...Marketing Plan: Phase III JoAnn Butcher, Amber Culwell, Kyle Grant, Omayra Moreno, Mathew Parish August 29, 2011 Michael Ricco Marketing Plan: Phase III In this paper Marketing Plan Phase III we will be discussing the description of our products attributes and service fully in depth. Team B will discuss how our product will evolve through the products life cycle as well as describe what will take place through that time and what will affect that time period for our product. Team B will also discuss how the life cycle affect the marketing of product introduced in phase I. This paper will identify the positioning and differentiation strategies for the product and the services our product will provide for our potential clientele and how it will provide them the protection they will need for all of their electronic WIFI required devices and the cost for our product that will suit our customers. Attributes of the Product The product created by Team B, security software to protect from the dangers of using Wi-Fi hotspots, is an extremely valuable product. It offers many favorable attributes like lifetime protection of the user’s personal information, easy installation and free updates over the lifetime of the service. The information age requires technology users to be plugged in at all times. Because of this constant need to be updated, the convenience of public Wi-Fi hotspots is ideal. Even with great convenience, Wi-Fi hotspots are one of the...
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...Marketing Plan: Phase III Team D: July 18, 2011 MKT 421 University of Phoenix Glenna Twing Marketing Plan: Phase III Verizon, a global leader in telecommunications, information technology, and entertainment hopes to leap-frog over the competition with its development of an integrated whole-house digital video recorder (DVR). Verizon’s fiber optic (FiOS) service is the only television, Internet, and digital voice service currently available using 100% fiber optics (Verizon, 2009). As part of a team assignment, Team D has provided plans for the innovative whole-house DVR and identified the segmentation criteria that affects the target market. These factors may influence purchasing decisions of Verizon’s customers but more importantly these factors affect the marketing strategy. Developing a new product or service begins by conducting extensive research into the quality of the product, the wants and needs of the target market, introduction of the product to the public, meeting the appropriate price, and competition. In this phase, Team D will discuss differentiation and positioning, product life-cycle, and the appropriate marketing mix for Verizon’s successful launch of their new product and service. Whole-House Integrated DVR Verizon’s new product - a whole-house integrated wireless (WiFi) enabled cable box offers more features than any other cable box on the market. With the purchase of this new system, customers have less equipment to worry about, leaving more...
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...Marketing Plan: Phase III Team C University of Phoenix MKT/421 Jared Oakley December 14, 2010 Marketing Plan: Phase III Phase three of the marketing plan focuses on the details of the new service Comcast is introducing to the market. This phase outlines elements of the new “Pick Your Channel” service in more detail than previous sections of the new marketing plan. The expected product life cycle is revealed, and the marketing team explains in detail the pace at which the product is expected to move through its life cycle and describe the factors predicted to affect the movement. The typical product life cycle consists of four stages and the marketing team will document plans for each of these stages. The “Pick Your Channel” service is different from any other service currently in the market, and this portion of the marketing plan identifies Comcast’s plan for positioning of the new service and differentiation strategies. The “Pick Your Channel” service needs to be positioned in the market so that consumers recognize the need and value it fulfills. The marketing team also introduces the pricing strategy for the new service. The new service is not intended for every consumer, so the team needs to keep the target market in mind when setting a price. The marketing team further explains these issues concerning the “Pick Your Channel” service in the following paragraphs. Attributes are properties of any product, brand, or service. Attributes of a product...
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...as a marketing manager for a company that has been making a branded product X* for the past 10-20 years. The product has now reached its maturity and its sales have stabilized. The management is worried that the sales will soon start declining for this product. Before that happens, it wants to be prepared with its next plan of action. The management is thinking about either reviving the product or introducing a new one in the same line. The management has asked you for ideas and suggestions regarding the future of X. How will you go about doing that? Will you revive X? Will you innovate and introduce a new product in the same line? This is your chance to prove yourself at your first assignment in the company. Draw up a marketing plan for X. There are three phases in this project: l. Generate a Research Proposal ll. Collect and Analyze Data lll. Formulate a Marketing Plan and Present a Report Generate a Research Proposal Select any product, similar to X, which has been in the market for 10-20 years. It has been in the market for a long time now and is just beginning to face flagging demand. *About X: Look around you - there are a variety of branded products that have been around for a long time. You can probably see the same brand of television you used 10 years ago, or the same cake-mix brand you love. However, these products have probably changed since inception to adapt themselves to newer technology and to compete with younger brands. Phase II Collect...
