Creating a Marketing Plan

Feedback from Assignment 1

Introduction: You did not provide a pertinent introduction of your hypothetical company or your company is not a hypothetical company. It is not clear what your product/service is and there is no physical location. The contents of your marketing plan were not introduced.

Mission Statement: This is a good mission statement, but more rationale was needed. Only four of the five questions in a mission statement were addressed. What does the mission statement convey to consumers/customers as well as internal employees and stakeholders -see the purpose of a mission statement, page 21 of textbook.

Goals: Your stated goals of revenue, profit, market share, brand awareness or customer acquisition are SMART goals: S. – Specific; M. – Measurable; A. – Assignable; R. – Realistic; T. – Time based. There were no measurements provided for your goals.

Environmental Analysis: All the elements of the environmental analysis were addressed and explained. Good job being thorough and exhibiting an understanding of the environmental factors. Remember that environmental factors are outside of your direct control, but each of these factors has influence over your business.

SWOT Analysis: The SWOT and Needs Analyses are on target and show how your company will fare in the market. Your strengths and weaknesses are clearly internal as you can control them. Your opportunities and threats are clearly derived from the environmental analysis and, while you cannot control them, they can have a direct impact on your hypothetical business.