Starbucks

Starbucks 

Paper details Prior to working on this assignment, you need to choose an industry and select a brand in that industry. This brand will be your focus for much of the remaining work in this class. I recommend you choose a brand for which you are NOT the target. The SWOT analysis you will find in week 3 is the first step in this project. If at any point you want support with your paper or with your writing, please reach out to set up a time for us to talk. Preamble to Project: In its simplest form, the strategic function of marketing is to create, communicate, and deliver a message of value to a target marketvia the marketing mix of: price,product, promotion, and place (how it is distributed). This strategic function (Marketing) works in concert with the other functional areas of an organization to develop synergies that align with mission. Understanding that competition exists in the marketplace, effective strategic marketing recognizes both the internaland externalforces that require sound decision-making in the face of this changing climate. Ultimately, sound strategic marketing requires: the understanding of what the organization’s sustainable competitive advantage is then creating tactics based on that knowledge to: position BRAND in a way that it competes to be unique in a way that is meaningful to its target consumers. A brand offeringis the perception the market has of the brand, based on many sources of stimuli in the communication model. This brand offering is both functional(utilitarian) and psychological(hedonic) in how the market perceives it. The consumer will consider what they will give up (money) versus to what they will get (utilitarian and psychological benefits). Strong brands have superior financial performance because they manage their brand in such a way that they optimize this simple formula within the category (among competitors). Project Purpose:is to use the developed competencies of the course in an applied format that leverages the theories, concepts, and insights to demonstrate your mastery of strategic level thinking when it comes to accessing a brand…i.e. MBA strategy vs. undergraduate tactics. In order to provide a comprehensive synthesis of the material covered over a 5 week period, certain milestones will be created each week so the final product will largely be completed by term end