Starburst Candy

Deliverable: Marketing plan audit can be typed into a report or you may create a slideshow. Paper must be a minimum of 5 pages or slideshow should be a minimum of 15 slides. Minimums do not include title page or references.

Students will be responsible for completing a detailed marketing plan audit for a nationally marketed consumer product.  You will need to have your product approved by the instructor.  Additionally, you will need to follow the outline provided as you complete your project.

You will need to select a nationally marketed brand named consumer product that begins with the first letter of your last name.  Your consumer product choice must be approved by the instructor.  The link will be provided in blackboard for you to submit your selection for approval.  Example:  My last name is Riker so I would select a product that starts with R.  An option would be Raisin Bran or RedBull.

When completing your marketing plan audit for the consumer product, you are researching their marketing efforts.  You are not creating a plan for them but you are analyzing their marketing efforts.

You will need to address the following items in full and complete detail.  Make sure you title each section and use separate paragraphs for each part.

• Product description & company description
• Products unique features/characteristics (what sets it apart from the competition)
• Mission Statement (most likely it will be the Mission Statement for the company)
• Environmental Analysis – look at the different external environmental factors that are currently or in the future going to impact the industry your product competes in
• Competitor analysis – identify both direct and indirect competitors. For the top 3 direct competitors what makes their product unique.
• SWOT – provide a detailed SWOT for the product
• Segmentation factors – which factors do they use to narrow the market and then to define the target market
• Target market (target audience) – what different target markets do they reach to with the product/s
• Positioning Strategy
• Marketing Mix Factors:
  • Product – provide a detailed description of the product they offer, what is the product classification, brand name, describe the label and the information included on the label, product packaging, customer service/support
  • Price – how is it priced, how does that compare to competitors, what pricing strategy are they using
  • Place – distribution strategy, who do they partner with to get the product to consumers (what wholesalers and retailers are used), where are they located within the store (sections, place on the shelf, what products are they positioned next to)
  • Promotion – Discuss the use of the different promotional mix items used to reach the target audience, make sure you review use of all of the promotional mix items. Provide examples of print or digital tools used.

A couple of key points when completing your project:

• Be specific and detailed in your coverage of the topics
• Title each part and then answer. You do not need to provide a definition of the factor or explain why it is used.  Just address how it is applied to the product.
• This is a professional business class assignment. Make sure you check spelling and grammar before you submit.
• Make sure that you provide sources that are used for the project
• Title and sources are not included in the minimum requirements for the project
• Grading rubric is provided so you may want to review before you submit your project