What behavior do you need to change to make this endeavor successful?

Words: 476
Pages: 2
Subject: Uncategorized

All organizations employ marketing, actively or inactively. Whether you work for a non-profit, a product or services company or even higher ed, you are positioning an offering to an audience in a way that provides value to them. Submit a paper, no longer than 6-pages, (12-point font, 1.5-double spaced) that applies the learning from the class to your organization (any company or organization).

You have just taken on the imaginary new role of “EVP of new growth initiatives.” You are to make recommendations to increase revenue by (1) market penetration, (2) market development, (3) product/service development or (4) portfolio diversification. Write a business plan that addresses market size potential, profitability, the 3Cs, segmentation, targeting and positioning, and the strategy for the 4Ps. (e.g. what is your promotional strategy, not what tactics will you employ)

~If you are recommending improvements to a current marketing plan, (1) articulate how your recommendations will improve current efforts by pointing to the source of incremental value and (2) explain why developing this current opportunity is superior to developing new opportunities.

~If you are recommending a new marketing plan for a product or service extension, (1) make a case for why their recommendations will grow overall revenues without impairing or cannibalizing current revenues and (2) explain why developing this new opportunity is superior to developing current opportunities.

The final paper should cover the following:

Opportunity Analysis
Where is the white space?
5Cs Analysis
Is your goal to grow customers (new markets) or $/customer (current market)? (Utilize the growth matrix)
Target audience segmentation and recommendation (describe the target audience)
Based on segmentation analysis and highest likelihood to attract the audience
Customer behavior
What behavior do you need to change to make this endeavor successful?
Brand positioning statement
Utilize social media tools (or other customer research mechanism) to determine your current brand position and develop a new meaningful positioning (e.g. socialmention.com; googletrends.com)
Product definition
This must fit with target audience and what they are looking for in the market
Promotional strategy
Provide % spend by key activity assuming costing of all activities are equal (this really prioritizes activities rather than costing out each activity)
Provide rationale for prioritization
Distribution channels
Where (or how) will your product or service be sold/reach the market
Pricing/Value recommendation
How will you price your product? What is the strategy and what is the absolute cost.
What are the first 3 things you need to do to make this successful?

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