Reference no: EM133313548

Based on the 'Fundamentals of Strategic Planning Microsimulation,' choose one of the two options below to develop a concise one-two page Strategic Marketing Plan for something of interest to you.

Take notes as you go through the Microsimulation, so you have some insights into the Elements of a Strategic Plan.

The Strategic Marketing Plan, for either option below, should be at least a one page and not more than two pages, single spaced, Word document. For each area give concise information. It is an Executive Summary of a Strategic Plan noting the key ideas for each area. Do not submit a Marketing Plan you developed for another class. Select one of the options below.

Option 1: Develop a concise Strategic Plan focusing on marketing for a business you would like to start sometime in the future or strengthen if you already have/own a business, or work in an organization.

Describe the business/organization you want to start or want to strengthen if you already own it, or you are presently working in an organization that you see additional opportunities/areas to strengthen.

Describe your objective for starting a business or for strengthening a business you already have/own, or already work for an organization. What are the results you are aiming to achieve or accomplish in the longer-term.

With the business/organization noted in Q1, describe the following: a) the product or service that is offered (benefits), b) the target audience and segments of the audience for the product, c) promotion strategy for the product - such as what is the objective, what channels to include (i.e. print advertising, digital/mobile advertising) d) pricing strategy for the product, e) distribution strategy - ways you expect to distribute the product to customers.