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Marketing Management Week 5 Assignment 2
Assignment 2: Final Project Part 2
This week, you will finalize your marketing plan for your selected product or service. Do not incorporate Part I in this week’s submission. However, in preparing for Part II, you may have to consider some of the suggestions made by the instructor in Part I.
Complete the following for your marketing plan:
- Justify the pricing strategy you will employ. Perform a breakeven analysis to determine how many customers you will need to make your business financially viable.
- Defend your distribution strategy. Determine if there are additional channels you should pursue and why.
- Justify your integrated marketing communications plan. Discuss the key themes of your campaign and link them to how your business, service, or product will satisfy your target market needs. Describe each element of the promotional mix in detail and explain how you will integrate the different elements of your promotional mix toward the target market using the key themes. This includes the following elements:
- Public relations
- Sales promotion
- Personal selling
- Direct marketing
- Interactive marketing
- Defend an implementation schedule for your marketing plan. Outline the time frame for the different media campaigns and specify milestones. You should outline who will be responsible for each action item and how you will track the deadlines to ensure the plan stays on schedule.
- Justified an evaluation process for the effectiveness of the marketing plan, including use of a marketing dashboard. Evaluation plan also included a sample dashboard.
- In table format, synthesized estimates for the marketing budget.
By Tuesday, September 6, 2016 submit a 5- to 6-page paper written in APA format. Search the South University online library for peer-reviewed articles to justify your marketing plan. Include a minimum of three peer-reviewed articles for your paper.
Additionally, you have been asked to prepare a budget. The budget should include estimates of forecasted sales, direct cost of sales, and your marketing expense budget. (Create an Excel sheet with the budget estimates and then copy/paste into your Word document.)
|Assignment 2 Grading Criteria||Maximum Points|
|Justified a pricing strategy, including a breakeven analysis to determine how many customers will be required to make the business financially viable.||30|
|Defended a distribution strategy, including determination of additional channels the firm should pursue and why.||30|
|Justified an integrated marketing communications plan (IMC), including the key themes integrated into each element of the promotional mix, linked to the business, service or product in a way that will satisfy target market needs.||40|
|Defended an implementation schedule for the marketing plan, including the time frame for the different media campaigns and milestones.||40|