Write a Marketing Plan You should now have an understanding of the MP3 Player market, your company and your product. The next step is for you to write your Marketing Plan which will guide your company to achieve the highest Total Marketing Contribution (TMC) over five decision periods. Your Marketing Plan should be one page in length.
1. What is your company’s Mission Statement? Your mission statement should be brief and include the purpose of your company, your target market and how you intend to differentiate yourself from competitors. The mission statement will guide your decisions and provide a method of achieving your goals.
2. Write at least three Goals for your company’s Goals. My goals for this company is to satisfy customer needs, be ranked number one, and to increase market share.
3. Describe your company’s Implementation Strategy to achieve these Goals? You should at least include the following (with justification for each):
? Your Pricing strategy ;
? How you intend to manage your Retail Margin
? Your Advertising Budget for the coming year;
? How you intend to spend this Advertising Budget
? Your Sales Forecast in units;
? Your Product Development strategy
? Your Target Markets for New Product launches over the length of the simulation;
? Your Marketing Contribution forecast for year one and your Total Marketing Contribution forecast by the end of the simulation.