Reference no: EM13940104

Requirements this needs to be completed in 5 separate parts.  Each part is identified as Part A,B,C,D,E.  If you are going to accept this assignment then you need to complete it as it needs to be. 

Marketing Plan Instructions

Overview

The overall purpose and objectives of any course project is to allow hands-on instruction and real-world experience. Projects provide an opportunity to actually apply what you are learning.

If a company wants to succeed, it must have a written plan. A marketing plan analyzes the current situation, opportunities and threats, and specifies marketing strategies and objectives in terms of the four Ps: Product, promotion, price, and place. The marketing plan helps the firm to operate in the current environment, to understand their own actions, and to deal with future change initiatives.

For this project you will create a simple marketing plan for a designated product that meets specific criteria. You will apply creative, critical thinking and decision-making processes to marketing scenarios. You will also conduct marketing research (using the Internet, the ECPI Online Library, and additional outside resources such as interviews and market studies) and develop and analyze strategies and tactics needed to successfully market a product.

Note: The marketing plan that you create for this course is a scaled down version of a "real" marketing plan.

Instructions

This project involves creating a marketing plan for a product of your choice. Your product can be any good or a service that you wish to "take to market."

Perhaps you think you could sell a really good pizza, a chocolate chip cookie, or a fruitcake. (Don't laugh; these products are billion dollar industries.) Perhaps you think you could market a tool, a paper good, or a tee shirt. Perhaps you want to offer desktop publishing, accounting or computer repair and networking services to small businesses and individuals. Maybe you wish to open a hair salon, a day spa, a book store; maybe you want to start a landscaping business or a childcare business.

The possibilities are endless, and only your imagination and your entrepreneurial spirit limit you! Your business idea does not have to be original, but you do have to show how you would market your idea and what results you expect.

• Your Marketing plan is divided into parts that will be submitted for grading throughout the term. Your final Marketing Plan will be a compilation of all these parts. You will have an opportunity to revise, edit and rewrite these parts based on instructor review. You will submit the final Marketing Plan towards the end of the term.
• You have several good resources to use. Your textbook is an excellent resource. The website that accompanies the textbook is another good resource, and the ECPI Online Library is filled with resources that you can use as well.

Unit 1: Part A - Mission and Objectives

Unit 2: Part B - Situational Analysis Using SWOT

Unit 3: Part C - Identifying and Evaluating Opportunities Using STP

Unit 4: Part D - Implementing the Marketing Mix

Unit 5:Part E - Evaluating Performance (You will also need to include an Appendix (if applicable), and a Reference page)

Marketing Plan Requirements

1. Your marketing plan must be in essay format and include the appropriate headings.
2. You will submit parts A through D of this Marketing Plan as we go through the course. Part E will be included as part of your final Marketing Plan submission.
3. Use Microsoft Word to create your marketing plan. Name your file: (Marketing Plan_Your last name) Upload this Word file via the Unit 5 final marketing project page.
4. Your Marketing Plan should be long enough to properly cover the outlined points. However, expect to end up with approximately 6-10 typed pages. You should have a minimum of six pages (Six pages using doubling spacing and a 12 point font, and not including any graphics, charts, tables, pictures).
5. Follow the sample marketing plan paper for formatting and layout. 
6. Any graphs, charts, tables or pictures must be put into an Appendix at the end.
7. Include a cover page that contains the title of your plan and your name, course, date. Include a footer at the bottom of each page that includes your name and the date and the page number.
8. You should use at least four outside resources for this project. Three of these resources must come from the ECPI Online Library. Your sources must be valid, creditable resources. Wikis, such as Wikipedia, and blogs are not allowed.
9. Cite your sources for this project using APA format. (You must use in-text citation and include a reference page).
10. Please make sure you proof your file in addition to running spell check before submitting.

Information to include in your Marketing Plan

While you are writing your paper address the following information:

Organization

• Is your marketing plan clearly organized per the outline provided below and is the plan easy to follow? Is your plan logical?
• Organize sections using multiple levels of headings. Are you using the proper headings?
  • Use bold font for first level headings.
  • Consider using bullet points or numbered lists to emphasize important points.Content

• Does your plan contain the required content?
• Is the content clear and focused?
• Does your plan show creativity and entrepreneurship?
• Would a consumer or another business use or buy your product or service?
• Are your graphics appropriate and meaningful?
• Does your plan show evidence of research? Do you use correct documentation of resources?

Marketing Plan Outline

There are a number of ways you can create and format a marketing plan. In this class we will be using the format below. Be sure to use the titles/headings (listed below each in Part (A - E) in navy blue) when you create your marketing plan.

Part A: Mission and Objectives

This first part of the planning stage describes your overall plan. What is the purpose of your marketing plan? What is the organization's mission statement? Explain what you think is your competitive advantage. What can you do better than your competitors?

• Purpose of the Marketing Plan
• Organization Mission Statement
• Competitive Advantage (What is something that your firm can do better than its competition?)

Part B:

Situational Analysis Using SWOT (Strength, Weaknesses, Opportunities and Threats)

The second part of the planning stage is the Situation Analysis. You identify the internal strengths and weaknesses and the external opportunities and threats. You begin by giving an industry analysis that forms the basis for the SWOT analysis.

SWOT Analysis

• Strengths
• Weaknesses
• Opportunities
• Threats

Part C:

Identifying and Evaluating Opportunities Using STP

Begin the implementation phase of the marketing plan by segmenting, targeting, and positioning our product to take advantage of the market opportunities. Segmentation divides the markets into groups of customers who might be interested in the products offered to them. Targeting is the process of deciding which segments to pursue. Positioning is the process of determining how the company wants to pursue the target and how it wants to distinguish itself from the competition.

• Market Segmentation
• Target Markets
• Positioning

Part D:

Implementing the Marketing Mix

In this fourth step of the process, you will implement the four Ps of the marketing mix: Product, Price, Promotion, and Place - for each product and service. This mix is based upon what the target market will value. You also determine whom you will allocate resources to your products and services.

• Product and Value Creation
• Price and Value Creation
• Place and Value Delivery
• Promotion and Value Communication

Note: At this point, a Financial Projections part would be included in a marketing plan; however, for this course project you are NOT required to include a financial section.

Part E:

Evaluating Performance (include in your final submission)

This final part of your plan is the Control Phase. In this phase you will evaluate the results of your strategies and implementations using marketing metrics. This section of your paper should answer and address the following:

• How will you determine if your goals and objectives are being met?
• How will you determine success or failure?
• Who is Accountable for Performance?
• Financial Performance Metrics
  • Sales verse Profit (How will you measure sales against profit?)
  • Market Growth (How will you measure growth?)
  • Customer Relationships (How will you evaluate customer relationships?)
  • Social Responsibility (How will you measure your Corporate Social Responsibility?)

Appendix

Include any additional information that you believe would be helpful. For example, you may want to include an organizational chart, a list of key personnel, maps, graphs, charts or data that might relate to your product and plans.

Important Note: For Parts B through D, when you submit your weekly work for the course project you must also include the changes you made to your previous week's work (using your instructor's feedback). For example when you submit your work for the Part B of the course Project, you will include the Part A with the changes in the same document.