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Purpose of AssignmentThe purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address.Assignment StepsNote: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper.Resources: Marketing Plan and OutlineProducing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This will be added to the Target Market section of your Marketing Plan.Include the following:Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement).Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:Required executive summary elements:Strategic Objectives Products or Services Optional executive summary elements:Resources Needed Projected OutcomesIntegrate the previous weeks sections, and incorporate corrections and suggestions from the instructors weekly feedback. The marketing plan should contain elements from each week of the course, including:Understanding Target Markets (Week 2)Promotion and the Product Life Cycle (Week 3)Price and Channel Strategy (Week 4)Marketing Communication and Brand Strategy (Week 5)Executive Summary, Legal, Social and Ethical Considerations (Week 6)Format your assignment according to APA guidelines.NOTE - the Wk 5 Assignment will be sent at a later date! wk_2.docx wk_3.docx wk_4.docx mkt571r10_marketing_plan_outline_and_timeline.doc mkt571r10_wk6_gg_social_ethical_and_legal_implications.doc Unformatted Attachment Preview RESEARCH PLAN 1 Research Plan: Effective Relationship Marketing Braxton Bernstein University of Phoenix – Pasadena, CA Prof. Charlie Bourgault MKT/571 28 April 2020 RESEARCH PLAN 2 Developing effective relationship marketing Introduction One of the most challenging tasks for any new business is acquiring new customers. It involves attracting the customers attention, pitching your product or service effectively to the new entrant, and eventually making the sale. This process is quite lengthy and cost as much as a significant proportion of the companys expenses. The biggest dilemma, moreover, is whether to attract new customers or to hold on to the existing ones considering that resources are scarce and should be used as economically as possible. Studies has over time, revealed that it is more prudent to strike a balance since while there are potential cost reductions when loyalty is built, increasing the customer base is relevant for sustainability (Gummesson,2017). Consequently, this implies that businesses have to dedicate parts of their marketing to perform the different pertinent strategies as regards the two options. Notably, new customers are considered to be transactional, while existing customers may prompt the need for relationship marketing strategies to build a repeat business. Primary Research The fundamental element of relationship marketing is understanding the target market. One can then go on to understand consumers behavior and trigger influences. All this is enabled by first understanding the demographics of their market. This will then allow the firm to analyze who these customers are, what they like, and why they buy the products that they buy. The company then tailors its products or services in such a way that it meets the needs of their customers, sustainably. Most companies have, for the longest acted on impulse, tending to think that customers return depending on how they are served, or probably because of location factors or offers the unique product the customer needs (Sheth,2017). RESEARCH PLAN 3 Environmental Analysis One of the known tools for analyzing consumer or client demographics include the use of PESTEL analysis to determine what factors could influence the customers buying habits. Conventionally, this model has been used to analyze the macro-market factors but can be applied to the clients environment as an attempt to understand the consumers behavior and or influences. It serves as the basis of collecting data about the consumer, which could be subsequently used to segment the market. The factors can then be used to analyze the clients data in the following ways: Political: Political factors could include elements such as analyzing to what extent the government influences the financial health of the economy as a macro-factor. This could involve understanding issues such as changes in tax policy that could impact customers buying behavior or such matters as trade wars that recently led to a significant drop in oil prices and how such could influence buyers for an oil retailing firm. Economic: For our case, we will try and analyze the micro-economic factors that could influence clients to act the way they do or influencing the amount of disposable income they have and varies from industry to another. Socio-cultural factors: These are the attributes of the population in consideration that involve shared beliefs and the general population attitude that might influence the tastes and preferences of the consumer market. The firm could consider these the gateway to directly understanding the customers culture and what drives them. Technological factors: The technological pedestal mirrors a rapidly changing landscape, and as such, businesses need to adapt to either enjoy disruptive growth or phase out. Marketing should then explore new, technologically capable ways of understanding customers. RESEARCH PLAN 4 This could