Prepare brand extension marketing plan

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Reference no: EM131732433

Brand Extension Marketing Plan BEMP

Complete the given below sections.

1. Positioning -

Describe how your product/service meets the need(s) of your target market segments.

Describe how you are different from your key competition.

Identify your most important distinguishing feature.

2. Marketing Mix -

Each area of the marketing mix should include enough information for department managers to understand your strategy for the product. They will need to make detailed operating and tactical plans to reach your strategy for each area.

Product -

If an Executive were to ask you "What is the product?" - What would you say?" Then provide the features, perceived value, and benefits to the consumer.

This builds on 2.4 and expands to give a full description of the product.

What makes your product different?

What gives your product more value?

How will this product be of benefit to your target market segments?

Price -

Connect your target market and value proposition to price.

How will you set the price?

Select price objective, determine demand, estimate costs, analyze competitor's price

Select a pricing method, select the final price, say how you can adapt the price.

NOTE: Remember if you are offering both wholesale and Retail you will need a Price point for both distribution methods.

Place -

Connect your target market and value proposition to place.

Will you use push or pull and why?

Channel Design Decisions - Remember the whole channel - not just retail!

E-Commerce Marketing Practices

Retailing and/or Wholesaling

Note: How will your product move from manufacturing (Source) to the final user? - If a Service - where/how will the service be performed?

Promotion -

Establishing Objectives - what is to be accomplished?

Choosing Messages and Vehicles - What is the message you want to get across to the target market - what are the best vehicles/mediums to be used to reach the target market?

Evaluating the Results

What is the full Distribution - from Factory to Retailers? (or distributors if b2b)

What is the message you want to get across to the audience? Remember you are developing the communication strategy - what message and why - what mediums do the target market use to receive information about this area of their consumption? This would not include various tactics. The tactics (unless specifically needed as part of the strategy) are developed by department managers as part of their operating plans.

3. Marketing Research

What will be the objective of the research (what do you want to know)?

What will be the scope of the research (what types of research will be utilized and to how broad of an audience)?

When will the research be implemented? You will likely want to include some ongoing research to support your CRM (Customer Relationship Marketing) initiatives.

Attachment:- Assignment Files.rar

Reference no: EM131732433

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Reviews

len1732433

11/22/2017 1:27:02 AM

Use this document as your guide to success. Before you submit your assignments for grading, remove any of the words you see here appearing in any other color than black. Words included in colors on this template are meant to assist you in your completion of the assignment, they are not inclusive nor would they be included with plan. All Brand Extension Marketing Plan documents should use 1” margins, 12 pt. font, and include a cover page and a reference page (if used, read further about APA and business plans) and appendix (as applicable).

len1732433

11/22/2017 1:26:55 AM

The following is important and unique to this Brand Extension Marketing Plan assignment: For the Brand Extension Marketing Plan assignments in this class we will not use the usual APA rules which require in-text citations as 1) no marketing plan ever uses direct quoting within its contents, 2) we are making an exception for use of APA due to the nature of a Marketing plan assignment. 3) Additionally, Do not use double-spacing but instead we will use single space. (Most business plans are single spaced) Be sure to delete any words in color prior to submitting your Brand Extension Marketing Plan sections for grading.

len1732433

11/22/2017 1:26:50 AM

Number Headings appearing in black font need to remain in your own plan; any other words appearing in a color font are intended to help you complete each section. Be sure to delete any words in color prior to submitting your Marketing Plan sections for grading each Unit. All the components of the Marketing Plan are assessed using the following: Subject Mastery Rubric: Knowledge (Can define major ideas) or Comprehension (Can discuss major ideas) or Application (Can apply major concepts to new situations).

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