Expert answer:GB530 Unit 4 Assignment Brand Extension Marketing
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Assignment Grading Rubric
Course: GB530
Unit: 4
Points: 100
Assignment 4 Brand Extension Marketing Plan
Introduction: The major project in this course is to complete a Brand Extension Marketing Plan for one new
product on the behalf of an existing for-profit organization. Using the Marketing Plan guide found in Course
Documents, complete and submit the following components of your Marketing Plan.
Unit 4: Marketing Plan – Developing Strong Brands
3.5 Positioning (refer to Chapters 10 and 11 of your Kotler text).
•
•
Describe how your product/service meets the need(s) of your target market segments.
Describe how you are different from your key competition. What is the most distinguishing feature of
your new product?
3.6 Strategies: Skip this Section.
3.7 Marketing Mix (refer to Chapters 13, 16, 17, and 20 of your Kotler and Keller text for help with this
section)
Product
• What makes your product different from the competition?
• What gives your product more value than the competition?
Price
• How will you determine what price to charge for your product?
• How will go determine what your product is worth?
• How will your pricing strategy set you apart from your competition?
Place
• How do you plan to distribute your product? Do you have alternative delivery methods in mind? If so,
describe in detail.
• Will you take responsibility for distribution, or will you reply on an outside firm? How will you decide?
Promotion
• What kind of promotional tools will you use? Describe in detail.
• How will you determine what promotional tactics will work best?
• With a limited promotional budget, how do you plan to gain market share?
• How will you go about evaluating the results of your promotional campaign?
3.8 Marketing Research (refer back to Chapter 4 of your Kotler and Keller text for
help with this section).
•
•
What type(s) of marketing research to you think will work best to get you the information you need to
make informed decisions?
How will you evaluate whether the research is providing you with the results you need?
Assignment Grading Rubric
Course: GB530
•
Unit: 4
Points: 100
Will you conduct the research yourself, or hire an outside firm? Explain why.
Tips
•
•
•
The guide you should use for all Marketing Plan Assignments is in Course Documents.
The Kotler & Keller text is extremely helpful to you when completing your ongoing weekly Assignments.
During each unit of your class, a new component of the Marketing Plan will be due.
Submit your response to the above questions into the Unit 4 Assignment Dropbox.
The components of your Brand Extension Marketing Plan for Unit 4 are evaluated using this rubric.
Unit 4 Brand Extension Marketing Plan Assignment Rubric Criteria
Possible
Points
Positioning
Describe how your product/service meets the
need(s) of your target market segments.
10
Marketing Mix
Product: Clearly stated what makes your product
different from the competition and your most
distinguishing feature.
7
Product: Clearly stated what gives your product
more value.
7
Price: Stated how you will set the price of your
product.
7
Price: Stated how you will determine what your
product is worth.
7
Price: Stated how your pricing strategy will set you
apart from the competition.
7
Place: Stated how you plan to distribute your
product.
7
Place: Identified whether you will be responsible for
distribution, or an outside firm, and why.
7
Promotion: Described what promotional vehicles
are best to gain customer share for your product.
7
Promotion: Described how you will evaluate the
success (or failure) of your promotional objectives.
7
Assignment Grading Rubric
Course: GB530
Unit: 4
Points: 100
Marketing
Research
Described in detail the kinds of marketing research
you feel will be most effective and how you will
evaluate the results.
10
Writing
Clear business writing. APA formatting, Spelling,
and grammar are acceptable.
17
Total
100
Running Head: Brand Extension Marketing Plan
1
Brand Extension Marketing Plan
Kaplan University
GB530 Unit: 1
Bryan May
Running Head: Brand Extension Marketing Plan
2
Introduction
Starbucks has expanded from a coffee café in Seattle, Washington to one of the leading company
in the world. The company has over 50,000 stores located across different countries. The
company’s mission is to be one of the most respected and recognized brands in the world. The
company has established its brand name in their store locations. The stores have expanded to
include a discount or grocery stores. Starbucks’ marketing mix comprises of pre-bottled
Frappuccino drinks. The company is planning to establish a new brand extension that will greatly
help them venture into the drink-mix markets. The mix will be referred to as “Starbucks
Refreshers Strawberry Lemonade Mix”. The mix will be convenient, easy to use and of great
taste. The drinking mix will start with strawberry flavor but could branch out into different
flavors as the popularity of the brink mix expands (Mason, 2013).
