Week 7 Assignment Template - Marketing Plan Part B

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Overview

In this assignment, you will continue to build a marketing plan for your hypothetical company. In this
part, you will focus on the company's branding strategy, primary target markets, and positioning
statement. Note: You may make all necessary assumptions needed for the completion of this
assignment.

Template Instructions

 Complete all five sections of this assignment template. Detailed assignment instructions are
provided in each section.

 Type all answers directly on this template. Read the instructions for each section and answer all the
questions using your own words and complete sentences. Note the required number of paragraphs
for each response. Do not simply copy and paste direct quotes from any source. Be sure to cite your
sources if you paraphrase or summarize other authors’ ideas.

 Ensure your responses reflect your knowledge from the course readings and other resources.
Provide a detailed rationale for your responses supported by evidence from resources.

 Review the assignment rubric to ensure you have completed all sections correctly before submitting
the template on your Canvas assignment page.

 Produce writing that is clear and well organized and applies appropriate SWS style. Your writing
should contain accurate grammar, mechanics, and spelling.

 Use at least two quality sources to support your writing. Choose sources that are credible, relevant
(within the last 5 years), and appropriate. Cite each source listed on your source page at least one
time within your assignment. For help with research, writing, and citation, access the library or
review the Library Guide.

 Save the file as: Lastname_Firstname_MKT500_WK7_Assignment and submit it through the

assignment link in your course. Note: create the audio portion of the assignment by following the
instructions PDF provided in the Resources section below.

This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS
assistance, including citations and formatting. Please refer to the Library site for all support. Check with
your professor for any additional instructions.

Resources

 Course Textbook

 Perceptual Map Maker

  How to Record Video or Audio Using My Media [PDF] (Note: Accessible in the assignment
Resources section of the Week 7 Assignment page of the course.)

SECTION 1:
INTRODUCTION
Instructions: Your answer in this section should be 1-2 paragraphs.
*In each section of this assignment template, you will click/tap in the indicated field to type your responses.
The field will automatically adjust in size as you type.

1. Explain the key components for this part of the marketing plan, including a re-introduction of the
company, and how the feedback received on Part A of your marketing plan will be used to improve this Part
(B).

Eco glow is a progressive organization that seeks to change the lighting market through

environmentally friendly products. Established on the basis of environmental consciousness and

technological advances, the goal of Eco glow is to provide the population with affordable sources of

lighting that do not compromise the environment and are in high demand in today’s world. When

climate change and environmental pollution are now burning issues all over the world, Eco glow sees

the importance of business in supporting sustainability. Our product range is the crucial answer to an

increased need for energy-saving appliances that have a minimal impact on the environment

(International Renewable Energy Agency [IRENA], 2023).

First, in Part A of the marketing plan, we prepared the stage for Eco glow’s market entry by

determining our key target markets and the first branding concepts. Concerning the feedback, the need

to sharpen the brand message so that it can have a greater appeal to the target consumers was noted. In

particular, it was proposed to focus on the corporate values that we pursue at the company by

enhancing references to such values as sustainability and innovation within the framework of branding

activities. This feedback has been useful in the formation of Part B of the marketing plan, where our

major areas of concentration will include branding, the target market, and a positioning statement that
will make Eco glow unique from the competitors. In this way, by identifying our brand message with

the preferences and requirements of our target consumer, it is possible to achieve satisfactory market

position and consumer loyalty for an extended period of time (Nascimento & Loureiro, 2024).
SECTION 2:
BRANDING STRATEGY
Instructions: Your response in this section should be 2-3 paragraphs. Use complete sentences.

2. Develop a branding strategy for your product or service that includes the brand name, logo,

slogan, and at least one brand extension. For each item, be sure to include a detailed rationale for

your choice. (Note: you can include photos or other visuals for your logo by pasting them below the

text entry field.)

Branding is at the heart of Eco glow's strategy to establish a distinct and easily recognizable

presence in the competitive lighting industry. The brand name "Eco glow" was thoughtfully

crafted to reflect the company’s dual commitment to environmental consciousness and the

creation of efficient lighting solutions. The name itself conveys our focus on sustainability and

innovation, which are core to our mission. Studies have shown that consumers today are more

inclined to support companies whose brand identities align with their values, particularly those

promoting a positive corporate image and clear purpose. As noted by Rubio, Villaseñor, and

Yagüe (2017), brand names that closely connect with a company’s mission are more likely to

foster brand loyalty among consumers, making "Eco glow" an ideal name to attract and retain

environmentally conscious customers.

Our logo further embodies the values and mission of Eco glow, visually reinforcing our

commitment to sustainability and innovation. The logo features a simple yet powerful design:

a green leaf encircling a glowing light bulb. The green leaf symbolizes nature, growth, and

ecological balance, while the light bulb represents innovation and the bright future that
sustainable living can bring. The use of these symbols creates a strong and memorable brand

image that resonates with our target audience, who prioritize environmentally friendly

practices in their purchasing decisions. As emphasized by Nascimento and Loureiro (2024), a

logo that effectively communicates a company’s core values is crucial in setting a brand apart

from its competitors and ensuring constant visibility in the market.

Eco glow's mission and vision are succinctly captured in the slogan, "Lighting the Path to a

Greener Future." This slogan is designed to raise awareness about the importance of

sustainability while offering a hopeful and actionable message. It underscores the belief that

sustainable practices do not require radical changes but rather incremental steps that, when

adopted globally, can lead to significant environmental benefits. Choosing Eco glow means

choosing to support a company that is deeply committed to the well-being of the planet. This

message resonates strongly with our target consumers, who are actively seeking green

products that align with their environmental values. In addition to our existing product range,

Eco glow plans to introduce a solar-powered outdoor lighting line, further extending our

commitment to green energy. This brand extension not only diversifies our product offerings

but also reinforces our position as a market leader in sustainable lighting solutions (IRENA,

2023; Euromonitor International, 2023).

SECTION 3:
PRIMARY TARGET MARKET: AUDIO PODCAST
Instructions: Your response in this section will include a target market analysis (3-4 paragraphs) and a link to a
60-90 second audio podcast with the corresponding written script. Your audio podcast will be recorded
directly on your Canvas assignment page and linked in this template. Refer to the Instructions PDF linked in
the assignment Resources section of the Week 7 Assignment page in the course.

3a. Analyze your primary target market (audience) for your product or service. In your analysis, be sure to
include:
 The demographic profile (age, gender, ethnicity, etc.), psychographic, behavioral, and geographic
profiles. (Note: refer to the Week 4 discussion and the exercise on buyer persona)
 The relevance of the branding materials.
(Note: Target market and segmentation choices are perfect topics for scholarly references to substantiate your
position. Search in the library for peer-reviewed journals).

The Eco glow’s core consumer group is consumers who have a specific focus on environmental

issues, are aged between 25 and 45 years, and are mostly dominant in urban areas with middle to high

income levels. Another demographic that he notes as being receptive to brands is those that focus on

aspects such as sustainability and design innovation. They tend to be young, well-educated, technical

sophisticates who are well-informed about the ecology and the consequences of their chosen products.

They are also more likely to purchase environmentally superior goods and services and are willing to

spend a little more for them. The study by NMI Solutions published in 2023 reveals that consumers in

this age group from urban areas are now much more conscious of sustainable products in their

purchase decisions, making them the right target market for Eco glow’s products.

From a psychographic point of view, our target audience involves those people who care about the

environment and those who at least want to try to live an ecological life. Such consumers are very

active in seeking information on the effects of products on the environment and are very willing to

change their behaviors in order to have fewer carbon footprints. They greatly appreciate the brands’

authenticity and tend to trust and remain customers of firms that have similar principles. First, the
change of the company’s brand colors to green, as well as the choice of materials for the lamps in

accordance with Eco glow’s policy on sustainability, proves that we would be an ideal match for this

market segment (Rubio et al., 2017).

As for territories, initially, only metropolitan areas in North America and Europe will be of interest to

Eco glow. These regions contain consumers with a very high level of concern for the environment and

a great need to adopt sustainable lifestyles. Large markets equally have higher incomes and education

standards, which are linked to a better disposition to spend on environmentally friendly produce. Also,

with these regions bearing heightened urbanization, there is an opportunity for Eco glow in the market

that is becoming conscious of the environmental impact of an urban setting (Euromonitor

International, 2023).

In marketing the product, Eco glow will target its marketing directly at the target market and use a

combination of online and offline marketing techniques. These are such things as web banner

advertisements, the use of social media to post information, and content marketing with a focus on

sustainability. We will also enter into cooperation with environmental organizations and attend fairs to

strengthen the company’s position as a provider of energy-efficient lighting. At Eco glow, we are

committed to positioning the company as a brand that goes beyond the expectations of its target

clientèle, and this will be a major strategy for achieving a permanent client’ base and corresponding

sustainable growth.

3b. This week you learned about companies who use audio (and podcasts specifically) to deliver their
message to their target audience. In this part of your assignment, you will create a “mini” podcast episode to
promote your product or service to your target market.
 Create a script and record a 60-90 second podcast (audio file) that promotes your product or
service. The goal is to use the podcast to reach your primary market (audience) described in 3a.
  Refer to the Instructions How to Record Video or Audio Using My Media [PDF] to help you record your
audio podcast. Don’t worry! You can record the audio more than once before you submit it.
Paste a link to your audio file: (Note: After you paste the link, hit the space bar to make the link clickable)
Click or tap here to enter text.
Enter your written script, with SWS citations, in the field below.

