Syllabus Mkt 421

Question: Outline the marketing process and explain the importance of each element of the marketing plan.

Before proceeding with the next section (objectives), it is recommended that you complete the Marketing Plan Worksheet. Ask the academic mentor in the learning community for this if you do not have it.

Ensure that you have clearly stated what your Marketing Plan is designed to do, e.g., measurable goals by which you will increase units sold, dollars of revenue made, etc. What do you want to accomplish?

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I. Executive Summary II. Situation Analysis o Market Summary  Target Market Demographics  Geographic  Demographics  Behavior Factors Market Needs Market Trends Market Growth o SWOT Analysis  Strengths  Weaknesses  Opportunities  Threats o Competition o Product Offering o Keys to Success o Critical Issues III. Marketing Strategy o Mission o Marketing Objectives o Financial Objectives o Target Markets o Positioning o Strategies o Marketing Mix o Marketing Research o Action Plan IV. Financials o o o V. Controls o o o VI. Summary Implementation Marketing Organization Contingency Planning Breakeven Analysis Sales Forecast Expense Forecast

Create a new product or service for an existing organization. This product or service will be the basis for your Marketing Plan Paper. Obtain your instructor’s approval of your product or service before beginning this project.

The marketing plan should have objectives that meet the SMART criteria, which are specific, measurable, achievable, realistic and time specific. The first objective of the marketing plan is to raise awareness for the product, which is measurable because we can take studies of consumer awareness. We want to have this product known by 5% of total consumers and 50% of the target market within one year. The second objective is with respect to media coverage. We want to have stories about this product appear in 100 print and online publications (via syndication, most likely) within six months. Also we want the number of media inquiries at our office to be at least 20 in the first month and 50 in the first two months. Also, in the first year, sales should be 2000 units, or $2 million in revenue.

2) What are the key components of a marketing plan? List and describe each component briefly.

I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.

I want to learn how to create marketing plans. For 4 different events, I have to come up with marketing plans this semester. I’ve created one already, my boss gave me feedback so I can keep improving my plans throughout my internship.

“Setting objectives for a marketing plan is not simple and straightforward matter. It is an iterative process whereby objectives are set, strategies and action plans are developed, and then it is decided whether the planned objectives are impossible, achievable or easy. Marketing objectives should be difficult, but they must be achievable. The aim is to set objectives that a challenge, but can be achieved with effort. They must be motivating rather than discouraging.” (Westwood, 2002).

Armstrong, G. & Kotler, P., (2003), Marketing--An Introduction, 6th edition, Prentice Hall, U. S. A.

I’m an undergraduate student majoring in economy prepared the marketing plan for the purpose of learning and experience.

Prior to this class, although I have some experience in a marketing type role, I thought of marketing as the process that was activated post product development and the vehicle to product/service promotion and advertisement to the marketplace. Through this class, I have a greater understanding of marketing, and realize promotion and advertisement is just a fraction of it, and has much more depth. Marketing begins at the beginning, and is integrated through to the end of the life cycle. It has a significant impact on the development stages as well as delivery to the marketplace. Marketing is a set of procedures facilitated in businesses for creating, communicating and delivering value to customers. Furthermore, marketing is about

April 20, 2013 Mr. Kazi Mahfuz Mamtazur Rahman Course Instructor Service Marketing (MKT 402) Institute of Business Administration Jahangirnagar University