Week 6 Assignment – Part B: Developing Marketing Strategies

Overview

Using the same hypothetical company from Part A: Marketing Plan Input, 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 make all assumptions needed for the completion of this assignment.

Instructions

Create the second part of your marketing plan in 5–7 pages using the Part B Marketing Plan Template [DOCX]:

  1. Explain      how you will use the feedback you received on Part A of your marketing      plan to improve your plan. 
  2. Develop      a branding strategy for the product or service that covers the brand name,      logo, slogan, and at least one brand extension. 
  3. Analyze      the primary and secondary markets that will be targeted, including the      demographic profile (age, gender, ethnicity), psychographic, professional,      and geographic profiles. 
  4. Prepare      a positioning statement that depicts a specific position using a      perceptual map that shows a company’s position against its competitors.       
  5. Explain      the main reasons why the brand name, logo, slogan, brand extension, and      positioning statement are right for the identified target market. 
  6. Use      at least three sources to support your writing. Choose sources that are      credible, relevant, and appropriate. Cite each source listed on your      source page at least one time within your assignment. For help with      research, writing, and citation, access the library or review library guides.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

Resources

The specific course learning outcome associated with this assignment is:

  • Develop      a branding strategy for a target market based on relevant consumer      behavior.

View Dr. Aman’s help videos below for assistance with this assignment.

MKT500

Guru Child Care Center Marketing Plan (Part A)

Nicholas Henry

MKT500 Marketing Management

Strayer University

Lisa Amans

30 October 2022

Introduction

Guru Child Care Center is a therapy organization established in 2010. The organization is established in Seattle city, Washington State. The location was selected because it is a region with a huge number of children (0-18years) suffering from different mental disorders that compromise their behavior, cognitive and emotional skills. It is also the state where the founder is located, making it easy to manage and run an organization from a close distance. The organization offers services to therapeutic children. The main conditions targeted include anxiety disorders, attention-deficit/hyperactivity disorder (ADHD), eating disorders, depression, other mood disorders, and post-traumatic stress disorder (PTSD).

Since the establishment of the Guru Child Care Center, the founders have been guided by a solid mission, goals, and objectives that make the organization purposeful and positively impactful to the targeted children and society. Different strategies have been established and implemented to help achieve the mission, goals, and objectives in both the short and long term. However, the organization has a detailed external environment that, in some ways, promotes mission, goals, and objectives achievement, hindering them immensely. This marketing plan unveils the business’s mission, goals, and objectives while analyzing the external and internal environment in which the business thrives.

Mission Statement

Every business is established for a specific purpose, and a mission statement acts as a guide for the business to remain focused on achieving its overall purpose. Guru Child Care Center’s mission is “to offer all children with mental disorders a chance to overcome the challenge and live a quality life.”With this mission, the organization is challenged to embrace great values, principles, and strategies to see the targeted children get proper intervention and recover from the challenge. The mission is highly effective for the organization because it is the desire of the organization to positively impact the children, who are the main beneficiaries and society as the indirect beneficiaries. Many children have been vulnerable due to mental disorders that sometimes remain with the child unresolved. Guru Child Care Center brings professional and ethical services to some tormenting conditions that are cumbersome to handle and offers a timely intervention.

Goals

Guru Child Care Center was established to bring a positive change for children suffering from four different mental conditions: anxiety disorders, attention-deficit/hyperactivity disorder (ADHD), eating disorders, depression, and other mood disorders and post-traumatic stress disorder (PTSD). These are common conditions and affect many children, even without some children displaying massive signs. To achieve the organization’s overall purpose, the organization has set goals classified under two categories, short and long-term—short-term goals to be achieved within one year and long-term goals within five years.

Long Term

· To increase the number of children served to approximately 3 million annually.

· To have increased market share from the current 6% to 25% and customer base from the current 5% to 25%.

· To establish other outlets in different locations in Seattle and other close states to reach out to other children in other states.

· To improve the revenues margin from 4.5% to 12% by the fifth year.

· To have introduced and offered services or interventions in other conditions affecting children, for instance, autism and Schizophrenia.

· To have improved overall organizational assets from $1.2million to $ 5 million.

Short Term

· To improve the quality of services offered, upgrade from the current 12% customer satisfaction rate to at least 16% by the end of the year.

· To improve consumer engagement daily from the current state of 100 clients to at least 500 people without challenges.

· To increase market share by at least 3.5% annually

· To improve consumer base by at least 5% by the end of the year

· To increase profit margins and revenues generated by at least 5% by the end of the year

Environmental Analysis

Guru Child Care Center is an organization that has a healthy internal and external environment. The two environments are important as they sustain the organization’s existence and also grant hope for a better tomorrow. Understanding external forces place the organization in a position to understand how best to handle them for effective operation in the market.