“Hi everyone, and welcome to the premiere episode of the Eco glow podcast! In today’s episode, we

will be discussing our sustainable lighting solutions that can help illuminate your home while saving

the earth! At Eco glow, we believe that the future should be sustainable, starting with the light that

will grace your home. Our products are eco-friendly because they’re energy efficient and bring a

warm, natural touch to any space. Thank you for joining us on the journey towards a brighter future!

For more information, visit our website at HYPERLINK

"http://www.ecoglow.com"www.ecoglow.com ."

SECTION 4:
POSITIONING STATEMENT
Instructions: Your response in this section should be 3-5 paragraphs. Refer to your textbook and the
perceptual map maker link in the required resources for the assignment.

4. Create a positioning statement based on a perceptual map that shows the company's position against
its competitors. Include the following required components in your response:
 Describe what is unique about your hypothetical company.
 Describe your competitors and how they are different from your company.
 Create a perceptual map that shows your company’s position against its competitors. You may use
Microsoft Word, PowerPoint, or other equivalent software to create your perceptual map. (see
Figure 1 example below) Copy and paste your perceptual map into the answer field below to
include it with the rest of your response.
Figure 1. Perceptual map representing Your Company Name in relation to competitors XYZ company, ABC
company, and AAA company.
 Create a positioning statement, based on your perceptual map, that includes a brief description of
your target audience, the one company that is your closest competitor, and why your hypothetical
brand is better than the closest competitor.

Eco glow is performing in the market as an organization, offering qualitative and, at the same time,

environmentally friendly lighting systems and equipment incorporating the latest innovations. Our

positioning strategy is based on the best knowledge of current consumer trends, whereby consumers

no longer want products that are just functional; they want brands that speak their values and

support a cause. This concern is well met by Eco glow, which has a portfolio of attractive and

sustainable lighting products. To say that we have embraced sustainability here as just a slogan or

as part of our marketing strategy is a lie; it is a fundamental practice in our company when it comes

to product design, customer relations, and even company management (Nascimento & Loureiro,

2024).

Another valuable aspect that distinguishes Eco glow from its competitors is our wide range of

products. Unlike SolarGlow and GreenLight, whose businesses are limited to area specifications

with a focus on outdoor solar lighting, Eco glow has a complete line of indoor and outdoor

illumination products. This makes it possible for us to meet the diverse needs of the residential
lighting market and offer consumers an all-in-one package as far as lighting is concerned.

Moreover, most of our products are eco-friendly, durable, and energy-efficient, saving consumers

the cost of frequent replacements. It shows the focus on long-life and sustainable elements, which is

a big plus in a world where the majority of products are made with the intent of becoming obsolete

within a couple of years (IRENA, 2023).

In the perceptual map below, Eco glow is placed alongside potential rivals such as SolarGlow and

GreenLight. In this map, the position of Eco glow is special since it is situated in an area with the

highest quality but also an affordable rate at the same time. This positioning is justified by trends

highlighting that established consumers value brands that address their needs while at the same time

reflecting sustainable values. To ensure customers across all groups are attracted to its products

without compromising on their environmental friendliness, Ecoglow opts for high-quality products

that are sold at reasonable prices. Such positioning not only makes us distinguish from numerous

competitors in a global market but also enjoys the support of our target customers, who are seeking

not merely functional values but also social values in products (Euromonitor International, 2023).
Eco glow’s positioning statement:” As an environmentally friendly company, we focus on

providing customers with attractive and economic lighting products, and as such, Eco glow comes

in as the brand that illuminates your home both from the inside and outside as we contribute

towards a better world through environmentally friendly lighting products. Like our brand,

SolarGlow is also a solar company, but our products are not only restricted to outdoor lighting since

Eco glow is your home’s complete lighting solution.”

SECTION 5:
SOURCE LIST
Instructions: Use the space below to complete your source list. Be sure to utilize the Strayer Writing
Standards. Refer to your assignment instructions above to ensure you have the required number of sources.

International Renewable Energy Agency (IRENA). (2023). Renewable energy statistics 2023. Retrieved

from HYPERLINK "https://www.irena.org/Publications/2023/Jul/Renewable-energy-statistics-2023" \t

"_new"https://www.irena.org/Publications/2023/Jul/Renewable-energy-statistics-2023

Nascimento, J., & Loureiro, S. M. C. (2024). Mapping the sustainability branding field: Emerging

trends and future directions. Journal of Product & Brand Management, 33(2), 234-257.

NMI Solutions. (2023). Sustainability consumer research. Retrieved from

https://nmisolutions.com/research-reports/sustainability-reports/sustainability-consumer-

research-copy/

Rubio, N., Villaseñor, N., & Yagüe, M. J. (2017). Creation of consumer loyalty and trust in the

retailer through store brands: The moderating effect of choice of store brand name. Journal

of Retailing and Consumer Services, 34, 358-368.

Euromonitor International. (2023). Megatrends: Understanding sustainable consumers – Key

insights. Retrieved from https://www.euromonitor.com/article/megatrends-understanding-

sustainable-consumers-2023-key-insights
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