Reference no: EM132501697

Part I: Executive Summary

Question 1 : Summarize the most important aspects of the proposed plan including a description of the product or service and how it is differentiated in the marketplace. Also, be sure to state what the target market looks like as well as the sales potential for the plan and , if possible, the return on the marketing investment (ROI).

Note: Although this will comprise the first part of your Work Product, you should write the Executive Summary after completing all other parts of the Assessment.

Part II: External Assessment

Question 2 : This part is comprised of several components. Before completing each component, describe the general situational context you have chosen for this Work Product (e.g., Company X is in its second year of operation in the mechanical industry, providing solutions in x, y, and z). Key elements to mention about the company are the "what" and "how." Part 2 should include the following:

Market Opportunity

Question 3 :Describe the market for the product you are working with.

Question 4 :Provide an estimation of market size for years one, two, and three.

SWOT or PESTE Analysis

1. In tabular form with narrative, describe the product's strengths, weaknesses, opportunities, and threats (SWOT). If appropriate, explain any political, economic, social, technological, or environmental (PESTE) risks associated with the product.

Competition Using Porter's Five Competitive Forces Model

Question 5 :Who will you compete with and why? Describe the risks of competing with other brands using Porter's model.
Global Markets

Using Porter's model, analyze the attractiveness and risk of at least one non-domestic market (of your choice).

Part III: Creating the Marketing Strategy

The marketing strategy should include the following:

• Mission, Marketing Objectives, and Financial Objectives

Question 6 : Describe the company's mission, marketing objectives, and financial objectives.

Target Market

Detail market demographics and other relevant information.

Positioning

Question 7 : Provide detail on how the product will be differentiated in the minds of prospective purchases/customers.

Marketing Mix

Product Strategy

1. If you are creating a new product or significantly modifying an existing one, indicate whether your product is competing with others within the company. For existing products, summarize the current product offering.

Promotional Strategy

Question 8: Explain the use of traditional and digital marketing tactics.

Pricing strategy

Question 9: What is price?

Question 10: How does it compare to competition?

Distribution Strategy

Question 11: How is the product/service to be distributed?

Question 12: Explain the rationale for the strategy.

Contingency Planning

Question 13: Considering a changing marketplace driven by technology, describe the implications of altering one marketing mix variable on the entire strategy (e.g., move from traditional bricks and mortar to online retailing) including competitive response, customer base, marketing mix considerations, and core competencies of the firm.

Part IV: Financial Assessment

Question 14: Summarize the company's budget, schedule and monitoring in a spreadsheet, and include comments.

Sales Forecast

1. Include a breakdown by product, segment, and region, if applicable.

Expense Forecast

1. Include a breakdown by partner, segment, and region, if applicable.

Marketing Expenditures Alignment With Strategy and Tactics

1. List strategy/tactics along with related expenditures. Explain the return on investment for marketing expenditures.

Break-Even Analysis

1. Create a "Cost of Goods" estimate and determine the revenue required for break even