Brand Management Synopsis Co-ops are non-traditional third-party plans that came into existence with the passage of the Patient Protection and Accountable Care Act of 2010. There were 23 co-ops in operation; however, the vast majority failed to remain financially solvent and ended up shutting their doors not long after going into operation. While there are many reasons for the failure of these companies, marketing and branding challenges have been cited as one reason. In this scenario, a small group of venture capitalists has been approached to make a sizable investment in forming a new health insurance co-op to replace Iowa’s now-defunct CoOpportunity Health. While working for an advertising firm that has been hired to develop an overall marketing and branding strategy (plan) that will ensure the successful launch. Then the growth of the co-op should the VCs elect to invest their capital in this venture. This graded activity is designed to familiarize you with concepts typically associated with strategic marketing to include, but necessarily limited to: target marketing, advertising and promotion management, brand management, social media, website and search engine marketing/search engine optimization, Internet marketing, and marketing research to include analytics and qualitative analysis.
1. Produce a plan to promote a firm’s brand.
2. Create an advertising and promotion strategy that employs an appropriate mix of message objectives and methods.
3. Analyze qualitative and quantitative data to better understand consumer preferences and purchasing trends.
To complete this assignment, consider using scholarly and credible sources to look up topics related to branding, advertising, and promotion management; target marketing; digital marketing platforms; and the principles of Internet marketing.
Also, consider topics associated with the strategic importance of brand and its’ management; representation import of branding to consumers; activities involved in managing an advertising campaign; and marketing analytics. This is neither intended nor to be construed as an “allinclusive” listing of topics related to this assignment but may serve as a good starting point for reviewing the existing literature. Support with 3 references.
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