Professional Documents
Culture Documents
This worksheet is a complement to the study guide for both the MKT1. The purpose of this worksheet is to help you think about and apply important marketing concepts to Company G. By working through the exercises and matrices introduced in this worksheet (Section A, Section B, and Section C), you are laying the foundation for your marketing plan required in this assessment. This worksheet should be completed before you write your Marketing Plan, for which a template is provided.
Product
Product Description & Support of Mission Statement: Describe the different features of your product, then explain how that
feature supports the given mission statement Example: Product Description: ACME Roadrunner pellets Mission Statement: Our mission is to delight our customers and channel partners by providing high quality, effective roadrunner pellets with timely delivery, superior customer service, and the best warranty in the industry. How this supports the mission statement: The concentrated formula makes our pellets more effective than competing products. It will be perceived as higher quality because it is more effective. Because it works well it will delight our customers, and they will continue purchasing our products from our channel partners, which will enhance their businesses.
Complete the following table for your product. Add as many rows as necessary for your product. Product Description: Given Mission Statement: We enable consumers to improve the quality and convenience of their lives by providing
Target Market
Target Market: A specific customer group a company focuses its marketing efforts toward. The target market is generally the most lucrative choice from among different market segments each segment being identifiable, measurable, sizable, reachable. For best results, include a fair amount of demographic information (income range, education level, family situation, etc.). Example: Coyotes, located in desert regions of the U.S., seeking revenge against roadrunners, and making more than $25K annually.
Target Market
Competitive Rivalry
[Describe [Describe the the competitive competitive landscape] landscape]
Strengths
This This must must include include 2 2 core core competencies. competencies. Strength Strength 2 2 Strength Strength 3 3
Weaknesses
Weakness Weakness 1 1 Weakness Weakness 2 2 Weakness Weakness 3 3
Vulnerabili ties
Constrai nts
Opportunities
Opportunity Opportunity 1 1 Opportunity Opportunity 2 2 Opportunity Opportunity 3 3 Threat Threat 1 1 Threat Threat 2 2 Threat Threat 3 3
Threats
Leverage
Problems
Copy your Target Market from Section A. Then derive objectives, strategies, tactics, and monitoring procedures that support the mission for each element of the Marketing Mix. Mission Statement Target Market
We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.
C.1: PRODUCT
Objective: Strategy 1: Action/Tactic: Due Date: Strategy 2: Action/Tactic: Due Date: Strategy 3: Action/Tactic: Due Date: Monitoring Activity: When/Frequency:
C.2: PRICE
Objective: Strategy 1: Action/Tactic: Due Date: Strategy 2: Action/Tactic: Due Date: Strategy 3: Action/Tactic: Due Date: Monitoring Activity: When/Frequency:
C.3: PLACE
Objective: Strategy 1: Action/Tactic: Due Date: Strategy 2: Action/Tactic: Due Date: Strategy 3: Action/Tactic: Due Date: Monitoring Activity:
When/Frequency:
Responsible Party:
C.4: PROMOTION
Objective: Strategy 1: Action/Tactic: Due Date: Strategy 2: Action/Tactic: Due Date: Strategy 3: Action/Tactic: Due Date: Monitoring Activity: When/Frequency: