SLP4: The Marketing Plan
You will create a final a marketing project using assignments you created during the class. It is not necessary to create new content other than an introduction and conclusion for the project; but you are required to address comments provided by your faculty member and make updates accordingly.
Using the template provided, complete the comprehensive SLP for MKT301. Since you have a series of different reference lists for each assignment, youll need to combine them for this submission.
SLP4: The Marketing Plan
Product/Service Overview (used in your discussions)
Module 1 Case:
Industry Research
Using articles predominately from the Trident Online Librarys full-text databases (such as Academic Search Complete, Business Source Complete and/or ProQuest Central, conduct secondary research on the industry in which your chosen product/service operates.
From your research and what you have learned in the readings, identify three (3) marketing environmental factors that will impact this type of product/service. Describe and explain the chosen marketing factors and discuss general market implications.
Module 1 SLP:
Real-World Application
Analyze why & how each of the three marketing factors will impact the chosen product/service.
Explore strategies to overcome the threats and/or capitalize on opportunities to product life cycle with regard to your target product/service. Be sure to consider branding.
Module 2 Discussion:
Week 1 Discussion Post
Discuss the qualities that make this product/service new to the marketplace and the rationale for your decision to pursue the concept.
Week 2 Discussion Post
Identify your target market. Provide a specific demographic profile and rationale for this decision. Consider the size of the market and its purchasing power.
A source that may help you: The US Census Bureau’s American Fact Finder. Research is required to back-up your selection and to provide statistics to show that it is a viable market.
Module 2 Case:
Getting Your Product into the Hands of Consumers
Channel Levels
Select either direct or indirect distribution by writing about the pros and cons of both methods. (Research support is required.)
Needs of Target Market
Analyze your target market’s needs. Explain what you know about your target market and what they want from a channel of distribution. (Research support is required.)
Digital Commerce
Is your product/service conducive to digital distribution? You may wish to research a competitive product or service to see if it has a strong digital presence. Or you can engage in general research about going digital. (Research support is required.)
Module 2 SLP:
Buyer Behavior Application
Apply the model of consumer behavior (Exhibit 11 on page 89 of your textbook) to the product/service you selected in Module 1. Explain how the model affect the purchase process as it relates to the product/service.
Providing a list of the steps or a graphic of the model is not adequate, you should explain how the process works in the real world using your own words supported by research.
Module 3 Case:
Communications Channel 1: Digital Marketing
Why was it chosen? Explain how it is a good fit for your target market.
Advantages/drawbacks (research required)
Detail the media plan: What types of digital marketing will be used? Why?
Communications Channel 2
Why was it chosen? Explain how it is a good fit for your target market.
Advantages/drawbacks (research required)
Detail the media plan: What aspects of the marketing communications channel will be used? Why?
Communications Channel 3
Why was it chosen? Explain how it is a good fit for your target market.
Advantages/drawbacks (research required)
Detail the media plan: What aspects of the marketing communications channel will be used? Why?
Module 3 SLP:
Campaign Theme
Describe a campaign theme that can be applied to your product or service. Provide rationale for the theme based on decisions made in earlier assignments.
Traditional Media Ads (based on the choices made in this weeks case)
Develop the creative for two of the following: print, TV, radio, direct mail, outdoor. Describe the following.
Headline/Tag Line for ad. This must be original and written by you.
At least one paragraph of copy to the used in ad. This must be original and written by you.
Examples of visual or multimedia elements that you would like to see in the chosen ad. You do not have to create graphics; you can link to examples used by other companies.
Electronic Media (based on the choices made in this weeks case)
Develop the creative for one electronic media campaign. Describe the following:
Headline/Tag Line for ad. This must be original and written by you.
At least one paragraph of copy to the used in ad. This must be original and written by you.
Examples of visual or multimedia elements that you would like to see in the chosen ad. You do not have to create graphics; you can link to examples used by other companies.
Module 4 Discussion:
Show Me the Money. Lets Talk Pricing.
Week 1 Discussion Post
Develop a pricing strategy for your chosen product/service.
Discuss what factors will impact your pricing strategy.
What pricing method would you use for your product/service and why?
These two questions require research using the textbook. No other resources are required.
