14 Sep Overview Using the same hypothetical company from Part A: Your Marketing Plan, for this assignment, you will

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PART B: MARKETING PLAN 7

Part B: ABC Marketing Plan (Change to your name of business here)

Your Name

MKT500 Marketing Management Strayer University

Dr. Lisa Amans

Date submitted

Introduction (note this is not bold)

Describe or list the feedback you received on Part A of your marketing plan. Do not just list the feedback. Explain how you will use the feedback to improve your plan.

Next, re-introduce your company you shared in Part A.

Lastly, review what you will share: branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.

Branding Strategy

Write an introduction here (minimum of three sentences). Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension. For each of these sections below, provide rationale. Each section should be a minimum of three sentences.

Brand Name

Text starts here, provide rationale (minimum of three sentences).

Logo

Text starts here (do not start with an image of your logo, describe first); provide rationale (minimum of three sentences). Relay what the logo means, example Nike’s swoosh logo. If you use an image of a logo, make sure you use APA formatting (labeled Figure 1 include description per APA). Example below:

Figure 1. Your company name logo and short descrption.

Slogan

Text starts here, (do not start with your slogan, describe first); provide rationale (minimum of three sentences).

Brand Extension

Text starts here, provide rationale (minimum of three sentences).

Primary and Secondary Target Markets

Determine the primary and secondary target markets for your company. Thoroughly include the demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile, professional profile, geographic profile, and any other segmentation variable you deem necessary. Considerations for your target markets should be age, lifestyle values, attitudes, wants and needs, gender, number of kids, education income, stage in the household lifecycle, geographic location (urban vs. rural, etc.), or risk orientation, etc. This section is worth 48 points, make sure your target market is not too broad, be focused and concise using a multiple of characteristics. Target market and segmentation choices are perfect topics for scholarly references to substantiate your position (search in library for peer-reviewed, journals, see image below). Also, see textbook for a variety of segments to consider, pages 93-104.

Positioning Statement

Start with an introduction sentence or two. Then state what is your unique selling proposition (USP), who do you consider to be your competitors, and how does their positioning statement (as they are seen in the marketplace, what’s their USP differ than yours. Include a perceptual map that shows your company’s position against its competitors. You may use Microsoft Word, PowerPoint, or other equivalent software to create your perceptual map (suggestion: use Snip-it or Jing to take an image to drop in Word to keep the formatting you created). See textbook pages 107-113. Follow APA Figure formatting (your map should be labeled Figure 1 or 2, depending on if you used a figure for a logo, include description per APA). Figure 1 example is below:

Figure 1. Perceptual map representing Your Company Name in relation to competitors XYZ company, ABC company, and AAA company.

From this map, create a statement that depicts your position. Prepare a positioning statement (i.e., “For customers who want [segment], our brand is the best at [unique selling proposition—competitors and competitive advantage].”). See textbook pages 107-113.

Under Armour example:

Under Armour’s mission statement is, “Under Armour’s mission is to make all athletes better through passion, design and the relentless pursuit of innovation.” A converted position statement might be: “For athletes who want to be the best, Under Armour is the best at making all athletes better through passion, design, and the pursuit of innovation.”

Note: See page 110 in the textbook for example of another perceptual map.

Consumer Behavior of Target Market

Examine the relevant consumer behavior for your target market (use segmentation and targeting rationale from your textbook). Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market. Objective is to examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing. Remember your target market should consist of more than one characteristic (e.g., age, lifestyle values, attitudes, wants and needs, gender, age, number of kids, education income, stage in the household lifecycle, geographic location (urban vs. rural, etc.), or risk orientation, etc.). Good place to use references on consumer behavior from Journal of Marketing. See above for how to find these in the library.

Conclusion

Summarize the plan to this point (minimum of three sentences) and you should not include any new thoughts (just summary).

Sources (note this is centered and not bold and on a separate page)

Use at least three (3) academic, peer-reviewed resources as quantitative marketing research to determine the feasibility of your product / service. Three academic, peer-reviewed references are proficient. In order to receive most points as exemplary, submit four or more.

These academic, peer-reviewed resources should be industry specific and relate to your chosen product / service. Quality, academic references are peer-reviewed and found in scholarly journals published in the last 5 years. A good way to incorporate is by using Journal of Marketing, as an example, for your theories and consumer behavior observations.

