Business Marketing applied

Original work, 1000+ words and 3+ scholarly references please

This is a follow up to a previous question posted.

Objective to this paper is to combine the elements of promotional strategy into the marketing mix to make a comprehensive marketing plan. And explore entrepreneurship as part of the market planning process.

Scenario: 

Now that Michelle has all of the pieces of her marketing plan in place, the board is ready to see the final plan. She is apprehensive about this because the board needs to approve the plan for it to move forward. It is imperative that the plan addresses all of the marketing issues discussed to this point, and that it also includes a discussion of how MM will measure the success of the plan after it has been implemented. 

Michelle is happy with how the plan is being put into place. The date and time for the final board meeting has been set when she calls you. 

“How will we know if the new product launch is a success?” she asks. “How will we know if what you have suggested really worked? Since I started this company as an entrepreneur years ago, I feel like everything that happens here is my fault or my responsibility. Does that make sense?”

“You’ve been so supportive to me during this whole process,” you say. “Leave it to me. I’ll think about what you’ve said over the long weekend and I’ll be ready to sit down and discuss the details as I prepare the final draft of the plan.”

Based on your original goals (Asian target market) and the plan you are putting into place, what will you tell Michelle? 

Please answer and explain in detail the following:

What will you measure to determine whether or not your new product plan for MM is a success?
What about a contingency plan?
Do you need to make recommendations for MM if things do not go the way you hope and expect them to?
As an entrepreneur, is it normal for Michelle to feel like she has the weight of the company (and this project) on her shoulders?
Can you tell her something to help her deal with these thoughts?