Week 2 Discussion Post
Corporate Social Responsibility has risen in popularity and stature in the last decade. Even small companies communicate ways that they give back to their communities
Share a viable social responsible project that can be applied to your business. Explain why it would be a good fit for the culture of your organization and the community you serve.
Use the attached APA-formatted template (MKT301 SLP4) to create your submission.
SLP Assignment Expectations
Your submission will include:
Trident University Internationals cover page
A paper with APA citations (2-3 sentence introduction, body, 2-3 sentence conclusion)
The reference list page in APA format
The entire paper will vary in length based on what was previously submitted.
Grading Note:
At Trident University International, rubrics are used for grading. These rubrics specify the points available for each component of an assignment. Points are earned based on the level of the work submitted. The SLP rubric can be viewed under the Assessments menu at the top of the page.
Module 2 Discussion Week 1 Post
I product that I choose in my initial discussion post was the bulletproof vest. The reason I chose this item is that number one I serve in the military and this is our go-to item when we are ready to engage in any type of training or real-world event. This vest saves lives and is considered an essential piece of equipment to use in the military as well as many law enforcement officer, therefore, its demand will always be of relevance.
Although this product isn’t new we can say there are multiple variables that have come about over the years. The most recent bulletproof vest that entered the military was the Generation II IOTV; which weighs about 26lbs. This vest made its way into the force and it was a breath of fresh air amongst the Troopers. IT replaced a heavy and bulky item that many were extremely tired of wearing but wore as it saved lives. This new item did the same but was better fitted and more compact. The bulletproof vest has not just been supporting the military but yet our local law enforcement. As the years have gone by this vest have truly evolved and has saved multiple lives just. This product has and will continue to be of interest to be since it is something that has protected me throughout my entire career and will continue to support the lives of many Troopers that follow me.
https://www.army.mil/article/184156/new_soldier_armor_weighs_less_offers_more_options
Module 2 Discussion Week 2 Post
As previously mentioned the product I chose was the bulletproof vest. The market for the merchandise has grown given recent events within the United States of America and even abroad. Which in turn increased the target market from the one percent of military personnel and almost three percent of law enforcement and also almost every home. These are just numbers that reflect the American market and not the global market then it would be a more significant increase in these numbers. The market grew tremendously from the vest and plate carriers to backpacks and briefcases. Furthermore, news stations continually focus on the negative news, these situational and external influencers will assist and influence the buyers behavior.
Furthermore, the internal factor will impact those who are personally affected by gun violence. Moreover, with the police brutality situations focusing more on a demographic profile of lower-income personnel susceptible to resort to criminal activities. The target market for body armor companies will continue to increase if the violence continues. For these companies, its a never-ending cycle of violence so they will always have a target market. It can be those that use or abuse this type of merchandise, but they want, and need will still be around.
Reference
Burnett, J., Introducing Marketing. Retrieved from https://open.umn.edu/opentextbooks/BookDetail.aspx?bookId=388Pub Date: 2011 ISBN 13: Publisher: BCcampus
Banks, D., Hendrix, J., Hickman, M., Kyckelhahn, T., National Sources of Law Enforcement Employment Data. (2016). Retrieved fromhttps://www.bjs.gov/content/pub/pdf/nsleed.pdf
Frankfurt School of Finance & Management (Ed.). (2016). The importance of studying consumer behavior. Retrieved fromhttps://www.youtube.com/watch?v=v1q1nnPCcKw Module 4 Week 1 Post
All through this course, I have examined the significance of buying body armorer to secure loved ones. Subsequent to investigating the content gave estimating these impenetrable knapsacks, external articles of clothing, and satchels will all be a mystery. “In spite of the fact that settling on the evaluating choice is generally an advertising choice, making it accurately requires a comprehension of both the client and society’s perspective on cost too” (Burnett, J., 2011). Hence, I accept we could without much of a stretch sell these things at a sensible and reasonable cost for all staff. Given the ongoing occasions of brutality in schools, cinemas and working environments these things should clear retires with no postponements.
