Reference no: EM13700054

MARE Project Proposal (Healthcare Industry HMO)

The project proposal outlines the marketing question you will address. It only needs to be a few sentences that explain the key issue and question you will address. You should get your section instructor's approval for your project topic ASAP.

Project selection guidelines
This course focuses on marketing strategy. When selecting your project, it is important that it be both strategic and marketing-related.

Strategic
To be strategic, the project should focus on broad actions that somehow change the way you do business. Consider a case of geographic expansion. If you are expanding from one region in the U.S. to another region, this is probably not strategic (from a marketing perspective). The expansion will probably be based on very similar if not identical marketing strategy to what is currently being used. You would probably appeal to the same target market, use the same products, communication tools, and distribution systems. On the other hand, expanding internationally may represent a strategic change since it might target different types of user (or at least how the users act may be different), require modifying products, or using different communication and distribution methods (especially in developing countries). In summary, the best projects for this class include fundamental changes to how you conduct your marketing efforts.

Marketing-Related
The focus of this course is examining how marketing can increase revenue (or other appropriate organizational outcomes like membership, voting, etc). This usually requires examining the full range of marketing activities. The best project topics usually:

Are focused on external vs. internal customers
Have marketing as the primary focus vs. being secondary to management, financial, production, or other considerations
Cover the broad range of marketing issues vs. a narrow focus like communications (advertising).
Have a number of marketing-related issues you are uncertain about. Just a reminder that products are defined as goods, services, or ideas. So a project about getting a candidate elected is just as appropriate as selling a medical device.

Examples of Good Project Topics

New Product Introduction: The best project topic is a new product introduction. This should be a new product, not just a simple extension of an existing product. For example, Microsoft's foray into computing devices with the Surface is a good project. The introduction of Windows 8 would be less appropriate - except as targeted to mobile devices.

New Market Entry: New market entry is a good topic as long as the market is truly new to your organization. This could be either entry into a new segment that is very different from existing segments, or extension into a new country that requires fundamental re-evaluation of the marketing strategy. For example, a commercial painting company who currently does large structures on-site (mostly ships) is considering entering the bridge painting market.

Sales Turnaround: Turning around flagging performance usually requires a complete reexamination of the marketing strategy. Everything from product redesign to re-positioning to re-evaluation of your understanding of consumer needs must be considered. In this case, you are dealing with an existing, "known" market. However, you are re-examining your fundamental beliefs about that market. For example, Microsoft's attempts to revive sales of its Windows Mobile operating system for cell phones.MARE Analysis Outlines (limit 500 words plus exhibits, tables, etc.)

The best way to approach the analysis outline is to treat it as a standard bullet-point business memo. Focus on conveying key points as clearly and efficiently as possible Here are some suggestions for keeping the outlines short but appropriately focused:

Focus on conclusions/recommendations. Don't talk about the MARE model components. Simply provide answers, conclusions, or recommendations for each component. It is critical that you build the outline around conclusions/recommendations.
After stating the conclusion/recommendation, provide a very brief summary of the reasoning. This step is really critical if you are going to get useful feedback. Without some reasoning, it is impossible to know if you are on track. You should be able to outline reasoning in 2-3 sentences. Conversely, you can link headings together with a few simple words.
Focus on the key take-away (most important material). Use the Primary Output sections in the MARE model to guide you. Don't get into excessive detail (save that for the final report). Think of the outline as an "elevator speech."
Use headings liberally. It is often useful to make each conclusion some type of heading. The MARE model's structure can be used to determine the heading levels.
Where possible, present figures, tables or other ways to summarize information.
Don't restate things from previous sections. Just refer back to that section/analysis.
Be as specific as possible. For example, if a opportunity attractiveness conclusion might be: The $350 million market potential should allow us to reach the $10 million revenue target.

If you only provide vague or generic statements, it will be difficult to know if you are on the right track. For example, I can tell nothing from the following statement: "The market is attractive."

Avoid the following:

Referring to or explaining the tools. Just apply them. Make the analysis as close as possible to something you would give to colleagues.
Overly generic recommendations that would be applicable in any situation. For example, "design the product to meet the needs of your target market." Such a recommendation is unhelpful since it is too vague.
Recommending further data collection/analysis For example, you should not recommend, "all cost must be determined and the price should be set at 10% above costs." You should actually do this analysis and set a specific price.
Simply restating the MARE model. For example, saying, "I will estimate the superiority premium." Draw a specific conclusion like, "customers will value the new product $25 more than existing options." You might change it later, but it is surprising how often gut instincts are at least in the ballpark.
Talking about MARE model sections that are not important. This is especially true for the Decision Context section.
The deliverable for each analysis outline should be a bullet summary that addresses the topics listed in the rubric and notes. The analysis outlines will be used to provide interim feedback on your project. Not only will they help insure you are on-track, but it will also help keep you moving forward on your final project. However, the feedback provided can only be as good as the outline you submit. Try to make the analysis outline as detailed and complete as possible. If your outline is generic or general - simply restating the MARE components - then the exercise will be of little use. Recognize that all this can be done with very few words. So focus on the key take-away points. There are two example outlines available on Angel under the Examples folder. These examples provide a sense of format and specificity expectations.

MARE Analysis Final Report (limit 10000 words plus exhibits, tables, etc.)

The final report builds upon the MARE Analysis Outlines. To create your final report, use the following guidelines:

Flesh out the outlines by providing more detail and explanation. Compared to the outlines, the final report should be fully developed with an extended justification for all points.
The report should conform as closely as possible to the style of a professional report done by or for your company. While continuing to use headings liberally, it should be written in a prose rather than outline style.
Use the instructor comments from the MARE Analysis Outlines to modify your analysis.
Link the sections together per the MARE Decision Architecture graphic.
Extend the analysis to include the Recommendations and Payoff analyses.
Document all sources of information in a bibliography/references section, using an accepted format such as APA, or MLA citations.
Note the formatting requirements for written work.
Prior to submitting your final report, please make certain the final report addresses all the issues listed in the grading rubric.
Submit the Final Report no later than the deadline given on the course schedule.
You will conduct a MARE analysis for your approved marketing problem. Example reports are provided in the course space.