Description

Overview

This is a core assessment of the course. You will prepare a marketing plan. The subject of the plan will be a product of your own choice, either an existing product/service or a product idea of your own.

Refer to Assignments and Grading for more information.

Directions

  • Work on the recommended tasks in the unit milestones. This will help you pace the work throughout the course.
  • It is not required that you submit unit research to your instructor, but please feel free to ask questions along the way.

Requirements of the Written Report

  • The entire written paper should be 10-12 pages long.
  • Reference the marketing plan outline and core assessment checklist to create an organized marketing plan of high quality.
    • Be sure to use the same headings as the marketing plan outline
    • Refer to the core assessment checklist to write a high-quality report.
    • The report should contain a cover page, a table of contents, reference page and appendices when necessary.

Unit Milestones

Unit Milestone Work on
1
  • Determine which product/service/company you plan to use.
  • Begin research and an analysis on its competitive environment
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2
  • Complete research and development for
    • initial research on defining target market
    • demand forecast
    • complete value proposition
    • define how you will deliver satisfaction and maintain customer loyalty, customer profile, demos and other important information
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3
  • complete research and development for
    • specific market segmentation, targeting, and positioning statements
    • develop “branding” strategy for your produce/service
    • decide on brand name,
    • develop equity position and include the decisions in developing the brand strategy.
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4
  • complete research and development for
    • product/service’s brand positioning
    • differentiated brand positioning of your product/service
    • identifying who the market leaders are for your chosen product/service
    • identifying the niche that your product/service is in
    • deciding whether your product/service is going to be a leader, follower, or challenger to well-established products or brands
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5
  • complete your research and development for
    • setting product strategy/designing or managing services
    • developing pricing strategies and programs
    • product or service strategy
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6
  • complete your research and development for
    • channel decisions for getting your product/service to the consumer
    • retailing, wholesaling, and logistical marketing plans
    • plans for locations, hours of operations, and how your “service” plans on managing demand and capacity issues (if applicable)
    • an integrated marketing communications matrix
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7
  • complete your research and development for
    • advertising program complete with objectives, budget; advertising message and creative strategy
    • media decisions, and sales and promotional materials
    • direct market channels plans (if applicable)
    • consumer-adoption process for your new product
    • how the consumer will learn about your new product/service and how quickly they will adopt it
    • how the product will be targeted to the heavy users and early adopters first, then early, and late majorities
    • the estimated time for full adoption.
  • Submit complete marketing plan