MKT 500 Assignment 2: Part B: Your Marketing Plan
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Due
Week 8 and worth 400 points
For
this assignment, you will include Part A of your marketing plan which has
addressed the feedback from your professor. You will also need Steps 5-7 of the
Interactive Marketing Plan, which you have completed within the course shell.
In this final assignment, you will compile the previous assignment, addressing
the feedback from your professor, as well as adding the marketing strategies.
Note:
You may create and / or make all necessary assumptions needed for the
completion of this assignment.
Write
an eighteen to twenty (18-20) page paper in which you:
1. Revise your executive summary
from Assignment 1, based on the outcomes and implementation of your marketing
plan.
2. Develop your company’s mission
statement and company introduction.
3. Develop the company’s branding,
pricing, and distribution plan.
4. Provide the following marketing
strategy information:
a.
Classify
the company’s major competitors as inter- or intra-competitors. Categorize the
competitors’ major strengths and weaknesses.
b.
Develop
the differentiation strategy in relation to the closest competitor.
c.
Establish
whether the company’s intention is to be a leader or follower within the
industry.
d.
Assess
the level of impact that the salient macro-environmental issues (e.g., legal,
technological, social, and economic, etc.) and trends with which the company
must contend could potentially have on the company’s marketing strategy.
e.
Predict
the most significant trend to impact the business. Formulate a strategy for the
company to minimize or capitalize on this trend.
5. Construct an implementation
strategy for your hypothetical company in which you specify the essential
activities and responsibilities. Include a timetable for completion of each
component of your strategy.
6. Develop a five (5) year expansion
plan that includes future profitability and market share growth. Include
necessary graphs to explain your plan.
7. Specify two (2) social media and
/ or media tools that you would use as you develop your plan. Justify each of
your chosen tools.
8. Choose two (2) performance
standards, two (2) monitory methods, and two (2) financial controls that you
would implement that differ from the standards that you had provided in
Assignment 1. Justify your choices.
9. Assess the potential for your
company’s overall performance in relation to the marketing plan objectives.
10.
Suggest
the integrated marketing communications that are most relevant for your
marketing plan. Relate each marketing communication to your company’s
advertising strategy.
11.
Use
at least five (5) academic resources that address sustainability and monitoring
of effective marketing plans and determine the applicability for your
hypothetical company. These resources should be industry specific and relate to
your chosen product / service. Note: Wikipedia and other Websites do not
quality as academic resources.
Your
assignment must follow these formatting requirements:
Be typed, double spaced,
using Times New Roman font (size 12), with one-inch margins on all sides;
citations and references must follow APA or school-specific format. Check with
your professor for any additional instructions.
Include a cover page
containing the title of the assignment, the student’s name, the professor’s
name, the course title, and the date. The cover page and the reference page are
not included in the required assignment page length.
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