Marketing Help

MKT 500 Final Project Milestone Four: Organizational Objectives and Strategy Guidelines and Rubric Overview: This section of the marketing plan addresses the organizational objectives and the target market plan for your company. This milestone is due in Module Four. Objectives Before the specific details of a marketing plan can be developed, objectives for the plan must be stated. Without objectives, there is no basis for measuring the success of your marketing plan activities. Marketing objectives are statements of what is to be accomplished through marketing activities. You must develop at least five marketing objectives as part of your planning process. These answer the question “What do you plan to accomplish?” Objectives should be realistic, measurable, and time-specific. Objectives must also be consistent and indicate the priorities of the organization. Your objectives section should address the following:

A. For your company, formulate at least five marketing objectives related to the new product/service that are realistic, measurable, time-specific and

comparable to a benchmark. B. Discuss the objectives as they relate to commercial, legal, and cultural aspects of a global business environment.

Target Market The target market strategy identifies which market segment or segments to focus on in light of what the competition is doing. For this assignment, identify segmentation data and determine your target market. The process begins with a market opportunity analysis, or MOA, which describes and estimates the size and sales potential of market segments that are of interest to the firm. In addition, an assessment of key competitors in these market segments is performed. After the market segments are described, one or more may be targeted by the firm. If your segmentation is too general, you will find that your subsequent promotional mix will be equally general, as you will not have described your market with sufficient specifics. For example, have you provided measurable segmentation variables, or have you described your market as “everyone who needs PC storage” or “everyone in Smithville who likes Italian food”? Your target market section should address the following:

 Describe your target market, whether a business or consumer market, using segmentation variables. These include the use of demographics, psychographics, geodemographics, geographies, behavioral segments, or other segmentation criteria.

 Describe your rationale for selecting the target market(s) that you did. State why these markets are attractive to you as a marketer.

 Describe the market in terms of its anticipated growth, revenue opportunities, past performance, etc. Utilize our author’s criteria for segmentation to demonstrate that your target market(s) suggest the likelihood of success—the market needs to be identifiable, measurable, sustainable, accessible, and reachable.

Rubric Guidelines for Submission: Your paper must be submitted as a 4- to 6-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 Objectives: Formulation

Recommends realistic, measurable, time-specific marketing objectives and identifies the benchmark to which they will be compared

Recommends marketing objectives, but they fail to completely adhere to being realistic, measurable, time- specific or submission does not identify the benchmark to which they will be compared

Does not recommend marketing objectives

20

Marketing Objectives: Relation

Comprehensively outlines the relationship between the stated objectives and commercial, legal, and cultural aspects, specifically in context with a global environment

Outlines the relationship between stated objectives and commercial, legal, and cultural aspects, but not specifically in context with a global environment, or the discussion lacks breadth and depth

Does not outline the relationship between stated objectives and commercial, legal, and cultural aspects

20

Marketing Strategy: Target Market

Recommends a detailed marketing strategy for the new product that is measurable, sustainable, accessible, and reachable and provides rationale for selecting the target market and includes competitive analysis

Recommends a marketing strategy for the new product, but the strategy does not meet all aspects (measurable, sustainable, accessible, and reachable) or rationale for selecting the target market lacks sufficient detail or competitive analysis

Does not recommend a marketing strategy and/or competitive analysis for the new product

20

Application of Marketing Principles

All marketing principles are applied correctly and authentically

Most marketing principles are applied correctly and authentically

Many marketing principles are applied incorrectly or not authentically

20

Incorporation of Scholarly Resources

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

10

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

10

Total 100%