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For this Assignment, you will continue to take on the role of a marketer for a large corporate company that currently sells high-end products or services. Your task will continue to be to assess the possibilities of selling a less expensive product/service to boost sales while maintaining the quality expectations of your consumer base. The challenge will be to not tarnish your brand while bringing in new customers that will boost sales for the company.
To complete this Assignment, you will continue to develop and present an assessment overview of a high-end brand that is planning to incorporate the possibility of selling a lower-end product or service to a new market. A big consideration is evaluating brand value. Your continued task will be to evaluate your current high-end brand and compare it to the potential new low-cost product/service and assess the real value aspect in order to make an impact on customer buying decisions and perceived value from the overall customer base, all while keeping your current customer base. Last week, you selected a company, and you will continue using that company for this week’s Assignment.
The product of your evaluation will be a report that you could deliver to the company’s CEO and senior leadership team for review. In addition to the requirements that follow, be sure to incorporate references to appropriate academic sources, such as those found in the Learning Resources, or those in the Walden Library.
Note: Last week, you submitted Parts 1 and 2. This week, you will continue building your report, to include any revisions needed to Parts 1 and 2, as well as your newly developed Part 3 and an executive summary.
To prepare for this Assignment:
Return to the Module 2 Assignment Template you utilized in Week 4. With the research and readings from Week 4 in mind, incorporate any feedback, as needed, into your report as you complete Part 3 and the executive summary.
By Day 7
Submit Part 3 of your report, as well as the executive summary, to include the following:
Part 3: Incorporating Market Share Capturing (approximately 2 pages)
Summarize how market share approach can lead to consumer confidence.
Synthesize your market share analysis for the new strategy and its impact on the organization.
To conclude your evaluation for the CEO, defend how your market share strategies will support your overall marketing strategy for both products and capture market share for the company.
Executive Summary (page 1 of your report)
Provide the CEO with an executive summary of your evaluation of the opportunities for the brand. This will serve as the first page of your report. Be sure to address the following in your executive summary:
Clearly state the purpose of the report.
Concisely summarize the results of your evaluation of how the company could expand its brand to include a lower-cost version of a product/service that would retain existing customers while capturing additional market share.