Write a marketing plan for a fictional company.

Section I

In this section of the Marketing Plan, you will introduce the fictional company you have selected/created, allowing the reader to understand the company, product/service, and any other pertinent details. Marketing plans are compiled by companies that have incorporated a solid marketing research strategy in order to better understand the industry, competition, and customer. Explain the research strategies that will be used by your company. Finally, analyze the macro environment using a PEST analysis. This will lead to a better understanding of how changes in the political/legal, economic, socio-cultural, and technological environment will affect your company. You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old. Use the following subheadings:

Marketing Plan: Company Overview and Market Research

• Overview of Company

• Market Research Strategies

• Analyzing Macro-environment-PEST Analysis

Section II

This section will begin with an application of segmentation of the market of your fictional company. Think about behavioral, psychographic, demographic, and geographic criteria that might help you in segmenting the market. Once you have completed the segmentation, identify the target market that your company will focus on including your rationale. It’s important for the marketing manager to understand the competitive environment within the industry in which they operate. Compile a detailed competitive analysis looking at the top three or four competitors and differentiating each against your company. Finally, assemble and thoroughly explain a SWOT Analysis with a minimum of three elements under each area. You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old. Use the following subheadings:

Marketing Plan: Situation Analysis

• Segmentation & Target Market Analysis

• Competitive Analysis

• SWOT Analysis

Section III

This section of the Marketing Plan will assess the marketing strategies or the controllables to include the entire marketing mix (4 P’s). Think about the most effective strategies to use with an eye on the target market. Include your rationale and research to support your position. Additionally, you will include a discussion of whether the fictional company has a competitive advantage (or is better than its competitors) with respect to each area. Note: You will discuss competitive advantage four times and should be discussing each area separately.

Product Strategies

Explain the product characteristics including the product and/or service qualities, warranties, service contracts, packaging, and branding opportunities. Include rationale.

Discuss whether the company has a competitive advantage with respect to product.

Place Strategies

Explain the entire channel of distribution from the manufacturer to the consumer. Think about how the channel aligns with the overall logistics and the location of the physical facility. Include rationale.

Discuss whether the company has a competitive advantage with respect to place.

Pricing Strategies

Explain the pricing strategies and tactics to be used by your company. Research the various combinations of strategies that could be used by the company at different times. Include rationale.

Discuss whether the company has a competitive advantage with respect to pricing.

Promotional Strategies

Explain the promotional mix to be used, thinking about personal selling, advertising, sales promotion, internet marketing, and publicity. Think about promotional mediums as well. Include rationale.

Discuss whether the company has a competitive advantage with respect to promotion.

You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old. Use the following subheadings:

Marketing Plan: Marketing Strategy

• Product Strategies

• Place Strategies

• Pricing Strategies

• Promotional Strategies

Section IV

This section of the marketing plan will review the concept of marketing metrics with the application of five metrics to the company marketing plan. Using the five Marketing Metrics, (Sales Metrics and sales growth, Customer Readiness to Buy and Awareness, Customer Metrics and Customer Satisfaction, Distribution Metrics and Distribution Gains, Communication Metrics and Effective Reach), provide a description of the metric, demonstration of how it will be calculated and finally, how it will be used in your company. Include specific, measurable goals within your metric. Include research that supports your use of these metrics. Use the following subheadings:

Marketing Plan: Marketing Metrics

• Marketing Metrics Overview

• Application to Fictional Company

Answer rating: 100% (QA)

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