AEM241-Component_Full_Final_Essay

AEM241-Component_Full_Final_Essay - Cornell University...

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Cornell University Women’s Lacrosse Marketing Plan T ABLE OF C ONTENTS Executive Summary ........................................................................................................................................ 2 Company Description ..................................................................................................................................... 3
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Introduction .................................................................................................................................................. 3 Market Summary .......................................................................................................................................... 5 Market Needs ................................................................................................................................................ 6 Strategic Focus and Plan ................................................................................................................................ 8 Situation Analysis ......................................................................................................................................... 10 SWOT Analysis .......................................................................................................................................... 10 Product Market Classification .................................................................................................................... 11 Industry Analysis ........................................................................................................................................ 12 Competitors ................................................................................................................................................ 16 Marketing Plan Objective ............................................................................................................................ 17 Strengths ..................................................................................................................................................... 17 Improving Weaknesses ............................................................................................................................... 17 Opportunities .............................................................................................................................................. 17 Guarding against Threats ............................................................................................................................ 19 Objective ..................................................................................................................................................... 19 Target Market ............................................................................................................................................. 20 Points of Difference ....................................................................................................................................... 21 Branding and Positioning ............................................................................................................................. 23 Marketing Program ...................................................................................................................................... 24 Product ........................................................................................................................................................ 24 Promotion ................................................................................................................................................... 26 Place ............................................................................................................................................................ 32 Conclusion ..................................................................................................................................................... 35 Works Cited .................................................................................................................................................. 37 E XECUTIVE S UMMARY The Cornell Women’s Lacrosse team was Ivy League champions and undefeated at home last year. There is no doubt the team will do just as well or even better in the Pg. 2
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coming seasons. Therefore, the team’s greatest asset is the ability to consistently deliver its product- an entertaining and exciting lacrosse game played successfully. The team benefits from having skilled personnel and young, talented players, but lacks a dedicated budget to market itself commensurately. Due to this, the team’s successes on the field don’t necessarily translate into greater awareness among the Cornell student body, the team’s target market. The key then, is to devise a way to market the team using a medium that is inexpensive, but effective in getting word of the team out to Cornell students. Such a medium would be cheap to use but has a large reach among the virtually 14,000 Cornell undergraduates, especially the 3,200 freshman that approximately compose each class. We propose having a tournament with prospective fans, a Play with the Stars event, used in conjunction with Facebook to promote the team. Play with the Stars would be held on North campus and at Ithaca High School to cultivate a relationship with students of the primary target market, as well younger students which the team could expand to reach. Facebook will foster this relationship with students. By allowing students to become Facebook “friends” with teammates, a greater level of closeness is created and students will not only know more about the team, but take pride in it and feel a greater sense of connection to it, the school and one another. Leveraging their competitive success, the Cornell Women’s Lacrosse team should use new outreach events to attract students in the target market at minimal cost, and avail themselves of an online network that is free, and wildly popular among Cornell undergraduates. C OMPANY D ESCRIPTION Introduction Pg. 3
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Big Red spirit On-campus ad campaign All-star players Fundraiser events Cornell University’s women’s lacrosse team was formed in 1972. Enrolled in the NCAA as a Division I team, the Big Red competes against some of the best college teams across the country. However, the team’s most important contests are games with other Ivy League teams. The team’s main goals are to win the love and loyalty of their current fans as well as attract more fans to their games. To fill Schoellkopf Field for their home games is the lacrosse team’s first and foremost objective. Like any sports club, their
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