14 Aug Assignment 4: Final Marketing Plan Due Week 10, Day 7 (350 points) Incorporate

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 PageTable of ContentsExecutive Summary High level summary of the plan’s content and purposeDescription of Product/Service What is it, what does it doWho 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 customerTarget 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 marketsCompare your product/service to major competitorsSuggestion:
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 textbookMarketing 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/serviceExplain why the price better supports the marketing objectivesTarget 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 marketsWhich initiatives should be included in each stage of the Product Life Cycle?Budget Estimate the cost of the marketing campaignCreate a marketing budget.Allocate the appropriate cost to each initiative.Reference Page

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