Competitive Analysis

The Guru Child Care Center is in the child care services industry, and there are a diverse number of other companies offering similar services. Some are ranked under for-profit organizations, and others are non-profit organizations. The Guru Child Care Center is a for-profit organization. Its direct competitors include; Seattle Well-Child Therapy Center, Good Shepherd Child Therapy Clinic, and Child Mind Wellness Medical Center. Some non-profit organizations like the St. Mary Child Support Center and the Great Home for Child Mental Wellness. All these facilities are strong as they have qualified professionals, but some for-profit facilities have high service prices. On the other hand, non-profit organizations offer quality yet affordable services (Matovic, 2020). The challenge is that the organizations have yet to be able to meet the market ever increasing demand.

Economic Analysis

Guru Child Care Center offers for-profit services, which means the country’s economic status does have a direct impact on service delivery. Inflation and a high rate of unemployment push parents to ignore mental conditions. Their children could be suffering from something different when there is economic stability. Challenges emanating from the Covid-19 menace have left many families in an economically devastating situation. Sadly, the economic instability has remained a major hindrance since many cannot afford the services and have been pushed to seek services from non-profit organizations. The situation is expected to improve with the economy gradually stabilizing, and many parents are getting employment.

Political and Legal Analysis

It is a good thing that the federal government has made sure that the political environment is calm and favorable to businesses in the United States. The legislature properly discusses the laws governing different sectors, and any change is made public prior to ample preparation (Matovic, 2020). This is a situation that makes the political and legal climate in the United States, and especially Seattle, favor business, and the Guru Child Care Center remains a major beneficiary. However, the organization must remain fully compliant with laws and regulations, for instance, by submitting taxes promptly and having all valid operating licenses.

Technological Analysis

It is good that the United States has embraced advanced technology, making service delivery faster, more effective, and cost-effective. The services professionals offer to children, in most cases, depend on technology, which means that the business has an advantage in this aspect. This is because there are available technological tools the organization can purchase and use in offering unique and consumer-satisfying services. For instance, technology allows organization therapists to offer telemedicine, enabling them to access their patients at any time.

Sociocultural Forces Analysis

Mental health is not proactively addressed, as many people in society feel there is a stigma in accepting having a child with a mental condition. The cultural beliefs hinder many from seeking help leaving children to suffer and only get to detect the problem in its advanced stages. This remains a major hindrance for the organization. However, it is a good thing that with many people getting educated and exposed, they have come to learn about mental disorders. Even though they would not go public, at least they seek medical attention secretly (Henly & Adams, 2018). This is one way the organization is being saved from the challenge of sociocultural forces.

SWOT Analysis

Guru Child Care Center has some internal strengths and weaknesses, while there are some market opportunities and threats. Understanding this aspect of the organization is critical in making necessary adjustments that would help achieve the organizational mission, goals, and objectives.


SWOT Analysis

Strengths

· Specializes in a strong area with high demand for services

· Quality leadership

· Economic stability

Weaknesses

· Low marketing tactics

· Unstable information system

· Long decision-making process

Opportunities

· Increasing demand in unexplored local markets

· Potential opportunities in the international market

· Availability of improved advanced technology

Threats

· Increasing competition

· Unstable political and legal climate in some potential markets

· The increasing cost of living and high rate of unemployment

Note: Strengths, weaknesses, opportunities, and threats for Guru Child Care Center

Strengths

The Guru Child Care Center has strengths in various areas. Some of them are that the organization specializes in a strong area with high demand for services, there is excellent quality leadership, and the organization enjoys economic stability. These are important because the services are relevant to consumers since they are needed, so there is no single day the organization would lack consumers (Henly & Adams, 2018). Good leadership and the organization have managed to attain financial stability places the organization ahead of many other competing brands (Remolina, 2022).

Weaknesses

Sadly, the Guru Child Care Center records common marketing tactics, an unstable information system, and a long decision-making process. These are challenges that hinder successful operations. For instance, a common marketing tactic hinders the level at which the organization is recognized locally. Hence even many that may need services offered might need to be made aware of such an organization where they can seek help. An unstable information system constantly causes communication breakdown and miscommunication, while a long decision-making process hinders the smooth flow of operations that need emergency action.

Opportunities

Advanced technology can help the organization to remain competitive. In the childcare services sector, there is an Increasing demand in new local markets; there are also potential opportunities in the international market and high availability of improved advanced technology (Remolina, 2022). These are opportunities the Guru Child Care Center can take advantage of by expanding to potential unexplored areas making it easier to achieve some of its short and long- term goals.

Threats

The market is challenging because there is an increasing competition that lowers the market share the organization occupies. Secondly, there is an unstable political and legal climate in some potential markets, making it hard for the organization to consider investing in such areas despite their potentiality. Lastly, the increasing cost of living and high unemployment rate hinders many people from being able to afford the services offered.

