MARKETING 716

Marketing Portfolio Part 2 Assignment

Instructions:

This is the second part of the portfolio project that you will complete over the course of the semester. By the time you have finished, you will have essentially written a Marketing Plan for a consumer brand in Canada of Hudson Bay Company.

You will be doing this in same group that you did with Assignment #1. You can also do this on your own, or if you did this on your own for Assignment #1, can join other students. However, each group can only have maximum 3 students in it. If you want to change or merge groups, please email me so I am aware.

Using the same consumer product that you have chosen from assignment 1, you will need to identify your target market and consider where you think your product is on a product life cycle. Your group will also need to conduct a competitive pricing analysis, determine your promotional objective, and outline a promotional plan.

This report should be a written summary of 5-7 pages answering the following questions:

1. Choose a single target market to focus your marketing plan on. Develop a detailed Target Market Profile. Your Target Profile can be submitted as a “Day in the Life”, a Collage, or any other format you deem appropriate that helps answer the question “Who is the primary market to purchase my product?” (ie: who is Most Likely to buy the most from me?) Your profile should include a summary of the customer’s needs and wants and a description based on variables such as demographics, psychographics, lifestyle etc. Be sure to quantify this target market. (10 marks)

2. Develop a market Positioning Map using 2 dimensions that you think are important to your target market and including at least 3 other competitors who sell within this product category. Create a Positioning Statement and a Tagline for your product. (10 marks)

3. Draw a Product Life Cycle and identify the stage that you think your product is at on it. Explain why you think that your product is at this stage. What marketing strategies should be considered next and why? (10 marks)

4. Identify and critique your product’s current Pricing (i.e. do you think that the current pricing is appropriate? Why or why not?). Make a recommendation as to what type of pricing objective, strategy, and tactics your product should be taking. Explain your recommendation. (10 marks)

5. Given your identified target market, the product life cycle, and the competitive landscape shown in your positioning map, identify a minimum of 3 IMC tools in the Promotional Mix (e.g. Personal Selling, PR, Sales Promotion, Direct Response, Word of Mouth, Advertising – broadcast, print, etc.) you think would meet your Promotional objective. Explain and provide rationale. (10 marks)

6. Given your identified position in the product life cycle, outline what you think the Advertising should be to promote your product. Explain the type and advertising objectives. What is the key message you are trying to share with your target audience? Specifically, what media form do you recommend for each? (10 marks)

7. Subscribe to trial account at and complete an original 20-30 second Advertising Video for your product. Include a link. (5 marks)

8. Overall professionalism (cover page with title, date, names, course code and section, instructor’s name, section title headings, spelling, etc.)(5marks)

Format:

· A type written 5-7 page e copy submitted via e-centennial dropbox: See format example below.

· The 5-7 pages includes a title page that includes the assignment title, date, name of this class and section, the instructor’s name, and names and student numbers of all group members, bibliography with citations. No less than 11 point font and spaced 1.5.

· Your paper will be reviewed for correct spelling and grammar. Use APA format for all sources. Remember to source through your document, not just at the end. Submit via e-centennial

· Plagiarism: Is a serious offence at Centennial College! You paper will go through Turn-it in to review plagiarised content and I will be reviewing other sites where papers have been posted. You do not want to get 0 marks for plagiarising!

Due Date: Wednesday, April 6th

· Submit to e-cenntenial assignment dropbox under Assignment #2

· Late submissions will not be eligible for grading.

MOST IMPORTANT:

READ AND FOLLOW THE RUBRIC AND TEMPLATE BELOW!

