This Assessment requires submission of one 8- to 10-page marketing strategy evaluation. For this Assessment, you will develop and present an assessment overview of a high-end brand that is planning to incorporate the possibility of selling a lower-end product or service to a new market. A big consideration is evaluating brand value. Your task will be to evaluate your current high-end brand and compare it to the potential new low-cost product/service and assess the real value aspect in order to make an impact on customer buying decisions and perceived value from the overall customer base, all while keeping your current customer base. You may select a company from the following industries as your chosen company to evaluate (Fashion, Technology, or Hospitality – Hotels/Resorts, Restaurants, etc.). You will want to select a large enough company with sufficient information on the web to be able to pull together the material you need for this exercise.
The product of your evaluation will be a report that you could deliver to the company’s CEO and senior leadership team for review. In addition to the requirements that follow, be sure to incorporate references to appropriate academic sources, such as those found in the learning resources from this Competency.
PROMPTS/QUESTIONS TO ANSWER –
A. PART ONE: Incorporating the Marketing Mix (2-3 pages)
The first part of your evaluation should focus on the marketing mix and its overall role in your analysis. Address the following:
Analyze the importance of the 4 Ps in establishing the marketing analysis.
As part of your analysis, explain how each of the 4 Ps factor into marketing decisions.
Propose a new selling strategy for the organization based on your analysis of the organization’s current selling strategies.
Analyze how persuasion can be used to influence consumer behavior.
B. PART TWO: Incorporating Creative Value (3-4 pages)
In the second part of your evaluation, address the following:
Examine value creation and value capture and what it means to apply a value proposition to a brand.
Synthesize customer value, business value, and cultural value of the proposition and how that value proposition challenges the marketing environment.
Summarize how you can use Porter’s Five Forces theory to develop an overall marketing strategy that creates value for your existing brand and proposed product/service offerings.
As part of your summary, analyze the effects of Porter’s Five Forces theory on your current and proposed strategies.
To support your ideas, do some research and locate at least two examples (a minimum of one example per strategy) of how marketing can shape strategy.
C. PART THREE: Incorporating Market Share Capturing (approx. 2 pages)
In the third part of your evaluation, address the following:
Summarize how market share approach can lead to consumer confidence.
Synthesize your market share analysis for the new strategy and its impact on the organization.
To conclude your evaluation for the CEO, defend how your market share strategies will support your overall marketing strategy for both products and capture market share for the company.
D. EXECUTIVE SUMMARY (page 1 of the report)
Provide the CEO with an executive summary of your evaluation of the opportunities for the brand. This will serve as the first page of your report. Be sure to address the following in your executive summary:
Clearly state the purpose of the report.
Concisely summarize the results of your evaluation of how the company could expand its brand to include a lower-cost version of a product/service that would retain existing customers while capturing additional market share.
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**Please find the rubric and supporting materials attached.
**Please also note that an outline (APA 7) is required, along with the marketing strategy evaluation + the executive summary.
Thank you in advance for your help with my assignment! 🙂
