wk 10

Week 5 Assignment - Marketing Plan and Budget

Criteria

Ratings

Pts

Complete the company’s target market description based on the instructor’s feedback received. <b6ba9f62-2f4e-4669-a508-94b858b30043>

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18.75 to >16.88 pts

Exemplary

Completed the company’s target market description based on the instructor’s feedback received. <619c674d-59d0-4fc6-a071-3ccfc39e4414>

16.88 to >14.99 pts

Competent

Completed the company’s target market description but the use of the instructor’s feedback is incomplete. <b9c76336-976d-4ae5-8bc4-490ad62e304e>

14.99 to >13.13 pts

Needs Improvement

Completed the company’s target market description but did not use the instructor’s feedback correctly. <afb9e3c5-5caa-43c7-91eb-262df02d8fc6>

13.13 to >0 pts

Unacceptable

Did not complete the company’s target market description based on the instructor’s feedback received. <2fe8da2b-4a58-40d7-aa8c-cba925d26099>

Comments

Paula,Nice work describing the target market. The target market must be definable (what the customers have in common), meaningful (how it relates to the decision to purchase), sizable (large enough to support your business), and reachable (be able to market to these individuals). The more you know about your target market, the more likely you are to design an effective marketing strategy to nudge these customers to buy, which is the ultimate goal.

18.75 / 18.75 pts

Assess the company’s top three competitors. <80c2ac8a-7966-4c5f-b03c-15d14f1c778f>

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25 to >22.49 pts

Exemplary

Identifies and succinctly describes the company's top three competitors, demonstrating a clear understanding of the competitive landscape. Supports the information with appropriate resources.<1eff1cd1-77a3-4df5-ad80-8a08b4bc7e9d>

22.49 to >19.99 pts

Competent

Offers a competent analysis of the competitors, but it may lack depth or miss some key aspects.<a8cdb8b6-aa93-4eb2-8140-b72604c01554>

19.99 to >17.49 pts

Needs Improvement

The analysis of competitors is superficial or incomplete, lacking in-depth insights or missing critical aspects, indicating a limited understanding of the competition. <b793272b-7d9e-4cb2-a601-f58cdd43d4dd>

17.49 to >0 pts

Unacceptable

Did not assess the company’s top three competitors. <c2965c53-99e5-4b5b-b9fd-15688a5494b5>

Comments

Good work identifying the competitors. An analysis of the top three competitors was required. Support your findings with resources. Check on the market share of your competitors. Market share is calculated by dividing the company's sales over the period by dividing it by the industry's total sales over the same period. This information is key to understanding how competitive a company is. The increases and decreases in market share are monitored carefully to determine how a company is doing. A company growing its market share will grow its revenues faster than its competitors. Keep up the good work, Paula!

22.49 / 25 pts

Develop a plan that includes how you compare yourself to your competitors currently and how you will differentiate yourself from the competition in the future. <3ee832a0-5c5e-4654-8654-cb8d2167b5b8>

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25 to >22.49 pts

Exemplary

Developed a plan that includes how you compare yourself to your competitors currently and how you will differentiate yourself from the competition in the future. <e4e227da-d9d7-4784-97f8-a16b0728dbb8>

22.49 to >19.99 pts

Competent

Developed a plan that includes how you compare yourself to your competitors currently and how you will differentiate yourself from the competition in the future, but the plan is incomplete. <edda7212-facb-4c82-8b43-52dda0471802>

19.99 to >17.49 pts

Needs Improvement

Developed a plan that includes how you compare yourself to your competitors currently but did not include how you will differentiate yourself from the competition in the future. <5ab65ad9-1b88-4c35-a4e8-f3fdabe8ab4a>

17.49 to >0 pts

Unacceptable

Did not develop a plan that includes how you compare yourself to your competitors currently and how you will differentiate yourself from the competition in the future. <ccba461f-e946-48e1-b690-d28222426ec6>

Comments

Good work overall with developing a competitive plan. To make this answer more robust, describe in more detail the steps that you will take to implement the competitive plan. The plan should be strategic and consider what is happening in the industry now and in the future. When developing the plan, be sure to think about every aspect of the business, as it can have an impact on the customer's experience.

