marketing essay

Each student is to write an individual integrated marketing communications paper between 5-7 pages using Times New Roman, 11 fonts. The student picks a product and/or service, either new (one they plan to create) or a new version of an existing product. For instance, although doing a project on Pepsi is unacceptable, a project on fruit juice-based Pepsi would be acceptable because it is a new version of an existing product.

The paper will have the following sections: (1) product description, (2) consumer behavior, (3) competition, (4) segmentation profiles, (5) target market, (6) chosen positioning with a perceptual map, (7) integrated marketing communications strategies. The following paragraphs describe these seven sections.

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Within the product description section provide a very brief delineation of the product in a short paragraph (please avoid burdening the reader with too many details), and also outline the key benefits the product provides. Think of Maslow and Freud when it comes to sources of benefits.

Within the consumer behavior section think about how consumers make decisions (please utilize a consumer decision-making model). Focus on perception and motivations. Additionally, consider what attributes are most important within such product categories and how do consumers put forth information searches?

Within the competition section, define and describe the competitors at two key levels. First, consider primary-level completion. Delineate the members (or competitive alternatives) within the consumers evoke, or consideration sets. For instance, for Pepsi, it may be Coke and RC Cola, etc. Second, consider benefit-based competition. Identify the key benefits that your proposed product provides. Then, identify and evaluate competitors who provide the same benefits. For instance, for Pepsi, two benefits encompass hydration and caffeination. For hydration, tea, water, and juice brands/products serve as worthy competitors. Finally, describe the key advantages and attributes that each competitor provides?

When developing segmentation profiles, consider key bases of segmentation: benefits sought, demographic, psychographic, and behavioral. Each market should have multiple segments and each segment will include multiple criteria. Each segment must include benefits sought as a variable. For instance, within snack food segmentation you may integrate benefits, demographic, psychographic and behaviors (e.g., guilty snickers who eat to stop anxiety, tend to be young and rural, socially anxious and eat a lot at night and tend to consume potato chips and soft drinks).
In picking the target market, consider your competitive advantage and target the segment that is most appealing. Consider your unique selling proposition (what does your product have that is better and motivating for this group).

For the positioning section draw a perceptual map. Consider the key attributes that distinguish the already existing competitors, how the different segments fit onto your map and draw where your product will go onto the map. Consider your core advantage, competitive intensity, and segment demand when determining where your positioning will be on the perceptual map. This choice will guide the final section.

For your integrated marketing communications strategies, first develop 3 objectives corresponding to cognition, affect, and behavioral intentions, then outline how key IMC tools will be used to communicate your positioning to your chosen segment. Include the product’s name, the advertising theme, and other promotional. tools you will utilize. Provide brief examples of advertisements (tv, radio, billboard, etc), sales promotion, interactive media, mobile marketing, and social media, as well as public relations, and any other integrated marketing communications tools that are needed to communicate your positioning and to reach your 3 objectives of cognition, affect, and behavioral intentions

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