Based on the Part 1 of this paper you did here:
Using your selected scenario in Part 1 of this project, write full 4-6 pages paper on the instructions given below. Must include 3-4 references cited in APA. Must address each section properly and apply headings on it. Must provide both word and excel file. Must follow the grading criteria. Must provide 100% original answer.
You are the owner of a small to mid-sized business. You are currently developing your marketing plan for the upcoming year. The marketing plan will include both the tactical and strategic plan elements. You will also discuss the implementation and evaluation of the strategic marketing plan.
This week, you will finalize your marketing plan for your selected product or service. Do not incorporate Part I in this week’s submission. However, in preparing for Part II, you may have to consider some of the suggestions made by the instructor in Part I.
Instructor Suggestion about Part I:
You did a good job on your paper. I liked your selection of the Differentiation Strategy for your company. I did want to see a little more on your Target Markets. Overall, you did a good job on your paper.
Complete the following for your marketing plan:
- Justify the pricing strategy you will employ. Perform a breakeven analysis to determine how many customers you will need to make your business financially viable.
- Defend your distribution strategy. Determine if there are additional channels you should pursue and why.
- Justify your integrated marketing communications plan. Discuss the key themes of your campaign and link them to how your business, service, or product will satisfy your target market needs. Describe each element of the promotional mix in detail and explain how you will integrate the different elements of your promotional mix toward the target market using the key themes. This includes the following elements:
- Public relations
- Sales promotion
- Personal selling
- Direct marketing
- Interactive marketing
- Defend an implementation schedule for your marketing plan. Outline the time frame for the different media campaigns and specify milestones. You should outline who will be responsible for each action item and how you will track the deadlines to ensure the plan stays on schedule.
- Justified an evaluation process for the effectiveness of the marketing plan, including use of a marketing dashboard. Evaluation plan also included a sample dashboard.
- In table format, synthesized estimates for the marketing budget.
- Additionally, you have been asked to prepare a budget. The budget should include estimates of forecasted sales, direct cost of sales, and your marketing expense budget. (Create an Excel sheet with the budget estimates and then copy/paste into your Word document.)
- Submit a full 4-6 page paper written in APA format. Search the South University online library for peer-reviewed articles to justify your marketing plan. Include a minimum of 3-4 peer-reviewed articles for your paper.