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Assignment 1: Part A: Your Marketing PlanFor this assignment, you will document your hypothetical company’s background information and mission statement, your company’s short- and long-term goals, an environmental analysis, and a SWOT analysis.Note: You should create and / or make all necessary assumptions needed for the completion of this assignment.InstructionsCreate the first part of your marketing plan: Write an introduction to your company. Describe your hypothetical company, its location, and the product it makes or the service it provides, and introduce the contents of your marketing plan. Develop your company’s mission statement. Decide the main goals that you would like to achieve within the next year (short term) and the main goals that you would like to achieve within the next five years (long term). Determine the most appropriate ways to measure both short- and long-term goals. Note: Consider the following metrics: tracking downloads of website content, website visitors, increases in market share, customer value, new product /service adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement. Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Develop both a SWOT analysis and needs analysis for your product / service. Each analysis should examine three strengths, weaknesses, opportunities, and threats for your company. Use at least three academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other websites do not qualify as academic resources. Your assignment must follow these formatting requirements: Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length of 8 to 12 pages. The specific course learning outcomes associated with this assignment are: Analyze marketing environments and strategies used to strengthen product or service positioning. a. Evaluate data and information on customer/consumer behavior. b. Evaluate marketing research tools involved in the marketing process. c. Examine the marketing science of customer behavior and products in the marketing exchange process. Evaluate marketing strategies used to create/communicate customer value. a. Analyze the marketing framework through a situation analysis. Create an effective marketing plan. a. Develop recommendations based on market analysis and strategy.b. Develop strategies to assess performance and achieve marketing goals.c. Develop dynamic strategies for competing. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric found here. market_plan.docx mkt500_template_part_a_assignment_1_and_apa_notes__1___1_.docx assignment_1_sample_paper_amans_winter_2020__1_.docx Unformatted Attachment Preview There are four assignments. Assignments 1 through 3 focus on specific sections of your marketing plan. Assignments 2 and 3 include a feedback component, in which you will explain how you will use feedback from your instructor to improve your marketing plan. For Assignment 4, you will show off all of your hard work by presenting your plan in class (for students taking the course on campus) or via PowerPoint presentation (for students taking the course online). Each assignment is comprised of the following components: • • • • Assignment 1: Part A: Your Marketing Plan o Introduction o Mission Statement o Short- and Long-term Goals o Environmental Analysis o SWOT Analysis Assignment 2: Part B: Your Marketing Plan o Use Feedback to Refine Your Plan o Branding Strategy o Target Markets o Positioning Statement o Consumer Behavior Assignment 3: Part C: Your Marketing Plan o Use Feedback to Refine Your Plan o Pricing and Distribution Strategy o Integrated Marketing Communications Strategy Assignment 4: Part D: Your Marketing Plan – Presentation o Present Your Marketing Plan Assignment 1: Part A: Your Marketing Plan Due Week 3 and worth 200 points For this assignment, you will document your hypothetical company’s background information and mission statement, your company’s short- and long-term goals, an environmental analysis, and a SWOT analysis. Note: You should create and / or make all necessary assumptions needed for the completion of this assignment. Instructions Create the first part of your marketing plan: 1. Write an introduction to your company. Describe your hypothetical company, its location, and the product it makes or the service it provides and introduce the contents of your marketing plan. 2. Develop your company’s mission statement. 3. Decide the main goals that you would like to achieve within the next year (short term) and the main goals that you would like to achieve within the next five years (long term). Determine the most appropriate ways to measure both short- and long-term goals. Note: Consider the following metrics: tracking downloads of website content, website visitors, increases in market share, customer value, new product /service adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement. 4. Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. 5. Develop both a SWOT analysis and needs analysis for your product / service. Each analysis should examine three strengths, weaknesses, opportunities, and threats for your company. 6. Use at least three academic, peer reviewed resources as quantitative marketing research to determine the feasibility of your product / service. Four or more quality references are required for exemplary performance. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other websites do not qualify as academic resources. Your assignment must follow these formatting requirements: ● Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. ● Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length of 8 to 12 pages. The specific course learning outcomes associated with this assignment are: 1. Analyze marketing environments and strategies used to strengthen product or service positioning. a. Evaluate data and information on customer/consumer behavior. b. Evaluate marketing research tools involved in the marketing process. c. Examine the marketing science of customer behavior and products in the marketing exchange process. 2. Evaluate marketing strategies used to create/communicate customer value. a. Analyze the marketing framework through a situation analysis. 3. Create an effective marketing plan. a. Develop recommendations based on market analysis and strategy. b. Develop strategies to assess performance and achieve marketing goals. c. Develop dynamic strategies for competing. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric: Points: 200 Criteria 1. Write an introduction to your company. Describe your hypothetical company, its location, and the product it makes or the service it provides and introduce the contents of your marketing plan. Weight: 10\% 2. Develop your company’s mission statement. Weight: 10\% 3. Decide the main goals that you would like to achieve within the next year (short term) and the mains goals that you would like to achieve within the next five years (long term). Determine the most appropriate ways to measure both short- and long-term goals. Weight: 10\% 4. Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Weight: 25\% Assignment 1: Part A: Your Marketing Plan Unacceptable Below 70\% F Fair 70-79\% C Proficient 80-89\% B Exemplary 90-100\% A Did not submit or incompletely wrote an introduction to the company. Did not submit or incompletely described the hypothetical company, its location, and the product it makes or the service it provides, and the contents of the marketing plan. Did not submit or incompletely developed your company’s mission statement. Did not submit or incompletely decided the main goals to achieve within the next year (short term) and the mains goals to achieve within the next five years (long term). Did not submit or incompletely determined the most appropriate ways to measure both short- and long-term goals. Did not submit or incompletely developed an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Partially wrote an introduction to the company. Partially described the hypothetical company, its location, and the product it makes or the service it provides, and the contents of the marketing plan. Satisfactorily wrote an introduction to the company. Satisfactorily described the hypothetical company, its location, and the product it makes or the service it provides, and the contents of the marketing plan. Thoroughly wrote an introduction to the company. Thoroughly described the hypothetical company, its location, and the product it makes or the service it provides, and the contents of the marketing plan. Partially developed your company’s mission statement. Satisfactorily developed your company’s mission statement. Thoroughly developed your company’s mission statement. Partially decided the main goals to achieve within the next year (short term) and the mains goals to achieve within the next five years (long term). Partially determined the most appropriate ways to measure both shortand long-term goals. Satisfactorily decided the main goals to achieve within the next year (short term) and the mains goals to achieve within the next five years (long term). Satisfactorily determined the most appropriate ways to measure both short- and long-term goals. Thoroughly decided the main goals to achieve within the next year (short term) and the mains goals to achieve within the next five years (long term). Thoroughly determined the most appropriate ways to measure both short- and long-term goals. Partially developed an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Satisfactorily developed an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Thoroughly developed an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. 5. Develop both a SWOT analysis and needs analysis for your product / service. Each analysis should examine three strengths, weaknesses, opportunities, and threats for your company. Weight: 25\% 6. Citations and References / Information Literacy / Integration of Sources Weight: 10\% 7. Clarity, Writing Mechanics, Grammar, and Formatting Weight: 10\% Did not submit or incompletely developed both a SWOT analysis and needs analysis for the product / service. Did not submit or incompletely examined three strengths, weaknesses, opportunities, and threats for the company. Lack of in-text citations and/or lack of reference section. Serious errors in the integration of sources, such as intentional or accidental plagiarism. Information is confusing to the reader and fails to include reasons and evidence that logically support ideas. Serious and persistent errors in grammar, spelling, punctuation, or formatting. Partially developed both a SWOT analysis and needs analysis for the product / service. Partially examined three strengths, weaknesses, opportunities, and threats for the company. Satisfactorily developed both a SWOT analysis and needs analysis for the product / service. Satisfactorily examined three strengths, weaknesses, opportunities, and threats for the company. Thoroughly developed both a SWOT analysis and needs analysis for the product / service. Thoroughly examined three strengths, weaknesses, opportunities, and threats for the company. In-text citations and references are provided, but they are only partially formatted correctly in APA style. Does not meet the required number of references; some or all references are poor-quality choices. Sources are partially integrated using effective techniques of quoting, paraphrasing, and summarizing. Information is partially clear with minimal reasons and evidence that logically support ideas. Partially free of errors in grammar, spelling, punctuation, or formatting. Most in-text citations and references are provided, and they are generally formatted correctly in APA style. Meets number of required references; all references are highquality choices. Sources are mostly integrated using effective techniques of quoting, paraphrasing, and summarizing. In-text citations and references are error free and consistently formatted correctly in APA style. Exceeds number of required references; all references are high-quality choices. Sources are consistently integrated using effective techniques of quoting, paraphrasing, and summarizing. Information is mostly clear and generally supported with reasons and evidence that logically support ideas. Mostly free of errors in grammar, spelling, punctuation, or formatting. Information is provided in a clear, coherent, and consistent manner with reasons and evidence that logically support ideas. Error-free or almost error-free grammar, spelling, punctuation, or formatting. Running head: PART A: MARKETING PLAN YOUR COMPANY NAME Part A: ABC Marketing Plan (Change to your name of business here) Your Name MKT500 Marketing Management Strayer University Dr. Lisa Amans Date submitted 1 PART A: MARKETING PLAN 2 Introduction (note this is not bold) Write an introduction to your company. Describe your hypothetical company, its location (why did you choose this location), and the product it makes or the service it provides, and introduce the contents of your marketing plan. Mission Statement Develop your company’s mission statement (do not confuse a mission statement with a tag line, slogan, or positioning statement). Also, your mission statement should resonate with your consumers/customers as well as with your employees and stakeholders – remember to see the purpose of a mission statement and rationalize yours. Do not just state a mission statement without rational – answer why. See textbook, page 21. Goals Write an introduction to this section here (minimum of three sentences). Note, your goals should