Conclusion

Guru Child Care Center is a for-profit organization that offers mental conditions intervention services to children. The company has a series of strengths and opportunities to capitalize on. It is good that the organization has a valuable mission, goals, and objectives that would help the employees remain focused and achieve the organization’s overall purpose. On the other hand, some weaknesses and threats should be addressed using available strengths and opportunities.

References

Henly, J. R., & Adams, G. (2018). Increasing access to quality childcare for four priority populations. 
The Urban Institute. Retrieved from: https://www. urban. org/research/publication/increasing access-quality-child-care-four-priority-populations.

Matovic, I. M. (2020). PESTEL analysis of the external environment as a success factor of a startup business.
Conscious, 96.

Remolina, N. (2022). Interconnectedness and Financial Stability in the Era of Artificial Intelligence. 
SMU Centre for AI & Data Governance Research Paper, Singapore Management University School of Law Research Paper.

© 2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University.

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MKT500

Part B: ABC Marketing Plan (Change to your name of business here)

Your Name

MKT500 Marketing Management
Strayer University

Dr. Your Professor

Date submitted

Introduction

Explain how you will use the feedback you received on Part A of your marketing plan to improve your plan. Do not just list the feedback.

Next, re-introduce your company you shared in Part A.

Lastly, review what you will share: branding strategy, primary and secondary target markets, positioning statement, and consumer behavior.

Branding Strategy

Write an introduction here (minimum of three sentences). Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension.
For each of these sections below, provide rationale. Each section should be a minimum of three sentences.

Brand Name

Text starts here, provide rationale (minimum of three sentences).

Logo

Text starts here (do not start with an image of your logo, describe first); provide rationale (minimum of three sentences). Relay what the logo means, for example, Nike’s swoosh logo. Example below:

Figure 1. Your company name logo and short descrption.

Slogan

Text starts here (do not start with your slogan, describe first); provide rationale (minimum of three sentences).

Brand Extension

Text starts here, provide rationale (minimum of three sentences).

Primary and Secondary Target Markets

Analyze the primary and secondary target markets for your company. Thoroughly include the demographic profile (for example, age, gender, ethnicity, et cetera), psychographic profile, professional profile, and geographic profile. Factors to consider in determining your target markets could be age, lifestyle values, attitudes, wants and needs, gender, number of kids, education income, stage in the household lifecycle, geographic location (urban versus rural, et cetera), or risk orientation. Make sure your target market is not too broad; be focused and concise, using multiple characteristics. Target market and segmentation choices are perfect topics for scholarly references to substantiate your position (search in library for peer-reviewed, journals).

Positioning Statement

Start with an introduction sentence or two. Then state what is your unique selling proposition (USP), who do you consider to be your competitors, and how does their positioning statement (as they are seen in the marketplace, what’s their USP) differ from yours. Include a perceptual map that shows your company’s position against its competitors. You may use Microsoft Word, PowerPoint, or other equivalent software to create your perceptual map. Figure 1 example is below:

Figure 1. Perceptual map representing Your Company Name in relation to competitors XYZ company, ABC company, and AAA company.

From this map, create a statement that depicts your position. Prepare a positioning statement (that is, “For customers who want [segment], our brand is the best at [unique selling proposition—competitors and competitive advantage].”).


Under Armour example:

Under Armour’s mission statement is, “Under Armour’s mission is to make all athletes better through passion, design and the relentless pursuit of innovation.” A converted position statement might be: “For athletes who want to be the best, Under Armour is the best at making all athletes better through passion, design, and the pursuit of innovation.”

Note: See the textbook for an example of another perceptual map.

Consumer Behavior of Target Market

Examine the relevant consumer behavior for your target market (use segmentation and targeting rationale from your textbook). 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. Objective is to examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing. Remember your target market should consist of more than one characteristic (for example, age, lifestyle values, attitudes, wants and needs, gender, age, number of kids, education income, stage in the household lifecycle, geographic location (urban vs. rural, et cetera), or risk orientation). Good place to use references on consumer behavior from Journal of Marketing.

Conclusion

Summarize the plan to this point (minimum of three sentences) and you should not include any new thoughts (just summary).


Sources

Use three credible, relevant, and appropriate resources as marketing research to determine the feasibility of your product or service. To receive most points as exemplary, you must meet the required number of credible, relevant, and appropriate references.

These resources should be industry specific, relate to your chosen product or service, and be published in the last five years. A good way to incorporate is by using
Journal of Marketing, as an example, for your theories and consumer behavior observations.

SWS Guidelines: (delete this from your paper)

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course and the
Strayer Writing Center.

© 2020 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University.

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