The Reflection on the Marketing Plan Assignment
The company chosen by our team is Sun-Rype, a leading beverage company based in Canada. By doing the assignment, I have learnt a lot from our mistakes, realizing that it is important to understand the task and the concepts before working on a marketing assignment.
In assignment #1, we lost heavily in SWOT analysis, because we were not very clear about the concepts including SWOT per se. Before getting myself familiar with the SWOT, I went straight to the questions with perceptions, or rather misunderstandings. We made mistakes in the opportunity part and the threat part for the SWOT analysis, because we did not know that they should be external factors. We wrote a lot about internal factors. Even though we had very good insights into the analysis, we went a wrong direction.
This time we study the key concepts closely beforehand in assignment #2. For example, for the positioning strategy, it combines the summary of our target segment and the way we differentiate the products from others. Then, we sought the key elements for the task. We selected the target segment first, and found the features that rendered Sun-Rype outstanding. Understanding the concepts properly helped us enormously by guiding us in navigating the difficulties. That is pretty much why we got 90% for assignment #2.
It is a great experience: thinking precedes acting. That lesson would benefit my future career as an accountant as well. As an accountant, I also have to meet clients’ demand and solve their problems in a meaningful way rather than just finishing the work. Even though it is a marketing assignment, I learn something that would benefit me in the long run.