Marketing Plan: Part I
In the next several units, you will be creating a marketing plan for a company. Submit a draft of your marketing plan to your instructor for review and feedback. This draft only needs to include a discussion of the product or service that you select and the pricing strategy that you anticipate to use. The details to include are provided below.
Product
In this section, discuss your proposed product strategy.
Identify the company for which you will be creating a marketing plan, and describe the product or service. If you choose a large global company, you must create a new product; however, this new product may be an upgrade of an existing product. Also, make certain that you select a company that you have not used for other assignments in the course.
Explain how your product or service will be classified according to use, durability, and involvement.
Identify where your product or service falls on the product life cycle.
Pricing
Identify pricing goal(s).
Discuss key determinants of price.
Compare and contrast different pricing methods to choose a pricing strategy
Explain how you might fine-tune the base price with price-adjustment strategies.
Your summary must be at least two pages in length and be double-spaced. APA formatting is not necessary.
PART TWO- ADDS TO PART ONE
Marketing Plan: Part II
In this unit, you will continue to build upon your marketing plan for an existing company and a product or service of your choice. For Part II, make certain to include the sections listed below in your marketing plan.
SWOT Analysis
A valuable step in your situational analysis is to assess your firm’s strengths, weaknesses, opportunities, and threats (SWOT). For this section, conduct an inventory of your internal strengths and weaknesses. Then, note the opportunities and threats that are external to the organization based on your market and the overall environment.
Competitive Analysis
For this section, create a comparative chart discussing the differences between a minimum of two competitors.
Goals
What are the objectives and goals of your marketing plan? What is it that you hope to achieve? Please be very specific in this section.
Corporate Social Responsibility, Sustainability, and Ethics Strategy
For this section, explain any governance policies that you will use to be socially responsible and ethical. Identify any aspects of your business model that will create more sustainable operations (with a focus on bettering people, the planet, or profits).
Your essay must be at least three pages in length, not counting the title and reference pages. All sources used must be referenced; paraphrased and quoted material must have accompanying citations. You must use at least two references. Adhere to APA Style when constructing this assignment, including in-text citations and references for all sources that are used. Please note that no abstract is needed.
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