The drink mix would be easy to use with the portable liquid container. The target market for the
drink would include busy people, conscious people, and consumers who travel a lot. The
SRSLM will be a good drink for them owing to its portability.
One of the keys to the success of SRSLM would be that the company would continue to develop
new flavors of the drink mix. This will ensure that the company is ahead of its competitors.
However, the company would need to branch out and distribute the drink mix into other markets
such of department, grocery and convenience stores (Mason, 2013).
Market summary
Running Head: Brand Extension Marketing Plan
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The target customers for the company include 55% females and 45% females. The average age is
30 and earns around $60,000 a year. Most of the Starbucks are usually university students and
drink around 40 cups of coffee a week.
Market Demographics
The profile for the Starbucks customers includes the following geographic, demographic and
behavioral factors.
Demographics – most of the Starbucks’ customers include intelligent people. These customers
are located in areas that have wireless internet. The Starbucks’ customers are working class
people and need a quick coffee break away from offices. The customers usually visit the
Starbucks’ stores from six to eighteen times a month.
Geographic – since its establishment, the company has grown internationally to over 3,000
locations worldwide. Starbucks has established stores over twenty countries (Wu, 2013). These
countries include Germany, United States, Europe, and Australia. The company has established
stores in all major cities in the United States and plans are underway to expand to other
countries. For instance, the company is planning to open a store in Ethiopia.
Market needs
The company provides its customers with good specialty drinks and coffee with a friendly
atmosphere. The company intends to combine their coffee with the customers’ busy lifestyle
(Wu, 2013). The company provides the customers with special brewed drinks and coffee. Its
employees are friendly and welcoming people.
Marketing growth
Running Head: Brand Extension Marketing Plan
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The coffee market is growing by bounds and leaps. According to statistics, over 100 million
people drink coffee daily. In the last few years, the coffee industry has grown by 10 percent;
Starbucks is estimating their revenue to grow to over 10.5 million in fiscal 2018. The company
has expanded its store to countries such as Brazil, China, and Russia to increase its market
shares.
Level of competition
The Starbucks face stiff competition in the coffee industry. Its current competitors include
McDonald’s, Dunkin Donuts, Krispy Kreme Donuts and Tim Horton’s (Wu, 2017). McDonald’s
has even introduced the smoothies and coffee lattes. Tim Horton’s is a major competitor of
Starbucks in the northeast. Horton sells donuts, pastries, and coffees and hence maintains stiff
competition with Starbucks. Therefore, the company needs to keep improving their marketing
strategies in order to ensure its successfulness in the market.
However, customers prefer Starbucks for its high-quality coffee. The company offers various
versions of Italian espresso. The company also sells Frappuccino, which is a rare drink. The
company can successfully compete with other companies by continually expanding their market
and introducing a new line of products to the public (Wu, 2013).
Running Head: Brand Extension Marketing Plan
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References
Mason, A., Cole, T., & Goza, N. (2017). STARBUCKS: A CASE STUDY OF EFFECTIVE
MANAGEMENT IN THE COFFEE INDUSTRY. Journal of International Management Studies,
17(1).
Wu, H. C., & Wu, H. C. (2017). What drives experiential loyalty? A case study of Starbucks
coffee chain in Taiwan. British Food Journal, 119(3), 468-496.
Wu, C. L. (2013). The Research of Brand Image, Experiential Marketing, Customer Satisfaction
and Customer Loyalty-Example of Starbucks Coffee.