Moreover, we will get a good deal on promoting this thing since we could utilize the web-based social networking stage to showcase our product. Consistently we should guarantee to remember the client’s perspective on the cost just as the opposition. Furthermore, we can provide food for our plans for the individual client base. Which means those clients appearing to be in vogue, we can stamp those things up on account of the models. In this manner, I would choose the nonprice rivalry technique for building up my evaluating procedure. Since my item is comfort and needs transporting it will ease any concerns my clients would have on how rapidly they get their items.
In addition, our utilization of the web-based life stage will diminish the showcasing cost and arrive at more clients on a worldwide scale. In addition, our choice to tweak costs towards the diverse client base could increase the value of our item. At last, I accept these estimating technique strategies will guarantee 100 percent benefit for the organization and cause our clients to feel shielded in their everyday lives.
Module 4 Week 2 Post
For this course, I have been working with body armor as my essential item to support my client base. Concerning obligation and applying a specific task to my enterprise I would need to choose the “body armor of god venture.” But rather for my effort administration, I would give utilized body armor to those groups of lower salary neighborhoods that can’t bear to buy these things. An occasion like this would be minimal effort to me since the military for the most part auctions these things at barters for little an incentive because of the reality they are past their time span of usability that the Department of Defense has set up for its officers to utilize the things. Along these lines, allowed me a chance to exploit this product to arrive at numerous in the network.
Also, I would give out the utilized bulletproof backpack to kids that live in gang-related and invaded neighborhoods. Besides, I would likewise lead a weapon buyback program since I could utilize those guns and soften down the metal segments and utilize those as side body armor plates for explicit vests or packs. At long last, I accept these two socially dependable ventures would profit my organization as well as the network I serve. 1
Running head: MARKETING ENVIRONMENT: BULLETPROOF VEST
Trident University
Brenda Andrade
Module 1 Case 1 Assignment: Marketing Environment: Bulletproof Vest
MKT 301: Principles of Marketing
Professor: Dr. Gordon Leichter
2 July 2020
Marketing Environment: Bulletproof Vest
Understanding the marketing dynamics is an essential practice that a business needs to consider concerning the importance of the training. The method comes with the application of the correct skeptics based on the changing expectations of the market. The bulletproof vest is a unique product that appeals to the security sector. The protection of law enforcement agencies and specified people that may be targeted for criminals is an important activity. The industry requires the production of top-notch products that meets the expectations. A wrong product may lead to failure in the protection of human life. Various factors must be investigated to determine the correct set of practices that needs to be put in place to encourage positive activities. The paper examines the financial, interior, and exterior environmental factors about the Bulletproof industry.
Dynamics of the Economic Background
The financial environment of the bulletproof industry is highly dynamic. This is based on the fact that it operates in a unique environment that needs the correct applications of environmental skeptics to be fully competent within the complicated industry. The aspect involves the significant capital investment that engages in the production of the bulletproof vest. The vest requires significant capital because its output is a timely process that requires the necessary resources (Wetherly & Otter, 2014). The initial capital of investment is quite large. It is the dominant factor that makes most investors fear to invest in the industry. Ideally, the issue affects the ability of the company to source for capital from other stakeholders. Lack of proper planning may lead to the creation of a financial problem if the company fails to take appropriate caution.
The economic environment of the company faces minimal investors. The lack of many players within the sector is the contributing factor behind the issue. The company’s source of capital is the profits that the company generates from the sales (Bailey, 1999). Budget is a critical financial issue that determines the company’s success within the industry (Kaarbe, Gooderham & Nrreklit, 2016). It is a factor that is promoted by the adoption of positive practices that reflects on the interest of the market in a positive way. The training comes with the approval of positive ideals that explain the market’s ability to expand and embrace the products being distributed fully. The financial environment is essential as it determines the future of the company.
Internal Environmental Dynamics
The internal environment factors are vital issues that concern the management practices of the company. It is evident that the production of quality bullet proved is the clear determinant of the future company positions in terms of operations and other essential practices that needs to be fully respected when the interest of the market comes in place (Bailey, 1999). The environment entails the production department’s observation to ensure that quality products are produced regularly (Wetherly & Otter, 2014). The company’s interdepartmental relationships also play a particular part as they determine the direction the company is likely to take by the attainment of the company goals. The leadership design applied by the top management also plays a vital part in determining the directional framework that the company is likely to take to remain dominant within the market. Therefore, the practice is critical in creating positive organizational practices that determine the company’s success within the market.