Newspapers, magazines, and other Websites do not qualify as academic resources and although you should reference if you use, they do not count towards your minimum.

Listing your references without applying them in your text (citations) is not acceptable!!! See proper formatting in SWS hints on page 7 of this document.

Tips and SWS Formatting (delete this from your paper)

Below are tips and notes to guide you writing an SWS paper. Use this information as a reference and ask if you have any questions.

Tips and Notes:

1. NEVER plagiarize: Plagiarism: act of using someone else’s ideas, words, figures, unique approach, or specific reasoning without giving appropriate credit.

2. Always include an introduction for your Heading 1 topic (example: Environmental Analysis) to explain to the readers what they learn in the section you are introducing.

3. Paragraphs should be complete, such as a minimum of three sentences:

a. “Put only one main idea per paragraph.

b. Aim for three to five or more sentences per paragraph.

c. Include on each page about two handwritten or three typed paragraphs.

d. Make your paragraphs proportional to your paper. Since paragraphs do less work in short papers, have short paragraphs for short papers and longer paragraphs for longer papers.

e. If you have a few very short paragraphs, think about whether they are really parts of a larger paragraph—and can be combined—or whether you can add details to support each point and thus make each into a more fully developed paragraph.”

4. Do not use (or minimize):

a. they (minimize, pronouns, use actual names/titles for clarity)

b. these

c. there are

d. thing

e. it

f. this

g. I

h. we

i. you

j. one or ones

k. some

l. a lot

m. a ton

n. really

o. very

5. Use of contractions – spell out

6. Findings: are past tense

SWS Guidelines:

1. In -text citations:

If the in-text citation appears at the end of a sentence containing evidence, the closing punctuation of the sentence must follow the closing parenthesis of the citation.

Use the author’s last name or publishing organization’s name and then a comma. Then add the number indicating the placement of this source in the source list.

This is an example.

Studies have also indicated that the high concentration of CO2 in the atmosphere is primarily due to humans’ use of fossil fuels. Atmospheric data shows “that levels of CO2 in the atmosphere are higher than they have been at any time in the past 400,000 years” (National Aeronautics and Space Administration, 4).

2. Sources:

An SWS format Source list citation consists of:

· The author’s name.

· If there are multiple authors, only the first author is used.

· The year of publication of the source.

· The title of the source.

· The page range.

· A way to locate the source (in this case, a permalink from the Strayer Library).

Here is an example of a Source in an SWS format.

Stephanie Herring. 2014. Explaining Events of 2013 from a Climate Perspective. p. 5. http://libdatab.strayer.edu/login?url=https:// search.ebscohost.login.aspx?direct=true&db=a9h&AN=99124811 &site=eds-live&scope=site

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Part A: Legit Medical Courier Services Marketing Plan

Your Name

MKT500 Marketing Management Strayer University

Dr. Lisa Amans

Date submitted

Introduction

Legit Medical Courier Services is a company that mainly works as a mediator between the clinics, pharmacies and the customers across the country. The company is a courier service but it is specializing and trying to differentiate it from the majority courier services dealing in general delivery services. The company believes that the medical items require a higher efficiency services that should not be similar to the general courier services thus positioning itself on the unique and growing market. The company is located in California because it has the highest number of hospitals standing at 344 thus will provide a proper market. The marketing plan will comprise of the environmental analysis, SWOT and needs analysis.

Mission Statement

Legit Medical Courier Services’ mission statement is to make sure that consumers do receive the health services within a short duration while making sure that there is some form of privacy. The company strives to make sure that the medical services are upheld especially because they do require sensitivity and proper handling.

Goals

The courier services seek to establish a distinction between courier services and medical courier services as a way of guaranteeing quality services. The company is seeking to establish door to door services for the delivery of drugs or samples to the hospitals from the patients. The company seeks to change the perspective of courier services which is not common in the current market.

Short Term

Legit Medical Courier services is seeking to make sure that the medical clinics and health facilities in the state do reform and adopt the courier services. The company is working to maximize its presence in the state whereby it will start with advertisements to both the customers and the health facilities. The company will include monitoring website visitors, retention, the new product adoption rates and increasing market shares.

Long Term

The long-term goals for the company will mainly include mapping the entire California and start to break to the other states in the country. Legit Medical Courier services seeks to make sure that the concept of medical courier services become a common concept that is relevant to making sure that there is an increase in the need of the services. The company will rely on the rate of growth compared to the competition and the market, increases in market share and customer engagement.

