Assignment:
Marketing 421 Signature Checklist
First, it is to gauge how much of this course's concepts were absorbed. Second, how well this course's concepts connect with previous courses. Lastly, give a frame work as to how main concepts from this course will carry to future courses in your major.
It is critical that everybody complete this assignment.
Scenario: Imagine you are an entrepreneur launching a business planning to operate both domestically and abroad. You are currently developing your marketing plan and strategies.
Develop a 1,050-word analysis addressing the following:
It will take at least this many words to complete this assignment. If you find yourself with fewer than 1,050 words, then review your content and make sure you have given plenty of examples and marketing actions to each of the bullets.
Describe your organization's mission, vision, and values.
You will need to write three statements here (one for mission, one for vision, one for value) with commentary about how it connects between the company and stakeholders.
A mission statement covers what the business does, who it is for and how they do it. (Usually no more than three sentences)
A vision statement is a short statement about the company's end game. Where do they see themselves? (Usually about a sentence long.)
Values are a few words that describe the company's values. What three to four words does your company really take ownership of? i.e. Integrity, innovation, transparency.
If you find yourself writing more than three sentences about the product and what it does, you have gone too far. Stay focused on the company and stakeholders.
Explain how these values will be aligned to your own personal brand identity, ethics, and values when doing business, planning strategies, and solving problems.
Explain in section how these values line up with you personally as well as how the company plans to incorporate this into their everyday activities.
Discuss at least two concepts from class that are elements of a marketing plan and are important tools to your entrepreneurial business' success. Discuss how the concepts help align the organization's values with your values. Explain the reasoning leading to these conclusions.
Choose 2 below to write about. I suggest (Product Life Cycle and Target Market, highlighted below.
SWOT
Environmental Scan - Five External Forces
Five Competitive Forces or Blue Ocean Strategy
New Product Development
Product Life Cycle
Product Features and Benefits
Price Strategy
Promotion Strategy
Positioning Statement
Target Market
Go into detail about two of these concepts. For example use words like demographics, regulatory, introduction phase, penetration pricing, research and development, and rate. Demonstrate that not only do you understand these terms but how they apply to these topics and how your company will use this for marketable actions.
Select two of the following departments and explain marketing's role in coordinating their distinct functions:
Distribution - Answer the following questions:
Who are your intermediaries?
Are you using direct, indirect, or multi-channel distribution?
Is your distribution intensive, selective, or exclusive?
What does your logistics look like?
Customer Service - Answer the following questions:
What marketable actions will you take?
i.e. FAQ on website, 24 hour customer care hotline, rewards program, etc.
Advertising and Public Relations - Answer yourself these questions:
What marketing actions will you take?
What type of advertising will you use? i.e. print ads, event marketing, TV advertising?
Will you do this in-house or use an advertising firm and to what extent?
Research and Design - Answer the following questions:
Will you use an engineering firm or consultants to help design your product?
What type of research will you use?
Sales - Answer the following questions:
Will you use outside agents or your own sales force?
What kind of sales forecasting will you use?
Operations or Manufacturing - Answer the following questions:
Will you use JIT?
Are you using LEAN?
What type of logistics will you use?
Does the raw materials play a big part in the development and marketing of the product?
This is a separate section from the above bullet about marketing concepts. This is about departments within a company and how marketing plays a role with these departments.
Make sure you use terms from the textbook!
Compare and contrast how culture is likely to impact domestic marketing strategies versus what the company may encounter when doing business abroad such as cultural norms, economics, politics, and legal systems.
Explain the actions the company can take to ensure that it evolves with the target at home and the countries it does business in.
Discuss any emerging marketing trends that may affect your business.
Make sure you speak of at least one of the five global marketing trends.
Cite a minimum of two peer-reviewed sources with one being from either the text, video material, or the University Library.
Format your assignment consistent with APA guidelines.
Key APA things to look out for.
Make sure the reference pages has
Heading centered and not bold
All double spaced
Hanging indents
No underlines in the website
References properly formatted (No html only. Use the correct format for websites)
Make sure you use in-text citations for ever reference.
Any quote over 40 words is blocked off with no quotations.
Use headings and subheadings.
Indents are 5 to 7 spaces.