Running Head: Brand Extension Marketing Plan
1
Brand Extension Marketing Plan
Kaplan University
GB530 – Unit 2
Bryan May
October 23, 2017
Running Head: Brand Extension Marketing Plan
2
Market trends
Trends that will influence how the customers view the product
Marketing trends
Starbucks Company specializes in selling drinks and coffee. Since its establishment in the early
17th century, the coffee industry has been a popular product offered by Starbucks. Most of the
costumers who drink coffee in Starbucks are fans of brews such as cigarette smoking and they
have troubles giving up. This has been the main reason for long-term marketing trends involving
coffee industry. There is a growing popular trend for drive-through coffee stores. This is
becoming commonly popular among the Starbucks customers. The company has established over
500 locations. Many customers enjoy convenience and comfort of drive-through because they do
not need to leave their cars behind (Schmitt, 2015).
Other trends for the Starbucks Company include specialty drinks, smoothies, organic coffee and
other drink variations. The company has invented different types of drinks including fruit
smoothies, chai tea, and chai tea lemonade.
SWOT analysis
Below SWOT analysis shows the key weaknesses and strengths within the Starbucks Company.
It also describes the threats and opportunities facing Starbucks.
Strengths – the company enjoys a loyal customer; they are always happy and returning. The
company also enjoys loyal employees; they enjoy working with the company and are dedicated
to being part of successful business. The company is highly committed and dedicated to social
Running Head: Brand Extension Marketing Plan
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issues. The company has the foundation to contributing to such issues including clean water and
literacy (Schmitt, 2015).
Weaknesses
The company, in this recent past, has involved in conflicts with other coffee industries in the
retail market. For instance, retail malls, in which the company has opened its stores in, open
later. The company does not advertise its products. This is a key disadvantage with other
businesses that advertise their products.
Opportunities
It is advisable for the Starbucks Company to consider developing new areas to expand its
services globally. This is only to continue growing and increasing its profits. The company can
consider expanding to Africa or Asia. Further, the company may consider developing co-brands
with other well-known drink or food manufacturers. This can include making a conjunction with
Jim Beam.
Threats
The high cost of supplies can cause the company to have increased expenses. The company can
face considerable number unpredictable factors that would cause serious problems. This could
include economic, weather, and political conditions in the world. The company is also facing
serious competition in the coffee market. It is important for the company to keep growing and
come up with innovative means in order to stay ahead of the competition.
Running Head: Brand Extension Marketing Plan
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Product offering
Product/benefits/features – flavorful, good tasting, and responsibly price products. When the
customers by Starbucks’s products they tend to come back again and again. The company has its
stores located in convenient places in every major town and city, quick service, and friendly
atmosphere. The company also offers innovative product that of great taste and unique value.
Further, its products are environmentally friendly materials – the packagings are made with
recycled cardboard. The company establishes itself as a unique manufacturer of coffee products
in the international market. The company has an easily recognizable brand logo. Starbucks has
made progress to further its brand through establishing itself retail stores, grocery stores,
business offices and rest stops.
Key to success
The company offers the products that satisfy the consumer’s needs. However, it is important for
the company to consider reinventing its businesses in order to be highly competitive in the
market. The company has opened new stores all over around the world. However, Starbucks
needs to continue to explore the global market for new marketing opportunity (Athanasopoulou,
2015). The company has continued to be inviting and friendly its customers. Its store has an
inviting atmosphere that attracts new customers.
Critical issues
The Starbucks has continued to make customers happy by coming up with improved customer
services. The company could greatly help to improve its customer services by serving its
customers with a quickness. Its employees need to be attentive and friendly. Further, the
company can help its employees to be more attentive and productive (Schoult, 2013).
Running Head: Brand Extension Marketing Plan
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This can be enhanced by treating their employees with great respect and offering them needed
training. The company should ensure that its employees are fully satisfied to ensure that they
provide satisfactory services to customers. Further, the company may consider involving in
community projects to enhance their social standings.
