work

10 pages not including introduction pages or references. 

STRATEGIC MARKETING PLAN

INTRODUCTION

This assignment entails development of a comprehensive strategic  marketing plan for a new product or service that is ready to “go to  market”. A Project Template is provided that allows you to organize your  work in increments and see how the sections come together to produce a  comprehensive plan. 

PRODUCT/SERVICE

This assignment requires application of concepts learned to build a  strategic marketing plan for a new product or service that is ready to  “go to market”. You will not be allowed to mimic plans or ideas from  larger or already “in-place” campaigns. You must develop the business  concept in its entirety. 

  • Describe the new product or service.  
  • Discuss the qualities that make this product/service new to the  marketplace and the rationale for your decision to pursue the concept.  Be sure to pick a product or service that is ready to market. If you are  developing a new product, assume that the development phase is over and  you are ready to launch the product into the marketplace. 

OBJECTIVES/MISSION STATEMENT

Create a Mission Statement. State your short-term MARKETING  objectives (one year). Assume that the product/service is ready to  launch at the beginning of the year (planning and testing have been  completed).

  • Marketing objectives include goals for sales, profits, market share (as examples)  
  • Objectives need to be quantifiable. Use the SMART  acronym—simple, measurable, achievable, relevant, and time-specific—in  formulating your objectives. An objective with a 100% goal is not  acceptable 

TARGET MARKET

Identify your target market. Provide a specific demographic profile  and rationale for this decision. Another source that may help you: The  US Census Bureau’s American Fact Finder. Consider the size of the market  and its purchasing power. Research is required to back-up your  selection and to provide statistics to show that it is a viable market.

COMPETITION

Analyze your competition. Who are they? Who are the biggest players?  How large is the market? What are the trends/forecasts in the industry?  How does your product/service fit in? Business Source Complete in the  Library is a good tool for this section; it may be accessed under Find  Articles & eBooks.

PRODUCT/SERVICE FEATURES

Provide a brief overview of the product or service.

  • State the features of your product/service. Show how it’s innovative  and different. It may be unique because of the area in which you plan  to market it.  
  • Discuss legal and ethical implications that could affect the marketing process. This will require research. 

CORE STRATEGY

Discuss your Core Strategy and make sure to connect it to your  Mission & Objectives. Include a discussion on Product/Service  Positioning.

MARKETING MIX: COMMUNICATIONS & PROMOTION

The Marketing Mix is the set of decisions about communications and  promotion, price, channels of distribution, and customer relationship  management. An integrated marketing communications (IMC) approach  delivers a clear and consistent message to your consumers and is  connected to your Core Strategy. 

  1. Discuss the aspects of the IMC. (The elements of the communication  mix include: advertising, direct marketing, sales promotion,  publicity/public relations and personal selling.) Define each and  discuss the pros and cons of the individual elements.  
  2. Provide a detailed description of your IMC approach. Explain  your rationale for choosing or rejecting the specific elements (include  applications to the earlier research section). What changes do you  expect to make as the product/service matures?  
  3. Describe the message you wish to communicate based on your core  strategy. Explain your rationale for the message. Formulate how you  will communicate with your target market? Be specific. How will the  internet be used in your IMC approach?  
  4. Select and explain the most suitable method for measuring  advertising effectiveness. Your decision must include research to back  up the selected method. Be sure to explain why this is the most  effective method to measure the effectiveness of your marketing  campaign. 

MARKETING MIX: PRICE

Discuss what pricing objectives you would consider for your  product/service. The Objectives should be based on the various theories  presented in marketing literature and take in to account competitor  pricing. Including background on value proposition, positioning, and  target market is necessary. All of these components provide rationale  for the chosen pricing scheme.

MARKETING MIX: CHANNELS OF DISTRIBUTION

Channels of Distribution: Specify the type of distribution channel you will use and include rationale. 

MARKETING MIX; CUSTOMER RELATIONSHIP MANAGEMENT

Customer Relationship Management -Detail how you will incorporate CRM  into your plan. Be sure to include a discussion on the role of  technology that will be used to support your CRM.

CONCLUSION

REFERENCES

The assignment requires the use of ARTICLES from the library’s  full-text databases. Articles are found in periodicals. These are not to  be confused with eBooks or Reference Books. The most popular databases  in marketing are: ABI Inform Collection, Academic Search Complete, and  Business Source Complete.

Your report MUST include a reference list. All research should be  cited in the body of the paper. In-text citations and corresponding  references should be included in your paper. For more information on  APA, please visit the APA Lab. The paper should be written in third  person; this means words like “I”, “we” and “you” are not appropriate.  The use of direct quotes is discouraged, but may be used sparingly in  appropriate situations.

Grading will be based on content, application, research, mechanics  (APA format, spelling grammar, and punctuation), and  style (organization, readability, and using your own words). 

Please submit your assignment.

Get a 10 % discount on an order above $ 100
Use the following coupon code :
WIZARDS35