Part B Your Marketing Plan

Assignment 2: Part B: Your Marketing Plan

MKT500 Marketing Management

Introduction

To succeed in branding a company must understand the wants and needs of its customers and potential customers. This is done by integrating brand strategies through a company’s point of contact with the public. A company’s brand resides within the hearts and minds of the consumer, client and potential prospects. It is also the experiences and perceptions some of which a company can change, and some perceptions a company cannot change. A strong brand is important as the competition for customers intensifies daily. It is vital that a company spend time investing in defining and building their brand. A company’s brand is the initial piece in a company’s marketing communication and one a company should not be without. The brand is a promise to the consumer that the product they are purchasing will live up to the company’s mission and philosophy. A company should recognize that the brand is not about reaching your target market to choose them over the competition; however it is about attaining your potential customers to see the company as the only one that provides a solution to their problem.

Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension.

When a company is planning to enter a very competitive market it may be difficult when looking for a strategy to brand its product. It is important that a company evaluate all the variables in order to make a sound decision. A company will develop a branding name, logo, slogan and a brand extension for each market the company is interested in. Your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors’. Your brand is derived from who you are, who you want to be and who people perceive you to be

To successfully out brand the company’s competitors, Kayani Kakes will have to battle for the hearts and minds of the consumer. Which she could and would because of her age and her slogan being “A kid that bakes!” Her logo would be an animated picture of her holding a custom cake with a playful font for the name. The company’s branding strategy has to be compelling, attractive, and unique among competitive offerings. Kayani Kakes will extend her brand buy adding Kayani Kakes Jars. This will be a new exciting product that will allow consumers who can’t afford the cakes to have them in a smaller serving. Having the slogan “Kakes in a jar” would bring attention to Kayani Kakes. This will have consumers curious to see how is having a cake in a jar possible. Kayani Kakes will create a memorable tagline as well as live up to company’s products and services. The company will deliver on its promise of creating good quality cakes and cupcakes at reasonable prices. The company will stay away from using

competitors’ previous ideas and promises. By doing so, it will set Kayani Kakes apart from the competition. With values set, the branding strategy is ready to be established.

Assemble a marketing strategy for your product, and determine an appropriate time table to implement your plan.

Kayani Kakes will seek to communicate the message that the company offers a higher quality product relative to cakes and cupcakes currently available whether the product is locally or worldwide thus creating a dual branding strategy. Kayani Kakes will create a domestic branding strategy by implementing STP which is segmentation, target, and positioning. Segmentation, in marketing a commonly utilized at the customer level however in domestic branding, it will be useful for Kayani Kakes to see states and countries as segments. This would allow the company to focus on its primary target group in all parts of the world. Kayani Kakes wants to be known all over and wants consumers to fly to Illinois just to have her cakes and cupcakes. Segmentation is the cornerstone of marketing-almost all marketing efforts in some way relate to decision who to serve or how to implement positioning through different parts of the marketing mix. (Perner, 2013)

Kayani Kakes will create a positive and emotional connection in the market and will do so by remaining true to the company’s core values, consistently advertising the message clearly to keep the target audience engaged, and adapting to the business climate. Creating a positive

emotional association in the market is very important and will be built over time however it can create a want and desire by the mere mention of the brand, product, or service. (White, 2005)

The company will conduct objective and comprehensive branding research that entails the clarity of the strengths and weaknesses of the company, the target audience and the competition as well as the current status of the market and the future expansion of the line. Kayani Kakes will discover as much information as possible on the intended target group such as who they are and what their needs and desires are, income, and shopping habits whether in a grocery store or with independent companies. By gathering detailed information, this will allow the company to understand the target market and give ideas for what communication medium would engage the intended market group. Other research that would be helpful to the company would be finding out what the competitors offerings are like and how does Kayani Kakes offering compare, and why would a consumer purchase the company’s product over the competitor? Once the company has figured this out, the recipe for a winning brand strategy has begun.

Kayani Kakes will assess the promise of the brand. The brand statement, often called the brand promise or proposition, is a derivative of branding research. (White, 2005) The brand promise must be clear, engaging, and presented in simple context relatable to the consumer.

Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position.

Kayani Kakes is unique and narrow because there’s not a lot of pre-teens that are baking at a young age and have their own business. Brea’s prices aren’t low but aren’t high either. Kayani Kakes definitely stands out from the Walmart’s and Costco because it’s a company ran by a twelve year girl who is passionate and following out her dream. Consumers are willing to suppose and invest in Brea’s business and future rather than giving an establishment money that already has a buzzing name. People love to be a part of a great movement or investment. Knowing once the company goes worldwide that they can be the ones to say I supported her when she was just a preteen and when she just started the company goes a long way for most consumers.

Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement and marketing strategy are right for the identified target market.

I think the main reason why the brand name, logo, slogan, brand extension, as well as the positioning statement and marketing strategy are right for the identified target market is because she’s a kid. Brea wanting to be a company that is known worldwide she has to be able to reach those targets outside of Illinois. She has to research what other states are offering and what the going prices are for the same things she’s doing. By using the STP, she will be able to target and position herself for success.

Develop your company’s mission statement and company introduction.

Kayani Kake is dedicated to providing our customers with the basic concept of good value, consistent quality, and excellent service. Kayani Kakes believes that custom cakes should be from special and brings joy and excitement to a person and their special occasion. Our cakes and cupcakes will be filled with an abundance of love and boxed in custom boxes. Along with the mission statement, Kayani Kake has established company goals to focus on selling the best quality product and service. This philosophy will be demonstrated in each custom made cake or cupcake catered to the customer’s. Supplies will be of the highest quality and there will be no cutting corners.

Kayani Kakes is a trendy, custom cakes and cupcakes business dedicated to providing high-quality cakes and cupcakes to a variety of customers. We concentrate on good quality of products as we maintain the focused differentiator strategic position in the food industries. Our products are priced fair and predicated on quality of inputs, phenomenal flavor and taste, unique design and customer service. We maintain a friendly, creative, and fair working environment that welcomes diversity, hard work, and new ideas. Kayani Kakes brings their customers great tasting baked custom cakes and cupcakes with great homemade recipes and consistent quality.