MARKETING PLAN PART 2

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MARKETING PLAN PART 2
PRODUCT STRATEGY
 Describe the product/service and the need it satisfies for the target market. o What are the features and benefits of each product offering?
o Where are the products/services in the life cycle?
 Describe the branding strategy and the brand (logo) and how it relates to your product. The description of the logo should include, at a minimum, the product’s name, trademark, color, shape, packaging, labeling, and any characteristics that you deem relevant.
PLACE (DISTRIBUTION) STRATEGY
 Describe the distribution strategy and how it relates to the target market. Determine the distribution strategy in terms of your target market, location, and selection of distribution channels.
 Determine which of the channel distribution paths is most appropriate for your product?
 What is your level of distribution intensity?
 What are the physical functions that will be required for distributing your product?
PROMOTION STRATEGY
 Describe the IMC strategy and how it will appeal to your target market. You must include traditional and new media in your promotion plan.
 Describe your promotion objectives and explain each. How will each accomplish your objectives?
 What type of advertising, public relations AND promotions will you use? Explain your choices – why did you choose them.
PRICING STRATEGY
 Pricing strategy – you can choose more than one, but make sure it makes sense with the type of product or service that your company offers. What is it and explain why you chose it?
 Competitor’s prices vs. Your prices. Create a chart with the difference in pricing with your closest competitor (need to compare with only 1 competitor from Part 1).
IMPLEMENTATION, EVALUATION, AND CONTROL
 Describe how you will implement and evaluate the plan.
o How will the marketing organization be structured in order to implement the plan? o What specific activities must take place? Who is responsible for these activities? o What is the implementation timetable?
o What are the performance standards?
o What monitoring procedures (audits) will take place and when?
The report will essentially cover all topics in the outline plus an executive summary and bibliography.
The project will be presented to the class the week prior to the final exam week. Twenty (20) minutes will be allotted to each team. Each member will participate in the presentation. Develop appropriate visual supports.
 The report will be in Microsoft Word (.doc or .docx), typed, double-spaced, Times Roman or Arial, Font 12, 1” margins, APA citations and references. DO NOT SUBMIT A GOOGLE DOCS LINK!
 Each PART should be between 8-10 pages. The total plan will be between 16-20 pages.
 Include a cover page with the name of the company, names of all team members, Professor’s name, course title, course name and number and date. The cover page and reference page are not included in the page count. Insert a heading for each area of the report. For example, type COMPANY DESCRIPTION and then write a detailed description.
 The complete plan should have no less than ten (10) quality references. Note: Wikipedia and other Websites do not quality as academic resources. Your textbook is IN ADDITION to the references required.

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