Detail :As this class progresses, you will have the opportunity to apply the course concepts to build a complete marketing plan (due week 7). For each assignment, you will complete different sections of the attached Marketing Plan Template and submit the document for grading. As you work on your plan throughout the class, you may go back and adjust sections to include new information learned or to incorporate instructor feedback.Due Week 1Complete Section I of the attached MKT 308 Marketing Plan Template. In this section you will introduce the company and product or service for your marketing plan. This should be a new product or service, or a new positioning or market for an existing product or service. You must get approval from your instructor before proceeding with this topic.In Week 1 you should address the following elements in approximately 500 words: I.A. Product/Service Description.I.B. Mission Statement and Values.I.C. Marketing Objectives.Format your template text using attached template.Include a minimum of two sources, which may consist of readings from the University Library, your text, and other selections.MKT 308 Week 7 Final Plan
Marketing Plan Template Instructions
Use this template for developing your marketing plan throughout the course, following
the weekly assignments to determine which sections are to be completed that week. By the end of
week seven all sections will have been completed and you will submit the completed template.
As you complete each section delete the information in italics (including this instruction
page) but keep all bold headings.
Information should not be repeated in different places apart from the brief Executive
Summary. The goal is precision and focus.
You may use the charts inserted for the SWOT or STEEP analyses, or format the required
information in an alternative manner.
Remember that you must list all references compiled from each week’s assignments and
there should be citations for every reference within the paper.
The plan should be written in the 3rd person. This is a business plan.
Title of Paper
Your Name
MKT 308 – Marketing Management
Instructor name
Executive Summary
This section should summarize the key points of your plan in about 150 words. This should
be in a narrative form. It should not contain any “selling” information but rather a brief
summary of the core strategies that you detail throughout the plan. By reading this Executive
Summary someone should have a basic understanding of the essential components of your plan.
Citations are not included in this summary.
Write this section after all other components have been completed.
Product Description
A. Product/Service Description
Create a name for your business and describe the product or service that you have chosen. There
should be a rationale which explains the industry in which it competes, identifies the key
competitors and makes a case as to why there is potential for your product/service. Be sure to
include citations in the text for any facts and figures and include the references for them at the
end of the paper on the reference page. This section should be approximately 650 words.
NOTE: This information should not be repeated elsewhere in the plan.
B. Mission Statement and Values
Provide the mission statement of your company and the core values. This section should be
approximately 50 words.
C. Marketing Objectives
List your core marketing objectives for your first year. They can be in bullet-point format.
Marketplace Analysis
A. SWOT Analysis
Your SWOT analysis can be in the form of a chart with points in bulleted format. A sample chart
which you can use is below.
B. STEEP Analysis
Your STEEP analysis can be in the form of a chart with points in bulleted format. A sample chart
which you can use is below.
Social Forces
Technological Forces
Economic Forces
Environmental Forces
Political Forces
C. Success Rationale
Use the insights from your SWOT and STEEP analyses to explain why your product or service
can be successful in a market against your identified competition. This should summarize your
conclusions about the potential for success based on your research.
Customer Analysis/Segmentation
A. Target Audience
Describe your core target audience in both demographic and psychographic terms. Support your
assertions with information you have uncovered from research. Also, describe any secondary
audiences, supporting why you believe they are prospects with data.
B. Customer Buying Motivations and Desired Value
Describe the motivations that people will have for buying your product or service as well as the
value consumers would be looking for in this type of product or service. Speak about this service
in general, not your specifically company.
C. Product/Service Benefits
Describe the benefits that your product or service offers relative to the consumer motivations
and desired values listed above. How well does your offering meet those needs? Be specific.
A. Positioning Statement
Insert the positioning statement for your product or service here. This should be no more than 50
B. Brand Image and Personality
Describe the image you hope to create for your product or service in 50 words or less. Use
C. Brand Equity
Does your brand have any current equity in the marketplace or is it totally new? If it is an
existing product or service, how would you describe the value it currently possesses above and
beyond its hard asset value?
D. Brand Life Cycle Stage
What is the stage of your brand at this time? Is it in the introduction phase or are you trying to
revitalize an existing yet declining brand? Use the product life cycle terminology from the text.
A. Channels and Rationale
How will your product or service be distributed? What channels will you use and what is your
rationale for that choice?
A. Pricing Strategy and Rationale
What will your pricing strategy be relative to your competition and the marketplace overall?
Why do you think this strategy will be successful with consumers?
Advertising and Promotion
A. Unique Selling Proposition and Rationale
In one sentence, describe your unique selling proposition? Specifically, what sets you apart from
the competition? Then, in a few sentences or bullet points, provide some support or rationale for
your selling proposition.
B. Product Benefits and Support
In a sentence or two, describe the key benefits that your product or service offers in relation to
what you have identified as what your customers’ wants or needs? Provide bullet points that
specifically explain how your product or service delivers those benefits.
C. Media Strategy and Rationale
What mix of media do you plan to use to promote your product or service? Describe the
rationale for using each form of media. What specific function or role will each one fill?
Consider the relative strengths and weaknesses of different media.
D. Sales Promotion, Public Relations Strategies, and Rationale
Describe your strategies for using sales promotion and public relations to support your product
or service. Provide the rationale behind each element. If you do not intend to use these
strategies, explain your reasoning in a short paragraph.
VIII. Cost Center
A. Cost Centers and Rationale
NOTE: For this section, a detailed budget with actual numbers is not required.
List the major marketing cost centers that you need during the first year of the marketing plan.
Use the chart to organize this information. Add lines as needed.
Marketing Cost Center Description
Results Evaluation Strategies
In a short narrative, describe how you will monitor and measure your success relative to your
marketing objectives. You should have specific measurement points and strategies for each of
your Marketing Objectives that you have listed in section I. C.
List all of your references alphabetically. You should have at least one citation for every
reference in the body of your plan.
Use the reference and citation generator in the “West Writing Center” to ensure that all
references and citations are correctly formatted.

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