Marketing Plan
Individual Assignments - Marketing Plan.
Review individual marketing plan assignment. The major written assignment for this course is to write a marketing plan, utilizing the resources and examples of The Marketing Plan Book. Students will work on this project individually. Students will develop a hypothetical company that operates in the US and one or more foreign markets. The marketing plan needs to involve a product that has a service component to the product. As students determine whether they will offer an existing product or a new product, consider the following questions:
o Is there a current product on the market that could benefit from updating or enhancing it? o Are there market trends for which a new product will satisfy the needs and wants of prospective customers?
o Establish marketing goals and objectives.
o Additionally, you may want to ask yourself the following questions:
▪ Does the product fit with your interests? ▪ Is this a business product or a consumer product? ▪ Does it have market potential and is this market profitable? Is there a high likelihood for its success? ▪ Is it unique? What competitive advantages will this product have over existing products on the market?
▪ Is it feasible? How practical will it be to sell and distribute the product to the market?
Initially each student will need to choose a company name, write a brief strategic mission statement (Focus and the purpose of the hypothetical company), and decide on possible countries for market expansion and methods of market entry.
The individual marketing plan will be developed in separate graded segments; Foreign Market Analysis, Market Analysis and Product Strategy, Pricing Strategy, IMC Strategy, and Marketing Channel Strategy. The requirements for each component are outline in Assessment 2, 3, 4, 5, and 6, respectively.
Review individual marketing plan assignment. The major written assignment for this course is to write a marketing plan, utilizing the resources and examples of The Marketing Plan Book. Students will work on this project individually. Students will develop a hypothetical company that operates in the US and one or more foreign markets. The marketing plan needs to involve a product that has a service component to the product. As students determine whether they will offer an existing product or a new product, consider the following questions:
o Is there a current product on the market that could benefit from updating or enhancing it? o Are there market trends for which a new product will satisfy the needs and wants of prospective customers?
o Establish marketing goals and objectives.
o Additionally, you may want to ask yourself the following questions:
▪ Does the product fit with your interests? ▪ Is this a business product or a consumer product? ▪ Does it have market potential and is this market profitable? Is there a high likelihood for its success? ▪ Is it unique? What competitive advantages will this product have over existing products on the market?
▪ Is it feasible? How practical will it be to sell and distribute the product to the market?
Initially each student will need to choose a company name, write a brief strategic mission statement (Focus and the purpose of the hypothetical company), and decide on possible countries for market expansion and methods of market entry.
The individual marketing plan will be developed in separate graded segments; Foreign Market Analysis, Market Analysis and Product Strategy, Pricing Strategy, IMC Strategy, and Marketing Channel Strategy. The requirements for each component are outline in Assessment 2, 3, 4, 5, and 6, respectively.