Please read the assignment posted. Due by Friday-21-22 by 3:pm CST.

Assignment Objectives

Analyze marketing decision support systems and their impact upon marketing management systemsAnalyze the appropriate marketing strategies to apply at each stage of the product life cycleAssess the key factors, such as demographic, economic, natural, technological, political, and cultural developments, that affect marketing strategiesAssess the major influences in current consumer and organizational buying decisionsConstruct a strategic marketing plan

Assignment Description
STRATEGIC MARKETING PLAN

INTRODUCTION

This assignment entails development of a comprehensive strategic marketing plan for a new
product or service that is ready to “go to market”. A Project Template is provided that allows you to
organize your work in increments and see how the sections come together to produce a
comprehensive plan.

PRODUCT/SERVICE

This assignment requires application of concepts learned to build a strategic marketing plan for a
new product or service that is ready to “go to market”. You will not be allowed to mimic plans or
ideas from larger or already “in-place” campaigns. You must develop the business concept in its
entirety.

• Describe the new product or service.
• Discuss the qualities that make this product/service new to the marketplace and the

rationale for your decision to pursue the concept. Be sure to pick a product or service that is
ready to market. If you are developing a new product, assume that the development phase
is over and you are ready to launch the product into the marketplace.

OBJECTIVES/MISSION STATEMENT

Create a Mission Statement. State your short-term MARKETING objectives (one year). Assume that
the product/service is ready to launch at the beginning of the year (planning and testing have been
completed).

• Marketing objectives include goals for sales, profits, market share (as examples)
• Objectives need to be quantifiable. Use the SMART acronym—simple, measurable,

achievable, relevant, and time-specific—in formulating your objectives. An objective with a
100% goal is not acceptable

TARGET MARKET

Identify your target market. Provide a specific demographic profile and rationale for this decision.
Another source that may help you: The US Census Bureau’s American Fact Finder. Consider the size
of the market and its purchasing power. Research is required to back-up your selection and to
provide statistics to show that it is a viable market.

COMPETITION

Analyze your competition. Who are they? Who are the biggest players? How large is the market?
What are the trends/forecasts in the industry? How does your product/service fit in? Business
Source Complete in the Library is a good tool for this section; it may be accessed under Find Articles
& eBooks.

PRODUCT/SERVICE FEATURES

Provide a brief overview of the product or service.

• State the features of your product/service. Show how it’s innovative and different. It may be
unique because of the area in which you plan to market it.

• Discuss legal and ethical implications that could affect the marketing process. This will
require research.

CORE STRATEGY

Discuss your Core Strategy and make sure to connect it to your Mission & Objectives. Include a
discussion on Product/Service Positioning.

MARKETING MIX: COMMUNICATIONS & PROMOTION

The Marketing Mix is the set of decisions about communications and promotion, price, channels of
distribution, and customer relationship management. An integrated marketing communications
(IMC) approach delivers a clear and consistent message to your consumers and is connected to
your Core Strategy.

1. Discuss the aspects of the IMC. (The elements of the communication mix include:
advertising, direct marketing, sales promotion, publicity/public relations and personal
selling.) Define each and discuss the pros and cons of the individual elements.

2. Provide a detailed description of your IMC approach. Explain your rationale for choosing or
rejecting the specific elements (include applications to the earlier research section). What
changes do you expect to make as the product/service matures?

3. Describe the message you wish to communicate based on your core strategy. Explain your
rationale for the message. Formulate how you will communicate with your target market?
Be specific. How will the internet be used in your IMC approach?

4. Select and explain the most suitable method for measuring advertising effectiveness. Your
decision must include research to back up the selected method. Be sure to explain why this
is the most effective method to measure the effectiveness of your marketing campaign.

MARKETING MIX: PRICE

Discuss what pricing objectives you would consider for your product/service. The Objectives should
be based on the various theories presented in marketing literature and take in to account
competitor pricing. Including background on value proposition, positioning, and target market is
necessary. All of these components provide rationale for the chosen pricing scheme.

MARKETING MIX: CHANNELS OF DISTRIBUTION

Channels of Distribution: Specify the type of distribution channel you will use and include rationale.

MARKETING MIX; CUSTOMER RELATIONSHIP MANAGEMENT

Customer Relationship Management -Detail how you will incorporate CRM into your plan. Be sure
to include a discussion on the role of technology that will be used to support your CRM.

CONCLUSION

REFERENCES

The assignment requires the use of ARTICLES from the library’s full-text databases. Articles are
found in periodicals. These are not to be confused with eBooks or Reference Books. The most
popular databases in marketing are: ABI Inform Collection, Academic Search Complete, and
Business Source Complete.

Your report MUST include a reference list. All research should be cited in the body of the paper. In-
text citations and corresponding references should be included in your paper. For more
information on APA, please visit the APA Lab. The paper should be written in third person; this
means words like “I”, “we” and “you” are not appropriate. The use of direct quotes is discouraged,
but may be used sparingly in appropriate situations.