PRINCIPLES OF MARKETING

ANALYZING MARKETING STRATEGY: AN OPTIONAL RESEARCH REPORT

Principles of Marketing may research and prepare an Optional Research Report.

Broad Goal

The broad goal of the Optional Research Report is to give the student an opportunity to describe, analyze and evaluate in depth the marketing strateg¬ies and tactics employed in marketing a specific product or service. In the process of the special research, the student uses the basic conceptual framework of marketing management in developing the marketing strategy analysis.

The Conceptual Coverage and Organization of the Optional Research Report
The Optional Research Report should be organized into five major sections with the following content: (an approximate page length for each section is included)

Section I: Describes the basic product or service in straightforward terms. (1/2 page)

Section II: Describes the "real business" of the firm as expressed in "user-benefits" provided to the buyer/user of the product or service. (1 page)

Section III: Describes what the firm is actually doing in terms of its current marketing strategy. (4 pages)

Section IV: Presents Competitive Analysis of Three Firms

A. Systematic Comparison of Three Companies: Target Company vs.

Two Competitors on Key Strategic and Tactical Issues

B. S.W.O.T. Analysis Summary of Target Company-Strengths, Weaknesses, Opportunities and Threats ( 5 1/2 pages)

Section V: Presents recommendations outlining how the firm could improve its marketing strategy and tactics and its market position longer term. (4 pages)

Section VI: Lists each contact name, corporate title, address and telephone number of target company and competitors. (Not included in report page count)

The framework of the 3 "C's' (Customer, Competition and Company Mission and Objective) and the 4 "P's" (Product, Price, Place/Distribution, and Promotion/ Marketing Com¬munication), the managerial variables manipulated by the marketing manager, can provide a valuable organizational structure for the strategy description.

Topics to be Researched

The student is totally free to select any product or service that is interest¬ing to the student. Based on past student experience, several observations are relevant.

The topic should have basic appeal to the individual student. That appeal could be based on:

• Interest in a new or unique concept, product or service.

• Exploration of a particular industry or product service as a potential part time or longer term employment career.

• A business owned by the student's family.

The company should ideally be Tri-Cities based or have a strong operation in the Tri-Cities area to guarantee availabil¬ity of adequate management interaction and company information locally for the student's research.

Historically, topics have covered a broad range of products and services including marketing strategies of local ethnic restaurants, trucking/local moving companies, the major city and suburban newspapers, boutiques within the major department stores, smaller specialty stores, educational institutions, sports teams, night clubs, health clubs, hospitals, professional serving organizations, e.g., accountants, physicians, dentists, chiropractors, etc.

Methodology

The methodology for the research project requires:

• "Hands on" involvement with the product or service in the market place, and

• In depth interviews with the operating managers of the firm. Therefore, it is essential that the topic selected have a strong Tri-Cities area presence for involvement with the operat¬ing managers.