14 Aug PLAN A:You will create a fictional start-up company that serves the U.S. market

PLAN A:You will create a fictional start-up company that serves the U.S. market with a product or service.Write a one to two (1-2) paragraph journal entry in which you:1. Provide a detailed description of your company. The description should include, at a minimum, the company’s name, its history, founders, business purpose, and mission.2. Describe, in detail, the product or service the company produces or services. Include trademark, color, shape, packaging, labeling, and any characteristics that you deem relevant.PLAN B:You will now consider who your customers are and identify your market segment.It is vital that you clearly identify your target customers within your marketing plan. Knowing your target customers will help you to:· pinpoint where you should spend your advertising budget· the type of campaign you intend to run, and· Ensure that your marketing message speaks the customer’s language (based on their needs and wants, demographic, location, ethnicity, etc.).Write a one to two (1-2) paragraph journal entry in which you:1. Analyze the business customers / clients that you wish to target. Your analysis should include, but not be limited to, their:a. Demographic profile (e.g., age, gender, ethnicity, etc.)b. Psychographic profile (e.g., interests, routine, habits, etc.)c. profession (e.g., income, occupation, education)d. geographic location (e.g., country, region, city, rural, urban, climate)e. Precise wants and needs as they relate to the products and / or services you offer.2. Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources. Note: Insert the information from the completed Journal 2 entry into “Section 2: Targeting Customers” in the provided Marketing Plan Template (located in Week 1)PLAN C:You will now complete your secondary market research and consider what distinguishes your company from your competitors, their products, and / or the price of their products and services.Use the Internet to research your customer demographics and market segment from Journal 2. Consider what you think you know versus what you know to be true based on research from reports, publications, course content, etc.Write a four to six (4-6) paragraph journal entry in which you:1. Describe your unique selling proposition (USP). Next, explain the key aspects of your business, products, or services that make them unique when compared to your competition (e.g., Southwest Airlines’ USP is providing customers with low airfare without compromising service and comfort).2. Describe the marketing objectives of your company. Your marketing objectives should, at a minimum, address potential customer profile and market segmentation. Explain the manner in which you conducted your secondary market research.3. Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources. Note: Insert the information from the completed Journal 3 entry into “Section 3: Unique Selling Proposition” in the provided Marketing Plan Template (located in Week 1).PLAN D:You will now consider your company’s strengths and weakness, along with your product or service price.Use the Internet to research strategies for conducting a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis. Based on your company’s market information, consider the strengths and weakness of your company and its products or services.Write a four to six (4-6) paragraph journal entry in which you:1. Determine the key strengths and weaknesses of your company, as well as both the primary opportunities and threats that it faces within its industry.2. Discuss your critical steps within your supply-chain and operational system. Explain the key aspects of your strategies for producing and distributing your products and services to both your stores and customers. Determine whether you will use an outside vendor or complete the work in house.3. Analyze the company’s pricing strategy relative to its pricing objective. Examine major internal and major external factors that could potentially affect the pricing of the company’s products or services.4. Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.PLAN E:You will now consider mechanisms by which your customers will purchase your products and / or services (e.g., online, storefront, direct sells) and the primary manner in which you intend to reach new customers (e.g.,TV, radio, social media, special events).Consider the marketing materials that you intend to use. According to the textbook, marketing materials are collateral used to promote your business or products. Promotional strategy may include free trial offers, money-back guarantees, and buy two (2) for the price of one (1) type of deals. Write a five to seven (5-7) paragraph journal entry in which you:1. Determine the distribution strategy relative to your target market, location, and selection of distribution channels. Indicate whether or not you will leverage the following strategies: a.use stores located in different regions b.sell online c.hire a sales team to sell directly to suppliers and door-to-door2. Recommend three (3) strategy options that you could use in order to get your product or services out to your customer base.3. Outline your main marketing goals for promotions, offers, and giveaways. Discuss the key types of marketing materials that you intend to develop and share.4. Propose three (3) action steps that you can use to move your plan forward. Consider how, when, and who will be involved in the execution of this plan.5. Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.

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