Mkt1 Task

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Marketing Plan Worksheet
This worksheet is a complement to the study guide for both the MKT1. The purpose of this worksheet is to help you think about and apply important marketing concepts to Company G. By working through the exercises and matrices introduced in this worksheet (Section A, Section B, and Section C), you are laying the foundation for your marketing plan required in this assessment. This worksheet should be completed before you write your Marketing Plan, for which a template is provided.

SECTION A – Product and Target Market
The purpose of this exercise is to help you define and classify your chosen product, and define a specific target market. What a product is, how it supports the company mission, and how it fits into the market must be well understood in order to market it effectively. The target market must also be a fairly narrow, specific group of customers for this task. Product

Product Description & Support of Mission Statement: Describe the different features of your product, then explain how that feature supports the given mission statement Example:
Product Description: ACME Roadrunner pelletsMission Statement: Our mission is to delight our customers and channel partners by providing high quality, effective roadrunner pellets with timely delivery, superior customer service, and the best warranty in the industry. Feature: potent roadrunner deterrent chemicalsHow this supports the mission statement: The concentrated formula makes our pellets more effective than competing products. It will be perceived as higher quality because it is more effective. Because it works well it will delight our customers, and they will continue purchasing our products from our channel partners, which will enhance their businesses.

Complete the following table for your product. Add as many rows as necessary for your product. Product Description: Programmable crock pot with controllable smart device appGiven Mission Statement: We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions. Feature (Example): Remote control of crock potHow this supports the mission statement: This product enables the user to control the crock pot from any location. This allows the user to conveniently cook while on the go. Feature: Enter a feature of your product hereHow this supports the mission statement: Enter your explanation here Feature: Enter a feature of your product hereHow this supports the mission statement: Enter your explanation here Feature: Enter a feature of your product hereHow this supports the mission statement: Enter your explanation here

Consumer Product Classification
Reading: Please review the following resources to gain an understanding of the Consumer Product Classification System. - Principles of Marketing and Business Communication Text: Chapter 6 Section 2 entitled, “Types of Consumer Offerings.” - Learning Community Blog: “3-way Consumer Product Classification System “ Examine your product to determine which class your product matches most closely. On the table below, fill in the characteristic and its respective classification for each factor. The most frequently named class should be the correct consumer product classification. FactorCharacteristicClass (convenience, shopping, or specialty) Consumer Factors

-Planning time involved in purchase
-Purchase frequency
-Importance of convenient location
-Comparison of price and quality
-Enter characteristic here
-Enter characteristic here
-Enter characteristic here
-Enter characteristic here
-Enter class here
-Enter class here
-Enter class here
-Enter class here
Marketing Mix Factors
-Price
-Importance of seller’s image
-Distribution channel length
-Number of sales outlets
-Promotion
-Enter characteristic here
-Enter characteristic here
-Enter characteristic here...
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