Strayer MKt500 assignment 3

Assignment 3: Part C: Your Marketing Plan
Due Week 8 and worth 280 points
From the start of this course, you have accessed the Interactive Marketing Plan tool and used the
step-by-step guide to complete Part C of your marketing plan. You are required to submit a marketing
plan for a hypothetical product-based company. Your plan must include the company’s social media
strategy, and information collected from Steps 6-7 of the Interactive Marketing Plan, located in the course
shell. Note: Some elements may not be covered in the Interactive Marketing Plan and will require
additional research.
Note: You may create and / or make all necessary assumptions needed for the completion of this
assignment.
Write a six to seven (6-7) page paper in which you:
1. Develop the company’s branding, pricing, and distribution strategy.
2. Provide the following marketing strategy information:
a. Classify the company’s major competitors as inter- or intra-competitors. Categorize the
competitors’ major strengths and weaknesses.
b. Develop the differentiation strategy in relation to the closest competitor.
c. Establish whether the company’s intention is to be a leader or follower within the industry.
d. Assess the level of impact that the salient macro-environmental issues (e.g., legal,
technological, social, and economic, etc.) and trends with which the company must
contend could potentially have on the company’s marketing strategy.
e. Discuss the marketing research tools that you used in your marketing strategy.
3. Construct an implementation strategy for your hypothetical company in which you specify the
essential activities and responsibilities. Include a timetable for completion of each component of
your strategy.
4. Develop a five (5) year expansion plan that includes future profitability and market share growth.
Include necessary graphs to explain your plan.
5. Specify two (2) social media and / or media tools that you would use as you develop your plan.
Justify each of your chosen tools.
6. Choose two (2) performance standards, two (2) monitory methods, and two (2) financial controls
that you would implement that differ from the standards that you had provided in Assignment 1.
Justify your choices.
7. Assess the potential for your company’s overall performance in relation to the marketing plan
objectives.
8. Suggest the integrated marketing communications that are most relevant for your marketing plan.
Relate each marketing communication to your company’s advertising strategy.
9. Use at least five (5) academic resources that address sustainability and monitoring of effective
marketing plans and determine the applicability for your hypothetical company. These resources
should be industry specific and relate to your chosen product / service. Note: Wikipedia and other
Websites do not qualify as academic resources.