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...Marketing Plan July 2, 2012 MKT 421 Ronald Bonlender Marketing Plan Apple Inc. became incorporated in 1977 and has since generated many innovations giving Apple Inc. a valuable reputation as well as immense revenue. Apple Inc. designs, manufactures and markets a variety of products sold nationwide through retail stores, online sites, and direct sale. Apple Inc. is recognized for product differentiation and will continue to do so with the introduction of Apple Inc.’s I-Magine (video game console). In creating a marketing plan, Apple Inc. intends to consider various factors, such as geographic availability, product mix, and transmission of product description. In addition, phase I of Apple Inc.’s marketing plan will consider an effective SWOT analysis to determine strengths, weaknesses, opportunities, and threats, or trends to creating this latest product. Furthermore, marketing research and analyzing consumer factors, such as demographics, psychographics, behaviors, and geographic considerations will ensure I-Magine’s success. The function in Phase I of Team B’s marketing plan is to consider industrial analysis in relation to competition and differentiation from other competitors in the video gaming industry. To pursue this strategy in Phase II, Team B undertook data-based synopsis from different online resources to gather information on the organizational strategy of Apple Inc. Findings from research information pertaining to the video game industry’s products and services...
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...Perceptual Maps in Marketing Simulation MKT/421 Perceptual mapping is a technique used by marketers to visually display the perceptions of current and potential customers. Thorr Motorcycles is a billion dollar company that offers services in rider training, dealer training, dealer software packages, and motorcycle rentals. The image of Thorr Motorcycles have been sought by customers for years but it is a different image that new customers are looking for. The purpose of this simulation is to focus on three objectives. The first objective is to analyze the situation by constructing a perceptual map. The second objective is to recommend solutions for the organization by creating a marketing plan with a budget to determine whether to reposition the organization or launch a new product. The final objective is the results that determine the parameter values for the future of the organization. Phase I - The Situation The major situations in this simulations was Thorr Motorcyles faced a decrease in sales of its top product, the Cruiser Thorr. Other situations in the simulation were the need to create a market plan that repostion the Cruiser Thorr in the market versus launching a new motorcycle, and plotting the Crusier Thorr brand attributes on a perceptual map. Thorr’s Motorcycles lifestyle image is important to the organization because it influences customers to purchase the top selling...
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...Running head: USING PERCEPTUAL MAPS IN MARKETING Using Perceptual Maps in Marketing Simulation MKT/421 The Situation Producing more than 200,000 “plus” units per year, Thorr Motorcycles, is a billion dollar manufacturing company. Thorr also offers such services as dealer training, dealer software packages, motorcycle rentals, and rider training, just to name a few. The image that CruiserThorr symbolizes is one of “masculinity, mobility, and freedom”. To gain insight in this positioning and reason Thorr is experiencing a decline in sales, Thorr can use representation of the consumer’s view of the product. Increase sales/profits, Thorr will need to change the consumer view of his or her motorcycles. Phase I “The motorcycle industry is growing annually, but sales of Thorr Motorcycle’s existing product Cruiser Thorr have been decreasing. This decrease is because of the aging of target customers. In addition, the young generation of consumers with smaller incomes, is looking for a motorcycle that they can afford with their income. To reverse declining sales a new marketing plan is needed. Four fundamental parameters selected. First, Lifestyle Image, easily considered the most important role in the production of motorcycles, and is the best selection for the perceptual map. This is a very dominant attribute because the image will sway consumers into purchasing the product rather than the other functional attributes. Second, Quality engineering covers all...
