Write two new sections totalling at least 900 words that address the following topics:
- Advertising and Promotion
- Financial Analysis and Controls
Write a 1-page executive summary to insert at the beginning of the marketing plan that summarizes the major components: the consumer problem solved by the product or service, the positioning, the elements of the marketing mix and the key financial indicators. The executive summary does count towards the 900 word minimum.
Format your paper using West Writing Style Handbook guidelines.
Include a minimum of 4 sources in all, which may consist of readings from the University Library and other selections. You are expected to use your textbook as a source but you should use at least four sources in addition to your textbook. Your textbook doesn't count towards the four source minimum.
Answer these questions:
Advertising and Promotion -
a. What is the key message (the unique selling proposition) with which you want your target market(s) to identify? If you have multiple target markets, this may need to differ across them.
b. What media will you use to reach out to customers in a way that will attract their attention and convince them to take the next step? How will these media work together to move customers through their decision process? Include as many elements of the marketing communication mix as you feel appropriate for your target, message, and product and/or service.
c. Elaborate on the 5M's of your advertising campaign.
Financial Analysis and Controls:
a. What is a realistic six-month marketing budget for achieving your company's initial goal?
b. What resources will you need to start? Include development costs (people and time), marketing launch costs, manufacturing set-up, etc.
c. Based on your price, projected sales, and costs, what is your break-even point?
d. How will you measure the success of your marketing plan? Justify whatever metrics you select. How do these metrics correlate?