Explain how you plan to achieve competitive differentiation through creating customer value
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This week, you will be creating components of your capstone marketing plan assignment. You will then finish your plan in Week 5.
Using the company you selected for your marketing manager internship, you will complete a situation analysis with the goal of identifying a new product/service to develop your marketing plan against.
Create a Word document of three to four pages formatted to APA Style and includes at least one scholarly, peer-reviewed, or other credible resource (Links to an external site.) from the University of Arizona Global Campus library in addition to the course text.
In your paper,
Describe the selected company and brand and a brief history.
List the core products and services they offer.
Identify the key current competitors.
Complete a SWOT analysis (Links to an external site.).
Propose the product or service line you want to develop a marketing plan for.
Justify your proposal with a SWOT-based argument for why it warrants marketing investment.
Describe your core product, extended product, and the product concept.
Explain how you plan to achieve competitive differentiation through creating customer value in four areas:
The focus of your marketing plan can be a new product/service idea of your own or an existing product/service that you think deserves its own dedicated campaign. Just don’t pick something that you’ve already seen being actively marketed.
For example, after completing a SWOT analysis for McDonald’s, one might propose marketing new concepts like a McVeggie burger or an adult happy meal. Further afield, one might propose a whole new chain of pay-to-visit indoor McPlayground Centers. Or, relative to existing menu offerings, one might suggest a dedicated marketing campaign for say “burgers at breakfast” or after midnight snacking via the drive-through.
Learn about your brand and then let your imagination run wild. It can be a big idea that will appeal to many of their customers or a very targeted effort—you decide. You can always adjust your idea after getting instructor feedback.
To learn more about SWOT analysis and see as an example how it is applied to Starbucks, you may see the below resources:
Three Tips For A Better SWOT Analysis (Links to an external site.)
(Links to an external site.)Starbucks SWOT Analysis (Links to an external site.)
The Marketing Plan: Product Identification and SWOT Analy