APPLIED MANAGERIAL MARKETING
Question
Phase 5 - Task 1
Task Type:
Discussion Board
Deliverable Length:
750-1,000 words
Primary Discussion Response
Now that Michelle has all of the pieces of her marketing plan in place, the board is ready to see the final plan. She is apprehensive about this because the board needs to approve the plan for it to move forward. It is imperative that the plan addresses all of the marketing issues discussed to this point, and that it also includes a discussion of how MM will measure the success of the plan after it has been implemented.
Primary Task Response: Within the Discussion Board area, write 750-1,000 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Michelle is happy with how the plan is being put into place. The date and time for the final board meeting has been set when she calls you.
"How will we know if the new product launch is a success?" she asks. "How will we know if what you have suggested really worked? Since I started this company as an entrepreneur years ago, I feel like everything that happens here is my fault or my responsibility. Does that make sense?"
"You've been so supportive to me during this whole process," you say. "Leave it to me. I'll think about what you've said over the long weekend and I'll be ready to sit down and discuss the details as I prepare the final draft of the plan."
Based on your original goals and the plan you are putting into place, what will you tell Michelle?
What will you measure to determine whether or not your new product plan for MM is a success?
What about a contingency plan?
Do you need to make recommendations for MM if things do not go the way you hope and expect them to?
As an entrepreneur, is it normal for Michelle to feel like she has the weight of the company (and this project) on her shoulders?
Can you tell her something to help her deal with these thoughts?
The materials found in the M.U.S.E. may help you with this assignment. Additional information is also provided in the Lessons From Experience found at the following links:
Seeking a Loan for a Start-Up at https://coursebuildercontent.careeredonline.com/Assets/60000/55512.pdf
High Customer Concentration Proves Fatal at https://coursebuildercontent.careeredonline.com/Assets/60000/55513.pdf
Phase 5 - Task 2
Task Type:
Individual Project
Deliverable Length:
12-15 slide PowerPoint with 200-250 words of speaker notes per slide
Michelle has told you that the board is now ready to see the final presentation of your plan for MM's new product.
"They are very eager to see what we've been working on during the past few weeks," she says excitedly. "I'm sure they will love the plan and am looking forward to your presentation."
"Thanks," you respond, feeling a few butterflies in your stomach. "I'm looking forward to the presentation also. I think we've covered all of the bases and I'm sure we have a solid plan. I've jotted down the order of items to cover that I think will be best for the presentation. What do you think?"
Objectives of plan
Marketing research used to select target market
Product branding strategy
Pricing, distribution, and promotional strategies
Measuring results
Contingency plan
"This looks like a solid format for the presentation. Let me know if you have any questions and I'll be happy to help," Michelle says exiting your office.
You close the door of your office so you can fully concentrate on preparing your presentation. You have a lot of material to cover, but you have been working on this plan for weeks. Now it's just a matter of formulating a cohesive strategy and anticipating any questions that may arise during the presentation.
What might somebody else say to show your proposed solution is wrong?
What could you say to show s/he is wrong?
What alternative solution might someone else recommend?
What reasons might someone provide to support their solution?
How would you respond to their reasons?Is there a compromise or creative solution?
Please submit your assignment.
The materials found in the M.U.S.E. may help you with this assignment. Additional information is also provided in the Lessons From Experience found at the following links:
Global Marketing : https://coursebuildercontent.careeredonline.com/Assets/60000/55508.pdf
Tracking the Skippers: https://coursebuildercontent.careeredonline.com/Assets/60000/55506.pdf
Aiming at the Right Target : https://coursebuildercontent.careeredonline.com/Assets/60000/55514.pdf
The Language of Branding : https://coursebuildercontent.careeredonline.com/Assets/60000/55517.pdf
Targeting the Museum Market https://coursebuildercontent.careeredonline.com/Assets/60000/55507.pdf
Penetration and Skimming Pricing Strategies: https://coursebuildercontent.careeredonline.com/Assets/60000/55511.pdf
The Price Has to be Right : https://coursebuildercontent.careeredonline.com/Assets/60000/55516.pdf
Seeking a Loan for a Start-Up : https://coursebuildercontent.careeredonline.com/Assets/60000/55512.pdf
High Customer Concentration Proves Fatal: https://coursebuildercontent.careeredonline.com/Assets/60000/55513.pdf