For Tom Mutunga Only 2

Strategic Marketing Plan:

Type Name of your Product/Service Here

Date of Submission

Abstract

This is a single paragraph, no indentation is required. The next page will be an abstract; “a brief, comprehensive summary of the contents of the article; it allows the readers to survey the contents of an article quickly” (Publication Manual, 2010). The length of this abstract should be 35-50 words (2-3 sentences). NOTE: the abstract must be on page 2 and the body of the paper will begin on page 3.

Edit each assignment so that only the pertinent aspects are added to your Final Plan. Update any assignment if necessary. If the materials in the weekly assignments contain citations, then they should be included in this paper as well. Strategic Marketing Plan:

Type Name of your Product/Service Here

Introduction

Remember to always indent the first line of a paragraph (use the tab key). The introduction should be short (2-3 sentences).

Mission Statement

Remember: the mission statement is a succinct statement of 25 words or less.

Objectives

The content comes from our study of marketing objectives. They should be stated as bullet points. Remember the SMART acronym. Only two to three objectives should be selected.

Customer Targets

The discussion of your target market, when combined with your discussion of your competitor targets and industry overview, will comprise a major section of the plan. These three components together will comprise 2 ½ to 3 pages of your plan. Be sure to include demographics, geographics, and any other segmentations chosen for your product/service. The Census Bureau can be an excellent source for this segment of your paper. Include, either here or at the end of your discussion of your competitors and their targets, a thorough discussion of your industry. Is it trending up, down, flat? Where are there growth opportunities?

Competitor Targets

Identify two to three competitors. Include historical information and detail their target markets. You must utilize sources from the library in addition to using these companies’ websites. Hoover’s is an excellent source to use

Product/Service Features

Product/Service Features. This section should be a substantive discussion not only of your product’s features, but also of your core competencies. The discussion will be two to three paragraphs.

Core Strategy

Your core strategy is comprised of your value proposition and your positioning statement plus your mission statement. The message you deliver through your IMC elements will be based on the value/s you’re proposing to deliver and the position you want to occupy in your target market consumers’ minds.

Marketing Mix: Communications & Promotion

The content on Marketing Mix: Communications & Promotion (include Rationale, Messages & Measurement Strategy) will be 2 ½ to 3 pages of content. Include which 3 IMC elements you’ll utilize, why and how you will use them. Then also include why you are not choosing the other 2 IMC elements. Be sure to include how you will utilize the internet in your IMC. Be detailed in this section. Make sure you include how you will measure the effectiveness of your 3 chosen IMC elements (hint: Google Analytics, customer surveys, etc.) Discuss the message that will be conveyed, which is based on your value proposition and positioning statements.

Marketing mix: Price

The focus here is on your pricing objectives and strategies, rather than setting a specific price. This section needs to be 2 to 3 paragraphs. Research can support why you’ve chosen your particular objectives and strategy. The three most common pricing strategies for new products are price skimming, price penetration, and premium pricing. On our chats, we discussed these and the other strategies as well as possible objectives for your pricing. Be sure to include research on why your chosen pricing strategy is the best one for your product/service Hint: there is excellent content in Entrepreneur magazine on pricing.

Marketing Mix: Channels of Distribution

Specify the type of distribution channel/s you will use and include rationale. Research MUST include articles from the library’s full-text databases. This section should be 1 to2 pages in length. You may want to include channel organization in your discussion. There is content in your textbook and in intellipath on channels of distribution. (Hint: KnowThis in our library has excellent short tutorials on distribution. You’ll find this source listed under web resources. If you need help finding it, be sure to contact a librarian for assistance.)

Marketing Mix: Customer Relationship Management

Detail how you will incorporate CRM into your plan. Be sure to include a discussion on the role of technology that will be used to support your CRM. Research MUST include articles from the library’s full-text databases. This section should be 1 ½ -2 pages in length. Keep in mind that CRM is how you keep a customer once they’ve purchased from you. Some CRM techniques include customer loyalty programs, birthday discounts, free shipping. You’ll find a wealth of articles on this topic.

Conclusion

Add some concluding remarks-can be a sentence or two.

Total length of paper needs to be 10 to 12 pages of well-written, well-researched content.

References

NOTE: The reference list starts on a new page after your conclusion. You’ll need to format this page using APA. Be sure to use your textbook as a resource and then you’ll need approximately 20 sources total. I’ve shared resources during our chats. Always remember our wonderful librarians are available 12 hours Sat-Thursday and 8 hours on Friday to help you find research material.