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This Marketing Plan assignment gives you the opportunity to develop an integrated marketing strategy for a product or service of your choice. This activity will make the course “come alive” through application of the principles from the textbook, course materials, and discussions. Assignments such as this also help you develop business-oriented communication skills.
The development of this Marketing Plan is an integral part of the course. It will enable you to demonstrate a good understanding of a typical marketing problem through a clear identification of the problem and careful analysis, to implement steps that are sufficiently clear and detailed for effective execution, and to demonstrate how your plan would work. Developing the plan will require several weeks of research, critical analysis, critical thinking, and writing.
The MKTG Course Project is the creation of a strategic Marketing Plan (paper drafts and final version) and summary presentation.
Conduct research online or in the DeVry Library and write a strategic Marketing Plan following the steps below and summarize the plan in a presentation.
1. Read Appendix 1 in your textbook to gain a thorough understanding of a strategic marketing plan and its component sections.
2. Identify a company that has a portfolio of products and/or services that you regularly purchase or utilize, or in which you are otherwise interested.
3. Recommend a new product or service to add to the company’s portfolio
4. Conduct a Porter’s Five Forces analysis
5. Conduct a SWOT analysis
6. Conduct a market analysis
7. Establish strategic objectives
8. Identify issues in the marketing environments
9. Recommend marketing activities and programs
10. Establish a budget and determine BEP
11. Recommend controls to monitor and measure success
12. Capture the value of this assignment in a self-reflection.
Read the Paper and Presentation sections (below the Milestones section) for more information on these specific deliverables.
Please maintain one working draft add to it throughout the course. So for each draft, resubmit the prior draft with any corrections recommended by your instructor, and add to it the current section.
|Week 2||Marketing Plan, Draft 1Your paper should include the following components:· Portfolio Review· Porter’s Five Forces· SWOT Analysis|
|Week 2||Portfolio Review||Review the company and its current business portfolio, and recommend one new product or service to add to the existing portfolio.|
|Week 2||Porter’s Five Forces||Use Porter’s Five Forces model to analyze the industry’s:1. competitive rivalry,2. threat of new entrants,3. bargaining power of suppliers,4. bargaining power of customers, and5. threat of substitute products or services.|
|Week 2||SWOT Analysis||Conduct environmental scans to analyze the internal strengths and weaknesses, and the external opportunities and threats relative to your proposed new product or service. Present your findings in a SWOT analysis.NOTE: Some of the information from your Porter’s Five Forces analysis may be re-used in your SWOT analysis where applicable.|