08 Oct Principles of Marketing

Principles of Marketing

Exercise 1: Marketing Plan. There are many reasons that companies utilize a marketing plan. For example, it will aid a company in reaching its target audience, boosting the customer base, and increase the bottom line and lastly, it can aid companies when setting clear, realistic, and measurable objectives! Marketing can be one of the most expensive and complicated business activities but it can also be one of the most important. The marketing plan can be presented in many different ways but they all start off with the announcement of the product and the business mission. These two elements allow the reader to understand what the marketing plan will be able and the values that back the product.

 

 

 

MKT105 Principles of Marketing

 

Module 2 Assignment  

 

Exercise 2: Marketing plan.  The second section of the marketing plan will allow you to better understand the external forces that can affect a product. Many organizations utilize environmental scanning to continuously monitor and evaluate the external environment. The elements that you will complete for this section of the marketing plan include the external environment factors the economy and competition. You will also be conducting a SWOT analysis.

 

 

 

MKT105 Principles of Marketing

 

Module 3 Assignment  

 

Exercise 3: Marketing plan.  The third section of the marketing plan will allow you to better understand the consumer and their behavior when buying products. Once you have defined and created your target market, now you need to understand them better, and the way that marketers understand their target market is through understanding consumer behavior. For this next phase of the marketing plan, you will create an outline of your customer base.

 

 

 

MKT105 Principles of Marketing

 

Module 4 Assignment  

 

Exercise 4: Marketing plan.  The fourth section of the marketing plan will allow you to better understand the proper market segmentation elements for your product. In this exercise, you will be defining your marketing mix (Price, Place, Promotion, and Product) and deciding on which elements of market segmentation (geographic, demographic, psychographic, and behavioral) work for your product.

 

 

 

MKT105 Principles of Marketing

 

Module 6 Assignment  

 

Exercise 5: Marketing plan.  The fifth section of the marketing plan will allow you to better understand the final marketing mix for your product. You can utilize feedback that was provided from exercise 4 to complete this assignment. This is similar to what you considered in exercise 4. It is important to consider everything possible for the marketing mix (4P’s) since this is what investors and others in the organization will focus on.

 

 

 

MKT105 Principles of Marketing

 

Module 7 Assignment  

 

Marketing Plan Outline

 

Outline for Marketing Plan:This outline tells you where to place the information from the previously completed exercises 1-5.

 

I. Business Mission (exercise 1)

 

II. Situation Analysis

 

                A. External Environment (exercise 2)

 

                B. SWOT Analysis (exercise 2)

 

III. Competitive Advantage (exercise 1)

 

IV. Customer Behavior (exercise 2)

 

                A. Describe the Target Market (exercise 1)

 

                                1. Market Segmentation (exercise 4)

 

V. Marketing strategy

 

                A. Restate the target market (exercise 1)

 

                B. Describe the product/service in-depth (exercise 5)

 

                                1. Product

 

                                2. Place

 

                                3. Promotion

 

                                4. Price

 

VI. Conclusion

 

Section I. Business Mission

 

Describes the company in in depth including the business mission statement

 

Describes the company with the mission statement

 

Briefly describes the company with mention of the mission statement

 

Does not describe the company or the mission statement

 

This criterion is linked to a Learning OutcomeSection II. Situation Analysis

 

The student has conducted an external audit and includes mention of a SWOT analysis

 

There has been an attempt at an external audit through a SWOT analysis

 

There is little mention of the external environment for the product/service company

 

There is no mention of a situation analysis

 

This criterion is linked to a Learning OutcomeSection III. Competitive Advantage

 

Student extensively explains how the company will provide a competitive advantage and which type of competitive advantage will be offered.

 

Student mentioned the competitive advantage of the product or service but does not go into detail on which type of competitive advantage.

 

Student makes little mention of how their product or service will provide a competitive advantage

 

Competitive advantage is not included in marketing plan

 

This criterion is linked to a Learning OutcomeSection IV. Customer Behavior -Target market -Market segmentation

 

Customer behavior is addressed through a series of questions (in overview). The target market is addresses and how they will focus on that market through market segmentation

 

Customer behavior addressed through questions. Target market and market segmentation are included but not detailed

 

Customer behavior, target market, and market segmentation are touched on but not detailed

 

Not all elements of Customer behavior, target market, and market segmentation are listed and or explained.

 

Customer behavior, target market, and market segmentation are not included

 

This criterion is linked to a Learning OutcomeV. Marketing Strategy -Restate target market -4 P’s

 

The marketing strategy is addressed through the 4’Ps price, product, place, and promotion. The target market is restated

 

The marketing strategy is addressed through the 4’Ps price, product, place, and promotion.

 

The 4’Ps are stated as well as the target market

 

The generic 4 P’s are stated but does not apply to product or service.

 

This criterion is linked to a Learning OutcomeVI. Conclusion

 

The marketing plan is concluded through proper reiteration of core sections.

 

There is no conclusion to the marketing plan