Management > ESSAY > Marketing Strategy and Practice (All)

Marketing Strategy and Practice

Document Content and Description Below

For this second assignment of Business Profile semester project, you need to develop a 5-8 page document (12 font, double-space) on the Marketing Strategy and practice of the firm/company you chose fo ... r your project. Please note that you will need to stick with the same firm for all three project assignments. You can again use Yahoo! Finance, Google Finance, or Hoovers.com to conduct research. For a sample assignment, please click on the Blue HTML link at the very top of this assignment description named "Sample Assignment 2". This assignment has essentially three components: Market Research, Marketing Mix and International Market Entry Strategy. Please include the following components in your assignment: For Market Research, you will be doing research on the industry as a whole (rather than just on the firm you are covering--otherwise there will be point deductions), such as market growth and trends. You need to address the following two areas: 1. Market Growth/Size and Trends (20 pts): How quickly is the industry overall growing (or shrinking)? What are the trends in the industry (please focus on the industry as a whole rather than the individual firm you are covering)? How will they affect the industry as a whole (analyze both positive or negative effects)? 2. Key Competitors (20 pts): Who are the main competitors of the firm? What different categories do they fall into? For Marketing Mix, you need to address the following 4Ps relevant to the firm you are writing about: 1. Product (10 pts): What stage of the product life cycle are its products (i.e. introduction, growth, maturity or decline) in? Are they convenience products, shopping products, or speciaty products? 2. Price (10 pts): What pricing strategy does the firm employ? Profitability-pricing techniques such as matching the competition, creating prestige and skimming? Or volume-pricing techniques such as penetration, every day low pricing, high/low, and loss leader? 3. Placement/distribution (10 pts): What distribution strategy does the firm employ? Intensive, selective or exclusive distribution? If applicable, where are the retail stores typically located? What about non-store retailing such as online or catalog distribution? 4. Promotion (10 pts): What's the firm's promotional mix, e.g. its strategies in advertising, personal selling, public relations (PR) and sales promotion? Be as specific as you can be. For international market entry strategy, you need to address the following two areas: 1. Host country analysis (10 pts): Which country will you select as the host country for your firm to enter? Why? Please describe the firm-country fit. 2. Mode of entry (10 pts): Which mode of entry (i.e. licensing, franchising, strategic partnership, joint venture, wholly owned subsidiary, etc.) is most appropriate for entering the host country named above? Why? [Show More]

Last updated: 3 years ago

Preview 1 out of 8 pages

Buy Now

Instant download

We Accept: