Assignment:
Your paper is really good. You have a few sections you need to go back on and get more specific and elaborate a bit more. Think of this as an actual business document you will take to the bank with the prime purpose of lending you money. You have to be extremely specific. You need to go back and add numbers to your market, use the US census to get specific numbers. In APA avoid pronouns at all costs, I, YOU, HE, SHE, ME, THEY, THIS, THAT, etc. Never begin a sentence with THIS, THAT, THERE, you turn the sentence into a fragment. You have a few issues with commas and wording. In APA there are two spaces after periods. Your entire paper needs to be left aligned. You have a lot of extra blank lines floating around.
I look forward to seeing how your paper and writing grows over the course of the class!
Your company Executive Summary is a bit short. You were to thoroughly construct a concise executive summary that provides the details of the outcomes of your marketing plan outcomes. Thoroughly include the relevant outcomes: profitability, shareholder returns, and return on investment. A good Executive Summary is around 3/4 to a full page long. It is basically a summary of the entire marketing plan (to date).
What is the actual competition in your local operating area? Is competition on the rise or fall? How will this affect your business? Do you have internet competition?
Look at the average income for your operating region. Is the average income rising or falling? How will this affect your business? Is your community in a recession or an expansion? Are there any economic tax breaks the local governing giving your local government is offering to start up a business there?
What items are being tossed around politically that could affect you? For example, what about the Obama Care and Affordable Health Care Act, will that affect your business? Also, what about the latest student tuition debt recovery act and the homeowners mortgage bailout act, will those affect your business? What about the increase in political issues of Patents and Copyright infringement and software piracy and the prevention of it?
What legal laws will you have to follow, such as copyright, trademarks, and patents?
Will you utilize a website or social media networks? If so, how and why? What about ordering of supplies and distribution to the customer? What other technologies could you utilize?
What are industry averages that show the use of calendar based software is on the rise? What about the amount of people using their phones build in calendar functions? Will that affect your business?
Your Environmental Analysis section is a bit short. You are to thoroughly conduct an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Take a look at the Week 3 Discussion Board. Inside the Marketing Plan Discussion Thread I have PowerPoint that is on the Environmental Analysis. Inside, it lists examples of items that will go in each section of the analysis. You will need to beef this analysis up to get full points in the Week 8 Submission. I left notes under each heading.
Your Target Market section is a bit short. You were to thoroughly specify the primary and secondary target markets for your company. Thoroughly cover the 4Ps, 5Cs and STP. You are to decide on which audience, out of all potential audience members and which segment, out of all identified segments that you will target specifically. The actual target within the specified segments. You need to look at the $ amount on income and spending money your target market has, how likely they are to use your business, education level, geographic location, etc. Be specific as to why you chose this specific target market. How will the price, product, place, and promotion, as well as, how the company, competitors, collaborators and context affect the customers.
Great job on your Performance Analysis section! You need to discuss why you chose each of these analysis and how you will use them to better your business.
You need to discuss why you categorized each as you did and then generate some ideas on how to use your strengths to overcome your weaknesses and use the opportunities to compensate for the threats.
Use at least four academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not quality as academic resources.
Your Reference page should be on a separate page, to do this, at the last line of text hit CTRL and ENTER on your keyboard to create a hard page break.
New Assignment: Marketing Plan B
From the start of this course, you have accessed the Interactive Marketing Plan tool and used the step-by-step guide to complete Part B of your marketing plan. You are required to submit a marketing plan for a hypothetical product-based company. Your plan must include the company's mission, introduction and branding, and information collected from Step 5 of the Interactive Marketing Plan, located in the course shell. Note: Some elements may not be covered in the Interactive Marketing Plan and will require additional research.
Note: You may create and /or make all necessary assumptions needed for the completion of this assignment.
Write a Three to four page paper in which you:
1. Revise your executive summary from Assignment 1, based on feedback from your instructor.
2. Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one brand extension.
3. Develop a marketing strategy for your product and determine an appropriate time table for execution of the plan (e.g., phase 1, phase 2, etc.). Provide a rationale for your response.
4. Develop a positioning statement which should include, at a minimum, a benefit, user, competitive, or innovative statement about your product. Provide a rationale for your time frame for execution of your positioning statement.
5. Examine the relevant marketing science of customer behavior for your product.
6. Develop your company's mission statement and company introduction.
7. Use at least three academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.