Unit 2 Assignment: Marketing Strategy or Your Next Chess Move

In this unit you will complete Parts 4–6 and submit Parts 1–6 as one document now in Unit 2.

The following Course Outcome is assessed in this Assignment:

MT219-1: Summarize the basic components of a marketing strategy.

Read the scenario and respond to the checklist items based on the Reading and Learning Activities.

Scenario: Lee is the owner of Lee’s [business type selected by your instructor], which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business.

Instructions: Summarize a marketing strategy for Lee’s addressing each part. You can view Parts 1–3 you completed in Unit 1 concerning the mission, situation analysis, and marketing objectives. This week you will complete Parts 4–6 below to submit your final Assignment to the Unit 2 Dropbox.

Checklist:

  Part 4: Marketing Strategy

  • Describe the target market strategy for Lee’s business. Paint a very clear picture of who Lee will be targeting for her product. For example: Appealing to an entire market, concentrating on one particular segment, or multiple market segments.
  • Explain the four strategies for growth: market penetration, market development, product development, and diversification. How can Lee use market penetration to increase her sales? Explain.
  • Briefly describe your marketing mix strategy: product (size, colors, packaging, use, etc.), place or distribution method, pricing, and promotion. 

  Part 5: Implementation

  • Using the concepts from the text, explain how you will turn your plan into a reality. For example: Detailed job assignments and activity descriptions. 

  Part 6: Evaluation 

  • Using the concepts from the text, describe how will you evaluate your marketing strategy.

Access the Unit 2 Assignment rubric.

Respond in a minimum of 3 pages: 1½ pages (350 words) for Parts 1–3 and 1½ pages (350 words) for Parts 4–6 in a Microsoft® Word® document with additional title and reference pages using the current APA format and citation style. Your paper should include headings, an introduction, and a conclusion.

Submit the Assignment to the Unit 2 Dropbox.

Disclaimer: This exercise may include actual companies and brand names solely for instructional purposes; this exercise is not associated with any such actual company or brand name. All trademarks remain the property of their respective owners.

Units 1 and 2 Assignment Grading Rubric

 

Criteria:

Percent possible:

100%

Points possible:

75

Points earned:

Response addresses the checklist items and the scenario provided, demonstrating analysis and critical thinking regarding Lee’s business:

 

 

 

Part 1, Unit 1

 

 

 

1. Mission

 

 

 

 

·         Writes a marketing-oriented mission statement for Lee’s business.

 

5

 

2. Situational Analysis

·         Describes methods that Lee could use to identify her internal strengths and weaknesses information.

 

5

 

·         Describes demographics for Lee’s business in the local area.

 

5

 

·         Explains the technology being utilized in the industry assigned that might have a positive or negative impact on Lee’s business.

 

5

 

·         Identifies the competitive advantage against direct and non-direct competitors in the nearest city.

 

5

 

·         Describes the concept of sustainable competitive advantage and explains what advice to give Lee for building a sustainable competitive advantage.

 

5

 

3. Marketing Objectives

·         Sets marketing plan objectives for Lee’s business.

 

5

 

·         Identifies at least two S.M.A.R.T. goals regarding Lee’s marketing strategy.

 

5

 

Part 2, Unit 2

 

 

 

 

4. Marketing Strategy

·         Describes the target market for Lee’s business.

 

5

 

·         Explains the four strategies for growth.

 

5

 

·         Identifies a marketing penetration strategy and how Lee can use the strategy to increase sales. Explains response.

 

5

 

·         Briefly describes the marketing mix strategy: the product, place (or distribution), pricing, and promotion.

 

10

 

5. Implementation

·         Using concepts from the text, explains how to turn the plan into a reality.

 

5

 

6. Evaluation

·         Using concepts from the text, describes how to evaluate and control the marketing strategy proposed.

 

5

 

Subtotal: Parts 1–6

100%

75 points

 

Points that may be deducted for unacceptable writing, spelling, and grammar in a minimum 3-page (700-word) paper using APA format and citation style.

 

20%

 

15 points

 

 

Total Score:

Percent possible: 100%

Total points possible: 75

Total points earned: