Skip to content

Mkt 421 Week 1 Assignment Brand Paper

Resources: University Library, Internet

Create a new product or service for an existing organization. This

product or service will be the basis for your Marketing Plan

Paper. Obtain your instructor’s approval of your product or

service before beginning this project.

Write a 1,400- to 1,750-word paper to include the following:

• An overview of the existing organization

• A description of the new product or service

• An explanation of the importance of marketing to your

selected organization’s success

• A SWOTT (Strengths, Weaknesses, Opportunities, Threats,

and Trends) analysis on the new product or service

• The marketing research approach you would use to develop

the marketing strategy and tactics for this new product or

service

Refer to the Marketing Plan Outline listed on the student website

for the general framework of the Marketing Plan.

Format your paper consistent with APA guidelines.

 

2Understanding Marketing and Customer RelationshipsUnderstanding marketing as a multi-step process, building successful customer relationships is essential to helping organizations grow and achieve their goal. Defining marketing, the customer value proposition, and creating mutually beneficial relationships between the organization and target, as well as applying these concepts to create a personal brandis valuable. With my personal brand, energy and focus on the needs of customers to ensure they obtain maximum value will complement the company's true value. MarketingThe American Marketing Association represents individuals and organizations involved in the development and practice of marketing worldwide. It defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and the entire society (University of Phoenix). Marketing stresses the need to deliver true value in the offerings of goods, services, and ideas advertised to consumers. Potential consumers or people with the desire, authority, time and money to buy specific offerings make up a market (University of Phoenix, 2017). Four factors are required for marketing to occur.1.Two or more parties with unsatisfied needs2.Desire and ability to have their needs satisfied3.A way for the parties to communicate4.Something available to exchangeCustomer RelationshipsThe benefits that a product promises to deliver is value proposition. The key to understanding value propositions is the acceptance that a business can’t expect to have the