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your chosen product’s target market (potential buyers) the target market (potential buyers) for your chosen product to develop a persona. Specifically, address the following:
Conduct target market research to identify key demographic and psychographic characteristics.
Develop one persona that represents users of your chosen product. Use the Module Two Milestone Worksheet in your Soomo web text to create your persona.
publish this portion of the project as part of the Module Two milestone, and after you receive feedback from your instructor, revise your persona as needed for inclusion in your project submission.
Promotion: Recommend marketing communication channels for your chosen product. Specifically, address the following:
Recommend two marketing communication channels for your chosen product. Briefly describe each and explain why they are appropriate based on your persona.
publish this portion of the project as part of the Module Four milestone, and after you receive feedback from your instructor, revise your marketing communication channel selections as needed for inclusion in your project submission.
Price: Consider how pricing for your chosen product should be set. Specifically, address the following:
Explain how one of the following is used to determine the approach to pricing for any offer.
Company profitability
Competitor pricing
Target market price sensitivity
Identify which one of the four basic pricing strategies you feel is most appropriate for your chosen product and persona from the Module Two milestone. Describe the general advantages and drawbacks of that pricing strategy.
publish this portion of the project as part of the Module Four milestone, and after you receive feedback from your instructor, revise your pricing strategy selection as needed for inclusion in your project submission.
Place (Distribution Channels): Consider how decisions on distribution channels should be made. Specifically, address the following:
Describe how one recent change in the marketplace (e.g., purchasing habits or social, economic, and political events) has affected the distribution of products.
Recommend one potential distribution channel for your chosen product and explain why it is appropriate, given your persona.
publish this portion of the project as part of the Module Five milestone, and after you receive feedback from your instructor, revise your distribution channel selection as needed for inclusion in your project submission.
Product: Identify considerations for how your chosen product should be marketed. Specifically, address the following:
Explain, in one to two paragraphs, how your chosen product should be marketed about meeting the needs and wants of your persona (e.g., the features and benefits of your chosen product that directly address your persona’s needs and wants).
Consider how a product you regularly purchase is marketed in terms of consumer needs and wants. What is the marketing message, and what other methods are used to convey the benefits of the product? Use this as a guide to describe how you would suggest marketing your chosen product to your persona.
Describe, in one to two paragraphs, how bringing this product to the marketplace can help support and build the company’s brand.
Describe the Chocolate Bliss brand based on the scenario. Explain how offering your chosen product is in alignment with the brand, and how bringing the product to the marketplace will help the company increase awareness of its brand.
Evaluation: Identify how you would evaluate the effectiveness of the marketing plan. Keep in mind that you need to collect data on the target market and the competition.
Identify two specific quantitative data-collection tools you should use and explain, in two to three paragraphs, how they can help you evaluate the marketing plan. Quantitative data comes in the form of numbers.
Identify two specific qualitative data-collection tools you should use and explain, in two to three paragraphs, how they can help you evaluate the marketing plan. Qualitative data comes in the form of words and sentences.
What to Submit
To complete this project, you must submit the following:
Template: Marketing Plan Strategy Template Word Document
Submit this template as a Word document. Your submission should be no more than 4 pages in length. Sources should be cited according to APA style.
Project Rubric
Criteria Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value
Product Selection Clearly states the product selection from among the options provided N/A Shows progress toward proficiency, but with errors or omissions; areas for improvement may include naming a product that is an option in the project Does not attempt criterion 2
Persona (Target Market): Demographic Characteristics Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Develops a logical descriiption of the required demographic characteristics of the target market based on information from appropriate research sources Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing more accurate or complete listings of demographic characteristics Does not attempt criterion 5
Persona (Target Market): Psychographic Characteristics Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Develops a logical descriiption of the required psychographic characteristics of the target market based on information from appropriate research sources Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing more accurate or complete listings of psychographic characteristics Does not attempt criterion 5
Persona (Target Market): Persona Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Creates a plausible persona that includes all of the required elements Shows progress toward proficiency, but with errors or omissions; areas for improvement may include creating a more logical persona based on the research Does not attempt criterion 10
Promotion: Two Marketing Communication Channels Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Accurately describes two marketing communication channels and provides a logical explanation of why they are appropriate given the persona Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more accurate descriiption of the marketing communication channels, or a more cogent explanation of why the channels are appropriate for the persona Does not attempt criterion 10
Price: Approach to Pricing Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Clearly explains one of the factors used to determine product pricing Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more complete explanation of the chosen factor’s influence on price Does not attempt criterion 10
Price: Pricing Strategies Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Selects a pricing strategy appropriate for the product and persona and accurately describes its advantages and drawbacks Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more accurate or thorough explanation of the pricing strategy, including advantages and drawbacks of the selected strategy, or providing a more cogent explanation as to why the pricing strategy is appropriate, given the persona Does not attempt criterion 10
Place (Distribution Channels): Recent Change in the Marketplace Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Clearly explains a recent change in the marketplace and how it has affected the distribution of products Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more detailed descriiption of the recent change or a more logical connection between the change and how it affected the distribution of products Does not attempt criterion 10
Place (Distribution Channels): Distribution Channel Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Recommends a distribution channel and provides a logical explanation as to why it is appropriate for given the persona Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more accurate or thorough explanation of the distribution channel or a more cogent explanation of why the distribution channel is appropriate, given the persona Does not attempt criterion 10
Product: Marketed Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Clearly explains ideas for how the product should be marketed that are appropriate given the persona Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more thorough explanation of ideas for marketing the product or a more logical connection between the marketing ideas and the persona’s needs and wants Does not attempt criterion 5
Product: Brand Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Provides a cogent descriiption of how the product can support and build the brand Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more convincing descriiption of how the product can support and build the brand Does not attempt criterion 5
Evaluation: Quantitative Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Selects two quantitative data-collection tools and clearly explains how they can be used to evaluate the marketing plan Shows progress toward proficiency, but with errors or omissions; areas for improvement may include recommending a more appropriate tool selection or providing a more thorough descriiption of how the data collected can be used for evaluation Does not attempt criterion 5
Evaluation: Qualitative Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Selects two qualitative data-collection tools and clearly explains how they can be used to evaluate the marketing plan Shows progress toward proficiency, but with errors or omissions; areas for improvement may include recommending a more appropriate tool selection or a more thorough descriiption of how the data collected can be used for evaluation Does not attempt criterion 5
Articulation of Response Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner and conveys meaning with correct grammar, sentence structure, and spelling, demonstrating an understanding of audience and purpose Shows progress toward proficiency, but with errors in grammar, sentence structure, and spelling, negatively impacting readability Submission has critical errors in grammar, sentence structure, and spelling, preventing understanding of ideas 4
Citations and Attributions Uses citations for ideas requiring attribution, with few or no minor errors Uses citations for ideas requiring attribution, with consistent minor errors Uses citations for ideas requiring attribution, with major errors Does not use citations for ideas requiring attribution 4
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