Marketing-cenario Marketing Congratulations. You have just been
Scenario MarketingCongratulations. You have just been named marketing manager of a major franchise. Your job will be to perform the daily tasks of a marketing manager.Liberty Tax ServiceÂ® – Taxes â provides tax service to both consumers and businesses.AssumptionsYour plan is to aggressively go after the consumer and business market creating dual revenue streams. Your marketing strategy, research marketing mix and customer relationship marketing will be different for both groups.In this scenario, you will be responsible for the following:Explain how marketing strategies influence marketing decisions. In addition you will be conducting the following tasks:â¢ Observing and analyzing market trends.â¢ Examining competitors’ products and services.â¢ Investigating ways of improving existing products and services, and increasing profitability.â¢ Identifying target markets and developing strategies to communicate with them.AssignmentThere are two parts to this Assignment be sure to complete both parts.Part 1: Write a brief paragraph that answers the following questions. (This should not be in Question/AnswerFormat).1. Which company did you choose as your focus in this Marketing Management Assignment? Where are thecompany’s headquarters located?2. What is the mission statement of the company you chose to study?3. The previous marketing manager developed an advertising campaign before the marketing strategy. Howcould this advertising campaign potentially create problems for the product?Part 2: You are making your first presentation to the CEO of the organization. Your goal is to complete thefollowing tasks for your consumer and business-to-business marketing strategy planning document:● Using the SMART acronym, list several objectives you wish to accomplish.● Discuss the customer targets (target market). Provide for the CEO a more specific description of whichcustomers you (the marketing manager) want to persuade to buy the product or service.● For each customer target the competitor targets must be identified. Which are the brands or companiesthat offer the most likely competition for that customer?● What do you see as the value proposition? Summarize into a single paragraph.o The customer.o The competitive targets.o The customerâs reason for buying your brand.● The value proposition forms the basis for the marketing mix. Describe your marketing mix for yourconsumer market and business-to-business market.● Discuss your competitive advantage â the strategic development of some basis on which customers willchoose a firmâs product or service over its competitorsâ.Examples:o Cost-based or price-based advantageo Quality-based or differentiation advantageo Perceived quality or brand-based advantage● The Product Life Cycle (PLC) is defined for a product category (not a particular brand) and illustrates thesales history of the category over time. The strategic options available to the marketing manager vary over the lifecycle, as does the importance of various marketing-mix elements. Although the PLC should not be followedreligiously because category characteristics can vary widely, it is a useful conceptual tool. Where do you see yourproduct on the PLC? What would be your strategy based on your response?● Thinking of your consumer market, how can you get current customers of the product or service to buy [MT450: Marketing Management]2more? Do the same for your business-to-business product or service.Provide a 3 page (APA formatted) marketing strategy plan paper with at least three supporting references thataddresses this Assignment. You should include at least one illustration which can be included in the body of yourpaper or appendix.
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