Running Head: Brand Extension Marketing Plan
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References
Schmitt, B. (2014). Experiential marketing. Journal of marketing management, 15(1-3), 53-67.
Athanasopoulou, P., Giovanis, A. N., & Avlonitis, G. J. (2015). Marketing strategy decisions for
brand extension success. Journal of Brand Management, 22(6), 487-514.
Schoultz, M. (2013). Starbucks Marketing Makes Social Media a Difference Maker. Retrieved
February, 25, 2015.
Running Head: Marketing Plan
1
Unit 3 Marketing Plan: Connecting with the Customer 3.0: Marketing Strategy
Kaplan University
Bryan May
10/31/2017
Running Head: Marketing Plan
2
3.1 Mission
The fundamental goals for the quality of the product offering:
Product – “Starbucks Refreshers Strawberry Lemonade Mix”
The fundamental goals of the company in promoting its product are to increase sales and achieve
sustainable competitive advantage in the market. In order to ensure increased sales of the
SRSLM, the company will have to use various marketing strategies including short-term, basic
and long-term activities in the field of marketing. However, the company will set fundamental
goals that are specific, measurable, achievable, realistic and time-specific. The goals will allow
the company’s management to effectively manage the marketing activities of the SRSLM and
hence ensure it successfulness in the market (Taecharungro, 2016).
The company will have to adopt SMART approach in order to achieve the SRSLM marketing
objectives.
Specific – the objectives of the product will be stated in a precise approach
Measureable – the company’s management will establish a way to check the product’s level of
success in the market.
Achievable – the company will ensure that the product’s objectives are reasonable
Realistic – strategies will be set in place to ensure that the product perform better in the market.
Running Head: Marketing Plan
3
Product offering – the SRSLM has a good tasting, flavorful and offered at a reasonable price.
The product’s flavor will attract many customers. The SRSLM uses environmentally friendly
materials. Its packaging will be made using recycles cardboard (Taecharungroj, 2016).
Goal formulation – in order to run a successful market for the product (SRSLM), the company
will have to establish a winning strategy. In other words, marketing objectives and goals of the
SRSLM will be clearly defined in order to reach the target customers. The company will conduct
thorough advertisement on the internet and on mass media with intent of reaching the consumers.
3.2 Marketing Objectives
Specific marketing objectives – In addition, the new product with increase the business market
positioning through expansion of drink division into retailer stores within a period of two years.
Market share – the Strawberry Lemonade Crystals will increase the business’ total market shares
over the next three years, with an expected 4 percent within four years.
Market penetration – currently the company’s market share is approximately 5 percent. The
Strawberry Lemonade Crystals will help the company to continue building on their business
image. The company would increase their brand reputation and name in the global market with
their new product offering.
Awareness – the awareness of the product will be promoted through internet and through search
engine optimization. In addition, ads will also be placed on websites in order to reach as many
customers as possible.
Customer acquisition – the product’s customer base will be expanded through line of advertising
such as television, billboards, posters, radio spots, cinema spots and print advertisement.
Running Head: Marketing Plan
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Specific, measurable marketing share and size – the drink mix (SRSLM) will held approximately
$200 million sales within three years. the product’s market share will increase to 10 million units
globally by 2018.
3.4 Target Markets
Customer demographic – the new product will target busy working class, college students, health
conscious and sport enthusiasts
Geographic segment – the product will be offered in areas where customers want easy and fast
ways to make the mix drink on the go (Armstrong, 2015).
The demographic segment of the new product will include the customers who want easy and fast
product to use. Most of these customers are outdoor oriented, sports oriented people who do not
drink sodas; they are health conscious and hence look for good healthy drinks. SRSLM will be
better product for them (Wen, 2016).
Running Head: Marketing Plan
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References
Taecharungroj, V. (2016). Starbucks’ marketing communications strategy on Twitter. Journal of
Marketing Communications, 1-19.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction.
Pearson Education.
Wen, S. (2016). Marketing strategies: Starbucks in China.
…
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