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MKT 500 Final Project Milestone Five: Marketing Strategy—Product/Service Guidelines and Rubric Overview: Your marketing mix is a detailed description of the 4 Ps: product, price, place and promotion. For this assignment, focus on your product or service. Revisit your new product/service idea and describe for your audience what it is that you wish to bring to market. If it is a product, expand on your description of the product, its functionality, and customer benefits. If it is a service, describe the service offering so that readers understand what they would receive. It is important to remember that by definition, a product is anything that can be offered to a market for use or consumption that will satisfy a need or want in that marketplace. Products also include services, events, places, organizations, ideas, or persons. Products can be either tangible or intangible. Classify the product based on what we have been reading in our textbook. Include a discussion of your branding strategy, the decisions that you will make in building your brand, and how you intend to manage brand equity. This milestone is due in Module Five. Your description should include:

 A detailed description of what your product or service is and how it will work

 What specific features and benefits your product or service provides to the intended target market

 A description of the aesthetics, packaging, labeling, or look, of your product. For a service describe the service offering so that the reader understands what they would receive

Ensure that you have adequately described your product or service so that by the time your product or service description is written, the reader understands what you want to bring to market. If you have a service description, the reader needs to know where you are located, what your service offers, and so on. Describe it so that the reader envisions the product or service.

Rubric Guidelines for Submission: Your paper must be submitted as a 3- to 4-page Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and APA formatting. Incorporate at least two scholarly resources.

Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value

Marketing Strategy: Marketing Mix – Product/Service

Provides a detailed description of the “Product” portion of the marketing mix, including features, benefits, packaging, and labeling

Provides a detailed description of the “Product” portion of the marketing mix, but description lacks detail or is missing key components

Does not provide a description of the “Product” portion of the marketing mix

60

Marketing Strategy: Relation

Describes how the product marketing strategy specifically relates to the company’s strategic focus, culture, and current business processes

Describes how the product marketing strategy relates to the company’s strategic focus, culture, and current business processes, but description is cursory or missing key components

Does not describe how the product marketing strategy specifically relates to the company’s strategic focus, culture, and current business processes

20

Application of Marketing Principles

All marketing principles are applied correctly and authentically

Most marketing principles are applied correctly and authentically

Marketing principles are applied incorrectly or not authentically

10

Incorporation of Scholarly Sources

Incorporates at least two properly cited, scholarly resources that reflect depth of research

Incorporates at least one properly cited, scholarly resource

Does not incorporate any properly cited, scholarly resources

5

Mechanics Errors of grammar, organization, and style are marginal and rarely interrupt the flow

Errors of grammar, organization, and style are limited enough that the paper is still able to be understood

Errors of grammar, organization, and style make the paper difficult to understand

5

Total 100%