22.49 / 25 pts

Outline the company's value proposition. <c8a02a15-52ac-4a74-ac1c-b028c309a1cd>

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25 to >22.48 pts

Exemplary

Outlined the company's value proposition. <e2ba66fc-d91f-4458-a104-811ceb1de7ed>

22.48 to >19.99 pts

Competent

Outlined the company's value proposition but the outline is incomplete. <457d2271-806a-44d8-a871-29b5592a83d4>

19.99 to >17.48 pts

Needs Improvement

Outlined the company's value proposition but the outline is incorrect. <be00669d-6943-47f7-9579-a3697f45280b>

17.48 to >0 pts

Unacceptable

Did not outline the company's value proposition. <7ba57934-9c03-476a-bf4b-5b5f467344c6>

Comments

Good work overall outlining the value proposition. The value proposition must be very clear so that everyone can understand the value you provide and how you stand out from the competition. Outlining what the customer will get in exchange for the money they give you, the value you provide, is a must. It is important that a customer knows upfront what to expect from the company as that plays a part in where they will spend their money.

22.48 / 25 pts

Detail the marketing vehicles you will use to build your chosen company’s brand. <80d95e61-a6bc-43d9-ae9d-2ef129a96c42>

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25 to >22.48 pts

Exemplary

Detailed the marketing vehicles you will use to build your chosen company’s brand. <e4886560-f7d9-4cf6-841e-78aae3c52f48>

22.48 to >19.98 pts

Competent

Detailed the marketing vehicles you will use to build your chosen company’s brand, but the marketing vehicles detailed are incomplete. <4fd926f8-a2a1-4334-afc1-7493e1a208d1>

19.98 to >17.48 pts

Needs Improvement

Detailed the marketing vehicles you will use to build your chosen company’s brand, but the marketing vehicles detailed are incorrect. <ae56ac59-a9ab-4bdf-8b3f-3de2f454e2c8>

17.48 to >0 pts

Unacceptable

Did not detail the marketing vehicles you will use to build your chosen company’s brand. <8cdd993a-1980-4cc4-83d6-0162b733a977>

Comments

The marketing vehicles table and discussion were mostly completed as required. Provide a rationale for selecting each marketing vehicles and why you believe they will be effective in promoting your business. There may be a need to adjust these numbers and information as you complete the entire business financials document and as you develop your business plan. It is critical that you attach a number to all the marketing activities you planned to determine how much you need to spend. You can revise this section as you develop your plan just make sure it is a reflection of the information you have in the current version of the plan.

22.48 / 25 pts

Write a paper that is clear, includes appropriate writing mechanics, and follows SWS formatting requirements. <80d95e61-a6bc-43d9-ae9d-2ef129a96c42>

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6.25 to >5.63 pts

Exemplary

Writing has very few spelling, punctuation, and grammatical errors; few fragments, comma splices, and run-ons. 0–2 errors present. <e4886560-f7d9-4cf6-841e-78aae3c52f48>

5.63 to >5 pts

Competent

Writing has spelling, punctuation, and grammatical errors that are distracting in a few places; few fragments, comma splices, and run-ons. 3–4 errors present. <4fd926f8-a2a1-4334-afc1-7493e1a208d1>

5 to >4.38 pts

Needs Improvement

Writing has spelling, punctuation, and grammatical errors that are distracting in some places. 5–6 errors present. <ae56ac59-a9ab-4bdf-8b3f-3de2f454e2c8>

4.38 to >0 pts

Unacceptable

Writing has spelling, punctuation, and grammatical errors, fragments, comma splices and run-ons that distract from the message. More than 6 errors present. <8cdd993a-1980-4cc4-83d6-0162b733a977>

Comments

As a final note, there were a few formatting issues with the paper. Some of the required headers are missing. When using the required templates, be sure not to remove any of the headers to ensure that you include all the headers. Be sure to check the template again and review the paper to ensure there are no spelling errors. Use Grammarly to check your paper. Make the necessary adjustments for the final business plan due in Week 10.

5.63 / 6.25 pts

Total Points: 114.32