This assignment is a team assignment that is worth 30% of your overall final grade. The assignment is comprised of two key components – a written report that cannot exceed 10 pages in length and is worth 20% of your final grade and a 10 minute presentation that is worth 10% of your final grade. Each team member will receive the same mark as the overall group.
This report & presentation will take the form of a strategic market analysis and will be of a real live company. Your team of consultants has been hired by the board of directors of your selected company to assess the current company brand and recommend suggested improvements to the brand’s marketing.
Late assignment submissions are penalized at 10% per day late.
I) Written Team Report (20%)
The length of the written report should not exceed 10 pages doubled spaced not including exhibits. The structure of the written report should have the following content elements in order to earn full marks:
1) Executive Summary (no more than 1 page).
The purpose of an executive summary is to summarize a longer report into a shorter report as Senior Executives such as the CEO, CFO, Vice-President of Marketing don’t have the time to read a long detailed report. The executive summary must summarize both your findings/analysis in addition to your key recommendations and reasoning for your recommendations. There are many examples on the internet on how to write an executive summary. The executive summary will often be the last component in your report to be written.
2) Competitive Analysis:
Your group is required to conduct a competitive analysis of your product and four direct competitors. Use the table format noted below to capture details on your product, its marketing mix, and how it compares to competitors. Remember to edit your work carefully to keep it accurate, brief, and precise. Make sure that you clearly identify your product as well as its competitors in each of the column headings. You must use the following table and you must use the GMID database for this section as discussed in class. Failure to use the competitive analysis table/GMID database will result in severe grade penalization.
Your Brand Competitor #1 Competitor #2 Competitor #3 Competitor #4
PRODUCT (Identify features of your product and what sets it apart from the competition)
PRICE (detail your product’s price points vs. the competition)
PLACE (detail the online and offline alternatives for purchasing the product – list specific stores – e.g. Loblaws, Wal-Mart, Costco, Amazon, etc.
PROMOTION (List & explain the online and offline promotional approaches used by your brand and it’s competitors)
3) Target Market & Personas
Your group is required to work together to complete a target market profile for your product’s consumers and a primary and secondary persona. You must use the target market profile table below; failure to use the target market profile table will result in severe grade penalization. You must also create a primary and secondary persona for your target market; you may just list your persona characteristics in a bullet like format or you can use PowerPoint as per the example illustrated on page 6; it’s up to your team to decide which persona format to use.
TARGET MARKET PROFILE
What is the basic factual census-type information on the target market as a whole? Include information on:
● Ages (ranges)
● Marital statuses
● Incomes (ranges)
● Education (high school + etc.)
Where does the target market live and work? Include information on where the target market resides such as:
● Region or provinces
● City size (small/medium/large)
● Density (urban/suburban/rural)
What are the prevailing attitudes, values, interests, habits, opinions, and approaches to life that this target market shares?
Clearly describe the target market’s general approach to living:
● Personality traits (social, compulsive, extroverted, introverted, intuitive, analytical, judgemental etc.)
● Lifestyle values and approaches (caring, fearful, confident, negative, adventurous, materialistic, resentful, family oriented independent, optimistic, dependent, etc.)
● Leisure activities, hobbies and interests (politics, sports, music, the arts, fashion, gaming, wellness, fitness, food, gardening, the environment, cars, movies etc.)
● Media habits (Internet sites, social media sites, apps, newspapers, magazines, TV, radio, etc.)
● Technology usage (desktop, laptop, tablet, smartphone, e-reader, smartwatch etc.)
How does this target market use and interact with the product?
Include information on how and why consumers will buy the product as follows:
● Main occasion for product use (leisure, recreation, socializing, work, medical, home, family, personal etc.)
● Main product benefit sought (entertainment, self-improvement, fashion, fun, personal status, specific product traits such as taste, speed, nutritional value
● Primary and secondary usage
● Frequency of usage and frequency of purchase
● Degree of brand loyalty to the product, (none, some, medium, strong)
Examples for LivingLou.com (use PPT to create these)
4) Positioning Map
Create a positioning map for your product in relation to the four main competitors in your competitive analysis. See page 161 of your text book for an explanation and an example of a positioning map. Label each axis with parameters that are important to the purchase decision of consumers for your product, noting that price is rarely one of these primary decision-making variables. Clearly identify each competitor as well as your own product
5) Positioning Statement:
Prepare positioning statements that clearly identify the image of the product in the market in relation to its target market, the market in general, and the competition. These elements are clearly outlined in Chapter 6 of your textbook and in the Chapter 6 lecture slides Volvo example). Failure to include the following components in your positioning statement will result in severe grade penalization:
• Name of Brand
• Positioning Statement
• Supporting components/justification for your positioning statement
• Target Market
6) SWOT Analysis:
Your team will conduct a SWOT analysis on your brand only. You can set up your SWOT in a bullet format or in a table – the format of your SWOT is up to your team to decide. Failure to include all four components for your SWOT will result in severe grade penalization.
