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Unformatted text preview: Spring 2009 Baylor Marketing Challenge MKT 3305 Principles of Marketing This project is a great opportunity to apply what you are learning and develop your leadership skills. What is the Spring 2009 Baylor Marketing Challenge? You and your teammates are marketing consultants charged with developing an innovation for The Hershey Company. Your proposal will be presented within a strategic marketing plan that your group will work on and present at the end of this semester. Finalists for the Spring 2009 Baylor Marketing Challenge (across the classes) will be awarded an additional 30 points (3% of final grade) and have the opportunity to present to Hershey managers/executives. You will start by focusing on current or potential Hershey customers and exploring their unmet needs. Your goal is one of the following: (1) attract new customers to The Hershey Company, (2) increase sales to current customers, and/or (3) improve satisfaction/loyalty of current customers. Your marketing initiative may target business or consumer customer segments. Your innovation may involve a (1) product, a (2) service, or a (3) marketing program (ex. advertising/promotion campaign, relationship/loyalty initiative, or Hershey’s corporate reputation). This document describes the three components of this project: A. Strategic Marketing Plan/Presentation (100 points, 10% of total grade) B. Interim project milestones (125 points, 12.5% of total grade) C. Team member peer evaluations (75 points, 7.5% of total grade) A.1 Strategic Marketing Plan Your Strategic Marketing Plan should articulate your group’s proposal in a dynamic fashion and provide a compelling story. There are many ways to do this. For various perspectives see: - Chapter 2 in your textbook- http://www.knowthis.com/tutorials/marketing/marketingplan1.htm- an excellent guide- The AMA website http://www.marketingpower.com/content1029S0.php- also excellent- These sites give you a check-list of generally-accepted categories and their descriptions to consider ; the content of the final plan is up to you. High-level Project Essentials- Be customer-oriented, creative, strategically sound, and financially attractive. - Serve an express or latent need of some key target segment for Hershey that has been carefully researched. Demonstrating this part is critical .- Be well-thought out from vision to implementation and show substantial effort to estimate “ballpark” financials. The logic and basis for financials should be laid out plainly. - Be candid about the inherent risks of your proposal and the key assumptions and critical success factors the proposal hinges upon.- “Fit” with the current thrust of Hershey’s mission/strategy. i.e., plans to sell off the candy brands and become a fast-food franchisee won’t fly! That said, innovative ideas that push the envelope are encouraged to be tested....
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This note was uploaded on 04/26/2009 for the course MKT 3305 taught by Professor Blocker during the Spring '07 term at Baylor.
- Spring '07