Unit IV Essay
Please entitle the essay as---"Marketing Plan: Part II"
Throughout this course, you will compile a comprehensive marketing plan using one of the product/service scenarios listedin the Unit II assignment.
(Note: You will use the same scenario throughout the course.) This scenario will be the basis ofyour start-up company and will be the catalyst for the subsequent marketing plan that you will compile. The company thatyou choose to submit a marketing plan for is a fictional start-up company (not an existing company).
This unit's submission should consist of the items listed below.
Provide a segmentation and target market analysis.
In this section of the marketing plan, you should identify the four criteria useful in segmenting the market, and applythem to your company.
Explain how identifying the target market is more clearly defined once a marketer hasconducted segmentation on the population. Explain several target markets for your company using detailedexplanations.
Include a competitive and industry analysis.
This section of the marketing plan should identify three or four competitors of your company. These can be direct orindirect competitors.
(Note: Not all companies have competitors.)
Differentiate each competitor based upon multiplecriteria. Additionally, conduct an industry analysis by looking at the health of the industry in which your companyresides.
Identify whether the industry has grown or shrunk in the last 5-10 years. Explain why understanding thecompetitors and the health of the industry are important elements of the marketing plan.
Provide a SWOT (strengths, weaknesses, opportunities, and threats) analysis.
In this section, you will compile a SWOT analysis of your company. The internal strengths and weaknesses as wellas the external opportunities and threats need to be identified and explained (include at least 2-3 elements under eacharea of the SWOT).
The value proposition will be demonstrated through a strong showing in the strengths section ofthe SWOT analysis. Reference the SWOT analysis explanation in the Unit I Lesson for additional insight on how tocompile this analysis.
The format of the submission should be in essay format using subheadings. Use APA format.
Additionally, you need toinclude a minimum of five sources, three of which must be peer-reviewed, academic sources that are no more than 5 yearsold.
The submission should be a minimum of three pages in length (not counting the title and reference pages).