Wal-Mart Stores, Inc.

In Assignment 2, using the same company from Assignment 1, you will focus on the company’s mission, introduction, and branding.

Note: You may create and /or make all necessary assumptions needed for the completion of this assignment.

Write a four to five (4-5) page paper in which you:

 

1. Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension.
2. Assemble a marketing strategy for your product, and determine an appropriate time table to implement your plan). Provide a rationale for your response.
3. Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position. For example, “Our product is the fastest in its class for half the price.” Note: See pp. 54 – 55 in the textbook for examples of perceptual maps. You may use Microsoft Word, PowerPoint, or other equivalent software to create your perceptual map.
4. Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement and marketing strategy are right for the identified target market.
5. Develop your company’s mission statement and company introduction.
6. Use at least three (3) academic resources as quantitative marketing research to determine the feasibility of your product/service. These resources should be industry-specific and relate to your chosen product/service. Note: Wikipedia and other Websites do not qualify as academic resources.

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

• Analyze the marketing framework including the concepts of the 5Cs, STP, and 4Ps.

• Examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing.

• Evaluate the basis for market segmentation and approaches to segmentation.

• Evaluate target customer segments and positioning products within these segments.

• Examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing.

• Develop branding strategies for existing and new products.

• Use technology and information resources to research issues in marketing management.

• Write clearly and concisely about marketing management using proper writing mechanics.

development strategy
Introduction
Some steps are followed when developing a branding strategy for any organization. These steps are as discussed below. First, the management has to consider the business plan for the home depot organization. The plan of activities helps to identify the type of growth the organization is after. The plan of activities also helps the team to identify the right place where they should start in branding themselves. These two strategies will contribute to forming a firm foundation for the development of a strong branding for the organization.
Secondly, identifying the client’s needs is paramount as it helps to know what the customer wants. Identifying customer needs is critical to the team will brand themselves in a way that they will contribute to filling an existing gap in the market. Thus the branding strategy provides to keep the team focused on their clients and can thus attract the identified audience. Keeping the defined audience will have a positive impact on the number of sales that the organization will be making (Baumgarth, et al, 2013).
Thirdly, it’s vital for the management to come up with brand positioning. Brand positioning is a statement that helps to show the difference between the home depot organization and other organizations that offer the same type of services and products. Showing their difference in their brands, makes the customer relate to the body and thus, the sales the company will make are likely to be high. Fourth comes to the development of the name of the organization, the logo, and the organization’s tagline. The name that should be used should help the customers to recognize the line of production that the body is found (Baumgarth, et al, 2013). It will also contribute to further show the differences between it and others of its kind. Additionally, the logo developed should be catchy as well and should enhance ease of identification of the production line for the organization.
Fifth, what follows is the marketing strategy. The marketing strategy chosen should appeal to the customers and should also be cost-saving for the organization without compromising on reaching the targeted audience. A cost-saving marketing strategy will help in enhancing the sales made by the team while achieving the highest percentage possible of the target audience. Sixth follows the website development stage. Developing a website will further help to create the difference from other organizations that offer similar services and products. The site should be created in such a way that it’s easy for the customers to navigate as well as interact with the customer care representatives on the other side (Baumgarth, et al, 2013).
The implementation, tracking, and adjusting of the relevant sections of the plan should be made. After the scheme has been set out, the identified changes should be done to enhance the brand experience further. These changes help to increase customer experience continuously (Young, 2014).
Marketing strategy
The marketing strategy should be adopted by the home depot organization should enable the organization to appeal to the public for them to purchase and consume their products. The most appropriate strategy is PR marketing. PR marketing helps in marketing the team while giving back to the society that it’s located. The PR actions that the organization might engage would include offering scholarships for bright students, carrying out charitable events such as helping the needy in the society, building various roads to ease access to given locations for the residents among others. These actions will charm the targeted customers to buying the products the Home Depot organization offers. Secondly, online marketing is another appropriate marketing strategy for the organization. Online marketing helps to reach a wider audience than another marketing strategy (Perreault et al, 2013). Reaching a wider target audience directly translates to increased sales for the group.
Position statement
It’s a branding statement that helps to set apart the activities of a given organization over the others in their line of production. For the home depot team, the best statement should read as follows. Our products are the safest in their class as they all come with built in electric current regulators. These regulators help to prevent the risk of the devices from being destroyed by surge electric current. Thus, our electronic devices have a significant service life compared to others from other organizations (Perreault et al, 2013).
Relevant consumer behavior
Home Depot team deals with the production of electronics. The body manufactures electronics such as refrigerators, blenders, iron boxes, oven, microwaves, bread toasters, television, music systems, laundry machines, dish washing machines among others. These electronics are mainly used by families and large organizations which are primarily in the hospitality industries. Thus, the consumer behavior of these targeted groups includes high consumption of service products. These customers are known to buy these items in bulk but after a considerable period. It’s thus important to carry out effective marketing to create a rapport with them for them to be Home Depot electronic repeat clients (Young, 2014).
Mission statement and company introduction
Our mission is to inspire and fulfill inner desires for our customers by offering lifestyles products which will enhance the quality of living, making it easier to execute your day to day tasks. The home depot electronic organization is an organization that mainly deals with the manufacturing of diverse electronic products. These electronic devices range from home use electronic to industrial use electronic devices. The organization is in the development phase of team growth. The home depot automatic organization mainly operates in the United States of America where it has more than 120 branches in various states.

 

Your assignment must follow these formatting requirements:

The specific course learning outcomes associated with this assignment are:

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric found here.

 

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