MKT 210 – Principles of Marketing: Reflection Paper

$12.50

MKT 210 – Principles of Marketing

Assessment Rubric for Reflection Paper

You can follow this suggested outline for your paper. If you use good business writing skills, (concise, direct, accurate) your whole paper need only be about two pages long. You can write more if you need to.

Paragraph I. Introduction

Paragraph II. How I selected my target market (LG1)

Paragraph III. Marketing Mix topic 1 (LG2)

Paragraph IV. Marketing Mix topic 2 (LG2)

(You may add more paragraphs if you choose to discuss more than two Marketing Mix topics).

Paragraph V. Discuss the Marketing Environment (LG3)

Paragraph VI. (Optional) Extra Credit

Please submit your paper as either a hardcopy in class, or email it to me as a Word attachment.

Learning Goal (LG) Description Point Range
Target Market Selection/LG1 Good:   Target market selection based on objective criteria (e.g., size, growth rate, pricing objective, etc.)

Needs Improvement (NI):   Target market selection is cannot be justified with a “business reason” (e.g., “chose university luxury trend follower because I am a luxury trend follower”)

0-20
Marketing Mix Tactics/LG2 Exemplary: Recognize/discuss 2 or more of these topics:

·         the connection between target segment wants/needs and product features.

·         cost of product features and effect on profitability of each backpack unit

·         price strategy must be consistent with target market buying characteristics

·         pricing strategy includes strategic objectives (volume or profit goals)

·         retail outlet selection must be aligned with pricing and product design strategy

·         retail outlet selection based on target segment reach metric

·         the relationship between managing costs (promotion and COGS) and units sold to achieve profitability

·         the connection between mass media advertising and sales is indirect.

·         mass media advertising is useful in establishing awareness and interest; retailer promotions are useful in stimulating demand (AIDA model)

·         promotion media decisions made using reach metrics

·         promotion spending decisions made in consideration of overall financial (cash) situation

·         promotion efforts evaluated using KPIs (message and interest indicators) and/or ROI

·         promotion activity done continuous or pulsing strategy (i.e., not random)

Good: recognize/discuss at least 3 topics

NI: recognize/discuss at least 2 topics

Poor: topics discussed are unrelated to the simulation

0-30
Marketing Environment/LG3 Good: Consider competitor actions as part of strategic decision-making. Respond to relevant market events; ignore others.

NI: copy competitor actions without own strategy. Respond to market events that are not relevant to own situation.

0-10
Advanced Strategy/LG4 Can explain why buyers from other customer segments purchase your backpack even thought you didn’t target them (segment crossover). Extra credit
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