Barbara Ryals Unit 1 IP MKGT

Barbara Ryals Unit 1 IP MKGT - Unit 1 Individual Project...

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Unit 1 Individual Project 1 Running head: UNIT 1 INDIVIDUAL PROJECT MKTG305-02 by Barbara Ryals Marketing Management Joe Shull November 14, 2010
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Unit 1 Individual Project 2 Abstract Well written marketing plans are the key to success. They should be workable, measurable, and specific. A business mission statement that identifies the company will help when writing successful plans. There are several reasons why a marketing plan fails, but fewer reasons why they succeed.
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Unit 1 Individual Project 3 Market Management A marketing plan is a tool used for leading and organizing the marketing effort ( Kotler & Keller). It is sometimes referred to as a road map to marketing and has two levels which a marketing plan operates from. The first level is called a strategic marketing plan. A strategic plan gives direction of the company and looks at the company as a whole which includes operations, human resources, financing, as well as marketing (tutor2u.net). Next is the tactical marketing plan. During this level, the marketing team is simply implementing and testing the strategic plan (Bell). Before establishing a marketing plan, the company needs to create a Mission Statement. The Mission Statement should describe the business and its purpose (bplans.com). It should be meaningful and measurable. It should demonstrate moral and ethical positions of the company as well as target market, products and service, and potential growth and profitability (www.businessplans.org). Having a good mission statement inspires workers. It should be a guide that employees can follow which gives them a purpose for working for their company. When looking at the mission statement for Baptist Hospital, it states “We help people achieve health for life through compassionate service inspired by faith”. This statement shows value for the company as well as for its employees. From this statement, the business can now develop a marketing plan. It has purpose and is measurable. The purpose is to provide quality care to their patients, provide safety, not only for their patients, but for employees and visitors as well, show accountability, and faith that their company will do what they say they will do. It tells what the hospital stands for.
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Barbara Ryals Unit 1 IP MKGT - Unit 1 Individual Project...

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