Final Project Overview
Final Project (30%): Individual students will prepare a 10 – 15 page strategy document on how to market a specific product to a specific target in the US Hispanic market. Points will be deducted for going far under the page requirement, not backing up arguments with relevant research, not having a clear understanding of the topic, etc.
The paper will include:
Executive Summary (1 2 pages) – 10 points
The executive summary clearly communicates the critical elements of the marketing plan so that it reads as a stand-alone document. You should do this after you have completed the marketing plan because it is the summary.
The length of the executive summary is sufficient enough to cover the critical information and can be no longer than two pages (one full page is ideal).
Situation Analysis (1 2 pages) – 10 points
Include information from surveys/interviews here.
Examine and compare a variety of perspectives in the global community
Information about the company or organization is thoroughly and clearly reported, including such things as the type of product or service, employees, company history, previous and current marketing efforts, current knowledge on customers, culture, competitors, political issues, technology and economy; distinguish one’s own cultural patterns
How does the company respond flexibly to multiple worldviews?
Competitor Analysis (1 – 2 page) – 10 points
Researched information about all major competitors or strategic groups is thoroughly and clearly reported.
The effectiveness of their communication platforms in terms of consumers cultural norms and values is analyzed.
The sources of information are provided.
Include any information that is considered to be important to know, but has not yet been obtained.
Marketing Objectives and Goals (1 – 2 pages) – 10 points
The marketing objectives and goals are clearly related to the company/organization mission.
Objectives and goals are clearly stated and appropriately quantified according to the culture. (i.e., can be measured)
Example of objective: To increase brand sales by 15% among Hispanic millennials by December 31, 2018.
Example of goal: To increase web traffic by 10% for sub-brand among Hispanics aged 18-35 by March 2, 2019.
Target Market and Positioning, both based on consumer insights, part of which could be from personal interviews (2 3 pages) – 10 points
Who are you marketing to?
As you know, saying “Hispanics” is too broad.
Identify and explain the potential benefits or conflicts arising from human differences within the current national or international landscape.
Based on the marketing strategy and situational analysis, the target markets are appropriately identified and described.
A positioning statement for each target market is identified and explained, and reasonable.
Example positioning statement: For Hispanic millennials who like craft beer, Proof’s Mango Wit Beer provides the right balance of flavor, alcohol content, and price. Proof’s beer-crafting technology is unrivaled in Tallahassee, using state of the art tools (such as nitro brewing) to deliver the best beer possible.
Marketing Strategy (3-5 sentences) – 7.5 points
The marketing direction that will frame marketing tactics of the marketing plan is clearly and specifically stated in 3-5 sentences.
The marketing strategy is logically linked to the culture, marketing objectives and goals
The strategy will also highlight cultural patterns and respond accordingly to the needs of the consumer.
Media Planning and Testing. Test of message and media approaches, which could be based on focus groups, personal interviews, etc (1 2 pages) – 10 points
Include information from surveys/interviews here.
Information about customers media consumption is thoroughly and clearly reported.
Cultural values must be addressed.
The source of data is clearly reported (i.e., secondary or primary data)
Company information and new data collected for the development of this plan is presented cohesively.
For new data that has been collected, include:
The method of collection, including sample size
Description of the sample
Data collection instrument used (Qualtrics, phone interview, etc.)
Include any information that is considered to be important to know, but that has not yet been obtained. (What would be helpful to know but you don’t have the resources to currently identify?)
Suggestions for the Evaluation of Effectiveness (1 2 pages) – 10 points
How will you measure the success of your plan? If you are in a corporate board room, how will you tell your manager that the marketing plan was successful?
Do you know that your plan has worked?
How and when do you evaluate the success of your marketing campaign?
What options will you have to address in terms of concerns or ineffectiveness in the plan?
Organization – 5 points
Written work is well organized and easy to understand
Sections of the plan are marked with appropriate headings
Tables and charts are appropriately used and easy to understand and contribute to the ease of reading the plan
Grammar, spelling, formatting – 10 points
Please note that if there are excessive errors regarding grammar, spelling, and formatting, more than ten points will be deducted from the final grade
The plan has been thoroughly spell-checked and proofread
There are very few to none grammatical or spelling errors
There are no formatting errors
Proper Citations – 5 points for correct citation of sources
Citations have followed APA formatting both in the body of the text and in the references section
Use of appendices – 2.5 points
Information is appropriately placed in either the main text or an appendix
Appendices are documented and referenced in the text.
