My Main Company Idea is:
Bid'ah Company Limited is one of the leading dealers in electronics in Asia. The company has also ventured into Europe and has a few subsidiaries on the continent. The company hopes to achieve a global presence within the next decade.
Assignment 2 - Marketing Plan - Marketing Research Proposal, Positioning Strategy, and Product Strategy (worth 100 points)
MARKETING RESEARCH PROPOSAL
1. Describe what new information would be valuable to the company and suggest to the company how they might collect the data and how much it will cost. Prepare an introduction to the survey and include the actual sample survey (copy and paste questions from Qualtrics, SurveyMonkey, Google or direct type into paper). You will want 10 total questions, mixed with multiple choice and yes/no types of questions, and add an incentive to complete the survey. I want to see your question AND your answer choices.
POSITIONING STRATEGY
1. STRATEGY: Usually, small businesses target the large, general market. Define for them two smaller segments that they could target to make better use of their limited resources. Define these two segments "target audiences/customers" clearly, even giving them names see plan sample examples. Each segment description needs to include: demographics describing the characteristics of the typical consumer in each segment; psychographics describing the habits, attitudes, and preferences of these consumers; and other descriptors, such as geographics, benefits sought or usage rates, to finish explaining who these consumers are, what they are looking for, and where they get information about products. Include information about WHERE they get marketing information, like which magazines they read, which TV shows they watch, etc. You are describing a "Persona" that you can detail and describe easily without even describing your product or service.
2. Now, how will you "position" your product or business in the consumer's mind? As high quality with prestige prices? As the healthy company with organic ingredients? As the company that specifically caters to preteens?
3. MAP: Create a positioning map (perceptual map) for this industry. The book is weak on this, but you can Google either term and find lots of examples or see examples I have posted. Remember, this is about how the consumers "perceive" products, not necessarily how they really are. Create a matrix using two variables, such as Low/High Saltiness on one axis, and Low/High Crispness on the other. (Do not use Price as one of your variables ... too obvious.). The "High/Many" will be on the "North" and "East" sides of map, and the "Low/Few" will be the opposite sides of the axis. The North and South axis will be opposites and the East & West axis will be opposites as it relates to the variables used.
4. Now that you have a map, indicate where you believe your competitors' products are positioned and where your own is. *you can use whatever coding by color, abbreviations, or even logos. Also show where you think your two chosen "target audience/customer" segments are on the map in relation to your variables you are measuring. Discuss what you can do to move your brand closer to those segments. ("We will create a new package for our popcorn that will attract children and we will promote the idea that popcorn is hip and makes kids happy ...")
PRODUCT STRATEGY (The first of the Four Ps)
1. Describe three unique elements of this product (quality, packaging, warranties, place in your existing product line, etc.)
2. At what stage of the Product Life Cycle is the industry that this company competes in, and what are the issues associated with doing business at that stage? (remember, PLC is about the INDUSTRY, not your company or brand!)
3. What could the company do to accelerate the adoption process so consumers won't wait to buy? Any ideas for future ways to extend the life cycle of this product?
Use the link in the ASSIGNMENTS icon to submit your Word or PDF file as an attachment.
Rubric
Marketing Plan Assignment #2
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Marketing Plan Assignment #2
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Criteria
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Ratings
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Marketing Reseach Proposal
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Full Marks
30 pts
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No Marks
0 pts
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Positioning Strategy
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Full Marks
30 pts
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No Marks
0 pts
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Product Strategy
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Full Marks
30 pts
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No Marks
0 pts
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Writing style, grammar, clarity of expression
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Full Marks
10 pts
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No Marks
0 pts
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Total Points: 100
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Attachment:- sample.zip