Environmental Analysis

The environmental analysis comprises of the macro level factors that affect the performance and existence of a business. It is important to understand that businesses have to find the right environment that will fit their standards and make sure that they are productive. The analysis focuses on factors such as competition, economic, political, legal, technological and sociocultural forces.

Competitive Analysis

Competitive analysis is essential in making sure that the working environment is practical and efficient in terms that the workplace has to come up with a competitive advantage over their competitors. The Medical courier services is a new industry that is still evolving and attracting new companies thus most people tend to prefer to go for their own independent services, use the common courier services and if it is urgent demand for the ambulances for emergency services. The other courier services are a competition because they are popular and have an established control and influence on the market thus making it a major influence on the market. The fact that the competitors do not specifically operate for the medical services is a major limitation because there is an opportunity for a company that is specifically invested in such services.

Economic Analysis

The economic factors that might affect the company include the economic growth and interest rates. The economic growth in California is a huge and it is one of the leading states in terms of economic performance thus setting up a business it is bound to contain itself better in the society which is practical and efficient (Kotler & Zaltman, 2019). It is important to understand that with such an efficient economy, the market is efficient with consumers which is a more practical concept and vital for the growth of the business. The interests’ rates for the business are favorable and thus easier to manage and still make sure that the businesses are efficient. It is important to come up with the right set up of the business to make sure that the economic standards are influential to the way that they do perform.

Political and Legal Analysis

Political factors that might affect the business include the tax guidelines, political stability and trade regulations. It is important to understand that the tax guidelines in California are a little bit higher but because of the flow of the business, it might be a practical setting which is vital to make sure that they result in practical concepts. The trade regulations are favorable for businesses thus it is easier for the company to set up the business in a fitting nature to help make sure that they are profitable and relevant to the market (Park, Jaworski & Maclnnis, 2016). The organization is seeking to operate between both the transport services thus the regulation might influence the way that the business sets itself apart from the other competition.

The legal issues will affect the employment laws and safety regulations. Legit Medical Courier Services has to find the right safety regulations especially because it is seeking to deal with people’s medical records, and the sensitive medical services that makes it an important principle to enact in any business setting. The employment laws are strict in the state and thus they might influence the setting of the business that might demand for changes and influence the placing of the business on the market. It is important to understand that the fact that the incorporation of the employment laws in the state implies that there is need for the business to stick to the right hiring and firing laws to help maintain the interactions.

Technological Analysis

The introduction of the technological advancements in the transport sector are a major advantage to the positioning of the business in the society. It is important to understand that the company utilization of the technology such as the phone apps to help make sure that the customers can order for services online and also monitor the progress of their packages on the internet while making sure that they can easily transform the business setting (Day, 2020). The society has shifted to appreciate technology and incorporate it into all the daily aspects thus it is vital to adopt such principles which are vital in making sure that the customers feel that they can associate and interact with the company.

Sociocultural Forces Analysis

The sociocultural forces affecting the business will include lifestyle attitude and cultural limitations. The cultural limitations are evident because some consumers believe that the dealings with medical services are personal and interactional thus, they cannot disclose their services to third parties. The people’s religious beliefs, the cultures and their personal feelings might influence the business performance and connection to their consumers (Dickson & Ginter, 2017). The lifestyle attitude might help or affect the business because the need for the consumers to adopt and learn to live with the technological changes is vital for their production. The company will benefit in a setting where consumers yearn for door-to-door services. However, the fact that people prefer indulging in services such as confidence when it comes to their medical records and activities will become a major problem for them to open up to the new business that is seeking to transform their business.

SWOT and Needs Analysis

SWOT analysis is relevant for the business because it helps in the proper definition of all factors of business and make it easier to establish the strengths, weaknesses, threats and opportunities. The Legit Medical Courier Services is a new company thus it is important to conduct the SWOT and needs analysis which will help make sure that they identify the position of the company on the market or where they can make changes to help increase the efficiency of the company.

Table 1

SWOT Analysis

Strengths · The company is changing the common courier services technique · utilization of the phone app to communicate and link with customers · increase in efficiency and safety of medicine records, safety and speed of getting them to and from customers.	Weaknesses · Poor advertisement · Limited funding and connections with external firms · Poor reputation of courier services in terms of transporting medical supplies and services
Opportunities · The advancement and utilization of technology · Need for door-to-door transport for medical services · Reduction of the need for visiting hospitals for minor services and needs.	Threats · Failure of building trust with consumers on the market · Competition · New substitute products

Note: Strengths, weaknesses, opportunities, and threats for Legit Medical Courier Services company.

