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Develop a marketing plan for the suggested brand in Assessment 1. Your report should include at least the following:
– a clearly identified target group
– analysis of competition
– branding elements supporting the positioning of the product
– suggestions on pricing
– suggestions on channel management (distribution)
– suggestions on the promotion element of the marketing mix
– marketing goals and specific KPs to monitor performance vs.goals
Develop a marketing plan for the suggested brand in Assessment 1. Your report should include at least the following:
– a clearly identified target group
– analysis of competition
– branding elements supporting the positioning of the product
– suggestions on pricing
– suggestions on channel management (distribution)
– suggestions on the promotion element of the marketing mix
– marketing goals and specific KPs to monitor performance vs.goals
Develop a proposed budget of $150,000 for the first year of the program and complete the final concept paper for the proposed program due for senior management review.
The budget should identify the program’s anticipated expenses for the year ahead. Budget line items should be consistent with the proposed program and staffing plan.
Using the readings for the week, the South University Online Library, and the Internet, complete the following tasks:
Create a proposed budget of $150,000 for the first year of the proposed program including the cost for personnel, supplies, education materials, marketing costs, and so on in a Microsoft Excel spreadsheet. You may transfer your budget to your report.
Justify the cost for each item of the proposed budget in a budget narrative.
Executive Summary
The executive summary will serve as a one page overview of your proposed program. You may use the executive summary to draw in your reader—the senior management team. It should provide a compelling argument as to why your proposal should be funded. Be sure to include a brief overview of each component of your proposal: goals, needs statement, marketing plan, staffing plan, and budget.
Final Paper
The final paper should include the following sections:
Executive Summary
Goals and Purpose of the Program
Needs Statement
Marketing Plan
Staffing Plan
Budget
In the next several units, you will be creating a marketing plan for a company. Submit a draft of your marketing plan to your instructor for review and feedback. This draft only needs to include a discussion of the product or service that you select and the pricing strategy that you anticipate to use. The details to include are provided below.
Product
In this section, discuss your proposed product strategy.
● Identify the company for which you will be creating a marketing plan, and describe the product or service. If you choose a large global company, you must create a new product; however, this new product may be an upgrade of an existing product. Also, make certain that you select a company that you have not used for other assignments in the course.
● Explain how your product or service will be classified according to use, durability, and involvement.
● Identify where your product or service falls on the product life cycle.
Pricing
● Identify pricing goal(s).
● Discuss key determinants of price.
● Compare and contrast different pricing methods to choose a pricing strategy
● Explain how you might fine-tune the base price with price-adjustment strategies.
Your summary must be at least two pages in length and be double-spaced. APA formatting is not necessary.