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...Thorr Motorcycles MKT/421 April 14, 2014 Using Perceptual Maps in Marketing: Thorr Motorcycles Thorr Motorcycles, Inc. has a current worth in excess of five billion dollars and is manufacturing over 200,000 units annually. Thorr represents 40% of the total market which makes this company a leading name within the industry. Thorr don’t only sell motorcycles but offers dealership training, dealer software support and mechanical training. For customers, Thorr offers motorcycle rentals and biker training. The projected image of CruiserThorr is of “masculinity, mobility, and freedom”. Currently Thorr is experiencing a decline in sales and wants to know the reason. Thorr can survey customers as to their needs and desires in a motorcycle and then change accordingly (University of Phoenix, 2014). Phase I: Where is the Thunder? The problem is decreasing sales. “The motorcycle industry is growing annually, but sales of Thorr Motorcycles' existing product, CruiserThorr are decreasing.” Thorr's target market is mature individuals, over 40 years of age. Younger persons are generally less likely to afford the “Cruiser Thorr". Thorr needs to redesign the marketing strategy to increase its sales and attract new customers (University of Phoenix, 2014). Market position of CruiserThorr will be determined by using a perceptual map. Positioning on the map will be based on four fundamental parameters that can be used to promote Thorr...
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...Perceptual Maps in Marketing MKT 421 Perceptual Maps in Marketing Perceptual Maps Thor Motorcycles, Incorporated builds motorcycles and motorcycle accessories. “Thor motorcycles currently produce more than 200,000 units” The company specializes in the Cruiser Thorr, its high-end motorcycle. The Cruiser Thorr helps the company maintain five billion dollar sales in its industry. Unfortunately, the current buyers are growing older, and the motorcycle is not attracting new buyers. The marketing team has decided because of the decline in sales that it must make a decision to change the marketing of the Cruiser Thorr or launch a new line referred to as the RRoth. The use of a perceptual map will be necessary to base this decision on the best move for the company. The perceptual map will be broken down into three sections. Phase I A new age group of consumers is entering the motorcycle industry. “The younger age demographic (21-35) have less disposable income and are looking for a new symbol of lifestyle with motorcycles”. [ (Using Perceptual Maps in Marketing, 2012) ] The other factor affecting sales of the Cruiser Thorr is competitors entering the market and pulling sales from Thor Motorcycles. The Anazai made by Haruhiso-Daisetsu Motorcycles and Espritiques made by Michelin Motorcycles offer consumers more services and lower prices. The fun and safer image also attributes to the loss of sales. Marketing research shows that at the current level the Cruiser Thorr rates...
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...Marketing Plan Phase III When a new product is introduced to the market, consumers go through a phase, which influences their decision to accept it or not. Different groups of consumers accept new products or ideas at different rates. Some accept the new item as soon as it is introduced to the market, but others wait until the item has been on the market for a length of time; meaning it usually takes time for a new product to saturate or diffuse a market (Bearden, Ingram, & LaForge, 1995). Team A will describe the attributes of the new product, elaborate on the products lifecycle, determine a differentiation and positioning strategies and introduces a pricing strategy. Product Attributes McDonald’s is proud to present its’ New Healthy Fish Sandwich. It is tasty, filling with a low calorie intake. It has special benefits for diabetics, people with high blood pressure, and high cholesterol, giving them a place to grab fast food on the go. The Healthy Fish Sandwich is excellent for consumers who want to make and maintain a healthy lifestyle. The fish remains sealed and packaged in a special wrapping FDA approved to keep fish fresh longer. The wrap is biodegradable, foil insulated, and un-waxed with the McDonald’s logo. This special sealing is important because the fish is imported from the colder waters and the deeper sea regions of the North Atlantic Ocean, and delivered too many destinations. Infrastructure is important while importing and exporting the fish for a timely...
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...Introduction to Marketing A) What is marketing? (pg 5) 1) Marketing is managing profitable customer relationships 2) The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return B) Understand core marketing concepts (pgs 6-8) 3) Customer needs (a) Needs: States of felt deprivation (b) Wants: The form human needs take as they are shaped by culture and individual personalities (c) Demands: Human wants that are backed up by buying power 4) Offerings (d) Market offerings: Some combination of products, services, information, or experiences offered to a market to satisfy need or want 5) Customer value and satisfaction 6) Exchange (e) Exchange: The act of obtaining a desired object from someone by offering something in return C) Understand customer relationship management (pg 13-14) 7) Customer (perceived) value (f) The customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those competing offers 8) Customer satisfaction (g) The extent to which a product’s perceived performance matches a buyer’s expectations D) Capturing value from customers (slides) 9) Customer lifetime value, loyalty etc II) Chapter 2: Company and Marketing Strategy ...