7) Marketing Mix Recommendations:
The final section of your report will be your marketing mix recommendations. Since this is your last section of your report it should be completed after you have completed sections 1-6. One of the main learning intent of this project to conduct a through strategic analysis in order to recommend some sound recommendations to the Board of Directors. Please make sure you detail the recommendations for each area of the marketing mix. In some areas you will recommend a continuation of current marketing practices and in others you will detail more radical changes. Regardless of your recommendations, in all areas your recommendations need to clear, accurate and detailed. You must also include a set of reason(s) for your marketing recommendation – failure to provide reasons will result in your grade being penalized.
Team Written Report Marking Criterion As Follows:
Criteria: 5 – Exceeds Expectations 3 – Meets Expectations 1 – Below Expectations
Executive Summary The executive summary clearly and concisely communicates the essential elements of the strategic analysis/body of the written report. The length of the summary is no more than 1 page in length The executive summary includes most of the essential elements of the strategic analysis/written report. Some of the information in the report is not required to understand the report. The length of the summary is more than the required 1 page in length. The executive summary is missing from the written report.
Competitive Analysis Your brand and your four major competitors clearly defined using the GMID database. The four main competitors clearly described including a thorough analysis and explanation of each of the marketing mix components. Your brand and not all of your four competitors identified and analyzed. Missing some explanation of your brand’s and your four main competitors marketing mix components. The competitive analysis was missing from the written report.
Target Market & Personas Clear description of target market with extensive and relevant demographic, geographic, behavioural response and psychographic information, linked to product’s features and benefits. Both the primary and secondary personas were included and were consistent with the target market profile. The target market profile table provided for the assignment was used. Clear description of target market with some relevant demographic, geographic, behavioural response and psychographic information linked to product’s features and benefits. The target market profile table was not used. One or both of the personas was missing from the report. The Target Market & Personas was missing from the written report.
Positioning Map & Statement Clear explanation of company’s/brands positioning to show how the product/service is unique. A direct link to the needs of the target market. The positioning map included the brand and its four main competitors. The positioning statement included the name of the brand, positioning statement, Supporting components, and target market. Unclear explanation of the positioning map/statement and/or unclear link to the needs of the target market. Missing some components such as not showing all four main competitors and/or missing key content components for the positioning statement. The Positioning Map & Statement was missing from the written report.
SWOT A thorough SWOT analysis is provided, based on the analyses of the external influences, market, product and competition. Each item in the SWOT is logical. Strengths and weaknesses are clearly internal factors, and opportunities and threats are clearly external. The SWOT analysis is provided, but there are several missing points from the analyses of the external influences, market, product and competition. Several strengths/weaknesses or opportunities/threats are inappropriate. The SWOT was missing from the written report.
Recommendations The recommendations are detailed/specific/actionable. The recommendations also have reasons as to why the company would consider your recommendations. The recommendations are unclear, not detailed enough. Some of the recommendations are missing reasons/rationale. The recommendations are missing from the written Report.
Organization of Content The organization and content of the report has all the required sections. The length of the report does not exceed 10 pages in length. There are no spelling/grammar mistakes. All references are properly cited/reported. The report has some missing sections; there are several spelling/grammatical errors. The report is missing some citing of references. The report exceeds 10 pages in length. The report is unclear and missing several sections. There are numerous spelling/grammatical errors, citing of references. The report exceeds 10 pages in length.
II) Team Presentation (10%)
The team presentation will be a presentation of your team written report and be held during the last class. Each team will have 10 minutes to present. The presentation is worth 10% of your final grade.
Since this will be an online presentation – you will insert your voice into the presentation. I will leave up to each team to decide to either have one person insert their voice and do the entire presentation or have multiple voices. Here is a link on how to insert your voices into PPT – https://support.office.com/en-us/article/video-add-and-record-audio-eeac1757-5f20-4379-95f2-0d0cd151d5b8
The presentation will be required to be submitted to the appropriate Blackboard assignment – please check the critical path on Blackboard for the specific due date. Please note that assignment submissions that are late carry a 10% per day late penalty. You must use PowerPoint.
Remember based on your analysis of your company, you’re trying to convince the Board of Directors to implement your recommendations which likely will cost the company money.
The content of your presentation must include the following elements/slides:
• Introductory slide: With full names of students and the name of the product
• Slide 1 – Overview of product
• Slide 2 – Competitive overview
• Slide 3 – Target market profile
• Slide 4 – Persona (primary and secondary)
• Slide 5 – Product positioning statement
• Slide 6 – Positioning map
• Slide 7 – SWOT analysis
• Slide 8 – Product recommendations
• Slide 9 – Price recommendations
• Slide 10 – Place recommendations
• Slide 11 – Promotion recommendations
Your presentation cannot exceed 12 slides not including references.
Team Presentation Marking criterion as follows:
5 – Exceeds Expectations 3 – Meets Expectations 1 – Below Expectations
Professionalism of Presentation Presentation is well organized; thoughts & ideas logically connected through visual & verbal messages; audience engaged and highly interested Thoughts are articulated but logical connection point from point to point unclear Mumbles, audience has difficulty hearing’ confusing
Knowledge of Content Key points covered in depth; able to expand on areas as needed to insure audience engaged & learning Incorrect or insufficient information provided; some points glossed over Incorrect & insufficient information given
Completeness of Content All points covered and fully explained A few points missed or glossed over Incomplete information (numerous points missed)
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