Bank of America – Final Project

Instructions

Part 1 – General Information and Situational Analysis

Section 1 – Company Background

• Describe your selected company or brand.
• Tell a brief history of the company.
• Summarize the core products and services the company offers.
• Identify direct current competitors.
  • Explain why they direct competitors.

Section 2 – SWOT Analysis (Links to an external site.)

• Complete a SWOT analysis.
• Propose the product or service line you want to develop a marketing plan for.
• Justify your proposal with a SWOT-based argument for why it warrants marketing investment.

Section 3 – Macro- and Microenvironment

• Analyze at least two elements from each quadrant of Table 8.1 in the course text as the micro- and macroenvironment factors that affect the company’s overall marketing strategy.

Part 2 – The Marketing Plan

Section 1 – Segmentation, Targeting, and Positioning (STP)

• Describe your segmentation approach for your proposed product/service.
  • Be sure to discuss these elements of the segmentation approach: demographic, geographic, behavioral, and psychographic segmentation approaches.
  • Provide rationale for this approach.
• Describe the target audiences or markets.
• Create a positioning statement.

Section 2 – The Marketing Mix

• Formulate the 4Ps for your proposed product/service:
  • Product
    • Describe your core product, extended product, and the product concept.
    • Explain how you plan to achieve competitive differentiation through creating customer value in four areas:
      1. Branding
      2. Packaging
      3. Support
      4. Quality
    • Price
    • Place
    • Promotion with a special focus on digital media and integrated marketing communications (IMC)

Section 3 – Global and Ethical Considerations, and Conclusion

• Identify three business or sociocultural considerations in translating your marketing plan for use in a foreign market.
• Discuss at least one policy/philosophy or idea regarding the company’s
  • corporate social responsibility (CSR),
  • green marketing practices, and
  • ethics and ethical marketing.
• Conclude with a summary of your plan and why it deserves to be funded.