Marketing task 3: Strategy In this task you will complete the Strategy portion of your Marketing Plan. The Strategy Should include: Segmentation Targeting Positioning Goals Complete a thorough analysis for your new venture. To complete this task successfully first work through all learning resource activities:

Background Resources 1. Watch the Lynda video series: Marketing Fundamentals Chapter on Developing Your Strategy (4 videos*) https://www.lynda.com/Business-Skills-tutorials/Marketing-Fundamentals/168334-2.html?org=stratford.edu *Download exercise file (uploaded below) 2. (if you need further clarification) Read more about strategy in Chapter 3 of How to Write a Marketing Plan, Revised Third Edition https://b833qcx8p-mp01-y-https-library-books24x7-com.prx-stratford.lirn.net/toc.aspx 3. (if you need further clarification) Read Chapters 6-10 in Malcolm McDonald on Marketing Planning: Understanding Marketing Plans and Strategy https://b833qcx8q-mp01-y-https-library-books24x7-com.prx-stratford.lirn.net/toc.aspx Segmentation How will you appeal to customers? "When we segment based on attitudes, we're looking for a benefit that meets three criteria: 1) our product actually delivers the benefit better than the competition; 2) customers perceive that our product delivers better; and 3) the benefit is rated highest in importance based on our customer analysis. If you find a benefit that meets these criteria, you select that as your segmentation variable." ~Drew Boyd Part 1: Demographics- Gather and analyze demographic data about the product or service you have chosen. Part 2: Geographic- Gather and analyze geographic data about the product or service you have chosen. Part 3: Behavioral- Gather and analyze behavioral data about the product or service you have chosen. Part 4: Psychographic- Gather and analyze psychographic data about the product or service you have chosen. Part 5: Draft your market segmentation strategy section for the final project's marketing plan. Targeting "Start with benefit selected during segmentation. Then test against the demographic and geographic data." ~Drew Boyd Part 1: Gather and analyze data to find an opportunity by segment. Part 2: Draft your targeting strategy section for the final project's marketing plan. Positioning Part 1: Complete the Five-Box Chart (See Important Documents or the exercise files in Lynda) Part 2: Define the Reasons to Believe- RTBs (See Important Documents or the exercise files in Lynda) Part 3: Draft your positioning strategy section for the final project's marketing plan. You are now ready to add all your information to the Marketing Plan Template and upload below. You should complete the Marketing Plan Template's Strategy section. This will include: Segmentation Targeting Positioning Goals Add any graphs or diagrams you used in coming to your conclusions. Upload below.