External Environmental Aspects
The exterior environmental factors are essential issues that the company needs to consider. The relationship with the suppliers is a vital issue of concern. The aspect involves logistical processes and procurement. The suppliers need to be paid on time to ensure that the quality distribution of products continues taking place within the market. It was promoting the existence of positive ideals. The company needs to observe corporate social responsibility to the community (Kaarbe, Gooderham & Nrreklit, 2016). These mean that it is essential that the company participates in community development. The relationship that the company has with its customers is vital. It plays a crucial part in the event of customer loyalty and the creation of a positive brand image within the market (Burnet, 2011). The measure comes with the promotion of positive ideals that reflects on the interest of the market in a positive way.
Conclusion
In summary, the paper investigates the financial, interior, and exterior environmental factors about the bulletproof industry. The economic environment of the bulletproof sector is highly dynamic. This is based on the fact that it operates in a unique environment that needs the correct applications of environmental skeptics for it to be fully competent within the complicated industry. The economic climate of the company faces minimal investors. The lack of many players within the sector is the contributing factor behind the issue. The source of capital for the company is the profits that the company generates from sales. The exterior environmental factors are essential issues that the company needs to consider. The relationship with the suppliers is a crucial issue of concern. The aspect involves logistical processes and procurement. The internal environment factors are vital issues that concern the management practices of the company.
References
Bailey, J. (1999).Cheap Shots: How Marketing Ploys For Bulletproof Vests Take Aim at Police — Makers Cast Doubt on Rivals, Even Though Standards For Safety Are Uniform — Worry Costs a Sergeant Sleep
Burnett, J. (2011). Introducing Marketing.Introducing Marketing.Retrieved from
https://tlc.trident.edu/content/enforced/168766-MKT301-2020JUN29FT-2/Introducing%20Marketing%20chapters/Introducing%20Marketing-Chapter%202.%20Understanding%20and%20approaching%20the%20market.pdf?_&d2lSessionVal=okuD3AoCPNkjzU5qYcrUrQvx1&ou=168766
Kaarbe, K., Gooderham, P. N., & Nrreklit, H. (2016).Managing in dynamic business environments: Between control and autonomy.
Wetherly, P., & Otter, D. (2014).The business environment: Themes and issues in a globalizing world.
Youtube (2014) Value Propositions Canvas Explained. Retrieved from
https://www.youtube.com/watch?v=m6wTQPZV2VY Running head: APPLICATION OF THE MARKETING ENVIRONMENT
Trident University
Brenda Andrade
Module 1 SLP 1 Assignment: Application of the Marketing Environment
MKT 301: Power Influence and Persuasion
Professor: Dr. Gordon Leichter
2 July 2020
Marketing Environment Application
Analyze why & how each of the three marketing factors will impact the chosen product/service.
The real-world application of marketing environmental factors plays a crucial role in determining the success of the company. The financial, environmental factor is a positive practice that comes with appropriate company practice. Having a reliable source of capital from the sales enables the company to expand its practices on a global level (Wetherly & Otter, 2014). The other important factor is that proper budgeting allows the company to utilize the available financial resources to its benefits. This enables the company to increase its production base and ensure that the demand and supply of the market are met on a timely basis.
The internal environmental factor of the company is a critical issue that needs to be positively addressed. This is based on the deals with complicated practices that involve management. The correct interdepartmental collaborations are likely to lead to the success of the company goals in terms of sales and expansion (Kaarbe, Gooderham & Nrreklit, 2016). The effective management of the employees by applying the correct leadership practices is the contributing factor behind the creation of appositive management practices. The factor leads to increased employee motivation that is likely to work for the company’s interest in terms of expansion and other relevant methods.
The exterior environment of the company is a critical issue that determines the success of the company operations. The bulletproof industry is a dynamic sector that depends on reliability and dependability. In this case, the supplier relationship plays an integral part in ensuring that the production of quality products is retained positively. It is a measure that leads to the promotion of positive ideals that surround the company’s ability to continue the production of quality products (Wetherly & Otter, 2014). Corporate social responsibility creates a positive image for the company leading to brand loyalty among customers.
