importance of brand equity

importance of brand equity assignment

Instructions/Descriptions

importance of brand equity assignment

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Overview

You presented the importance of brand equity to your organization and analyzed the implications of reopening the park. Your presentation was well received by the company management.

Now, it’s time take a step toward developing the strategic marketing plan for the reopening of the park. As a regional director of marketing, it is essential for you to know how you are going to apply various marketing principles and theories to design an effective and relevant marketing plan for the reopening of the park. This includes various aspects such as understanding the target audience; identifying the right and relevant marketing methods to communicate with target audience; using product, place, price, and promotional strategies to attract the target audience; and so on.

You have been provided with the following target audiences:

• Primary Market: Families with children (ages 6–18) with an average annual family income of over $75,000 per year
• Secondary Market: Teens, ages 15–18

Write a memo to your CMO detailing how you will use the four Ps in your marketing efforts.

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The considerations should be such that customer and business perspectives are well balanced. The company is open to ideas showing creativity and innovation but does not want to reinvent the wheel completely.

Prompt

Refer to the  CMO Memo for Target Audience  and create a consulting report describing how the four Ps can be used to attract existing and new customers back to the U.S. Park Southeast when it reopens.

For the purposes of this assignment, you will include the following in your consulting report.

1. Describe the plan to market the product to the identified target audiences.

• What communication strategy will you use for the target audiences, regarding the park services?

2. Describe the role of place in attracting customers back into the park.

• Identify the appropriate communication method to share information about the safety measures you have taken.
• How will you plan a marketing campaign around “convenience of use” as your unique selling proposition (USP)?

3. Determine the pricing strategy that should be considered to drive new and existing customers.

• How will you communicate the value of your offering through an effective pricing model?

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4. Describe two promotional events aimed at your two target audiences designed to drive attendance.

• Include one promotional event for each of the two target audiences. This element requires you to use your own creativity or previous exposure to promotional events.

Guidelines for Submission

Submit a 2- to 3-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins. Consult the  Shapiro Library APA Style Guide  for more information.

importance of brand equity assignment

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