You have several options when choosing a product o...


The Marketing Plan assignment gives you the opportunity to practice developing an integrated business and marketing strategy for a product or service of your choice. This activity will make the course come alive through the application of the principles from the textbook, course materials, and discussions. Assignments such as this also help you develop business-oriented communication skills.

The development of the marketing plan is an integral part of the course, and will require several weeks of research, critical analysis, critical thinking, and writing. Past students tell us the only way to do well on this project is to begin early and work on it consistently throughout the entire course.

You have several options when choosing a product or service for your marketing plan. Consider choosing a new product for a new company (your own) or creating a new product for an existing company. Perhaps you would want to do a product extension of an existing product. You might consider a different approach to marketing an existing service. You can target consumers or businesses. You may choose a product or service offered by your employer or your own business, or one from another organization; however, you cannot simply report on how a current product is marketed—it must be a product or market extension as outlined above. The marketing plan must be original work. Ultimately, to maximize your learning experience, choose a product or service in which you have an interest and about which you would like to see your product or service come to the marketplace. However, keep in mind any idea must be realistic and reasonably able to come to market within 18 months. Make sure there is information available about the industry and target market of the product or service you choose.

Remember that this is a marketing plan and not a business plan; you are not creating a business, but you are creating the marketing plan for a product or service. Thus, your focus should not be on the company or its products, but on how to market the product or service that you have chosen. Provide enough background and history to put the marketing plan in perspective. Do a comprehensive SWOT analysis with an in-depth and candid look at your internal and external environments. Establish your goals and objectives. Analyze the information developed, and only then begin defining your target market and specifying the specific marketing strategies. Do not simply report on how a company markets its goods or services. Instead, you should explain what type of marketing you would propose. Your instructor must approve your plan idea, which is due in Week 1 on the Marketing Plan Topic Form provided in Doc Sharing.

Guidelines

In developing your content, try to demonstrate clarity of thinking, understanding, an application of basic marketing principles, and a creative, but realistic, use of marketing tools. Explorations of your options and choices are an important part of the demonstration of your mastery of marketing concepts. There is seldom only one potential course of action in developing a real marketing plan; demonstrate that you have considered options and alternatives at each step in your plan and have chosen the best.

Please download and review the Marketing Plan Guide in Doc Sharing prior to beginning your marketing plan. Also, see the Sonic Marketing Plan Example and Exercises in the Appendix of your Kotler textbook. The questions asked in the exercises may help you further develop your marketing plan.

Marketing Plan Outline

1.0 Executive Summary

2.0 Situation Analysis

2.1 Market Summary
2.2 SWOT Analysis
2.3 Competition
2.4 Product (Service) Offering
2.5 Keys to Success
2.6 Critical Issues

3.0 Marketing Strategy

3.1 Mission
3.11 Value Proposition
3.2 Marketing Objectives
3.3 Financial Objectives
3.4 Target Markets
3.5 Positioning
3.6 Strategies
3.7 Marketing Mix
3.8 Marketing Research

4.0 Controls

4.1 Implementation
4.2 Marketing Organization
4.3 Contingency Planning

5.0 Conclusion

Paper Format

Every draft of the Marketing Plan assignment should be formatted per APA guidelines and include the following. Title page Page header and running head Table of contents (optional) Double-spaced text using Times New Roman, 12-point type font Headings and subheadings as listed above with each major section starting on its own page
In-text citations Reference page The Final Marketing Plan should be as long as necessary.The page count does not include the title page, table of contents, or reference page.

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