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I. Introduction and Background

You will describe the Marketing Strategy of an existing firm. Discuss, in detail, the target market(s), marketing mix, and uncontrolllables of the firm. You can pick any firm; it is typically easier if the firm sells to households rather than organizational customers. It is also helpful if you know the company well; feel free to use a family business or a firm with which you've worked. Information on the firm can be gotten several ways: library search, writing to company for literature/press releases/information, using the internet, or interviewing key personnel. Of course, information is also garnered from your personal dealings with the company and its products.

Doing this project is a wonderful learning experience. The benefits of doing this type project are: hands on experience in marketing management; opportunity to apply a variety of skills, and opportunity to make concrete connection between classroom theory and real world work situation.

II. Project Outline

Below is a detailed outline that you may follow while writing your Strategy:

A. EXECUTIVE SUMMARY

This one to two page section summarizes your entire document. This is the last thing you write for the report, but it is placed at the beginning of the report.

B. BODY OF REPORT

1. Your Company--brief description (one page or less) providing background information on company.

2. Target Market--include a detailed description of relevant market, including various market segments, statement of primary target market, secondary market and tertiary markets (if relevant). Discuss relevant trends in the market, i.e., growth or shrinkage of market segments, etc. Also describe geographic location of target market(s), demographic characteristics of target market(s), and what underlying needs and/or wants of target market(s) are you satisfying with your offering.

3. Marketing Mix

a. Product Description--goods and/or services--in addition to a summary description of product, this section should include benefits the product(s) offer the end-user; brand name (if applicable), packaging, location of product(s) on Product Life Cycle Curve, goods class, etc.(description is somewhat dependent on nature of product and whether you're dealing with a good or service).

b. Price--price of product(s) and competitors' prices--depending on nature of product, discuss gross margin or profitability of product. Discuss price sensitivity of target market(s).

c. Place--description of distribution channels (if a retailer, description of store location and physical appearance of store). Discuss the market exposure level(s) used by company. Describe the relevant middlemen and retailers used, if any.

d. Promotions--description of personal sales, advertising, sales promotions and publicity company uses. Please provide illustrations.

e. Company’s performance--historical recording of sales and profits for the last several years (if available to you).

4. Competition--list of competitors, discuss the strengths and weaknesses of each competitor.

5. Other relevant "Uncontrollables"--discussion may include economy, law and politics, demographic and social considerations, technology, etc.

6. Bibliography--prepare an annotated bibliography. In addition to providing traditional bibliographical information, describe what information you received from the source and how it was used.

Feb 28--information gathering stage-conduct interview and/or send for company information and/or do library literature search and/or use the internet.

Mar. 16--prepare detailed outline of marketing strategy and relevant uncontrollables

*hand in to professor

Apr. 15--rough draft of marketing strategy

Apr. 26--revised draft of marketing strategies

Apr. 29--prepare executive summary, annotated bibliography, final editing and revising

Appendix

Try to identify various relevant market segments for this company. Of the segments, identify which segment(s) the firm is targeting with their offering. For each segment fill out the following five questions.

what are the "determining dimension" for this segment:

demographic description of segment (if households) or describe type of firm (if organizational customers)

geographic location:

usage rate:

any outstanding behavioral or psychographic variables common to this segment (omit if organizational customers)

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