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Marketing Plan Length: 3000 words (maximum) Submission method: Canvas (online)

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Marketing Plan
Length: 3000 words (maximum)
Submission method: Canvas (online)
Task
This assessment is to develop a marketing plan for a product/service of your choice. Below are some examples. Please note that you will work with a product/service that you find interesting to work with.
Authentic Southern restaurant
Organic/Natural toiletries product
Organic/Natural cosmetics
Organic fruits/vegetable shop
Art/Crafts by local artists
Beauty salons
Artificial jewelry
Car wash center
Center for tutoring school children
Etc.
Table 2.1 from your textbook (Pride & Ferrell 2020) will be the basis of the Marketing Plan.
Plan Component
Component Summary
Highlights
Executive Summary
One- to two-page synopsis of the entire marketing plan
1. Stress key points
2. Include one to three key points that make the company unique
Environmental Analysis
Information about the company’s current situation with respect to the marketing environment
1. Assessment of marketing environment factors
2. Assessment of target market(s)
3. Assessment of current marketing objectives and performance
SWOT Analysis
Assessment of the organization’s strengths, weaknesses, opportunities, and threats
1. Strengths of the company
2. Weaknesses of the company
3. Opportunities in the environment and industry
4. Threats in the environment and industry
Marketing Objectives
Specification of the company’s marketing objectives
1. Qualitative measures of what is to be accomplished
2. Quantitative measures of what is to be accomplished
Marketing Strategies
Outline of how the company will achieve its objectives
1. Target market(s)
2. Marketing mix
Marketing Implementation
Outline of how the company will implement its marketing strategies
1. Marketing organization
2. Activities and responsibilities
3. Implementation timetable
Performance Evaluation
Explanation of how the company will evaluate the performance of the implemented plan
1. Performance standards
2. Financial controls
3. Monitoring procedures (audits)
Rationale
This assessment task will assess the following learning outcomes:
Explain how to develop a marketing plan and apply the principles of marketing in creating a marketing plan;
Write in different business formats: reports, memos etc.
To be able to explain what marketing involves and how it differs from advertising and sales
To become conversant in marketing terminology and concepts
To understand how planning and market research is done, especially in the era of Big Data.
Explain the differences in consumer and business markets
Be able to identify the Segment, Target market and positioning of products
Be able to consider in detail the decisions that affect and are affected by the Product, Price, Place, and Promotion
Appreciate how marketing adapts to the ongoing developments in technology, data gathering, social trends and social media.

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