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Assignment 3: Promotional and Advertising Strategies
Select one (1) of the following categories of products to research: sports apparel, automobiles, home furnishings, or televisions. Use the Internet to research at least two (2) companies within the selected product category. Take note of the leading companies in this product group, as well as the types of marketing, pricing, and consumer-oriented promotional strategies that these leading companies within the product group use.
Write a six to eight (6-8) page paper in which you:
1. Compare and contrast the promotional strategies used by two (2) different companies for a similar product within the category that you selected.
2. Recommend two (2) ways in which a company within the selected product group could use marketing information to differentiate itself in the marketplace to gain an advantage over its competitors. Provide a rationale to support your recommendations.
3. Propose two (2) uses for consumer-oriented promotions that could assist a company in both the short and long term for the product group that you selected. Provide a rationale for your response.
4. Analyze the strategic manner in which the leading company in this product group has made its pricing decisions by using one or more of the four (4) pricing objectives. Suggest two (2) actions that other companies within the same product group may take in order to differentiate themselves and gain a competitive advantage. Provide a rationale for your response.
5. Determine the most effective advertising medium for a company in the selected product category. Support your response with two (2) examples of the effectiveness of the chosen medium.
6. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia does not qualify as an academic resource.
Your assignment must follow these formatting requirements:
1. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
2. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.