Reference no: EM13739822
Product innovation and marketing are the only enduring competitive advantages that companies can use to survive and thrive in the marketplace. You are going to participate in designing and writing a marketing plan for a business, product, or service of your choosing. Your active participation in this project, first, is essential to building your understanding of marketing; secondly, you can use a well-written marketing plan to show prospective employers a sample of your work.
A marketing plan is a guide for the marketing activities of an organization for a specified period of time, typically about 5 years. The plan can be used internally to guide the marketing activities or it can be used to communicate with external audiences to raise capital. There are important questions to keep in mind as you design your plan.
1. Is the marketing idea valid?
2. What is unique or distinctive about the product or service that separates it from substitutes and competitors?
3. Does a viable market exist for the product or service?
4. Are the financial projections sound?
5. Is the management team competent?
6. How will the investors get their money back with a return on their investments?
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Wheat farm has a production function
: Farmer Brown has 2 distinct farms that he works on. His wheat farm has a production function Y=6.7K0.4L0.6, and his soybean farm has a production function Y=0.2K0.5L0.5. Farmer Brown has the option of buying either more labor or more capital for each..
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Brief history and description of the company
: Brief history and description of the company - background, primary product/service offerings, customers, business sector(s), etc
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Market-clearing wage in the market for labor
: The minimum wage is typically set above the market-clearing wage in the market for labor. Using a graph with an upward-sloping supply of labor, a downward-sloping demand for labor, with the quantity of labor measured on the horizontal axis and the wa..
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In terms of resulting output level and price
: Assume the total value of paper to society ( measuring willingness to pay) is given by the expression. Additionally there are pollution damage costs for which the external cost can be described as.
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Does a viable market exist for the product or service
: Product innovation and marketing are the only enduring competitive advantages that companies can use to survive and thrive in the marketplace. Does a viable market exist for the product or service
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Discuss the impact of fair trade coffee
: Use Porter's value chain and value system (Johnson et al 2014, p.83ff) to discuss the impact of Fair Trade coffee on both large and small companies
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What is the present worth of the annuity
: Jerry bought a house for $400,000 and made an $80,000 down payment. He obtained a 30-year loan for the remaining amount. Payments were made monthly. the nominal annual interest rate was 6% after 10 years (120 payments) he sold the house and paid the ..
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Discussing unemployment and inflation in their country
: Robert and Janet are discussing unemployment and inflation in their country. On the basis of a recent newspaper report, Robert claims that a 5% reduction in unemployment will lead to a 2% rise in inflation. On the other hand, Janet insists that infla..
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Winsome manufacturing owns a line of injection molds
: The project will require participation from the design, production, purchasing, shipping, sales, and marketing departments. Winsome Manufacturing owns a line of injection molds suitable, so all manufacturing will be done in-house. The project mana..
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