Marketing Plan Assignment Instructions
Overview
In many organizations, the assignment and completion of projects are increasingly completed in months or years. Technology, such as teleconferences, video-teleconferences, and computer technology, has allowed organizations to reduce the costs of sending employees cross-country or overseas. To succeed in this environment, you must adapt and react to changing business dynamics in the marketplace. This assignment provides the experience to help you learn to develop a dynamic marketing plan.
Instructions
Imagine a product or service that does not exist, but if it did, consumer demand for the product (or service) may be significant. A new product is not a slight change to an existing product (e.g., watermelon cola) or a repackaged existing product. The imagined product does not have to be practical or even possible. Be creative – this assignment is meant to be enjoyable!
Next, select a Fortune 500 company that will bring this product to market – (a publicly traded company is recommended) large enough for abundant researchable data about the company. A helpful resource to examine a company’s financial performance over time is provided on the Marketing Plan Assignment page as U.S. Securities and Exchange Commission: Company Search.
Note: Each student must submit his/her ideas to the instructor for approval before beginning the marketing plan or risk losing points or needing to start again with the university’s late assignment policy applied.
This marketing plan assignment consists of four drafts, each due two weeks apart. The Executive Summary is located at the beginning of the marketing plan. However, it need not be completed until the final draft during the Marketing Plan: Final Plan Assignment.
Where to discover the needed information:
- From the text. The Marketing Plan Assignment (draft) topics closely follow the marketing principles found in the textbook. This Marketing Plan Assignment is similar to an example in an earlier chapter reading of the Appendix.
- Research. The text will not provide specifics about the chosen company, its products, markets, consumers, or competitors to the company; these are company-specific and easily researchable. For instance, “target markets” in the text will discuss what a market is, why a market is selected, how to promote the market, etc. Your outside research will provide information about your chosen company’s target markets (e.g., Goodyear Tire – automotive, airlines, transportation, etc.).
How much detail per section is required?
With two weeks between drafts, there is adequate time to comprehensively detail each draft’s four or five topical sections. Tables may be helpful for specific information (e.g., SWOT), with explanations beneath the table.
There are many kinds of marketing plans. Some are internal plans or strategies preparatory to product development that may be subject to management approval and may be acted upon, shelved for later consideration, or not acted upon. These would be internal marketing plans. The marketing plan in this course begins with product rationale and considers the many variables involved in defining, developing, and introducing a new product to a selected target market.
The two components of this plan are 1) the new product and 2) the selected company. Many draft topics are primarily relevant to the selected company (e.g., Company Overview, Mission Statement). As the company is a going concern, it will have existing products or services, competitors, operate within specific industries, serve targeted markets, and possess core competencies, strengths, and advantages – most of the draft topics are about the company. The imagined new product complements the company’s marketing plan; that is, the new product may be an incidental part of topical discussions such as the product section, target markets, points of (product) differences, and sustainable competitive advantages, among others. The predominant focus of this marketing plan is the company, its history, present strengths, intent, and ability to introduce the new product that has been chosen.
The plan is structured to introduce students to various marketing variables, tools, and strategies found in the textbook and real-world marketing plans. The topics are not exhaustive – they are an introduction to marketing principles, complementary to the purpose of this course.
This plan will be developed in stages (four drafts). Each draft assignment builds on the previous section toward the completed Marketing Plan (MP) due at the end of the course, which will include all four sections.
Sections are due by the end of the respective Module: Week, as shown:
| Module: Week | Assignment Title |
| Module 2: Week 2 | Marketing Plan: Company Analysis Assignment |
| Module 4: Week 4 | Marketing Plan: Situation Analysis Assignment |
| Module 6: Week 6 | Marketing Plan: Marketing Strategies Analysis Assignment |
| Module 8: Week 8 | Marketing Plan: Final Plan Assignment |
Researching and Writing Your MP
College-level writing is expected for this project. Areas where students have had problems in the past include:
- Spelling and grammar.
- Omission of required topics or subject material.
- Omission of outside references.
- Plagiarism.
- Failure to meet stated length requirements.
The current edition of APA is the formatting requirement. Use the Liberty University Online Writing Center as an aid.
Marketing Plan (Draft) Assignment Sequence and Topical Requirements
Marketing Plan: Company Analysis Assignment
Marketing Plan: Company Analysis
1.0 Executive Summary (due in Final Plan Assignment)
2.0 Company Description
3.0 Strategic Plan and Focus
3.1 Mission
3.2 Goals
3.3 Core Competency
3.4 Sustainable Competitive Advantage
Marketing Plan: Situation Analysis Assignment
Marketing Plan: Situation Analysis
4.1 SWOT Analysis
4.2 Industry Analysis
4.3 Competitor Analysis
4.4 Company Analysis
4.5 Customer Analysis
Marketing Plan: Marketing Strategies Assignment
Marketing Plan: Marketing Strategies
5.1 Marketing and Product Objectives
5.2 Target Markets
5.3 Points of Difference
5.4 Positioning
Marketing Plan: Final Plan Assignment
Marketing Plan: Final Plan
6.1 Product Strategy
6.2 Price Strategy
6.3 Promotion Strategy
6.4 Place (Distribution) Strategy
7.0 Financial Data and Projections
7.1 Past Sales Revenues
7.2 Five-Year Projections
References
Appendices (if any)
Note: Complete the Executive Summary during this last module and insert it in the Executive Summary section in the Marketing Plan: Company Analysis Assignment area.
Note: Your assignment will be checked for originality via the Turnitin plagiarism tool.
