Strategic Marketing Brief
This Project is a strategic marketing brief and summary presentation for a new product. Similar to a complete marketing plan, the brief includes topics such as the marketing mix and promotional mix. In contrast to a marketing plan, the strategic brief communicates these and other topics to a different audience. It addresses senior executives and investors rather than managers and frontline workers. As such, your brief will focus on
why your marketing organization is doing what it is doing, rather than the details of
what it is doing and
Although you will discuss tactical activities such as advertising and breakeven point, strive to communicate a high-level strategic perspective with your writing. To help gain that perspective in the context of marketing, be sure to watch the Week 2: PlayPosit, which discusses strategic leadership using marketing examples that have turned into goods, services, and ideas that are still in market today. As you watch the PlayPosit, focus on the question posed: Why does a product exist?
Begin by selecting a product and company to use as an example throughout the brief. By using one product and company, the research, organization, and presentation of your recommendations will be easier. Your product and company can be imaginary, or a business you would be interested in starting, or an existing product and company that are in market today. The product can be B2C or B2B, and the company can be any organizational structure. The product and company are not important, because they will merely serve as examples. That is to say, you’ll include the
what and the
how, but you’ll focus your writing about the
· Use Microsoft Word for all project draft submissions.
· Each section should be about one page in length, so each draft should be about two pages in length
Follow the prompts in the Outlines below to write a paper and create a summary presentation that discusses the following topics for your product and company. Note that you do not need to answer the question prompts in the Outlines below verbatim. The prompts are intended to serve as a guide for the types of information you should include for each respective section.
· Marketing Environment
· Buyer Behavior
Analyze the dynamics of the marketing environment for your company’s product.
· Summarize the marketing mix for your company’s product and explain which market orientation (or combination thereof) you will adopt in setting product strategy.
· Who is the most influential actor in the microenvironment for your company’s product and why?
· What is the most influential force in the macroenvironment for your company’s product and why?
Determine the purchase decision process for the buyer of your company’s product.
· What is the purchase process for your company’s product? Is it B2C or B2B? What stages of the buying process are most critical for the buyers of your product and why?
· What are the strongest buying influences on the purchasers of your company’s product, and how can you use an understanding of those influences on your buyers to a strategic advantage?
· Where does your company’s product fall on the diffusion of innovation curve, and what are the strategic implications of this on the marketing of your company’s product?