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For all written papers, I require these to be submitted in APA 6th edition and include a title page, abstract and reference page/s, which never count towards any page requirements.
Don’t just summarize material. Use some critical thinking and analysis.
A comprehensive marketing plan for a product of your choice. Please submit an outline that includes the product you plan to market.
Here is the project that will be due in week four.
MARKETING PLAN ACTIVITIES
ACTIVITY 2.1: Elements of a Marketing Plan
In Chapter 2, you learned that marketing planning drives the activities of the marketing manager and you were provided a framework for marketing planning. Before you move further through this course, it is important to be sure that you understand the flow and content of a typical marketing plan.
1.Read the annotated marketing plan example presented in the PDF below.
Marketing Plan Sample (84.0K) http://highered.mcgraw-hill.com/sites/dl/free/0077389786/809910/MarketingPlanSample.pdf
ACTIVITY 2.2: Situation Analysis
In Chapter 2 you also learned about the key situation analysis areas of external macro-level environmental factors, competitive forces, and internal environmental factors that marketing managers must consider in marketing planning. You also saw how this information can be conveniently summarized and portrayed in a SWOT analysis.
1.Using the chapter discussion on situation analysis along with Exhibit 2.10 as a guide, develop a short list of internal strengths and weaknesses and external opportunities and threats. Focus on issues that you believe will be most important to your marketing planning over the next year or so.
2.Exhibit 2.10 suggests that you consider the four different scenario combinations of the SWOT analysis to begin to brainstorm possible strategies. Based on what you know at present, develop one idea for a marketing strategy that might be appropriate for each of the four situational scenario combinations represented in the exhibit—that is, one strategy that uses internal strengths to take advantage of external opportunities you have identified; one strategy that uses internal strengths to avoid external threats you have identified; one strategy that takes advantage of opportunities by overcoming internal weaknesses you have identified; and one strategy that minimizes internal weaknesses and avoids external threats.
ACTIVITY 2.3: Thinking Globally; Marketing Plan Tasks
For any company doing business in a global market it is essential to consider the unique elements of that market in developing the marketing plan. Consider the discussion of global marketing in Chapter 1 as you:
•Identify possible global markets for a new product.
•Determine essential information needed to assess the market opportunity.
Keep in mind that specific marketing strategies will be presented throughout the book. However, it will be important to keep the global marketing discussion in mind as you develop your marketing plan.
ACTIVITY 3.1: Plan for a CRM System
In Chapter 3, you learned about the value of CRM in fostering a customer-centric culture and establishing a relationship-based enterprise. At this point in the development of your marketing plan, the following steps are needed:
1.Establish the objectives of your CRM system with regard to customer acquisition, customer retention, and customer profitability. Pay particular attention to driving high customer satisfaction and loyalty among profitable customers.
2.Map out the CRM process cycle you will employ in your business. Identify all the relevant touchpoints you plan to utilize—both interactive and noninteractive.
3.p. 79
Prepare a set of guidelines on the ethical handling of customer data, with a focus on avoiding misuse and theft.
4.Consider the reasons for CRM failure identified in the chapter. Develop an approach to ensure that each can be avoided in your firm.
ACTIVITY 3.2: Metrics
1.Select appropriate metrics for use in your marketing plan.
2.Prepare action plans in support of your marketing plan. For each action plan be sure to list budget items, and then aggregate these into an overall budget for your marketing plan. Also, be sure to specify relevant controls.
3.Select and justify the forecasting approaches you will employ in your marketing plan.
4.Develop expected-case, best-case, and worst-case scenarios for your marketing plan.
ACTIVITY 4.1: Identify Critical Information
This exercise asks you to identify the critical information needed to create the marketing plan. In that regard it is important to evaluate existing information (internal inside and secondary data) as well as new information gathered through primary research. This assignment includes:
1.Catalog internal sources of information available to you inside the organization and what information you will receive from each source.
2. Identify secondary data sources and the specific information you need from each source.
a. List sources.
b. Date.
c. Assess the relevance of the data to the project.
3.List primary data needs to create the marketing plan. Then develop the specific instruments (focus group questions, surveys) that you will use later in the marketing plan.
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