Comprehensive strategic marketing plan

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Reference no: EM13699546 , Length: 1500 words

I would like a comprehensive strategic marketing plan for introduction of a new product-Low alcoholic beverage (beer)into the US market.Proposed brewing factories to be located in all coners of the country for ease of distribution. 

INTRODUCTION
This assignment entails development of a comprehensive strategic marketing plan for a new product or service that is ready to "go to market". A Project Template is provided
that allows you to organize your work in increments and see how the sections come together to produce a comprehensive plan.
PRODUCT/SERVICE
This assignment requires application of concepts learned to build a strategic marketing plan for a new product or service that is ready to "go to market". You will not be
allowed to mimic plans or ideas from larger or already "in-place" campaigns. You must develop the business concept in its entirety.
Describe the new product or service.
Discuss the qualities that make this product/service new to the marketplace and the rationale for your decision to pursue the concept. Be sure to pick a product or
service that is ready to market. If you are developing a new product, assume that the development phase is over and you are ready to launch the product into the
marketplace.
OBJECTIVES/MISSION STATEMENT
Create a Mission Statement. State your short-term MARKETING objectives (one year). Assume that the product/service is ready to launch at the beginning of the year
(planning and testing have been completed).
Marketing objectives include goals for sales, profits, market share (as examples)
Objectives need to be quantifiable. Use the SMART acronym - simple, measurable, achievable, relevant, and time-specific - in formulating your objectives. An objective
with a 100% goal is not acceptable
TARGET MARKET
Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau's American Fact
Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.
COMPETITION
Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your
product/service fit in? Hoover's Pro in the Library is a good tool for this section; it may be accessed under Find Web Resources.
PRODUCT/SERVICE FEATURES
Provide a brief overview of the product or service.
State the features of your product/service. Show how it's innovative and different. It may be unique because of the area in which you plan to market it.
Discuss legal and ethical implications that could affect the marketing process. This will require research.
CORE STRATEGY
Discuss your Core Strategy and make sure to connect it to your Mission & Objectives. Include a discussion on Product/Service Positioning.
MARKETING MIX: COMMUNICATIONS & PROMOTION
The Marketing Mix is the set of decisions about communications and promotion, price, channels of distribution, and customer relationship management. An integrated
marketing communications (IMC) approach delivers a clear and consistent message to your consumers and is connected to your Core Strategy.
1. Discuss the aspects of the IMC. (The elements of the communication mix include: advertising, direct marketing, sales promotion, publicity/public relations and
personal selling.) Define each and discuss the pros and cons of the individual elements.
2. Provide a detailed description of your IMC approach. Explain your rationale for choosing or rejecting the specific elements (include applications to the earlier research
section). What changes do you expect to make as the product/service matures?
3. Describe the message you wish to communicate based on your core strategy. Explain your rationale for the message. Formulate how you will communicate with your
target market? Be specific. How will the internet be used in your IMC approach?
4. Select and explain the most suitable method for measuring advertising effectiveness. Your decision must include research to back up the selected method. Be sure to
explain why this is the most effective method to measure the effectiveness of your marketing campaign.
MARKETING MIX: PRICE
Discuss what pricing objectives you would consider for your product/service. The Objectives should be based on the various theories presented in marketing literature and
take in to account competitor pricing. Including background on value proposition, positioning, and target market is necessary. All of these components provide rationale for
the chosen pricing scheme.
Discuss what pricing objectives you would consider for your product/service. The Objectives should be based on the various theories presented in marketing literature and
take in to account competitor pricing. Including background on value proposition, positioning, and target market is necessary. All of these components provide rationale for
the chosen pricing scheme.
MARKETING MIX: CHANNELS OF DISTRIBUTION
Channels of Distribution: Specify the type of distribution channel you will use and include rationale.
MARKETING MIX; CUSTOMER RELATIONSHIP MANAGEMENT
Customer Relationship Management -Detail how you will incorporate CRM into your plan. Be sure to include a discussion on the role of technology that will be used to
support your CRM.
CONCLUSION
REFERENCES
The assignment requires the use of ARTICLES from the library's full-text databases. Articles are found in periodicals. These are not to be confused with eBooks or Reference
Books. The most popular databases in marketing are: ABI Inform Global, Academic Search Premier, and Business Source Premier.
Your report MUST include a reference list. All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your
paper. For more information on APA, please visit the APA Lab. The paper should be written in third person; this means words like "I", "we" and "you" are not appropriate. The
use of direct quotes is discouraged, but may be used sparingly in appropriate situations.
Grading will be based on Content, Application, Research, Mechanics (APA format, spelling grammar, punctuation) and Style - (Organization, readability, using your own
words). Please click here to view MKT640 Grading Rubric. 

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Reference no: EM13699546

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