Building Your Marketing Plan

Building Your Marketing Plan - Building Your Marketing Plan...

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Building Your Marketing Plan Your final marketing plan should be between 3,000 and 5,000 words and must follow all APA guidelines. A marketing plan outline, guideline and a sample marketing plan are provided in Doc Sharing . EACH WEEK SUBMIT YOUR NEW SECTIONS ALONG WITH YOUR PREVIOUS SECTIONS AFTER GRADING/ COMMENTS HAVE BEEN COMPLETED. Cover Page, Table of Contents and Bibliography are required each week . Each week add additional sources to your Bibliography. Week 1 (20 Points) : 1. Executive Summary (Develop during Weeks 1-6. Due by Week 6) The Executive Summary “sells” the marketing plan to readers through its clarity and brevity. The summary should present a description of the product/service, its target market, and its need within the market. The summary should also provide an overview of the main points of the plan and should emphasize an action orientation. See page 57 in the text. Begin writing the Executive Summary as you develop your marketing plan during Week 1-6. Due by Week 6. 2. Company Description (Week 1) The company description should highlight the recent history and successes of the organization. See page 57 in the text. 3. Strategic Focus and Plan (Week 1) While not included in all marketing plans, the Strategic Focus and Plan sets the strategic direction for the entire organization. One approach is to use the strategic marketing process (see pages 44-50 in the text) and/ or diversification and synergy analyses (see pages 581-584). a. Mission/Vision The Mission/Vision statement is a qualitative statement that specifies the markets and product lines in which a business will compete. A mission statement can dramatically affect the range of a firm’s marketing activities by narrowing or broadening the competitive playing field. An effective mission statement must be clear and direct. See page 32 in the text. b. Goals The Goals section of a marketing plan sets both financial and non-financial targets. Goals should be in quantitative terms, where possible, to facilitate measuring the company’s future performance. See page 34 in the text. An example of a non-financial goal: “Philip Morris will diversify its product lines to achieve 50 percent of sales revenue in non-tobacco products in the next five years.” An example of a financial goal (note it is specific and measurable): “XYZ Inc. will increase sales from $10 million in 2008 to $15 million in 2012.” c. Core Competency and Sustainable Competitive Advantage Competencies are an organization’s special capabilities, including skills, technologies, and resources, which distinguish it from other organizations and provide value to its customers. A competitive advantage is
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This note was uploaded on 06/23/2011 for the course BUS 101 taught by Professor Fryar during the Spring '11 term at DeVry Cincinnati.

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Building Your Marketing Plan - Building Your Marketing Plan...

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