANALYSIS:

What general ECONOMIC condition exists in the marketplace and your particular market that would influence purchasing of your product or service ? PROSPERITY. RECESSION. RECOVERY. INFLATION Will the purchase be with DISPOSABLE or DISCRETIONARY INCOME ?

CATEGORY #6 LEGAL ANALYSIS:

Describe any LEGAL CONSIDERATIONS that would apply to your product or service. This would include existing or pending legislation (statutory) or industry self-regulation, licensing, labeling, local and state codes, liabilities, patents, warranties, guarantees, embargos, quotas, import duties, etc. Anything that might cause difficulties in marketing your product, service, etc. that you will have to deal with and overcome.

CATEGORY #7 MARKETING GOALS & ENABLING OBJECTIVES:

List THREE (3) marketing GOALS that you wish to achieve in conjunction with the marketing of your PRODUCT, SERVICE or IDEA. These MUST BE measurable / quantifiable in order to determine success. Examples for a ONE YEAR period: Increase market share by 30%. Introduce a new line of products and gain 15% mkt. share first year. Increase donations from businesses by 25%. Expand Sales into five states and increase total revenue 20%. Improve profits by %.

__________________________________________________________________ NOTE: The STRATEGIES and TACTICS that you will cite in CATEGORIES: 8, 9, 10 & 11 will constitute the basis of your MARKETING PLAN and will be influenced by what you have detailed in CATEGORIES: 1-6 and what you hope to achieve as detailed in CATEGORY #7. Bear in mind that what you determine in CATEGORY #7 (OUTCOMES) will have definite lmplications on what you should be specifying in CATEGORIES 8-11 (ENABLING OBJECTIVES & ACTIONS TO BE TAKEN). Your MARKETING PLAN will be influenced by what you have cited in CATEGORIES 1-6 (GIVENS or CONDITIONS you must work with or plan to change). ___________________________________________________________

CATEGORY #8 PRODUCT STRATEGY:

CONSULT TEXT AND HANDOUT MKTG13 PRODUCT STRATEGIES.

Describe your PRODUCT, SERVICE , IDEA and provide attributes (characteristics). What Stage of the PRODUCT LIFE CYCLE ?: Introduction. Growth. Maturity. Decline. Extension. Will your position to COMPETE be based on: DIRECT COMPETITION (similar product or service) SUBSTITUTIONS (alternative means of meeting need) DISCRETIONARY (purchase priorities) What will your general PRODUCT STRATEGY be: Undifferentiated, Differentiated, Concentrated / Niche, Micro. Will your PRODUCT be: Convenience products / services: Staples. Impulse items. Emergency. Shopping products / services: Homogeneous (price based, ex. white goods). Heterogeneous (style based, ex. style based). Specialty products / services: Unique - customer will not accept substitutes. Business Products / services: Installations. Accessory Equipment. Component parts & materials. Raw materials. Supplies. Business services. DISCUSS any of the following issues if applicable: Product mix: Width / Length / Depth. Product line(s). Line extension. Cannibalization.

Product planning: Market penetration. Market development. Product development. Product diversification. Product identification: Branding & Marking. Individual & Family Brands. National brand / Private label.

CATEGORY #9 PRICING STRATEGY:

CONSULT TEXT and HANDOUT MKTG14 PRICING STRATEGIES. Determine what pricing considerations will be necessary to effectively sell your product, service or idea. Consider how the competition might be approaching pricing and basically how you might need to view pricing in relation to your product offerings in relation to consumer perceptions and competitor activities. Is PRICE a major consideration to consumers or are benefits more important? Are SUBSTITUTE products priced similarly to your offerring a threat? Will distribution costs impact your Pricing consideration? Should your PRICING STRATEGY be based on profit, cost, competition, consumer or channel expectations? Etc.

CATEGORY #10 PROMOTION STRATEGY:

CONSULT TEXT AND HANDOUT PROMO7 PROMOTIONAL STRATEGIES. CONSULT HANDOUR MKTG18 APPEAL STRATEGIES & TACTICS. What mix of PERSONAL SELLING, ADVERTISING, PUBLICITY, & SALES PROMOTION will you use to promote and market your product ? Using the promotion objectives described in the text and handouts, briefly discuss what information you will provide to customers that will create DEMAND. DEMAND TO INCLUDE: Primary or Selective Demand, Differentiated Demand, value/ benefit regarding ownership utility, and create sales stability. Using information contained in the text and handouts, briefly describe what form(s) of advertising would be most appropriate for promoting your particular product, service or idea. Consider your target audience, media strengths and weaknesses of your and what strategies the competition is using. DESCRIBE any SALES PROMOTION STRATEGIES that you will use & examples. DESCRIBE any PUBLIC RELATIONS & PUBLICITY efforts that you will use & examples. DESCRIBE how PERSONAL SELLING will be used in your marketing efforts. PROMOTIONAL CAMPAIGN:

DEVELOP A SAMPLE CAMPAIGN FOR YOUR PRODUCT(S) / SERVICE(S) including copy, clip art, cut & paste elements, etc. Describe the product(s) / service(s) features and benefits offered, pricing, positioning and other significant factors. I would like to see how you are positioning your offerings against your competition, traditional use, points of

differentiation, appeals used and related factors. With this information and depending on your MEDIA MIX: Produce a TV commercial script with a simple story board. Produce a radio spot with indication of station format. Produce a magazine ad with indication of which magazine(s). Produce a newspaper ad with indication of which papers. Produce a billboard or form of transit or facility promotion. Produce a direct response program. Produce a sales promotion program. Produce an electronic or interment promotion.

CATEGORY #11 DISTRIBUTION STRATEGY:

CONSULT TEXT AND HANDOUT MKTG27 DISTRIBUTION STRATEGIES. Discuss what distribution means you will use to achieve a successful flow of products and or services from the point of origin to the end user customer including: wholesalers, agents and brokers and the distribution intensity (intense, selective, exclusive). Will your products and or services be offered through RETAIL operations or business to business and if so what type. What form of physical distribution do you think would be most appropriate for your products (if applicable) and why ? If the scope of your business is global, tell me about how you plan to introduce the product in other countries and achieve a cost effective distribution system.

CATEGORY #12

CONCLUSION / LAUNCH / OBSERVATIONS:

Consider what you have submitted in categories 1-11and provide a general assessment of how you feel each category will impact other elements of your overall marketing plan. Do you see any problems that might impact your marketing efforts in the future consumer shifts, market shifts, competitor movements that your plan might have to take into consideration? Any other concerns or expectations that would need to be monitored?