involve using Big data to establish useful patterns that could be capitalized for the business gain. Environmental and legal factors: These include the ethics and the law to the running of the society as well as promoting sustainability of the globe. It is essential in guiding the scope of business activities that the firm decides to engage in. Figure 1: PESTEL factors diagram Political Economic Environmental PESTEL Technological. Legal Customer Analysis and Profiling. The above model or research brings forth a wealth of vast customer data to the firm. This enables practical customer analysis depending on spending behavior among other criteria and subsequently classifying them into segments as profiles (Zhang et al.,2016). The marketing department then develops unique marketing strategies for each of the customer profiles as a means to developing a productive relationship. For instance, a customer who values the product elements belongs to a different niche as compared to a customer who feels that the customer RESEARCH PLAN 5 service experience offered by a particular firm was worthwhile. It is evident that the loyalty bases for each of the customers above are different, and each prompts a unique marketing strategy. Continuous Monitoring and Research. Progressively, the marketing strategies researched above, get implemented in the ever dynamic business environments. A necessary follow up plan is to monitor the strategy implementation to succession consistently. This involves the use of various performance management techniques such as SWOT analysis as well as management metrics such as repeat sales to assess whether marketing targets set are being met. Data analysis could subsequently follow to see whether there is a change in customer spending patterns or whether social media loyalty is up to speed (Steinhoff et al., 2019). Such as examples of controls necessary to evaluate and monitor the success of the marketing plan put in place. RESEARCH PLAN 6 References Gummesson, E. (2017). From relationship marketing to total relationship marketing and beyond. Journal of services marketing. Sheth, J. (2017). Revitalizing relationship marketing. Journal of Services Marketing. Steinhoff, L., Arli, D., Weaven, S., & Kozlenkova, I. V. (2019). Online relationship marketing. Journal of the Academy of Marketing Science, 47(3), 369-393. Zhang, J. Z., Watson Iv, G. F., Palmatier, R. W., & Dant, R. P. (2016). Dynamic relationship marketing. Journal of Marketing, 80(5), 53-75. NEW PRODUCT STRATEGY 1 Coke Zero Product Strategy Braxton Bernstein University of Phoenix – Pasadena, CA MKT/571 Prof. Charlie Bourgault 5 May 5, 2020 NEW PRODUCT STRATEGY 2 Coke Zero Product Strategy Introduction Whenever a new product is introduced, the company has to be considerate of various critical factors that play into the marketing and subsequent sales of the product. Such could include understanding the competitive market, understanding the relevant product’s lifecycle, the impact and choice of the promotion media, and, most importantly, coming up with relevant metrics upon which to measure the success of the set-out objectives. Such factors could thus preclude the choice of a new product launch and marketing strategy that will deliver success. From past cases, it is evident that it spells doom for any company wishing to launch a new product without duly considering such factors. Product strategy The Coke Zero came as a product of the parent company Coca-Cola and varied with a slightly different distinct taste from the original Cola and has lower-calorie content. From the company’s perspective, it adds to the portfolio of its other beverage products and serves to increase the market share. It was designed to target consumers with a conscious calorie and especially young males. Moreover, its packaging in 375 ml cans, and the primary target distribution through Vending machines add to the convenience of the product to the young 18-22-year-old males. Its distinctly black color is intended to tap into individuals who might identify with masculinity. Such product features, therefore, coupled with an effective customer relationship management promotional strategy (Singh & Singh, 2017), convenient pricing strategy, and strategic place utility from the Vending Machines, are believed to boost the efficacy of coke Zero’s penetration and subsequent growth. Understanding the Product life cycle The Product life cycle theory aids in adopting the relevant approach that should be useful in achieving the appropriate targets at the time. At every stage, the suitable marketing NEW PRODUCT STRATEGY 3 strategy at the time should be reviewed against the overall marketing strategy, to allow adjustments if deemed necessary. The introduction of the product saw its primary marketing objective as market penetration among health-conscious young males, who mostly identify with gender stereotypes. Over time the market share grows, and of recent years the product as observed plausible rates to consider the product has entered the growth stage (Sharma, 2013). Here the marketing strategy is then adjusted so that it aligns well with the overall marketing strategy. Marketing penetration still holds as the ideal marketing strategy since it is also presumed that the targeted market is still