The textbook describes marketing planning as the systematic process of assessing marketing opportunities and resources, determining marketing objectives, defining marketing strategies, and establishing guidelines for implementation and control of the marketing program. The outcome of planning is a written document that outlines the activities and objectives necessary to implement marketing strategies successfully – a marketing plan. The marketing plan provides a framework to stimulate thinking and provide strategic direction.
The objective of this individual or group task is to develop a new marketing plan for a product or service of a given U.S. brand. It will be a company that is easy to research, one that has been written about regularly in marketing magazines or one that students have access to the information via the world wide web. No direct contact is allowed with organizations unless students have a prior personal or professional relationship. All research should otherwise be desk research or observation. After researching a brand review the products and services being sold.
In 3 – 4 pages (not including the title and work cited pages):
- Present your product.
- Marketing implementation – How will you and your marketing team implement your marketing strategies to your target audience?
- The performance evaluation – Explain how the company will evaluate the performance of the implemented plan (includes performance standards, financial controls, and monitoring procedures).