Branding strategy and advertising plan for a new target market

Create your branding strategy (position statement) for your new target market based on your situation analysis

Using the bank scenario as a guide, discuss the following:

Create your branding strategy (position statement) for your new target market based on your situation analysis. This will start to integrate your goals, your situation analysis results, and your target market.

Create high­level advertising and public relations strategies that support the position statement that is targeting your new market segment. This includes an overview of the main the way in which you will deliver your message to your audience (humor, logic, emotion).

Incorporate specifics regarding the digital or traditional marketing channels that will be used to deliver your message to your target market to increase both reach and frequency. This includes magazine titles, specific newspapers, or actual social media sites as examples.

Discuss why the selected advertising and public relations strategies are appropriate with respect to specific target segment penetration.

Develop and apply an understanding of how a market chooses goods and services.

Utilize research findings for new product development and market assessment.

Develop and apply an understanding of how a market chooses goods and services.

Integrate consumer behavior models into marketing strategies such as pricing and distribution models for both product and service markets.

Utilize research findings for new product development and market assessment.

Develop and apply an understanding of how a market chooses goods and services.

Utilize research findings for new product development and market assessment.

Develop and apply an understanding of how a market chooses goods and services.

Integrate consumer behavior models into marketing strategies such as pricing and distribution models for both product and service markets.

Utilize research findings for new product development and market assessment.

Develop and apply an understanding of how a market chooses goods and services.

Utilize research findings for new product development and market assessment.

Develop and apply an understanding of how a market chooses goods and services.

Integrate consumer behavior models into marketing strategies such as pricing and distribution models for both product and service markets.

Utilize research findings for new product development and market assessment.

Develop and apply an understanding of how a market chooses goods and services.

Integrate consumer behavior models into marketing strategies such as pricing and distribution models for both product and service markets.

Utilize research findings for new product development and market assessment.

An Overview of Your Role Moving Forward The steps that will need to be taken to complete this initiative are as follows:

Phase 1: Create advertising and public relations objectives that align to each of the 4 strategic goals. These represent the goals that you will achieve through the team’s efforts.

Phase 2: Identify a new target market, and create service and product offerings that are tailored to that segment by utilizing the marketing mix. You will also investigate appropriate communication channels to reach this market.

Phase 3: Create your branding strategy (position statement) for your new target market based on your situation analysis. This will start to integrate your goals, your situation analysis results, and your target market. This includes understanding, anticipating, and integrating plan components based on the potential impact of external influences (regulatory, economic, social, technology, etc.) that affect marketing.

Phase 4: Create a public relations piece that you will use that is based on the target market needs, and include specific measures to gauge if it is effective. This will include tracking from an ROI perspective. You will present a preliminary proposal to senior management in advance of the final presentation to the full board in Phase 5.

Phase 5: Give a final presentation to the bank president and the board with your overall recommendations. This will include how the strategy is integrated between the four components of the marketing mix.