module 5

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Capella University *

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701

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Marketing

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Apr 3, 2024

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This information is proprietary to Dr. Karen E. James. Any copying, posting, scanning, texting, or otherwise sharing is strictly forbidden. Application Forum Instructions – Module 5 Spring 2024 Submit to Module 5 Forum Originality Check prior to 11 pm on Sunday, February 18th. Post meeting 15% threshold must be copied and pasted to the forum and include final attached similarity report no later than Sunday, February 18th, at 11 pm. Reply to one peer due by Sunday, February 18th, at 11:55 pm Overview This forum continues the marketing plan that you began developing in Module 4’s forum for the product concept that incorporates insect protein/parts/flour. You may change decisions made in the pricing/product portion of last week’s assignment, but most of your focus this week will be to develop the distribution and marketing communications aspects of the marketing plan. Together, your decisions should create a consistent and cohesive plan in which decisions made in each area of the marketing mix complement one another. Preparing for the Assignment 1. Read chapter 8 of the Readings in Marketing Strategy (and reread chapter 7 as necessary). If you are distributing your product via Amazon, explore the information found at the link “ The Basics of Success: Understanding Amazon Advertising ”. 2. Download and read the Grading Rubric for the Module 5 Application Forum. 3. Attend office hours on Tuesday or watch the recorded session in case of questions. The Assignment Question 1: Begin with a paragraph that summarizes the key decisions you made previously with regard to the target market, the product/service, brand name(s) and its pricing and positioning. HIGHLIGHT any new information or changes that you have made, either based on feedback from your coach or in light of decisions you have made this week. This paragraph should identify 1) the type of product/service you are marketing; 2) its key benefits and points of differentations; 3) the BRAND name of the product (and company if not previously mentioned); 4) a short review of the target market, 5) your positioning strategy, and 6) the pricing strategy and your best estimate of the selling price (if selling through retailers, list

This information is proprietary to Dr. Karen E. James. Any copying, posting, scanning, texting, or otherwise sharing is strictly forbidden. both the price paid by the retailer and that paid by ultimate consumers), and 7) the launch date that the new product/service will be available for purchase by consumers. Question 2: Describe your distribution strategy and channels of distribution. Justify why you think your distribution strategy is better than the alternatives. Be specific in discussing geographic coverage or location, the number of stores, the specific retail chains, etc. Justify your decisions.  Describe your distribution strategy.  Describe the geographic scope of your distribution and the number of locations.  How will consumers find and buy your products?  Discuss the channels and intermediaries used to market products to consumers. What level of distribution intensity are you targeting (intensive, selective, exclusive) and why? Note that you will EITHER 1) sell via retailers (or a bakery) via brick and mortar stores, 2) sell via Amazon, or 3) sell through your own corporate website. o Will you use retailers? If so, which ones? Try to be specific as possible in naming known chains (e.g., Bass Pro Shops). Otherwise, specify the type of retailers (e.g., independent sporting goods stores). If you are creating a physical location for a bakery, state that as well. o Will you sell direct to consumers from your own business/corporate website? How, from your own website? How many people will need to be hired to handle sales, shipping, and product returns? o Will you sell online via Amazon? If so, will you use them for picking, packing, shipping, and returns, or will you fill the orders yourself from your own warehouse facility?  How does your distribution strategy create value for the customer?  Is there a potential for channel conflict among different intermediaries? What will you do to minimize conflict?  Is your distribution/supply chain strategy consistent with your positioning, and the product’s differentiation? Explain.  If selling through Amazon, describe the specific services that Amazon will provide. Will they simply send referrals to the company, or will they hold inventory, pick, pack, ship, and deal with returns? Question 3: Discuss your integrated marketing communications strategy in detail. Include your plans for advertising, social media, sales promotion, publicity, event marketing, sponsorship marketing, and personal selling. Creative advertising and media strategy. Provide in-depth, specific information on your advertising and media strategy and justify your choices. Review the media information from your research into your target marketing using the MRI+ database. (You might also

This information is proprietary to Dr. Karen E. James. Any copying, posting, scanning, texting, or otherwise sharing is strictly forbidden. wish to run some additional queries to see if your TM uses coupons, certain websites, etc.)  Describe your creative strategy. What type of brand image are you trying to create with your advertising? Does it fit with your positioning strategy and target market? Explain.  Describe your message strategy. What is the most important point that you are trying to communicate? Can you think of a slogan or tagline to include with your advertising?  What advertising media will you use? Advertising may include digital (website, banner ad, search, Facebook, etc.), magazine, TV or cable, radio, newspaper, outdoor, movie theatre, and other forms of paid advertising. Amazon offers several methods of paid promotion through its website for those who choose this distribution strategy.  Discuss the media schedule. What types of advertising will be used at various times of the year? Generally, more money is spent in the first month of product introduction. If your product/service is seasonal, this might also influence your pattern of advertising and spending. Make certain that you clearly delineate what is happening for each of the 12 months you will be marketing the product/service. Next, discuss the publicity strategy you will use to introduce your new product as well as any sponsorships or events.  What publicity efforts will you undertake?  When will they occur? Generally, publicity is very common when new products are introduced or immediately prior to making them available to the public.  Where will they be targeted – at what types of media or what publications? Justify your choices.  Describe sponsorships or events you’ve chosen to use to promote your product, be they charitable events, athletic events, local events, musical events, or other sponsorships.  Justify your event or sponsorship choice in terms of the event’s appeal to the target market, any additional benefits, and the cost of the sponsorship. Question 4: Consumer sales-oriented promotion strategy and personal selling strategy.  Discuss the consumer sales promotion (pull strategy) next.  What types of sales promotions will you use to target consumers? When and how long will each sales promotion be used? Generally, individual promotions last no longer than 30 days.  Be specific in explaining the promotion / deal and justify why you think the promotion will be successful. If using a coupon, for example, explain the type of coupon (e.g., instant pull off coupon), the face value, and how the coupons are distributed.  Personal selling strategy. If relevant, discuss the personal selling strategy used by the company to reach the ultimate consumer. This would be most relevant for bakeries or stand-alone company owned stores. If you are distributing through Amazon or retailers ignore this point. Channel/retailer targeted marketing communications strategy

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