MKT 701 Marketing Strategy Course Project
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MKT 701 Marketing Strategy Course Project
Course Project – Case Background
Note: The company and innovation are hypothetical, but form the basis for the first and second portions of the Project. You may also use the Application Forums in weeks 2 and 3 to help build the first portion of your project paper.
The project is an individual assignment. Do not share your paper draft with another person. Please read the following (hypothetical) scenario.
MKT 701 Marketing Strategy Course Project
Course Project – Background
An investment company has successfully financed the growth of a firm that has catered to industrial and commercial clients in the solar industry for the past 7 years.
MKT 701 Marketing Strategy Course Project
The investment company is now interested in financing the development of a new strategic business unit which will be associated with this firm, though run independently. The new SBU will target ultimate consumers. The investment firm has developed a rough outline of short-term and long-term corporate goals for the consumer products divisions, which are listed below.
- During the 2021 calendar year, launch the consumer products SBU with its first solar-thread based product.
- Through 2021-2025, launch at least one new consumer solar-based product annually.
- By 2025, achieve $25 million in sales in the consumer products division.
- By 2030, sell consumer solar products in all 50 states.
It is expected that additional short-term corporate goals will be added as the strategic planning process for the consumer products SBU evolves. The existing industrial and commercial segment division offers little of benefit to the new venture, which is why a new a SBU is being developed. The industrial division currently sells direct to commercial and industrial clients using their own sales force. They do not use wholesalers or distributors, and they do not sell to retailers or sell to residential clients. Their sales force will not work for the consumer SBU.
MKT 701 Marketing Strategy Course Project
Marketing is minimal in the industrial/commercial SBU. Salespeople attend select energy tradeshows targeting industry and commercial clients. The industrial/commercial SBU’s website promotes the industrial and commercial products sold. The industrial/commercial SBU has no logo and little effort is made at branding. The industrial/commercial SBU does not invest in social media, online advertising or offline advertising.
Last year’s sales in the industrial/commercial SBU were $15.5 million dollars. Profits were $ 1.25 million dollars. Sales and profits have grown steadily over the past seven years, and the investors and board are happy with the commercial/industrial division’s progress. They plan to continue investing in the growth of the commercial/industrial division and the majority of last year’s profits will be reinvested into that division. No financial support will be provided by the existing industrial/commercial SBU to the new consumer SBU. The consumer products division is expected to sink or swim on its own, aside from the initial capital investment and carry-over funding until sales begin bringing in revenue. For all practical purposes, the new consumer SBU will operate as a separate company, totally independent of the existing commercial/industrial SBU.
MKT 701 Marketing Strategy Course Project
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Consumer Products Division – The Future
As indicated in the corporate goals, the investors are interested in tapping into the consumer market, but in a non-traditional manner. The board has decided to develop a new consumer products division that will function entirely separate from the rest of the firm. In other words, the new strategic business unit will function as a separate company. The new SBU should have its own company name, and each product marketed will have its own brand name. At this time, there are NO plans to offer solar panels to residential consumers due to unfavorable cost-benefit analysis. Do NOT use solar panels as your project idea!
The Investment Company board is also extremely reluctant to enter the apparel market. Initial research has shown that solar jackets have been tried by other manufacturers, and have ultimately failed. The Investment Company board also realizes that fashion branding is critically important to the marketing of clothing, such as jackets, sweaters, and pants. The budget available for the new consumer products SBU is insufficient to create a communications campaign capable of developing the necessary brand image to market clothing. Therefore, do NOT use jackets, pants, or sweaters as your solar project idea! Different ideas for specialized clothing must be approved through your coach or Dr. James.
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