growing. Moreover, when the growth rates start becoming double-digit as observed in some markets, it is then reasonable to say that the market has clocked the maturity stage. The relevant marketing strategy could broadly be guided by the need to serve precise needs in a very refined ‘mature’ market. Besides, to determine the most appropriate marketing strategy, one could use the Ansoff matrix coupled with the product life cycle analysis discussed above. Ansoff Matrix is a tool that helps in deciding the relevant strategy depending on whether both the product and the market are new or pre-existing (Lockrey, 2015). This can then help in determining what to include in the product’s features as well as how to effect convenience in place utility as well as in promotional efforts. Public relations and Media Marketing The Coca-Cola company has to its repository a panacea of promotional tools and communication channels to effectively sell its products. Some of these strategies much support the Coke Zero market penetration strategies strategy using relatively smaller cans. The majority of the tools include successful traditional advertising strategies such as the use of billboards and conventional television advertising. This applies to this new product as well, with innovation being the necessary tool to evolve (Davis, 2013). The successful history NEW PRODUCT STRATEGY 4 of these elements is also evident with this product as Coca-Cola was successfully able to step up an increased market share during the campaign to launch the product. Moreover, public relations(PR) is used as a supplementary promotional strategy as a means to boost the market penetration strategy necessary for the introduction and growth stages of Coke Zero. The primary objective of PR is to aid in using all available outwardly communication channels to influence public opinions as a means of increasing market penetration in this case (McAllister & West, 2013). In as much as it is considered ineffective because of lack of control, this is potentially mitigated using a CRM model and corporate social responsibility, which helps lessen the impact of Public relations in influencing public opinion. NEW PRODUCT STRATEGY 5 References Davis, A. (2013). Promotional cultures: The rise and spread of advertising, public relations, marketing and branding. Polity. Lockrey, S. (2015). A review of life cycle based ecological marketing strategy for new product development in the organizational environment. Journal of Cleaner production, 95, 115. McAllister, M. P., & West, E. (Eds.). (2013). The Routledge companion to advertising and promotional culture. Routledge. Sharma, N. (2013). Marketing strategy on different stages PLC and its marketing implications on FMCG products. International Journal of Marketing, Financial Services & Management Research, 2(3), 121-136. Singh, U. S., & Sahin, O. (2017). Measuring the Effectiveness of Sales Promotion Activities on Brand Loyalty: A Study on COCA COLA. International Journal of Social Sciences and Educational Studies, 3(3), 159-173. MARKETING MIX 1 Price and Channel Strategy Braxton Bernstein University of Phoenix – Pasadena, CA MKT/571 Prof. Charlie Bourgault 12 May 2020 MARKETING MIX 2 Marketing mix Introduction If you talk about Coca-Cola, there is a chance everyone around you knows it and has possibly indulged in one of their beverages. The Coca-Cola brand is one of the leading nonalcoholic beverage names in the world, spanning over 200 countries to every corner of the globe you can think of. In as much as the soda industry is susceptible to economic hurt during recession and downturns or forex fluctuations, it is still thriving, especially the Coca-Cola Sodas, with all its still and sparkling fizziness. Besides, it is worth noting that this much popularity has impacted the growth of health beverages as well as other health trends. This is evidence of a strong brand and customer loyalty. In this paper, we are going to examine the impact of a suitable marketing mix to the continued sustainability of the brand (Arab, 2018). Broadly, it encompasses the critical decisions regarding pricing strategies, distribution strategies and eventually, the product positioning within the supply chain channels. Dynamic / Static Pricing In determining the relevant price for Coke Zero, it is necessary to critically analyze and study the demand and supply variables of the target market. These young, health-conscious males identify with Masculinity. The product comes mostly in small cans, but this does not preclude the fact that it is packaged in many other forms as well. The fundamental driver to the pricing is that the different sizes come in handy to suit the differing needs of various individuals. Moreover, it is evident that the brand generally has a favorable pricing policy if compared to its competitors and subsequently of relatively better quality (Hind & Amina, 2016). Coke Zero adopted a penetration pricing policy, which meant comparatively lower reasonable prices to appeal to every customer and the market. Market researchers and analysts determine the most suitable price that the customers could be willing to pay, large revenues. In this regard, therefore, we consider the pricing strategy to be more dynamic than static. MARKETING MIX 3 