Marketing

Marketing Individual Write-Up (max. 7 double-spaced pages)
Write a cohesive essay of up to seven pages that addresses all 11 questions below in
your own words. You must read a minimum of three academic journal articles[1],
business press articles/reports, or relevant books for your study and provide proper
references at the end of the write-up (including author name, publication year, title,
journal name, etc.) following MLA[3] formatting guidelines.
1. Discuss the strengths and weaknesses you believe the focal firm has in
comparison to its competitors.
2. Identify any opportunities or threats present in the firm’s marketing
environment.
3. Among the factors that influence consumer behavior (Figure 5.2), explain
which one you consider most relevant for the firm’s marketing and provide
reasoning.
4. Determine the type of buying decision behavior (Figure 5.5) that you think is
most applicable to the firm, and explain the reasons for your choice.
5. What is the firm’s current target segment? Evaluate the usefulness of this
segment by analyzing its accessibility, measurability, size, and differentiability.
6. Compose a positioning statement for the firm in relation to the existing target
market segment.
7. Identify an additional or alternative segment that you believe would benefit
the firm. Explain its measurability, size, and factors contributing to its
accessibility and differentiability. Ensure that the segment you propose is
actionable for the firm.
8. Would the positioning statement you generated for the current segment also
be applicable to this new target segment, or would the firm need to formulate
a new positioning for the new segment? If the latter is the case, please
provide a new positioning statement.
9. Discuss whether your firm should alter its product(s) and price(s) to target the
new segment.
10.Develop an integrated marketing plan to promote your firm to the new target
segment. This plan should incorporate the utilization of at least two of the four
elements from the promotion mix (Figure 14.1).
11. Estimate the costs for each aspect of the plan (provide the information
source). You are welcome to utilize social media platforms (e.g., TikTok,
YouTube, Instagram, Twitter, LinkedIn, Facebook) and explore innovative
approaches (e.g., contests, events, giveaways) while staying within a
reasonable marketing budget. Ensure that your campaign resonates with and
is relevant to your target market. It should also address the underlying need
that your firm/product/brand fulfills for them, highlighting its unique value
proposition.
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[1] You can search for journal articles on Google Scholar (https://scholar.google.com/)
[3] https://pitt.libguides.com/citationhelp/mla8thedition
Figure 5.2:
Figure 5.5:
Figure 14.1: