JWI 518 Week 10 Assignment Help

JWI 518 Week 10 Assignment Help | Strayer University 

Assignment 3: Marketing Plan

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 as 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 marketing 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 plans 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.

Title Page

• Table of Contents

• Executive Summary

o Create a high-level summary of the plan’s content and purpose. Description of Product/Service

o What is it, what does it do?

o Who owns it?

o What Product Life Cycle stage is it in?

• Value Proposition

o Why would a customer buy it?

o What is the value that it delivers?

o Create a 2-3 sentence value proposition statement encompassing information above.

This statement is used for marketing messaging campaigns.

• Features and Benefits

o Create a list of features and benefit to the customer.

Target Markets

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

o What approach is being taken (undifferentiated, differentiated, concentrated, or

micromarketing)?

Competitive Analysis

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

o Compare your product/service to major competitors.

o 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.

SWOT Analysis

o Refer to the SWOT analysis instructions in your textbook.

• Marketing Objectives

o What are the current marketing objectives, or what are your suggested objectives? (e.g.

build brand awareness, increase market share, capture a new target market, increase

revenues, etc.)

• Measure

o How will your objectives be measured?

Pricing Strategy

o Identify the price for your product/service.

o Explain why the price better supports the marketing objectives.

• Target Markets

o What are the target markets? Explain.

o Should current target markets be expanded? Explain.

• Distribution Strategy

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

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

• Marketing Promotion (try to use a combination of traditional and contemporary tools)

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

o Which tools will be used to deliver promotion initiatives?

o Align promotion initiatives to appropriate target markets.

o Which initiatives should be included in each stage of the Product Life Cycle?

Budget

o Estimate the cost of the marketing campaign.

o Create a marketing budget. Allocate the appropriate cost for each initiative.

• Reference Page

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