Download marketing management

Name: _ryan winston______________________
Chapter 1 – Group Project
You are going to create a NEW company. The company should sell a product/service that you
understand and be in an industry that you are familiar with. However, I do not want to
discourage you from being creative. If you are hesitant if the company you want to create is
acceptable please ask me. After getting the “ok” from Mr. Monroe, you are going to design a
marketing strategy based on many of the concepts and strategies discussed in Chapter 1.
The following is a list of each section of the project and minimum requirements:
Part 1 – Basic
Introduction
Create your company, name, and mission statement.
Include a description of the industry your company is in
and what product or service company will be selling.
Part 2 – Defining your Identify your customers’ needs, wants and demands.
Product and Customer What type of needs is your company trying to satisfy?
Needs, Wants and
What will be your customers’ needs, wants and
Demands.
demands? Clearly identify and define how your market
offerings will meet your customers’ needs, wants and
demands. Remember that often companies are selling
more than just a product or service, but an experience.
Part 3 – Define Your What are your customers’ demographics? WHY? Think
Customers
AGE, INCOME, GENDER, EDUCATION, ETHNICITY,
OCCUPATION. Using demographics provide a detailed
explanation of your customers who are “butterflies”,
“strangers”, “true friends”, and “Barnacles”.
Part 4 – Defining your Create your value proposition and identify which of the
Marketing Strategy marketing orientation strategies will best fit the
product and/or service your company is selling. You are
not confined to only using one strategy and most likely
will choose to use a combination of different strategies
to best serve your customers.
Part 5 – Building
We know that all marketers do not just want to satisfy
Strong Relationships their customers, but create customer delight. Describe
how your company will manage customer expectations
and product performance to maximize customer
satisfaction. Explain and identify how your company will
reach out to customers to forge, manage and deepen
customer relationships.
POINTS – 10
POINTS – 20
POINTS – 20
POINTS – 20
POINTS – 20
Part 6 – Capturing the Summarize how your company created value for its
Value
customers. Finally, explain how you are going to capture
the value your company created for your different
segments of customers. Capturing value has to do with
how much money you are going to sell your product for
and why the consumer will pay that much.
POINTS – 10
This is a group project and will count for 20% of your 1st marking period grade.
Do a great job, be creative and have some fun with it!
The format for this project will be a Pecha Kucha Hybrid – Please reference the Course
Website for examples and an explanation.