Unit 1 Assignment: Marketing Strategy or Your Next Chess Move
You will only begin this Assignment in this unit, completing Parts 1–3. You will turn these parts in together with Parts 4–6, which you will complete and submit in Unit 2. No paper is due in Unit 1.
Your instructor will assign a business type or industry to students at the beginning of the unit.
The following Course Outcome is assessed in this Assignment, due in Unit 2:
MT219-1: Summarize the basic components of a marketing strategy.
Introduction: Examine the four marketing strategies and read about the importance of doing viable marketing research before you begin planning strategy. Based on what you learn, you will begin this Assignment by examining the mission statement, and then move on to address the situation analysis based on where you live. You will first address the background marketing research based on the business type that will be provided by your instructor.
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. You must use the industry selected by your instructor.
Checklist: Summarize a marketing strategy for Lee’s business, addressing each part.
Part 1 Mission
Redefine Lee’s mission. Lee’s current mission is more of a product-oriented mission statement. For example, “We sell flowers†or “We make pizza.â€
- Write a marketing-oriented mission statement for Lee’s business.
Part 2: Situation Analysis
Organization Strengths and Weaknesses:
- Describe methods that Lee could use to identify her internal strengths and weaknesses information. For example, some businesses use secret shoppers to identify an organization’s strengths and weaknesses. Explain your response.
- Environmental Scan: Who are the direct and indirect competitors for Lee’s business located in your area?
- Using sources like the U. S. Census Bureau (Go to Browse by Topic), describe the demographics affecting Lee’s business in your area.
- How is technology being utilized in the industry assigned that might have a positive or negative impact on Lee’s business?
- Identify Lee’s competitive advantage against her direct and non-direct competitors in the city nearest to where you live.
- Finally, define the term sustainable competitive advantage and explain what advice you would give to Lee in her quest to build a sustainable competitive advantage.
Part 3: Marketing Objectives
- Set marketing plan objectives for Lee’s business (see page 25 of your text).
- Identify at least two S.M.A.R.T. goals (i.e., Specific, Measurable, Achievable, Relevant to the mission, and Time-bounded).
These first three parts of the paper should be a minimum of 1½ pages or 350 words total and use APA format and citation style. Your paper should include headings (Part 2: Situation Analysis: Environmental Scan, etc.) an introduction, and a conclusion.
Access the Unit 1 APA Assignment template.
Preview the Unit 2 Assignment rubric.
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: |
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Part 1, Unit 1 |
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|
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1. Mission
|
|
|
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·
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 |
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·
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. |
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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. |
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5 |
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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
|
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Total Score: |
Percent possible: 100% |
Total points possible: 75 |
Total points earned:
|