JWI 518: Marketing In a Global Environment

Assignment 3

1

Assignment 3: Marketing Plan

Due Week 10, Sunday (Weight: 31%)

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 a s 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 marke ting 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 p lans 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.

 Cover Slide – Student name, course name and number, submission date

 Table of Contents – Agenda

 Executive Summary

− Create a high – level summary of the plan’s content and purpose.

 Description of Product/Service

− What is it, what does it do?

− Who owns it?

 Product Life Cycle

− What stage is the product or service in?

 Features and Benefi ts

− Create a list of features and benefit to customer.

 Marketing Goals and Objectives

− What are the company’s current marketing goals, or what are your suggested goals? (e.g. build brand awareness, increase market share, capture a new target market, increase revenues, etc.)

 B2C or B2B Target Markets

− What markets are currently targeted? What is recommended? (Support with research)

− What approach is being taken (undifferentiated, differentiated, concentrated, or micromarketing)?

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This cour se guide is subject to change based on the needs of the class.

JWI 518: Marketing In a Global Environment

Assignment 3

2

 SWOT Analysis

− Refer to the SWOT analysis instructions in your textbook.

 Competitive Analysis

− Who are major competitors – pricing, features, benefits, differentiators, target markets?

− Compare your product/service to major competitors.

− 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.

 Pricing S trategy

− Identify the price for your product/service.

− Explain why the price better supports the marketing objectives.

 Value Proposition

− Why would a customer buy it?

− What is the value that it delivers?

− Create a 2 – 3 sentence value proposition statement encomp assing information above. This statement is used for marketing messaging campaigns.

− Use the Value Pyramid image from the Harvard Business Review article “The Elements of Value”

 Marketing Promotion (try to use a combination of traditional and digital marke ting tools)

− List promotion ideas that support marketing objective(s).

− Which tools will be used to deliver promotion initiatives?

− Align promotion initiatives to appropriate target markets.

− Which initiatives should be included in each stage of the Product Li fe Cycle?

 Budget

− Estimate the cost of the marketing campaign.

− Create a marketing budget. Allocate the appropriate cost to each initiative.

 Distribution Strategy (Product – focused firms only)

− Do you recommend direct channel, indirect channel, or multiple channels?

− Do you recommend intensive, selective, or exclusive distribution and why?

 Measure Marketing Performance – Marketing Metrics

− How will your marketing goals be measured? Use Table 2.2 fr om the course textbook .

 References Page

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

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class.