STrayer JWI 518 Assignment 4: Final Marketing Plan

Assignment
4: Final Marketing Plan

Due Week
10, Day 7 (Weight: 35%)

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. 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 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 Page
•
Table of Contents
•
Executive Summary
o
Create a high-level summary
of the plan’s content and purpose.

•
Description of
Product/Service
o
What is it, what does it do?
o Who owns it?
o
What Product Life Cycle stage
is it in?

•
Value Proposition
o
Why would a customer buy it?
o What is the value that
it delivers?

o Create
a 2-3 sentence value proposition statement encompassing information above. This
statement is used for marketing messaging campaigns.
•
Features and Benefits
o
Create a list of features and
benefit to customer.
•
Target Markets
o What markets are
currently targeted? What is recommended?

o What
approach is being taken (undifferentiated, differentiated, concentrated, or
micromarketing)?
•
Competitive Analysis
o
Who are major competitors –
pricing, features, benefits, differentiators, target markets?
o
Compare your product/service
to major competitors.
o Suggestion:
create a table with comparative competitive information (include your product
at the top); on the next slide, provide overview bullet points analyzing what
the comparative information shows.

•
SWOT Analysis
o
Refer to the SWOT analysis
instructions in your textbook.

•
Marketing Objectives
o 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
o
How will your objectives be
measured?

•
Pricing Strategy
o
Identify the price for your
product/service.
o
Explain why the price better
supports the marketing objectives.

•
Target Markets
o
What are the target markets?
Explain.
o
Should current target markets
be expanded? Explain.

•
Distribution Strategy
o
Do you recommend direct
channel, indirect channel, or multiple channels?
o
Do you recommend intensive,
selective, or exclusive distribution and why?

•
Marketing Promotion (try to
use a combination of traditional and contemporary tools)
o
List promotion ideas that
support marketing objective(s).
o
Which tools will be used to
deliver promotion initiatives?
o
Align promotion initiatives
to appropriate target markets.
o
Which initiatives should be
included in each stage of the Product Life Cycle?

•
Budget
o
Estimate the cost of the
marketing campaign.
o
Create a marketing budget.
Allocate the appropriate cost to each initiative.

•
Reference Page

Grading
for this assignment will be based on the following grading criteria.