Explore strategies to overcome the threats or capitalize on opportunities to product life cycle concerning your target product/service. Be sure to consider branding
The threats that the company faces comes from the new entrants within the industry. This affects the company’s ability to remain fully efficient, as the market would have various alternatives. The threats its appropriately met through the production of quality products within the market (Kaarbe, Gooderham & Nrreklit, 2016). This is a positive practice that involves applying positive ideals that focus on edging out the competition in a fairway. Pricing is also an essential factor that the company needs to place under consideration. This is based on the fact that the practice involves a positive reflection of ideas that reflect on the ability of the market to remain entirely dependent on the company. The setting up of fair pricing edges out the new entrants and the current competition.
Opportunity identification is a critical practice that the company’s market team needs to be keen on identifying. The method involves conducting market research on customers to understand their expectations. The utilization of their expectations is an opportunity that the management needs to be keen on capitalizing on. It is an essential practice that ensures that the bulletproofs being produced are entirely satisfactory and meet the market’s expectations positively (Wetherly & Otter, 2014). It is a critical move that determines the favorable position of the company within the dynamic industry. The focus on the strategy comes with interdepartmental coordination that the management needs to enhance to ensure that it remains effectual in its basic operations within the market.
References
Wetherly, P., & Otter, D. (2014).The business environment: Themes and issues in a globalizing world.
Kaarbe, K., Gooderham, P. N., & Nrreklit, H. (2016).Managing in dynamic business environments: Between control and autonomy. 1
Running head: PRINCIPLES OF MARKETING MODULE 3 CASE 3
Trident University
Brenda Andrade
Module 3 Case 3 Assignment
MKT 301: Principles of Marketing
Professor: Dr. Gordon Leichter
2 August 2020
Principles of Marketing Module 3 Case 3
Product marketing is one of the most effective methods that a business or company can use to promote and maintain high sales. This is due to its ability to build and sustain consumer awareness. In the market today, businesses can use different marketing techniques to reach out to consumers and create brand awareness. The following are some communication channels that can be used to market products and services used in marketing bulletproof vests.
Digital Marketing
Digital marketing is a communication method that entails the use of the internet and digital devices like computers, mobile phones, laptops, tablets in collaboration with digital platforms available like emails and social media to help reach out to consumers. Digital marketing has been selected because it is one of the most effective communication methods, especially when the world is in the digital era. With all the people on different social media platforms and making use of digital devices, it is possible to reach out to the highest number of people reasonable (Bostanshirin, 2014). Secondly, It is cost-effective, reliable, and flexible in the sense that different messages can be conveyed using different styles. At the same time, even though not all people pay attention to digital marketing products, some also confuse. In this case, the bulletproof vest would sue social media where a single post with clear information would be posted daily to offer consumers a chance to go through the post and make comments or inquiries.
Sales Promotion
The communication was selected due to its ability to get into contact with the consumers and understand their mood, feelings, and opinions about the product. The method is highly effective because it reaches out to a high number of people at a go. The consumers get to learn directly from the company employees about the product, and even demonstrations’ can be done (Yazdanifard, 2015). However, it is costly and time-demanding for the company, something that affects overall sales and revenues. For the sales promotions, the company to seek for a caravan and go to different locations where roadshows would be done as consumers would be given discounted prices or a buy two gets one free type of sales promotion.
Broadcast Advertising (TV, radio)
The broadcast advertising method was selected because almost all US families have one or more television sets and radios. This is to means that it is an effective method that can be useful in reaching out to all consumers. It is a method that allows images to be captured, and demonstrations have done, especially television (Sama, 2019). Nevertheless, it is costly and requires proper timing, which is the peak time of different broadcasting companies. It is hard to predict method since one cannot be sure whether the advert has been viewed or not as there is no channel through which consumers can respond to the company. However, this method can be applied by ensuring that the product is often aired during peak hours and less regularly for people who are at home or places they can watch television and listen to radio during off-peak hours (Sama, 2019). This is because all clients, irrespective of their work schedule, are essential.