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...Introduction to Marketing A) What is marketing? (pg 5) 1) Marketing is managing profitable customer relationships 2) The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return B) Understand core marketing concepts (pgs 6-8) 3) Customer needs (a) Needs: States of felt deprivation (b) Wants: The form human needs take as they are shaped by culture and individual personalities (c) Demands: Human wants that are backed up by buying power 4) Offerings (d) Market offerings: Some combination of products, services, information, or experiences offered to a market to satisfy need or want 5) Customer value and satisfaction 6) Exchange (e) Exchange: The act of obtaining a desired object from someone by offering something in return C) Understand customer relationship management (pg 13-14) 7) Customer (perceived) value (f) The customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those competing offers 8) Customer satisfaction (g) The extent to which a product’s perceived performance matches a buyer’s expectations D) Capturing value from customers (slides) 9) Customer lifetime value, loyalty etc II) Chapter 2: Company and Marketing Strategy ...
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...You have recently joined as a marketing manager for a company that has been making a branded product X* for the past 10-20 years. The product has now reached its maturity and its sales have stabilized. The management is worried that the sales will soon start declining for this product. Before that happens, it wants to be prepared with its next plan of action. The management is thinking about either reviving the product or introducing a new one in the same line. The management has asked you for ideas and suggestions regarding the future of X. How will go about doing that? Will you revive X? Will innovate and introduce a new product in the same line? This is your chance to prove yourself at your first assignment in the company. Draw up a marketing plan for X. There are three phases for this project: I. Generate a research proposal Select any product similar to X, which has been in the market for 10-20 years. It has been in the market for a long time now and is just beginning to face flagging demand. *About X: Look around you – there are a variety of branded products that have been around for a long time. You can probably see the same brand of television you used 10 years ago, or the same cake-mix brand you love. However, these products have probably changed since inception to adapt themselves to newer technology and to compete with younger brands. II. Collect and Analyze Data After you have selected your brand X, collect data on sales, market demand, consumer behavior regarding...
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... | Colors | | How to achieve variation (DIFFERENCE) * Different media * Different benefits * Different characters/ actors * Different Settings Elements of effective Campaign Strategy Market Research (Industry; competitors; product; consumer) Problem/Opp. Identification Target I.D. Objectives Budget Creative Strategy Advertising Media Strategy Promo SITUATION ANALYSIS OBECTIVE STRATEGY EXECUTION: The Ads Why a written plan and NOT Verbal? 1. Encourages logical thinking 2. Offers a factual basis for decision making 3. Provides a complete guide for everyone working on account; it is a proposal before approval Guide during implementation phase 4. Provides a written record or benchmark of performance PG 3a Planning System: 1. Where are we now? – Situation analysis 2. Why are we there? – Problem Identification 3. Where could we be? – Opportunity Identification, then turn it into a statement of objectives 4. How do we get there? - Advertising strategy and tactics 5. Are we getting there? – Ad...
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...Management Models... 150 Slides Product Promotion Price Customer Service Place People Processes Powered by www.drawpack.com. All rights reserved. Key Words... Break-even – Financing Life Cycle – Economies of Scale – Elasticity – Sales Cycles – Market Potential – Portfolio Matrix – Product Model – Four P’s – Push/Pull Strategy – Marketing Mix – PDCA Cycle – SWOT – Value Chain – Ansoff Matrix – BCG Matrix – 7-S Model – Core Competencies – GE Business Screen – Nine Cell Industry – Risk/Reward Diagram – Porter’s Five Forces – Industry Competition – Generic Strategies – Geobusiness Model – Porter’s Diamond – Matrix Design – PIMS – Leavitt’s Diamond – Belbin’s Team Roles – Theory X/Y – Maslow’s Hierarchy – Herzberg’s Theory – Cultural Web – Pareto Curve – CIM Concept – Value Drivers Markets and Structure of Flow Resources Resources Money Resource markets Money Taxes, goods Services, money Services, money Manufacturer markets Taxes, goods Government markets Taxes Services Consumer markets Services, money Taxes, goods Money Goods and services Middlemen markets Money Goods and services A Company‘s Macroenvironment MACROENVIRONMENT IMMEDIATE INDUSTRY & COMPETITVE ENVIRONMENT Suppliers Substitute COMPANY Rival Firms Buyers New Entrants The Economy at large Break-even Point Value $ Sales Profit Break-even Point Variable costs Total costs Current sales level Fixed costs 0 0 Units sold Break-even...
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