The Marketing Plan$$Part $1$

Due in Unit $2,$ you will start working this week on Part $1$ of the assignment.

The following Course Outcome is assessed in this assignment:

MT$450-1$: Develop the key components of a marketing plan.

Introduction: You have likely heard the expression, "Failing to plan is planning to fail.$$ Nevertheless, many companies act without having a solid plan in place. Kotler et al$.(2022)$ state that a marketing plan communicates the proposed course of action to relevant entities. Moreover, the marketing plan must be actionable, relevant, clear, and succinct to be effective. Once developed, the marketing plans must be updated to remain relevant.

Before beginning this assignment, complete the learning activity, which focuses on the key components of a marketing plan. Be sure to refer to the readings in this unit to assist you in this area.

Learning Activity:

Practice with marketing plan components.

This assignment presents you with three company scenarios $($see the tabs above$)$ needing a marketing plan. Read each scenario and select one to create a marketing plan.

Assignment Instructions:

This assignment presents you with three company scenarios needing a marketing plan. Read each scenario from Tabs $13$ above, and select one to create a marketing plan that will be due in Unit $2.$

In Unit $1,$ address Part $1$ of the assignment due in Unit $2$ by applying it to your chosen scenario.

In the Unit $2$ Assignment, you will complete Part $2$ and submit Parts $1$ and $2$ in Unit $2$ in a $15-$slide Microsoft$$ PowerPoint$$ narrated presentation with notes and additional title and reference slides.

Checklist:

Part $1$Unit $1$

Create a market$-$oriented mission statement using the five major characteristics suggested by Kotler et al$.(2022).$

Prepare a brief situational overview.

Analyze the industry using Porter$$s five forces model.

Apply the four additional forces from the readings as noted by Isabelle et al$.(2020).$ See the article in the reading area called $$Is Porter$$s five forces framework still relevant? A study of the capital$/$labour intensity continuum via mining and I.T$.$ industries.$$

Create five strategic goals using the SMART acronym.

Determine the three characteristics of an SBU for the new product$/$product line. Discuss whether you characterize the marketing portfolio as specialized or diverse.

Part $2$Unit $2$

Determine the difference between strategy and tactics.

Prepare the target market using the $5$Cs framework. Illustrate the $5$Cs similar to Figure $2\mathrm{.}2$ in our text.

Describe the $3$V elements of the market value principle. Design the $3$V market value principle similar to Figure $2\mathrm{.}3$ in our text.

Design the seven tactics $($the $7$Ts$)$ defining the marketing offers similar to Figures $2\mathrm{.}4$ and $2\mathrm{.}5$ in the text.

Develop an implementation strategy by outlining a process for developing resources, the market offering, and deploying the offer to the target market.

Describe how you will demonstrate at least three key performance metrics against established goals.

Prepare an executive summary. You may use this as the first slide of your presentation.