Conclusion
Marketing communication tools and channels are essential as they help share information about a product or service like the bulletproof vest has proven it. However, of importance to note is that all the methods available have their benefits and challenges. A company should work with the channels that have benefits that outweigh challenges for best marketing outcomes.
References
Bostanshirin, S. (2014, September). Online marketing: challenges and opportunities. In Proceedings of SOCIOINT14-International Conference on Social Sciences and Humanities, Istanbul, September (pp. 8-10).
Sama, R. (2019). Impact of Media Advertisements on Consumer Behaviour. Journal of Creative Communications, 14(1), 54-68.
Yazdanifard, R. (2015). The review of how sales promotion changes the consumer’s perception and their purchasing behavior of a product. Global Journal of Management And Business Research. 1
Running head: PRINCIPLES OF MARKETING MODULE 2 CASE 2
Trident University
Brenda Andrade
Module 2 Case 2 Assignment: Principles of Marketing Module 2 Case 2
MKT 301: Principles of Marketing
Professor: Dr. Gordon Leichter
28 July 2020
Principles of Marketing Module 2 Case 2
Marketing is the process of attracting new customers and managing profitable relationships by delivering satisfaction. In a successful business plan, effective marketing is vital, and some principles accompany it (Singh, 2016). The laws are price, product, place, and promotion. These strategies involve the integration of market strategy and proper implementation of the policies. This paper seeks to develop a distribution system of bulletproof vests.
Channel levels
A bulletproof vest is an affair that protects the body from knives, bullets, and bomb explosions. The garment is made of laminated fibers and woven layers and ballistic plates that provide extra protection (Singh, 2016). The marketing demand of the bulletproof vest is driven by a rapid increase in internal and external attacks. Commercial security is also raising concerns that stimulate bulletproof vests. The intermediate marketing distribution between the producer, manufacture, and consumers is the channel level. The role of intermediaries is to eliminate the distance between the two parties. There are two types of channel levels, which are direct and indirect channels.
On the right channel level, the manufacturing market the goods to the consumers directly instead of going through the intermediaries. This level is also known as zero levels in indirect channels; the intermediaries help the manufacture to over the goods from the production place to the consumer (Mubarak, 2015). The Indirect channel is further subdivided into other levels, which are one two and three. In level one channel, goods move from the manufacture to the retailer directly instead of the wholesalers. This method used to market fast-moving consumer goods. The two-level pathway involves the products moving from the production to the wholesaler. The wholesaler purchases the goods in bulk and then sell it to the retailers but in small quantities. The consumers then get the product from the retailer. Finally, there is a three-level channel that encompasses an agent. The agent reduces the distance between the wholesaler and the manufacturer. This method is used in companies that cannot contact the wholesalers directly.
Bulletproof vests are distributed by the indirect channel method. In the direct channel, there are pros and cons. One of the advantages is that the records about the customer’s habits are collected. Profits are not shared among the intermediaries, which increases productivity (Mubarak, 2015). The challenge of a direct channel is that inadequate network and inefficient potential consumers. In the indirect pathway, the product is readily available. There is also an avoidance of the complexity of managing distribution logistics. However, the channel has cons that involve the distance between the manufacture and the consumer. An intermediary’s presence translates to an increase in time taken for the product to reach the consumer. It is difficult to identify the brand loyalty. This is because there is no direct interaction with the customers.
Needs of the Target Market
When marketing bulletproof vests, quality products are significant for the fulfillment of the target market, the bulletproof market is fragmented, with many suppliers selling to the militaries and enforcement agencies. The target market of bulletproof vests is military and security agencies. The globe has witnessed a high number of conflicts between various societies. The rising tension between the borders has created demand in the target market (Singh, 2016). Due to corruption, non-state organizations help terrorists to acquire bulletproof vests illegally.
In every marketing sector, customer satisfaction is critical. The need for the target market has led to significant advancements in bulletproof vests. Earlier, the garment was made of synthetic fiber woven into fabric known as Kevlar (Singh, 2016). The bulletproofs made of Kevlar used to be good until some complained that the vest causes some bullet injuries in some cases. Therefore the manufactures started using graphene, which is a layer of carbon atoms combined with honeycombs. The material is lighter and two hundred times stronger than steel and has improved customer fulfilments.
Digital Commerce
