Marketing Plan Part B

Please review the feedback below. It important you make changes now in order to have everything needed for your final project. Please review my feedback. Introduction: Please explain more of your hypothetical company. The product/service description is not clear and the plan for a physical location presence is not clear. More details were needed to score in the exemplary category. You also need to introduce the contents of your marketing plan.Mission Statement: See textbook, page 21 "To define its mission, a company should address Peter Drucker’s classic questions: What is our business? Who is the customer? What is of value to the customer? What will our business be? What should our business be?" Only three of these questions were addressed in your mission statement.Goals: You did not provide detailed goals and measurements. Goals of revenue, profit, market share, brand awareness or customer acquisition are appropriate. Many of the goals that you provided are really strategies to achieve the goals themselves. Please review SMART goals: S. – Specific; M. – Measurable; A. – Assignable; R. – Realistic; T. – Time based. Where are your measurements?Environmental Analysis: You only addressed four of the six areas of the environmental analysis. Please see textbook pages 45-51.

Competition: Who specifically is the competition and why do you consider them as such?

Political and Legal: Here government regulations and legal factors are assessed in terms of their ability to affect the business environment and trade markets. The main issues addressed in this section include political stability, tax guidelines, trade regulations, safety regulations, and employment laws.

Economic: Through this factor, businesses examine the economic issues that are bound to have an impact on the company. This would include factors like inflation, interest rates, economic growth, the unemployment rate and policies, and the business cycle followed in the country.

Technological – How technology can either positively or negatively impact the introduction of a product or service into a marketplace is assessed here. These factors include technological advancements, lifecycle of technologies, the role of the Internet, and the spending on technology research by the government.

Social – With the social factor, a business can analyze the socio-economic environment of its market via elements like customer demographics, cultural limitations, lifestyle attitude, and education. With these, a business can understand how consumer needs are shaped and what brings them to the market for a purchase.SWOT Analysis: This section should include both a written SWOT analysis containing at least three of each elements with rational and a SWOT table summarizing each. You did not provide three elements for each point within the SWOT analysis. You also did not provide the needs analysis to show your understanding. See textbook page 21.References and Citations: You paper meets the required number of references, but some references are poor quality choices. You did not use enough academic, peer reviewed references. Use at least three (3) academic resources as quantitative marketing research to determine the feasibility of your product / service. In order to receive most points, you must submit four or more. These resources should be industry specific and relate to your chosen product / service. Note: Newspapers, magazines, and other Websites do not qualify as academic resources and although you should reference if you use, they do not count towards your minimum. Quality references are peer-reviewed, scholarly journal published in the last 5 years. A good way to incorporate is by using Journal of Marketing for your theories and consumer behavior observations. Listing your references without applying them in your text (citations) is not acceptable. Every statement you make that you got from somewhere needs to be paraphrased (not copied and pasted) and cited along with reference provided in reference section.Click here for more info on references and citations formatting.Mechanics: Do not use first or second person; eliminate the use of I, we, our, you, yours, etc. Please use the templates EXACTLY as provided in assignments and announcements. The templates are APA formatted, has all the elements needed that matches the rubric, and has tips so you gain the most points. As a final note, there were multiple grammatical issues with this paper. Please make sure to proofread your paper before submitting it. One of the best ways to do this is to read it aloud. Hearing what you've written is a great way to catch grammatical issues. Use of Quotes: quoting should be done only sparingly; be sure that you have a good reason to include a direct quotation when you decide to do so. To exhibit scholarly writing and share your own thoughts, you should paraphrase. Use of quotes as one of my professors told me once is “lazy” writing. Here is a link for more details. and here is a link for examples on how to paraphrase. APA Writing basics: