Our academic experts are ready and waiting to assist with any writing project you may have. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs.
GET A 40% DISCOUNT ON YOU FIRST ORDER
ORDER NOW DISCOUNT CODE >>>> WELCOME40
Unilever/Procter & Gamble Part Two
(60 Points)
Now we will evaluate the current marketing strategy, and consumers of your assigned product (questions 1-4). Based on your research in part 1 and your evaluation of their marketing strategy in questions 1-4, you will propose a growth opportunity for the company (questions 5 & 6). Your team has to research the consumers in the product category. All charts and graphs you provide have to include an interpretation. For this assignment, your team must create a PowerPoint deck. Decks should not exceed 30 slides.
- Evaluate the characteristics of the product category.
- What is the consumer decision-making process for this item/category? How much involvement is there in decision-making? (MKTG 11 Pages 90-106)
- Where does the product category fall in the product life cycle? (MKTG 11 Pages 202-205) Support your response with appropriate arguments. How does it impact the marketing mix and overall marketing objectives?
- Segmentation Strategies – Research and basic consumer visits to the retail environment can aid in addressing this question.
- How is the category segmented by need/benefits sought and usage rate?
- What consumer segment(s) is/are the companyfocused on in the product category?
- Does the company use a differentiated or undifferentiated targeting strategy? (Pages 146-148) Please explain and use examples.
- Who are the consumers of your product?
- What are the demographic segments of your product’s customers? Specifically, discuss age, gender, income, and family lifecycle.
- What are the psychographic segments of your product’s customers? Specifically, discuss motives and lifestyles.
- Based on your research above:
- Create a thorough SWOT analysis for your product. In the SWOT, you must identify an opportunity and a threat for at least 3 of the environmental factors. (Social, demographic, technological, economic, political and legal, competitive)
- What conclusions do you draw from the SWOT analysis?
- What actions should the company take to fix issues, or capitalize on opportunities?
- Based on your understanding of the industry, the product category and the company, as well as the target consumers and SWOT analysis, define a growth opportunity for your company. This can be a new category, a product within the category or even a service that is related. It should be something that is a natural outflow of your previous work. (Solves a problem, or capitalizes on an opportunity) Be sure your initiative is tied to your previous work and what you have reported about the environment, industry and category. Explain why your proposal works.
- Write a value proposition for your new product/initiative: (follow this format precisely)
For: (Target audience)
Who seek: (benefits sought)
We provide: (benefits provided)
Unlike competitors: (competitive advantage)
You can believe this because: (features, success, and testimony)
A value proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you. In a nutshell, value proposition is a clear statement that:
- Identifies the target audience
- Explains how your product solves customers’ problems or improves their situation (relevancy),
- Delivers specific benefits (quantified value),
- Tells the ideal customer why they should buy from you and not from the competition (unique differentiation or advantage).
- And explains why the consumer should believe this.