Distribution strategies Recently, Coca-Cola announced that it would be moving its distribution globally to a franchisee, and would supply only the coke syrup and let the burden of distribution to retailers or Vending Machines move to regional bottling companies. The essence of this alteration to the distribution logistics is expected to result in substantial cost savings for the company. Specialized and dedicated intermediaries are left to focus on handling the distributions of coke zero to retailers and the target market. The move is seen to be a disruption to the previously convenient vertical integration. Still, similar cases and experiences have proven the technique to be quite beneficial, especially when viewed from the example of Ford Motor Company (Winterich & Swaminathan, 2008). Moreover, it is quite timely as coke zero is in the growth stage of the product life cycle, and recent data shows a beginning in the fall of sales growth rate. The decline in the sales rate makes it very convenient to channel efforts to maximize the growth of other areas. Positioning within Channels Positioning could be regarded as how well a product fits comparatively to its competitors and the subsequent perception of this position by the target consumer segment. Coke Zero could be said to have used target segmentation and strategic positioning to lure its specific target consumers. In context, we need to compare coke Zero concerning its competitors, specifically the Pepsi Max. Both the products are sugar-free and are both directed at similar target segments. Besides, Coke Zero faces indirect competition from the other products within the company and which could consequently be said to play a role in helping Coke Zero align its position strategically (Onkvisit & Shaw, 2017). In terms of pricing or product features, coke zero doesn’t seem to have a direct competitive advantage besides its MARKETING MIX 4 ‘secret formula’, which can be well mitigated by competitors making similar substitutes. It is thus apparent that brand loyalty is a critical advantage over the competition. Conclusion As we have seen above, Coke Zero’s Pricing strategies, distribution strategies as well as position within the channel are all developed in alignment with the product’s market penetration strategy. In the preceding paragraph, the product positioning with competitors such as Pepsi Max does not give it much exclusivity. Besides, there is a possibility that such competition such as will use a similar pricing strategy. Such a situation prompts a response strategy, further underscoring the importance of a dynamic pricing strategy. Moreover, it is apparent that Coke Zero’s distribution strategies further supports this by boosting the availability of the product at lessened costs. MARKETING MIX 5 References Arab, N. (2018). Relationship between dimensions of Brand Equity and 4Ps of Marketing MixPlace, Product, Promotion, & Price: Coca Cola-Consumer Based Qualitative Survey. Hind, G., & Amina, A. (2016). International brand strategy: Case analysis according to the Moroccan Market. Journal of International Business Research and Marketing, 2(1), 34-40. Winterich, K. P., Mittal, V., & Swaminathan, V. (2008). Promotion matching: the role of promotion type and self-construal on purchase intentions. ACR North American Advances. Onkvisit, S., & Shaw, J. J. (2017). The ‘glocalization’of product and advertising strategies. Strategic International Marketing: An Advanced Perspective, 23. Marketing Plan Outline and Timeline MKT/571 Version 10 University of Phoenix Material Marketing Plan Outline and Timeline Marketing Plan You are expected to develop a marketing plan, according to the outline below, for a product or service of your choosing. The product or service must be identified by the end of Week 1. The product or service you select is used to develop the assignments for Weeks 2 through Week 6. References must be included for each section. There are no defined standards for the length of the marketing plan; however, your plan must disclose complete marketing strategies and provide reliable and valid references and data supporting the strategies to convince the target audience. The plan must be written in plain language that would be easily understood by stakeholders. Marketing Plan Outline Your final marketing plan must consist of the following sections. Refer to the timeline for due dates for each section and subsection. Assignments may include modifications to these lists. Please use lists provided in assignments only. • Executive Summary: o o o o • Situational Analysis: o o o o o o o o • Vision, Mission, Strategic objectives, Values Internal Analysis Strengths/Weaknesses Capability/Capacity Competitor’s Strengths/Weaknesses Technological Competency Product or Service Analysis Market Segments Research o o o o o o o o o o o • Strategic Objectives Products or Services Resources Needed Projected Outcomes Primary Research Secondary Research Consumer Analysis Customer Profile Continuous Consumer Monitoring & Research Environmental Scanning Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces Current Opportunities Potential Future Opportunities Current Threats Potential Future Threat Target Market(s): Copyright © 2017 by Universit ... Purchase answer to see full attachment