Strayer JWI518 Assignment 4 Final Marketing Plan

Assignment 4: Final Marketing Plan

 Due Week 10, Day 7 (350 points)
Incorporate the concepts you have learned throughout the course to create a formal marketing plan. The marketing plan will consist of a 20-35 slide PowerPoint deck on a selected product or service. The Marketing Plan should be targeted to an executive audience or a potential investor. Use each week’s study of principles and concepts to begin drafting your Marketing Plan as you progress through the course.
Step 1: Select a product or service and submit your choice by the end of week 2 Select a product or service that you can obtain sufficient marketing information on or if you are interested in starting your own business you may elect to present a product or service that you intend to personally market. If you decide to use a nationally recognized product/service, you may incorporate their existing marketing campaigns into your plan, however, you must add your own marketing communications ideas as well. Or if you work for a small organization that does not have a formal marketing plan, you may use this opportunity to develop one.
Step 2: Conduct a situational analysis Research and apply the weekly concepts to your chosen product or service to complete a situational analysis and begin developing your Marketing Plan. Analyze the company’s website, social media outlets, and review other external sources for information. You may want to interview a company representative. Marketing plans based solely on information found on the company’s website will be incomplete and unsatisfactory.
 Marketing Plan Slides

• Use the following outline to build your Marketing Plan.

• • Title Page
  • Table of Contents
  • Executive Summary
    • High level summary of the plan’s content and purpose
    • Description of Product/Service

• • What is it, what does it do
  • Who owns it?
  • What Product Life Cycle stage is it in?

• Value Proposition
  • Why would a customer buy it?
  • What is the value that it delivers?
  • Create a 2-3 sentence Value Proposition statement encompassing information above. This statement is used for marketing messaging campaigns.
• Features and Benefits
  • List of features and benefit to customer
• Target Markets
  • What markets are currently targeted? What is recommended?
  • What approach is being taken (undifferentiated, differentiated, concentrated, or micromarketing)?
• Competitive Analysis
  • Who are major competitors – pricing, features, benefits, differentiators, target markets
  • Compare your product/service to major competitors
  • Suggestion: Create a table with comparative competitive information (include your product at the top); next slide provide overview bullet points analysis of what the comparative information shows.
• SWOT Analysis
  • Refer to the SWOT analysis instructions in your textbook
• Marketing Objectives
  • What are the current marketing objectives or what are your suggested objectives (e.g. build brand awareness, increase market share, capture a new target market, increase revenues, etc.)
• Measure
  • How will your objectives be measured?
• Pricing Strategy
  • Identify the price for your product/service
  • Explain why the price better supports the marketing objectives
• Target Markets
  • What are the target markets? Explain.
  • Should current target markets be expanded? Explain.
• Distribution Strategy
  • Do you recommend direct channel, indirect channel, or multiple channels?
  • Do you recommend intensive, selective, or exclusive distribution and why?
• Marketing Promotion (try to use a combination of traditional and contemporary tools)
  • List promotion ideas that support marketing objective(s)
  • Which tools will be used t deliver promotion initiatives?
  • Align promotion initiatives to appropriate target markets
  • Which initiatives should be included in each stage of the Product Life Cycle?
• Budget
  • Estimate the cost of the marketing campaign
  • Create a marketing budget.Allocate the appropriate cost to each initiative.
• Reference Page