This will be part of you comprehensive marketing plan for Condor Land LLC. It will be the Strategy section of your final marketing plan.
Make sure you have completed Module 4, Lesson 1 Positioning before you complete this assignment.
In this assignment, you will need to define the Target Market, Value Proposition, and Positioning Statement for Condor Land LLC including recommending a brand name for the retail business and their private label products.
MAKE SURE TO DELETE ALL THE INSTRUCTIONS BEFORE YOU SUBMIT THIS.
The Strategy section of the Marketing Plan outlines the master plan for achieving the company’s goal. The strategy has two key components: defining the target market and defining the value proposition. Open this section with a one to three sentence introduction which summarizes the overall strategy.
The target market is defined by the 5 C’s: Customers (Target Customers), Company, Collaborators, Competitors, and Climate (or Context). In contrast to the Market Overview, the target market analysis is narrower and is only concerned with the markets that will be targeted by the company.
The Target Customer section defines the buyers for whom the company will tailor its efforts. It does not describe all the customers who a company might serve. For example, 5 Below, the deep discount retail chain, targets the 60 million Americans aged 5 to 19, who are estimated to account for over $250 billion in annual spending. Adults also shop at these stores but they are not the target customers.
Clearly define the target customer segment(s) including the customer needs the company aims to fulfill with its offering, and a customer profile with demographic and behavioral characteristics. Clearly state the characteristics of the target customers that will enable to company to reach these customers in an effective and cost-efficient manner.
The Company defines the core competencies and strategic assets the company has or needs to develop/acquire to serve the target customers.
Collaborators identifies the entities that will work with the company to design, communicate, and deliver value to the target customers.
Competitors identifies the current and potential competitors that target the same customers and aim to fulfill the same customer need as the company’s offering. In this section, the focus is usually on direct competitors unless there is a significant indirect threat.
Context details only the relevant aspects of the external environment. For example, social trends that are creating new consumer needs, or technology diffusion rates.
The value proposition is the value that a company’s offering aims to create for target customers, the company, and its collaborators. In this section define the Customer Value Proposition, Collaborator Value Proposition, and Company Value Proposition.
The Customer Value Proposition defines the benefits and associates costs that the company’s offering aims to create for target customers. It answers the question: How does the coffering create superior value for target customers relative to the competitive offerings?
The Collaborator Value Proposition defines the benefits and associates costs that the company’s offering aims to create for the company’s collaborators. It answers the question: How does the coffering create superior value for the company’s collaborators relative to the competitive offerings?
The Company Value Proposition defines the benefits and associates costs that the company’s offering aims to create for the company. It answers the question: How does the coffering create superior value for the company relative to the other options the company must forgo in order to pursue this offering?
A Positioning Statement is a succinct summary of an offering’s strategy. It identifies four elements:
Target Customers: The customer the company or business unit is focused on serving.
Frame of Reference: The reference point used in a customer’s mind to evaluate the offer. For example, Uber is an on-demand car service, Gieco is an insurance company.)
Primary Benefit: The key source of value the company or business unit will deliver, ideally a differentiator – a unique selling proposition.)
Reason to Believe: Proof that the company or business unit can deliver the promised benefit.