Strengths

The company is offering the transport services for medical supplies which is a unique feature for businesses on the market which is beneficial to their planning and efficiency. The current market is not offering such services which is an advantage to how the company is set to conduct their business. The company setting up services such as phone apps almost similar to Uber is essential for their performance because it is easier for the customers to get them and also monitor the progress for their delivery which is vital in building up support and trust from the consumers. The general utilization of services from the general courier services do not guarantee safe services for the medical supplies of the customers. Legit Medical Courier Services poses a major advantage because it is solemnly invested on the medical courier services which provides the necessary strength.

Weaknesses

Legit Medical Courier Services is bound to endure the poor reputation of the courier services on the market especially when transporting medical services that are personal. Most courier services tend to lose items, deliver late and or end up leaking information of the customers which is a major risk for the business since there is a ruined reputation on the market. It is evident that the company is struggling with advertisement and this is derailing their performance and efficiency. The company is having major problems because their popularity is derailing and it has to approach customers personally which is time consuming and less efficient. The fact that Legit Medical Courier Services is a startup is having problems formulating its plan on the market which is making it a major problem for the company. It is evident that the company has limited sponsors and funding which is making it a challenge to fit into the large and wide competitive market.

Opportunities

The fact that the sector is still growing, it guarantees numerous opportunities for the company especially because there is technology that gives the company a major advantage in terms of communicating and remaining in contact with its customers. The opportunity helps in solving the issue of tracking and safety of the consumers products which is product and efficient which is vital for interacting. There is a growing need for the society to have door-to-door medical services especially the current year whereby most people have locked down has made it a major challenge for people to move and access health facilities (Stasch & Lanktree, 2018). The concept is essential because the patients can easily seek and ask for health services from the company thus improving the opportunity for the company on the market. Most people in the society are shifting from the movement and interactions in the actual world instead they need to have their services at their door step instead of them going outside for the same services.

Threats

The fact that there are numerous courier services it is bound to generate competition since most of them can easily dedicate some of their routes and vehicles to venture into the medical courier services. The concept is a major threat because the concept might render the company useless especially when the company competing is a major league and might end up crashing the company. The introduction of substitute products such as the online services, Zoom and video conferencing are a major threat because the consumers can easily connect and communicate with their physicians from a distance which is a major issue. The company might fail to formulate positive reputation and change the attitude of the consumers on the market since it is still fitting into the courier services that are essential for their productivity. The medical courier services are heavily dependent on their reputations thus it is a major problem for the company especially at the growing stage to find positive reputation first which might take time.

Conclusion

Legit Medical Courier Service is a new entrant into the market of transport and service seeking to help in the transportation of drugs supplies to their customers while also might take samples and deliver them to the hospitals. The environmental analysis helps in the positioning of the company in terms of competition, political, technological, sociocultural, economic among others. The common factors might include installation of phone apps, positing the company in a competitive manner, investing in a stable economy with respect to legal issues. The company has to establish a proper plan to curb the variations between the operations and the external environment. The incorporation of the SWOT analysis is also important in making sure that there is proper understanding of the organization’s strengths, weaknesses, opportunities and threats. The variations in the ways that the company integrate their performance on a market, makes it essential and necessary to perform such a strategy to give the company a working place.

Sources

Day, G. (2020). The Capabilities of Market-Driven Organizations. Journal of Marketing, 58(4), 37-52. doi:10.2307/1251915

Dickson, P., & Ginter, J. (2017). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2), 1-10. doi:10.2307/1251125

Kotler, P., & Zaltman, G. (2019). Social Marketing: An Approach to Planned Social Change. Journal of Marketing, 35(3), 3-12. doi:10.2307/1249783

Park, C., Jaworski, B., & Maclnnis, D. (2016). Strategic Brand Concept-Image Management. Journal of Marketing, 50(4), 135-145. doi:10.2307/1251291

Stasch, S., & Lanktree, P. (2018). Can Your Marketing Planning Procedures be Improved? Journal of Marketing, 44(3), 79-90. doi:10.2307/1251114