The assignment focuses on Integrated marketing communications aspects- strategic marketing plan. Also, discuss the qualities that make this product/service new to the marketplace and the rationale for your decision to pursue the concept. You must develop the business concept in its entirety.
Integrated marketing communications aspects- strategic marketing plan
STRATEGIC MARKETING PLAN
INTRODUCTION. Firstly, this assignment entails development of a comprehensive strategic marketing plan for a new product or service that is ready to “go to market”. A Project Template is provided that allows you to organize your work in increments and see how the sections come together to produce a comprehensive plan. Secondly, build a strategic marketing plan for a new product or service that is ready to “go to market”. You will not be allowed to mimic plans or ideas from larger or already “in-place” campaigns. Describe the new product or service.Discuss the qualities that make this product/service new to the marketplace and the rationale for your decision to pursue the concept. Be sure to pick a product or service that is ready to market. If you are developing a new product, assume that the development phase is over and you are ready to launch the product into the marketplace.
Integrated marketing communications aspects- strategic marketing plan
OBJECTIVES/MISSION STATEMENT. Secondly, Create a Mission Statement. Additionally, state your short-term MARKETING objectives (one year). Assume that the product/service is ready to launch at the beginning of the year (planning and testing have been completed). Marketing objectives include goals for sales, profits, market share (as examples)Objectives need to be quantifiable. Also, Use the SMART acronym—simple, measurable, achievable, relevant, and time-specific—in formulating your objectives. An objective with a 100% goal is not acceptable TARGET MARKET Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau’s American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.
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