Your MK101 final project is a project that is designed to simulate the real business world that you will soon enter which requires work. Your professor will ask you to individually prepare a “Marketing Plan Project”. For this assignment – it is not enough to just summarize available information. This assignment requires that you think critically; explain your decisions fully; demonstrate your knowledge of the information covered in class and clearly articulate your own ideas.
Objective: Develop a marketing promotion proposal for a product OR service that you choose. It should be a new product or service. If you or your family has a business, you may use it as the subject of your plan. Your marketing plan should contain the basic elements contained in the example posted: “Marketing Plan Appendix” (Marketing, 9th Ed, Lamb, Hair & McDaniel, Thompson Publisher, pages 58 – 64).
THS IS NOT A RESEARCH PAPER. DO NOT CUT AND PASTE EXISTING INFORMATION. YOU MUST INCLUDE THE TOPICS BELOW AS HEADINGS AND BE CREATIVE AND MARKET THE PRODUCT!
The following must be included in your marketing promotion project:
1. Product Description: Brief history of company
2. SWOT Analysis (look inside the company for the strengths & weaknesses, and outside in the market for opportunities and threats).
3. Target Market Strategy (use segmentation variables to describe the characteristics of your target market. Make sure to use demographic and psychographic variables among the variables you use)
4. Marketing Mix: 4 P’s