Unit 1 Assignment: Marketing Strategy

You will only begin this assignment in this unit, completing Parts 13. You will turn these parts in together with Parts 46, which you will complete and submit in Unit 2.

No paper is due in Unit 1.

Your instructor will assign a business type or industry to each of you at the beginning of the unit.

The following Course Outcome is assessed in this assignment, due in Unit 2:

MT219-1: Summarize the basic components of a marketing strategy.

Introduction: Examine the four marketing strategies and read about the importance of doing viable marketing research before you begin planning strategy. Based on what you learn, you will begin this assignment by examining the mission statement, and then move on to address the situation analysis based on where you live. You will first address the background marketing research based on the business type that will be provided by your instructor.

Read the scenario and respond to the checklist items based on the reading and learning activities.

Scenario: Lee is the owner of Lees [business type selected by your instructor], which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business. You must use the industry selected by your instructor.

Checklist:

Summarize a marketing strategy for Lees business, addressing each part.

Part 1 Mission

Redefine Lees mission. Lees current mission is more of a product-oriented mission statement. For example, We sell flowers or We make pizza.

• Write a marketing-oriented mission statement for Lees business.

Part 2: Situation Analysis

Organization Strengths and Weaknesses:

• Describe methods that Lee could use to identify her internal strengths and weaknesses information. For example, some businesses use secret shoppers to identify an organizations strengths and weaknesses. Explain your response.
• Using sources like the U. S. Census Bureau, describe the demographics affecting Lees business in your area.
• How is technology being utilized in the assigned industry that might have a positive or negative impact on Lees business?
• Identify Lees direct and indirect competitors and her competitive advantage against her direct and non-direct competitors in the city nearest to where you live.
• Define the concept of sustainable competitive advantage and explain what advice you would give to Lee in her quest to build a sustainable competitive advantage.

Part 3: Marketing Objectives

• Set marketing plan objectives for Lees business (see p. 25 of your text).
• Identify at least two S.M.A.R.T. goals (i.e., specific, measurable, achievable, realistic (and relevant to the mission), and time-bounded).