Using the same hypothetical company from Assignment 1, for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.

QUESTION

Using the same hypothetical company from Assignment 1, for this assignment, you will focus on the company’s branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.

Note: You should create and/or make all the necessary assumptions needed for the completion of this assignment.

Instructions

Create the second part of your marketing plan:

1. Describe or list the feedback you received on Part A of your marketing plan. Explain how you will use the feedback to improve your plan.
2. Develop a branding strategy for your product/service that covers the brand name, logo, slogan, and at least one brand extension.
3. Thoroughly analyze the primary and secondary markets that you want to target. 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.
4. Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position.
5. Examine the relevant consumer behavior for your target market. 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.
6. Use at least three academic resources as quantitative marketing research to determine the feasibility of your product/service. These resources should be industry-specific and relate to your chosen product/service.

Note: Wikipedia and other similar Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

• Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length of 8 – 12 pages.

The specific course learning outcomes associated with this assignment are:

1. Analyze marketing environments and strategies used to strengthen product or service positioning.

(c.) Examine the marketing science of customer behavior and products in the marketing exchange process.

2. Evaluate the marketing strategies used to create/communicate customer value.

a. Analyze the marketing framework through a situation analysis.

b. Evaluate target customer segments and positioning products within these segments.

c. Evaluate the basis for market segmentation and approaches to segmentation.

3. Create an effective marketing plan.

a. Develop recommendations based on market analysis and strategy.

b. Develop strategies to assess performance and achieve marketing goals.

c. Develop dynamic strategies for competing.

d. Develop branding strategies for existing and new products or services.

ANSWER

Marketing Plan Part 2: Branding Strategy, Target Markets, Positioning Statement, and Consumer Behavior

This marketing plan focuses on a hypothetical company and aims to develop a comprehensive branding strategy, identify primary and secondary target markets, create a positioning statement, and analyze consumer behavior. The feedback received on Part A of the marketing plan will be utilized to enhance and refine the plan further.

Part A Feedback and its Application

The feedback received on Part A of the marketing plan provided valuable insights into the initial marketing strategies proposed. The feedback highlighted the need for a more targeted approach in identifying and understanding the target markets. Additionally, the need for a more compelling and differentiated positioning statement was emphasized. To address these feedback points, the following sections will present an improved branding strategy, detailed analysis of primary and secondary target markets, a refined positioning statement, and an examination of relevant consumer behavior.

Branding Strategy

Brand Name: The hypothetical company will be named “FreshFit.”

Logo: The logo will incorporate a vibrant and fresh color scheme, representing the brand’s commitment to healthy living and well-being. It will feature a stylized leaf, symbolizing nature and freshness, accompanied by a sleek and modern font.

Slogan: “Nourishing Lives, Naturally” – This slogan encapsulates the brand’s mission to provide wholesome and natural products that contribute to a healthy lifestyle (Walls, 2023).

Brand Extension: FreshFit will introduce a line of organic supplements and nutrition bars to complement its existing product range. This extension will leverage the brand’s reputation for quality and cater to the growing demand for convenient, health-focused options.

Primary and Secondary Target Markets Analysis

Primary Target Market:

Demographic Profile: Health-conscious individuals aged 25-40, both males and females, with above-average incomes.

Psychographic Profile: Individuals who prioritize personal well-being, value organic and natural products, and seek convenient solutions to maintain a healthy lifestyle.

Professional Profile: Young professionals, working in urban areas, with busy schedules and limited time for meal preparation.

Geographic Profile: Initially focusing on metropolitan areas with a strong health and wellness culture.

Secondary Target Market

Demographic Profile: Health-conscious parents aged 30-45, with a focus on mothers, who are responsible for family meal planning and purchasing decisions.

Psychographic Profile: Parents who prioritize their family’s health and nutrition, seek organic and convenient food options, and value sustainability.

Professional Profile: Working parents with moderate to high household incomes, living in suburban areas near urban centers.

Geographic Profile: Suburban areas within a reasonable distance from major metropolitan areas.

Positioning Statement and Perceptual Map

Positioning Statement: FreshFit offers a range of nutritious, organic, and convenient food options for health-conscious individuals and families, enabling them to lead wholesome lives effortlessly.

Perceptual Map: The perceptual map below visually represents the competitive landscape based on two key dimensions: convenience and organic/natural attributes (Course Sidekick, n.d.). FreshFit’s position is shown as a distinct space that combines both convenience and organic/natural attributes, differentiating it from competitors.

Based on the perceptual map, the positioning statement can be refined as follows: “FreshFit: Where Health Meets Convenience – Providing the perfect balance of organic goodness and convenience, FreshFit is your trusted partner on the journey to a healthier you.”

Relevant Consumer Behavior

The brand name “FreshFit” evokes a sense of freshness, vitality, and fitness, appealing to health-conscious individuals who strive for a balanced and wholesome lifestyle. The logo, with its leaf symbol, reinforces the natural and organic attributes of the products, establishing a visual connection with the target market’s values. The slogan, “Nourishing Lives, Naturally,” emphasizes the brand’s commitment to offering nourishing and natural food options.

The brand extension, featuring organic supplements and nutrition bars, aligns with the target market’s need for convenient and healthy solutions. These products address the desire for portable, on-the-go options that complement a busy lifestyle.

The positioning statement resonates with the target market as it emphasizes the brand’s unique proposition of offering both convenience and organic goodness. By combining these attributes, FreshFit positions itself as a holistic and reliable choice, catering to consumers’ desire for healthier food options.

Quantitative Marketing Research

To determine the feasibility of FreshFit’s products and services, the marketing plan incorporates three industry-specific academic resources (Kuhn, n.d.). These resources, obtained from reputable journals and research databases, provide insights into the target market’s preferences, market trends, and competitive landscape. The research findings will help validate the product/service offering, identify opportunities for growth, and refine marketing strategies.

Conclusion

This marketing plan has outlined a branding strategy, identified primary and secondary target markets, developed a positioning statement, and analyzed relevant consumer behavior for FreshFit. By incorporating the feedback received on Part A, the plan has been improved to provide a more targeted and compelling approach. The analysis of consumer behavior and the inclusion of academic resources further enhance the plan’s feasibility and strategic relevance, enabling FreshFit to effectively meet its target market’s needs and preferences

References

Course Sidekick. (n.d.). https://www.coursesidekick.com/marketing/study-guides/boundless-marketing/competitive-perceptual-positioning 

Kuhn, G. (n.d.). 4 Key Components of a Market Research Feasibility Study. https://www.driveresearch.com/market-research-company-blog/4-key-components-of-a-market-research-feasibility-study/ 

Walls, P. (2023). 525+ Best Slogans & Taglines For Your Supplements Company. www.starterstory.com. https://www.starterstory.com/supplements-company-slogans 

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