Edit paper to fulfilled guidelines
You are to develop a marketing plan including the following elements based on your research into the8Ps of marketing. Include the following in your marketing plan (And feel free to use this list as your paper outline):
- Cover Page. Provide a cover page with basic information such as your name, date, company name, product name, and “Marketing Strategy.”
- Introduction. Briefly introduce the plan and tell the reader what will be included.
- Business context. Describe the new product to be featured. What are the features and benefits? What is the company reason for bringing this to market? What are the corporate objectives for it?
- Situation analysis. How will this new product complement the existing product portfolio or product line in your organization? Who is the target market (be specific)? Who are the competitors (be specific)?
- Marketing strategy. What is the overall marketing strategy to support the achievement of the corporate objectives? What is the product positioning statement?
- Marketing mix. Discuss, in detail, how at least 4 of the 8Ps apply to your product. Refer to Marketing Basics: The 8Ps, Positioning Statements, and SMART Objectives [PDF]. For example:
- What is the promotional strategy to support the achievement of the corporate objectives?
- What is the pricing strategy to support the achievement of the corporate objectives?
- What is the distribution strategy to support the achievement of the corporate objectives?
- What is the advertising strategy to support the achievement of the corporate objectives? (Be brief here. Save any specifics about digital marketing for Week 10’s assignment).
- Effectiveness. How will you measure the effectiveness of this marketing plan?
- Summary. End with a conclusion that summarizes the document and mentions any known next steps or concerns.
- Marketing plan is 7 pages (in addition to the title, reference, and appendix pages). Use the Marketing Plan Template [DOC] as a resource.
- The marketing plan is a professional document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines (located in MBA Program Resources), including single-spaced paragraphs.
- In addition, include the following in your marketing plan:
- Title page.
- References page. Use at least three scholarly resources.
- APA-formatted references. Use Academic Writer for guidance in citing sources in proper APA style. See the Writing Center for more APA resources specific to your degree level.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:
- Competency 1: Apply marketing theories and models to develop marketing strategies.
- Articulate the context of the business.
- Competency 2: Evaluate the effectiveness of marketing strategies and methods.
- Evaluate the effectiveness of marketing strategies.
- Competency 3: Use data to support evidence-based marketing decisions.
- Evaluate the situation including the product portfolio, target market, and competitive environment of the business.
- Evaluate the marketing mix for a product.
- Competency 4: Analyze the role of technology and social media in effective marketing strategies.
- Analyze the expected effectiveness of the marketing plan.
- Competency 5: Communicate marketing needs, opportunities, and strategies with multiple stakeholders.
- Write coherently to support a central idea with correct grammar, usage, and mechanics as expected of a business professional.
ePortfolio
This portfolio work project demonstrates your competency in applying knowledge and skills required of a MBA learner in the workplace. Save this activity to your ePortfolio for future reference in the workplace.
Scoring Guide
1. Articulate the context of the business.
Distinguished
Analyzes the context of the business by including key challenges.
Proficient
Articulates the context of the business.
Basic
Describes but does not articulate the context of the business.
Non Performance
Does not describe the context of the business.
2. Evaluate the situation including the product portfolio, target market, and competitive environment of the business.
Distinguished
Evaluates the situation including the product portfolio, target market, and competitive environment of the business and analyzes key changes in the environmental situation.
Proficient
Evaluates the situation including the product portfolio, target market, and competitive environment of the business.
Basic
Describes but does not evaluate the situation of the business.
Non Performance
Does not describe the situation of the business.
3. Evaluate the effectiveness of marketing strategies.
Distinguished
Evaluates the effectiveness of marketing strategies and summarizes relevant changes in strategy using appropriate rationale.
Proficient
Evaluates the effectiveness of marketing strategies.
Basic
Describes but does not evaluate the effectiveness of marketing strategies.
Non Performance
Does not describe the effectiveness of marketing strategies.
4. Evaluate the marketing mix for a product.
Distinguished
Evaluates the marketing mix for a product and analyzes key changes in the marketing mix.
Proficient
Evaluates the marketing mix for a product.
Basic
Describes but does not evaluate the marketing mix for a product.
Non Performance
Does not describe the marketing mix for a product.
5. Analyze the expected effectiveness of the marketing plan.
Distinguished
Evaluates the expected effectiveness of the marketing plan and summarizes recommendations for each strategy using supporting references to substantiate expected results.
Proficient
Analyzes the expected effectiveness of the marketing plan.
Basic
Describes but does not analyze the expected effectiveness of the marketing plan.
Non Performance
Does not describe the expected effectiveness of the marketing plan.
6. Write coherently to support a central idea with correct grammar, usage, and mechanics as expected of a business professional.
Distinguished
Writing is coherent and consistently appropriate, using evidence to support a central idea and with correct grammar, usage, and mechanics as expected of a business professional.
Proficient
Writes coherently to support a central idea with correct grammar, usage, and mechanics as expected of a business professional.
Basic
Writing supports an idea but is inconsistent and contains major errors of grammar, usage, and mechanics.
Non Performance
Writing does not support a central idea. Does not use correct grammar, usage, and mechanics as expected of a business professional.