The Marketplace: Marketing Plan and Quarter 5 Decisions
This is a Collaborative Learning Community (CLC) assignment.
The Marketplace Simulation” and “Advanced Strategic Marketplace PowerPoint: Quarter 5” to prepare for participating in the Marketplace Live simulation.
Continue working in your instructor-assigned CLC group and simulation.
By the end of Topic 5, develop a Marketing Plan of 1,000-1,250 words to support an additional $5 million investment in your start-up company. Please include a reflection analysis of performance to date. Why are the results as they are? What areas required modifications in order to move forward with your plan?
The marketing strategy should include the 4 Ps and have a clear indication of future plans.
The tactical plan should be organized by quarter with the data in the Pro-Forma for Quarters 5-8 fully explained.
Present the written plan in accordance with the outline provided in “MKT-607 Marketing Management: The Marketplace Simulation.”
Complete Quarter 5 Decisions
Using the $5 million investment provided, your performance will be measured based upon how well you manage the division during this second year.
The Balanced Scorecard is the key indicator of your performance. Spend your money wisely and maximize your performance. In this quarter, there are two new decisions with which you are faced. First, you can invest in research and development on new brand features. These new features are desired by one or more customer segments and can greatly expand your market demand. Second, you will now be able to advertise in regional media. Regional media are more effective in reaching your target audience. They are also more expensive, but if you have two or more sales offices in a region, they can be very economical.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are required to submit this assignment to LopesWrite. Refer to the directions in the Student Success Center.
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Executive Summary
A marketing plan or strategy is usually required to be theory-based and it is from such a perspective that we get to evaluate the effectiveness of a strategy. The theoretical assumption employed in developing a marketing plan is that of a firm that is operating in a perfectly competitive market. As posited in the Resource-based theory, the competitive advantage of a firm is usually in the resources that the company is endowed with. well, we have $5 million at our disposal. This marketing strategy shall therefore employ the standardized marketing mix model in which the products will be developed, marketed under a common marketing and distribution strategy. However, since we also target regional media for marketing purposes, a differentiated marketing mix strategy will enable us address the various consumer preferences taking into consideration the aspects of gender, ethnicity and religion.
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