Marketing Paper – Choose a product or service from a company that you are familiar with.
Marketing Paper
Write a 2500 word Marketing Paper – Choose a product or service from a company that you are familiar with. You can use a company you work for, a company you admire or other company that you are interested in. However, it is best to use a company that is publicly traded so that you can find the information that you need to complete the paper. A company’s website and/or annual report (usually found in the Investor’s Relation section of the website) are good places to find information about the company. Please use APA or MLA format. Use proper grammar, spelling and sentence construction. Proofread your paper thoroughly before submitting.
The paper needs to contain the following information. Please use the following template and include the following bolded section headers in your paper.
Your Name
Date
Class Number
Project Title
Executive Summary
- Company- In this section, put the name of the company and brief overview of their history, products, market position, competition, etc.
- Product- Put the name of the product, product line or service that you are writing about
Target Market
- Describe who the target market is (age, income, location, lifestyle), why that target market was chosen and the segmentation strategy (synchographics demographics/psychographics, etc)
Marketing Mix
Describe the Marketing Mix (also known as the 4Ps- Product, Price, Place, Promotion) for the product, including a deep dive on each of the 4 Ps. Please justify the marketing mix. For example, don’t just describe the price, but describe the pricing strategy. Remember, each of the 4 Ps is under your control so the Marketing Mix should be cohesive based on the target market.
- Product- This section should talk about the features that are in the product and how these features are designed for the target market you are trying to reach
- Price- Talk not only about the actual price but how/why they arrived at that price and also what pricing tactics are being used (skimming/penetration/psychological)
- Place- Discuss the company’s distribution strategy including whether it is direct or indirect and market exposure (exclusive/selective/intensive)
- Promotion- Describe the company’s promotional strategy and promotional tactics
Environmental Variables
Describe the Environmental Variables (Competitive/Technological, Social/Cultural, Legal/Political and Economic) that affect the product and any marketing mix changes needed to adapt to the environmental variables. Remember that environmental variables are external to the company and cannot be controlled. Nonetheless, by knowing the external environment under which they are operating, the company can respond to and anticipate changes that create opportunity for the company.
- Technological/Competitive- describe the technological and competitive changes/opportunities the company is facing
- Social/Cultural- Think about the social and cultural changes that are happening in society and the opportunities and threats this creates for the company. For example, there is more diversity in the population, people are living longer, there are more women in the workforce, people marrying later in life, etc. Think about how these trends affect the company and how they create new marketing opportunities.
- Political/Legal- Discuss the political and legal framework the company is operating under and the threats and opportunities that this creates. Think about laws and regulation that affect you, even which administration is in power and how that affects the company.
- Economic- What is the economic environment the company is operating under. Is the economy getting better or worse? Which direction are interest rates and unemployment headed? How do these factors affect the company and their marketing mix? For example, how does the pricing strategy change if the economy is headed for a recession?
Conclusion
Summarize your thoughts and key points. APA
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