UMUC MRKT354 Part 1 IMC Plan

28 Jun UMUC MRKT354 Part 1 IMC Plan

Question
Integrated Marketing Communications Plan (15% of final grade)

Development of an IMC plan is the major graded component in this course. It will give you hands-on experience with the intricacies of marketing communications that achieve marketing & communications objectives.i is also a skill that you can list on your resume. An IMC plan is the next step after the developments and approval of the marketing plan for the organization. It provides the tactical level of detail to the marketing communications portion of the marketing plan.

The IMC plan you prepare in this course will be staged in three parts, allowing you to make modifications to submitted parts. This will ensure your final IMC plan, incorporating all three parts, assesses your understanding and application of best practices in marketing communications. Building an IMC plan takes planning, research, strategic thinking, and hard work. Do NOT make the mistake of working on sections of the IMC plan just before they are due. That lack of planning and commitment to the course will be reflected in your grade. Be sure to reference the Marketing Toolkit for PowerPoint presentations.

Background on the complete plan: Your final IMC plan incorporating all three parts will be submitted as a PowerPoint presentation at the end of week 8. All three parts of the final plan will include all the following:

– Executive Summary, Title Page, and Table of Contents

Identifying the target market

Determining communication objectives

Designing the message

Selecting the media

Selecting message source

Selecting feedback metrics to measure success of the IMC plan

Setting the promotion budget

Shaping the overall promotion mix

Integrating the promotion mix

Evaluation Metrics for the final IMC plan

Bibliography

Exhibits

Each of these topics is discussed in your readings, which you should reference to ensure your Power Point presentation demonstrates you can apply marketing and communications concepts to your IMC plan.

The strategic and promotion mix choices must be supported with rationale from the readings or outside sources. Each slide should contain enough details to understand how you arrived at your conclusions. These details can come from external sources; or when information is not forthcoming from your best ‘guesses.

Part 1 (worth 15% of final grade)

Product or service selection due end of week 1

Part 1 PowerPoint presentation due end of week 3

Select a consumer product or service you wish to explore in this course. You might want to use the product you selected in MRKT 310’s marketing plan if you recently took that course. You might want to pick a product that you regularly use and to which you can assume you are a member of the primary target market. You need to ensure that the product lends itself to multiple promotion mix tools. Therefore, products of large, well-known, publicly traded companies work best. You can select a brand instead of a specific product. Be sure you understand the difference before proceeding.

Do not assume that what you believe is true for the product is true for all members of the target market. Do your research and be unbiased in your analyses. Remember, a product can be a good, a service, or an idea, or a combination. Submit your product choice to your faculty member in the assignment folder.

Once your product choice has been approved, prepare a PowerPoint presentation for part 1 as follows:

1. Title slide—name of product, your name, date, course information, plus part 1 table of contents

2. Description of product, providing details on what consumer need the product fills, the physical description, any service components that come with it, as well as any after sales support such as guarantee, warranties or customer support, plus the other areas in the template.

3. Product’s competitive position

4. Value proposition

5. Primary target market characteristics – ID 3 targets

6. Target market’s buyer decision behavior

7. Brand strategy

8. Product life cycle stage & benefit analysis

9. Channel design (channel members and role) and distribution strategy (intensive, selective, or exclusive)

10. Communication objectives based on buyer-readiness stages. Note: objectives must be stated in measurable terms.

Part 1 of the IMC plan will be graded as follows:

Points Grading Standard

0–1 Appropriateness of product to analyze

0–1 Description of the three levels of the product

0–1 Description of the competitive position

0–1 Definition of the value proposition

0–1 Identification and characteristics of primary target market

0–1 Discussion of primary target market’s buyer decision behavior

0–1 Identification of the brand strategy

0–1 Identification and discussion of appropriate lifecycle stage

0–1 Identification and discussion of channel design and distribution strategy

0–4 Development of multiple measurable communications objectives

0–2 PowerPoint presentation’s ability to communicate, free of typographic or grammatical errors, proper use of academic writing style guide, use and citation of external sources, timeliness of submission

15 points Total

The following detailed rubric should be your guide. It is also attached to this Asssignment as a Word document if you wish to download it.

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MRKT 354 Integrated Marketing Communications Instructor: Semester:

Student Feedback- Part 1 (15% of grade)

IMC Plan Project (75% of final course grade)