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MKT 500 Part B: Your Market Plan
In last assignment 1, I initiated the development of a marketing plan for an organization holding expertise in the kitchenware products, i.e., Homage Company that started its operations at Alberta, Canada in 1971. The plan was focused on the expansion plan of the organization in the North America region. Now, this assignment is a continuation of the last one which will focus on branding elements of the organization such as brand image, name, logo, and extension. The assignment will also develop a positioning statement of the organization using a perceptual map for depicting the current position of the organization in the market. Finally, the paper will provide a complete rationale relating to the availability of attractive values in the logo, brand, sign, and name of the organization to attract targeted customers.
Improvements in the Plan
There was a limited focus on the competitors in the plan which was an obvious weakness. An organization needs to consider the offering of its competitors in a significant manner, i.e., quality and pricing to make sure that it can offer differentiated products to its customers carrying a certain potential of grabbing the customers interest positively (Bloch, 2011). The marketing plan provided limited information relating to the roles and responsibilities of the employees for the implementation of the marketing plan efficiently. The marketing plan needed to involve the roles and responsibilities of the marketing team along with the communication protocol to ensure that the collaboration of the team is carried out appropriately to meet the objectives of the marketing plan (Hunt & Derozier, 2004).
Branding Strategy
Brand Name: Homage
Brand Logo:
Brand Slogan: Adding taste with quality to your foods
Brand Extension: Honest Kitchenware will be the extension of the brand that is expected to offering products at low pricing as compared to the original products by the Homage brand. The quality of the products coming under this brand will still be better than the quality of other branded products available under this price category (‘cookware,’ 2013). However, the quality of the products coming under this brand will be slightly compromised as compared to the quality of original Homage products due to the consideration of pricing factors.
Primary and Secondary Market of the Organization
Demographic Profile, e.g., age, gender, ethnicity
Primary Market: Unemploy ……………