Total: 100 points
You must do one of the following for your paper:
Interviews: If opting to do interviews, you will have to conduct a minimum of four interviews among Hispanics.
Surveys: You’ll need to conduct a survey with a minimum of 20 respondents.
Please enter your age.
In which state do you live?
What gender do you identify as? (Male, Female, Other, Prefer Not to Answer)
Which of the following best describes your ethnic background or heritage? (Non-Hispanic White, Hispanic, African American, Asian American, Native American, Hawaii/Pacific Islander, Other)
What is the highest level of education you have completed? (Elementary school, Middle school, High School, Some college/technical school, Bachelors/4-year degree, Post-graduate [Master’s/Doctorate], Prefer not to answer)
What is your employment status? (Options include Employed full-time, Employed part-time, Student full-time, student part-time, not employed, prefer not to answer)
Some of you also have also asked about survey tools. Your FSU student enrollment gives you free access to a great tool called Qualtrics, which many of you have already used in some form. You can access it at: https://fsu.qualtrics.com/
(Links to an external site.)
Links to an external site.
. It is very intuitive and should have everything you need. It will also compile results for you.
You should be asking five to ten questions related to your product in addition to the demographic questions, which I’ve provided below.
Some of you have also had some confusion when it comes to the demographic questions. To help you identify demographics with your survey, you should also include these questions in your survey. This will help you as you compile results.
TOTAL: 100 points
Should be typed in Times New Roman 12-point font
Paper will be double-spaced with one-inch margins
Should have an appropriate APA-style cover page with the projects and students information
Each section should have a subtitle to identify it
References should be properly cited within and at the end of the document, in APA format.
Wikipedia is not considered to be an appropriate source for this assignment.
Please refer to Google Scholar and the FSU Library tools.
Q: How much of my grade is this assignment worth?
A: This assignment is worth 30% of your final grade.
Q: What exactly am I supposed to be doing?
A: Picture that you are a marketer for a company or agency. Your goal is to develop a marketing campaign that targets the Hispanic market for a specific product. You have free reign over what product to write about; however, there are two guidelines to follow:
You must pick a product or service that already exists in the marketplace, and
You must market the product or service to the Hispanic segment.
This can be as specific or as broad as you want. For example, you may decide you want to market a product to bicultural Hispanics.
The end goal here is to create a marketing strategy that will engage Hispanic consumers
Q: Should I pick a company or make one up?
A: You must pick a company that exists. This will allow you to research the companys previous marketing strategies, existing products, and current target markets.
Q: Can I use a service instead of a product for my project?
A: Yes, you can. A service can also be considered a product (e.g., dry cleaning, Internet provider, telephone, delivery, etc.)
Q: I cant find anything that says why Hispanics need my product. What should I do?
A: Part of a marketers goal is to fill a gap in a consumers need. If you cant find direct information that says why Hispanics havent already adopted your product, look for other sources for other demographics. For example, if you cant find any articles that explain why Hispanics are less-likely to buy a Nintendo Switch, you could look for articles that show:
How inclined Hispanics are toward new technology,
How Hispanics feel about smartphones,
How many Hispanics have other gaming consoles, such as PlayStation and Xbox
Age distribution among the Hispanic demographic (i.e., generally older or younger?), and
Favorite pastimes of Hispanics when not working or in school.
If the data points align with your argument, you could suggest that Hispanics are not aware of the Nintendo Switch and require a targeted campaign to raise awareness. Then, based on the reasoning you’ve provided from your research and with what you’ve learned in the class, you can develop a campaign that will raise awareness among the Hispanic demographic.
Q: What do you mean by history of services?
A: Look at the history of the company and take a look at how long it has been around, what products it used to offer, any previous mergers, and the products that it currently offers. Basically, you want to look at the overall evolution of the company.
Q: What do you mean by use of appendices?
A: An appendix item is something that goes at the end of the paper. This usually is a chart, graph, case study, or additional relevant information that supports your paper but does not belong in the body. For example, if you are discussing why Hispanics enjoy a particular product, you might refer to a chart in your appendix that shows this particular data point.
Q: What format should I use for my paper?
A: Use APA formatting. You should be able to find plenty of resources to help you with this formatting. Also, Google Scholar makes it convenient for you to directly copy the citation portion into your paper when compiling your references section. Points will be deducted for not following this format.