ASSIGNMENT INSTRUCTIONS
Description
A marketing plan is the key way that businesses decide how to market their products and services to customers. You have been asked by your company to participate in a cross-functional team to develop a new marketing plan. Reflect back on what you have learned in your program on marketing. Then as a refresher, research marketing plans and review this article:
11 Steps to Create a Marketing Plan
Choose a product or service that you are familiar with and then answer the following questions to provide your recommendation to the cross-functional team:What market research would you conduct to know your target market and customers?
What marketing tools such as promotion, advertising, and digital marketing will you use?
What is your strategy to address your competitors in the market?
How will you measure the success of your marketing plan?
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Individual Project Rubric
The Individual Project (IP) Grading Rubric is a scoring tool that represents the performance expectations for the IP. This Individual Project Grading Rubric is divided into components that provide a clear description of what should be included within each component of the IP. It’s the roadmap that can help you in the development of your IP.
ExpectationPoints PossiblePoints EarnedComments
Assignment-Specific: Describe the market research you’d conduct to know your target market and customers.30
Assignment-Specific: Describe the marketing tools such as promotion, advertising, and digital marketing.30
Assignment-Specific: Examine the strategy to address your competitors in the market.30
Assignment-Specific: Describe how to measure the success of your marketing plan.25
Professional Language: The assignment contains accurate grammar, spelling, and punctuation with few or no errors. APA formatting may be required, or another style may be specified in the assignment.10
Total Points
125
Total Points Earned
HOW TO WORK ON THIS ASSIGNMENT ( EXAMPLE ESSAY/ DRAFT)
To comprehend the target market and clients as a member of the cross-functional team charged with creating a new marketing strategy for a product, market research is crucial. For organizations to understand the needs, tastes, and behaviors of their customers, market research is an essential tool. In order to decide on marketing strategies, the research process entails gathering and analyzing data about the market, rivals, and customers.
The actions listed below should be done in order to undertake good market research:
Establishing a precise definition of the research objectives is the first stage. This entails determining what data is required, what inquiries must be resolved, and what choices must be taken.
Decide who your target audience is.