Reference no: EM132172147

Marketing Plan: Part 1

Scenarios for your start-up company are explained below. (Note that these descriptions are basic, and you will need to be creative and develop the business idea/model for your selected scenario.)

Scenario #1

Travel Supreme is a start-up travel organization with the mission of assisting customers with travel planning. While today's customers enjoy developing their vacations themselves, Travel Supreme believes there are travel services that are still in demand. Initial research needs to develop what types of travel services are in demand by this target market.

Scenario #2

IT to Seniors is a start-up company interested in ensuring a positive experience for seniors (65 and older) with respect to the use of technological gadgets, software, the Internet, and/or any additional aspects of technology. Initial research will provide an idea of the business model that would be in most demand for this target market.

Scenario #3

Galaxy Restaurant is a start-up restaurant developed with the idea of providing the customer with a unique dining experience. This could extend from the product offering, service offering, atmosphere, or a host of other unique experiences. Initial research will provide an idea of what this unique dining experience would look like.

Remember to choose one of the aforementioned scenarios to use for the entire course. Submissions will be completed in Units II, IV, and VII and, together, will comprise a full marketing plan. While this is a cumulative marketing plan, submit only the designated unit's work.

This unit's submission should consist of the items listed below.

Include an introduction/overview of the company.

o This section of the marketing plan should introduce the company and business model along with a brief description of the products/services.

Discuss market research strategies.

o This section of the marketing plan should discuss the research strategies that will be used by your company to understand the target market(s), industry, competition, and/or any other aspects of the company that will provide valuable insight into profitable operations.

Describe the macro environment through a political, economic, social, and technological (PEST) analysis.

o In this section, you will compile a PEST analysis of your company. You will analyze how the changes in the macro environment as described in the PEST will impact the company and, specifically, the marketing decisions

Short Answer: Part 2

Select an existing company, and think about applying the political, economic, social, and technological (PEST) analysis to this company.

Discuss how using the PEST tool best assists marketers in analyzing the external environment in which they are operating. (150 words)