The object of the assignment is to teach you how important a marketing plan is to the success of a product or service.
Pick a product or service that is not present in a specific area, but select one with which you are very familiar. Create a simple marketing plan using the outline shown below and in our book.
You might use a single product, service, or even your own business you are looking to expand. Focus on one geographic market segment. You will need to complete research to determine a need for your product. For example, a surfboard rental shop in Killeen, Texas might not be the best idea, but a new service for entertainment might fit well.
There are six parts to the plan. I suggest using the below as an outline to start your paper. Copy and paste it to a Word document and respond to each section.
Plan to include at least one citation in each section to justify your opinion. This means a total of at least six citations, but more are welcome. Additionally, there should be a works cited with at least four separate resources included. Use MLA formatting for the citations and works cited page.
1. Executive Summary
2. The Business Challenge
-A brief descriiption of the offering and the goals of the plan. This section serves as an introduction.
3. The Market
-Customers: Who are they, and what do they need?
-Company analysis: Your firmâ€™s strengths and weaknesses relative to this market and the offering.
-Collaborators: Your collaborators could include suppliers and/or distributors or retailers.
-Competitors: Who are they, and what are they doing?
-Business climate: The business climate includes opportunities and threats created by environmental forces, such as government regulations and legislation, the economy, and social, cultural, and technological forces.
4. The Strategy
-The strategy: Why did you choose the strategy you did? Consider including a brief discussion of alternatives that were considered and discarded.
-The offering: Provide details on the features and benefits of the offering as well as its proving options.
-The communication plan: How will the offering be launched? What will the ongoing communication strategies be? This section is likely to be fairly broad and will require collaboration with communication partners such as your firmâ€™s advertising agency.
-Distribution: How will the offering be sold? Who will sell it? Who will ship it? Who will service it?
-Investment: Provide details about the budget needed to launch and maintain the offering.
-Return: List both the short-term and long-term financial goals of the offering, including its projected sales, costs, and net income.
– Other resources are required.
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