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7. The goal of the marketing concept is to satisfy customer wants and needs. What is the goal of a competitor-centred strategy? Discuss whether the marketing concept and competitor centred strategy are in conflict.

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Lelia Lubowitz
Lelia LubowitzLv2
31 May 2018

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I am so confused as to what i am supposed to do... This is allthe directions the professor gave us but i am confused.

TERM PROJECT: Marketing Plan

The term project consists of developing a marketing plan forestablishing a new boutique gift shop in the ChamplainValley This project enables you to integrate the manydimensions of marketing that make up the marketing plan. You willacquire the planning discipline, understand the role of morespecialized marketing courses (i.e., advertising, consumerbehavior, marketing research, etc.) in marketing planning, anddevelop an applied practical as well as theoretical understandingof marketing.n

Please note that the project is an individualassignment and not a group assignment.

Marketing Plan Part 1: Situation Analysis(Uncontrollable elements)

1.1 Company analysis of objectives and resources

  • Objectives
  • Resources
  • Other marketing strategies and programs
  • Opportunity analysis
  • Ethics and social responsibility
  • Gathering company information

1.2 Customer analysis

  • Learn more about customers and customer behavior
  • Define the Product market
  • Apply this information for segmentation and targeting
  • Gathering customer information

1.3 Competitive market analysis: Competitor matrix

  • What companies are our main competitors
  • What is the marketing strategy for each of these firms (TM +4Ps)
  • What is each firm’s positioning
  • What are each competitors’ strengths and weaknesses
  • How would the competitor react to changes in our marketingstrategy

1.4 External Market environments

  • Economic environment
  • Technological environment
  • Political and legal environment
  • Cultural and social environment

1.5 SWOT analysis (Strengths, Weaknesses, Opportunities andThreats)

1.6 Marketing plan objectives (emerge from companyobjectives)

1.7 Differentiation and Positioning

What were the response of consumers and competitors to BestBuy’s angel and devil classifications and its customer-centricityapproach? If you worked for a Best Buy competitor, would yousuggest this marketing approach for your organization?

Explain why market potential and industry sales measures are important in the selection of a marketing strategy.

Discuss the importance of marketing planning for companies’ success in today’s competitive market environment. Give some examples.

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