12 May ANALYZE THE APPROPRIATE MARKETING STRATEGIES TO APPLY AT EACH STAGE OF THE PRODUCT LIFE CYCLE.
Details
Strategic Marketing Plan
Analyze marketing decision support systems and their impact upon marketing management systems.
Describe the key factors, such as demographic, economic, natural, technological, political, and cultural developments, that affect marketing strategies.
Assess the major influences in current consumer and organizational buying decisions.
Details
Strategic Marketing Plan
Analyze marketing decision support systems and their impact upon marketing management systems.
Describe the key factors, such as demographic, economic, natural, technological, political, and cultural developments, that affect marketing strategies.
Assess the major influences in current consumer and organizational buying decisions.
Analyze the appropriate marketing strategies to apply at each stage of the product life cycle.
Construct a strategic marketing plan.
STRATEGIC MARKETING PLAN
INTRODUCTION
This assignment entails development of a comprehensive strategic marketing plan for a new product or service that is ready to “go to market”. A Project Template is provided that allows you to organize your work in increments and see how the sections come together to produce a comprehensive plan.
PRODUCT/SERVICE
This assignment requires application of concepts learned to build a strategic marketing plan for a new product or service that is ready to “go to market”. You will not be allowed to mimic plans or ideas from larger or already “in-place” campaigns. You must develop the business concept in its entirety.
OBJECTIVES/MISSION STATEMENT
Create a Mission Statement. State your short-term MARKETING objectives (one year). Assume that the product/service is ready to launch at the beginning of the year (planning and testing have been completed).
TARGET MARKET
Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau’s American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.
COMPETITION
Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in? Hoover’s Pro in the Library is a good tool for this section; it may be accessed under Find Web Resources.
PRODUCT/SERVICE FEATURES
Provide a brief overview of the product or service.
CORE STRATEGY
Discuss your Core Strategy and make sure to connect it to your Mission & Objectives. Include a discussion on Product/Service Positioning.
MARKETING MIX: COMMUNICATIONS & PROMOTION
The Marketing Mix is the set of decisions about communications and promotion, price, channels of distribution, and customer relationship management. An integrated marketing communications (IMC) approach delivers a clear and consistent message to your consumers and is connected to your Core Strategy.
MARKETING MIX: PRICE
Discuss what pricing objectives you would consider for your product/service. The Objectives should be based on the various theories presented in marketing literature and take in to account competitor pricing. Including background on value proposition, positioning, and target market is necessary. All of these components provide rationale for the chosen pricing scheme.
MARKETING MIX: CHANNELS OF DISTRIBUTION
Channels of Distribution: Specify the type of distribution channel you will use and include rationale.
MARKETING MIX; CUSTOMER RELATIONSHIP MANAGEMENT
Customer Relationship Management -Detail how you will incorporate CRM into your plan. Be sure to include a discussion on the role of technology that will be used to support your CRM.
CONCLUSION
REFERENCES
The assignment requires the use of ARTICLES from the library’s full-text databases. Articles are found in periodicals. These are not to be confused with eBooks or Reference Books. The most popular databases in marketing are: ABI Inform Global, Academic Search Premier, and Business Source Premier.
Your report MUST include a reference list. All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your paper. For more information on APA, please visit the APA Lab. The paper should be written in third person; this means words like “I”, “we” and “you” are not appropriate. The use of direct quotes is discouraged, but may be used sparingly in appropriate situations.
Grading will be based on content, application, research, mechanics (APA format, spelling grammar, and punctuation), and style (organization, readability, and using your own words).
Place an order for the assignment with us now. You are guaranteedConstruct a strategic marketing plan.
STRATEGIC MARKETING PLAN
INTRODUCTION
This assignment entails development of a comprehensive strategic marketing plan for a new product or service that is ready to “go to market”. A Project Template is provided that allows you to organize your work in increments and see how the sections come together to produce a comprehensive plan.
PRODUCT/SERVICE
This assignment requires application of concepts learned to build a strategic marketing plan for a new product or service that is ready to “go to market”. You will not be allowed to mimic plans or ideas from larger or already “in-place” campaigns. You must develop the business concept in its entirety.
OBJECTIVES/MISSION STATEMENT
Create a Mission Statement. State your short-term MARKETING objectives (one year). Assume that the product/service is ready to launch at the beginning of the year (planning and testing have been completed).
TARGET MARKET
Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau’s American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.
COMPETITION
Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in? Hoover’s Pro in the Library is a good tool for this section; it may be accessed under Find Web Resources.
PRODUCT/SERVICE FEATURES
Provide a brief overview of the product or service.
CORE STRATEGY
Discuss your Core Strategy and make sure to connect it to your Mission & Objectives. Include a discussion on Product/Service Positioning.
MARKETING MIX: COMMUNICATIONS & PROMOTION
The Marketing Mix is the set of decisions about communications and promotion, price, channels of distribution, and customer relationship management. An integrated marketing communications (IMC) approach delivers a clear and consistent message to your consumers and is connected to your Core Strategy.
MARKETING MIX: PRICE
Discuss what pricing objectives you would consider for your product/service. The Objectives should be based on the various theories presented in marketing literature and take in to account competitor pricing. Including background on value proposition, positioning, and target market is necessary. All of these components provide rationale for the chosen pricing scheme.
MARKETING MIX: CHANNELS OF DISTRIBUTION
Channels of Distribution: Specify the type of distribution channel you will use and include rationale.
MARKETING MIX; CUSTOMER RELATIONSHIP MANAGEMENT
Customer Relationship Management -Detail how you will incorporate CRM into your plan. Be sure to include a discussion on the role of technology that will be used to support your CRM.
CONCLUSION
REFERENCES
The assignment requires the use of ARTICLES from the library’s full-text databases. Articles are found in periodicals. These are not to be confused with eBooks or Reference Books. The most popular databases in marketing are: ABI Inform Global, Academic Search Premier, and Business Source Premier.
Your report MUST include a reference list. All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your paper. For more information on APA, please visit the APA Lab. The paper should be written in third person; this means words like “I”, “we” and “you” are not appropriate. The use of direct quotes is discouraged, but may be used sparingly in appropriate situations.
Grading will be based on content, application, research, mechanics (APA format, spelling grammar, and punctuation), and style (organization, readability, and using your own words).
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