Homework: Simulation Strategic Plan
Learning Objectives
I. Construct a strategic marketing plan
II. Develop an understanding of the steps involved in creating a strategic Marketing plan, including a viable mission statement, measurable goals, and a strategy to successfully attain the goals
Instructions
Before you start making decisions in NewShoes, it is important to develop a strategic plan. Start by writing a mission statement, in which you communicate a vision for the company. Then identify measurable goals that your company should achieve to support your mission. Finally, plan the strategy you will use to meet those goals. Your strategy should spell out plans to enter markets, marketing mix for each market, and product development budgets. Use the following outline for successful completion of the homework. Think of this as a research paper. You should take time to research your target market, the athletic shoe industry, and key business concepts in order to address the specific questions asked in this homework.
I. Mission Statement
• Who Does Your Company Serve?
• How Large is the Target Market?
• What is the Scope of the Product Line and Services Offered?
• What Effect Does your Business Have on the Consumers?
• How do you want the world to think of you?
II. Measurable Goals
• Profit
• Return on Sales in a Period of Time
• Market Share Objective
• Customer Satisfaction
III. Strategy to Complete the Goals
• How do you plan to enter each marketplace?
• Share the Marketing Mix (Product, Price, Place, and Promotion) for each of the markets?
• What is the product development budget for each market?
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.