Assignment Rubric:

Target Market Profile	0-4 Is missing all or parts of profile, collage.	5-6 Includes a profile with needs and identifies specified. Includes a collage or ‘day in a life’ of target customer	7-8 Includes a profile with needs and identifies specified. Includes a creative collage or ‘day in a life’ of target customer	9-10 Includes a well-constructed profile with needs and identifies specified. Includes a very creative collage or ‘day in a life’ of target customer
Positioning Map and tagline	0-4 Is missing all or parts of positioning map, competitors, statement and tagline	5-6 Somewhat includes a positioning map with two relevant variables, and three competitors. Includes a positioning statement based on template. Includes a memorable and relevant tag line	7-8 Somewhat includes a positioning map with two relevant variables, and three competitors. Includes a well-constructed positioning statement based on template. Includes a memorable and relevant tag line	9-10 Clearly includes a positioning map with two relevant variables, and three competitors. Includes a well-constructed positioning statement based on template. Includes a memorable and relevant tag line
Product life cycle and marketing strategies	0-4 Is missing all or parts of plc, rationale and appropriate market objectives and strategies	5-6 Includes a complete Plc clearly identifying where current product is and supports with researched rationale. Somewhat identifies marketing objectives and strategies that support position	7-8 Includes a complete Plc clearly identifying where current product is and somewhat supports with rationale. Clearly identifies marketing objectives and strategies that support position	9-10 Includes a complete Plc clearly identifying where current product is and supports with researched rationale. Clearly identifies marketing objectives and strategies that support position
Pricing analysis and strategy	0-4 Is missing elements of pricing strategy and rationale	5-6 Somewhat identifies pricing objectives, strategy, tactics recommendation without rationale	7-8 Somewhat identifies pricing objective, strategy and tactics recommendation with supporting rationale and has provided critique of current product pricing	9-10 Clearly identifies pricing objectives, strategy and tactics recommendation with supporting rationale and has provided critique of current product pricing
Identification and rationale of promotional mix	0-4 Missing some/all promotional tools	5-6 Has identified some promotional tools without some rationale	7-8 Clearly identified 3 promotional tools and somewhat supported with rationale	9-10 Cleary identified min 3 promotional mix tools and supported with rational
Development of advertising objectives and strategies	0-4 Developed less than 2-3 objectives and not well supported with rationale	5-6 Somewhat developed 2-3 advertising objectives creative and media strategy without rationale	7-8 Clearly developed 2-3 advertising objectives creative and media strategy and somewhat supported with rational	9-10 Clearly developed 2-3 advertising objectives, creative and media strategy and supported with rational
Completion of Animoto advertising video	0-2 Is missing some or all of video.	3 Completion of advertising video less than 25-30 seconds that demonstrates some creativity and some application of objectives	4 Completion of advertising video 25-30 seconds that demonstrates some creativity and some application of objectives	5 Completion of advertising video 25-30 seconds that demonstrates creativity and application of objectives
Overall	0-2 Is missing cover, or bibliography/citation in apa style…several spelling or grammar errors	3 Is missing cover, or bibliography/citation in apa style	4 Provides cover page, bibliography and citations apa style…has 1 or 2 spelling or grammar errors	5 Provides cover page, bibliography and citations apa style. Is free of spelling or grammar errors

Format for Assignment #2 MKTG 716

1. Target MarketDetailed Target Market Profile of who is the buyer for your product. Read the instructions, rubric, and text for context.

2. Positioning MapInsert your Axis labels: Your brand and three competitors

b) Positioning Statement: Be clear and follow the format in the textbook

c) Tagline: Make sure it relates to the positioning statement

3. Product LifeCyclea) Drawing of Product Life Cycle

b) What Stage is your brand in?

c) What Marketing Strategies should be considered based on the lifecycle stage?

4. Pricinga) Current Product’s Pricing vs Competitors

b) Tell is why the pricing appropriate or not

c) What pricing recommendations for Objectives:

Strategy: Tactics:

5. Three IMC Tools

IMC Tool	Rationale
1.
2.
3.

6. Advertising Creative a) Advertising Objective:

b) Main Message Received from the Consumer: c) Media Plan: Recommended Mediums Used

7. Video Postingurl Link to Video:

TYPE:GROUPS of 2 or 3 students

DATE DUE:April 6th via e-centennial

Dropbox

VALUE:20% of Final Grade

OUT OF:70 Marks