be realistic, practical, and SMART (i.e., S. – specific; M. – measurable; A. – assignable; R. – realistic; and T. – time based). What does your company need to accomplish in the short and long term; consider revenue and profit goals? Short Term Text starts here – Decide the main goals that you would like to achieve within the next year (short term). Determine the most appropriate ways to measure short term goals. Note: Consider the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement. For information on Website analytics, visit Google Analytics at http://www.google.com/analytics/why/ Long Term PART A: MARKETING PLAN 3 Decide the mains goals that you would like to achieve within the next five (5) years (long term). Determine the most appropriate ways to measure long term goals. Note: Consider the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement. For information on Website analytics, visit Google Analytics at http://www.google.com/analytics/why/ Environmental Analysis Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Include an introduction of these elements. Write an introduction to this section (minimum of three sentences). See textbook pages 45-51. Competitive Analysis Competitive analysis here - (who is the competition – direct and indirect, why do you consider them to competition, what do they do well, what might be a weakness?). Economic Analysis Economic analysis here - (Through this factor, businesses examine the economic issues that are bound to have an impact on the company. This would include factors like inflation, interest rates, economic growth, the unemployment rate and policies, and the business cycle followed in the country). Political and Legal Analysis Political and legal analysis here. Separate the topics if you have significant analysis. (Political and Legal: Here government regulations and legal factors are assessed in terms of their ability to affect the business environment and trade markets. The main issues addressed in this section include political stability, tax guidelines, trade regulations, safety regulations, and PART A: MARKETING PLAN 4 employment laws). Technological Analysis Technological analysis here – (How technology can either positively or negatively impact the introduction of a product or service into a marketplace is assessed here. These factors include technological advancements, lifecycle of technologies, the role of the Internet, and the spending on technology research by the government). Sociocultural Forces Analysis Sociocultural forces here – (With the social factor, a business can analyze the socioeconomic environment of its market via elements like customer demographics, cultural limitations, lifestyle attitude, and education. With these, a business can understand how consumer needs are shaped and what brings them to the market for a purchase). SWOT and Needs Analysis Develop both a SWOT analysis and needs analysis for your product. Each analysis should examine three (3) each of strengths, weaknesses, opportunities, and threats for your company. Suggestion is to write an introduction (minimum of three sentences) and create a SWOT table (use APA formatting, label Table 1, etc.). Include an analysis, not just the table. Rationalize why you choose these SWOT elements. See textbook page 21. Table 1 SWOT Analysis Strengths • Short bullet • Xxxx • xxxx Opportunities • Short bullet • Xxxx • xxxx Weaknesses • Short bullet • Xxxx • xxxx Threats • Short bullet • Xxxx • xxxx PART A: MARKETING PLAN 5 Note: Strengths, weaknesses, opportunities, and threats for xxxx company. Strengths Include three strengths and explain the importance (think features and benefits to customer). Strengths are internal; what you can control. Weaknesses Include three weaknesses and impact to the business and/or customer. Weaknesses are internal; what you can control. Opportunities Include three opportunities and explain the importance (think features and benefits to customer). Opportunities are external; what is happening outside your company you can take advantage of such as new technology. Threats Include three threats and impact to the business and/or customer. Threats are external; what is happening outside your company that will impact your business such as new government policies or laws. Conclusion Summarize the plan to this point (minimum of three sentences) and you should not include any new thoughts (just summary). PART A: MARKETING PLAN 6 References (note this is centered and not bold and on a separate page) Use at least three (3) academic resources as quantitative marketing research to determine the feasibility of your product / service. Three academic references are proficient. In order to receive most points as exemplary, submit four or more. These academic resources should be industry specific and relate to your chosen product / service. Quality, academic references are peer-reviewed and found in scholarly journals published in the last 5 years. A good way to incorporate is by using Journal of Marketing, as an example, for your theories and consumer behavior observations. Newspapers, magazines, and other Websites do not qualify as academic resources and although you should reference if you use, they do not count towards your minimum. Listing your references without applying them in your text (citations) is not acceptable!!! See proper formatting in APA hints on page 7 of this document. PART A: MARKETING PLAN 7 Tips and APA Formatting (delete this from your paper) Below are tips and notes to guide you writing an APA paper. Use this information as a reference and ask if you have any questions. Tips and Notes: 1. NEVER plagiarize: Plagiarism: act of using someone else’s ideas, words, figures, unique approach, or specific reasoning without giving appropriate credit. 2. Always include an introduction for your Heading 1 topic (example: Environmental Analysis) to explain to the readers what they learn in the section you are introducing. 3. Paragraphs should be complete, such as a minimum of three sentences: a. “Put only one main idea per paragraph. b. Aim for three to five or more sentences per paragraph. c. Include on each page about two handwritten or three typed paragraphs. d. Make your paragraphs proportional to your paper. Since paragraphs do less work in short papers, have short paragraphs for short papers and longer paragraphs for longer papers. e. If you have a few very short paragraphs, think about whether they are really parts of a larger paragraph—and can be combined—or whether you can add details to support each point and thus make each into a more fully developed paragraph.” (https://owl.english.purdue.edu/owl/resource/606/02/ ) f. http://blog.apastyle.org/apastyle/2011/12/the-long-and-the-short-of-it.html g. http://arc.aje.com/editing-tip-sentence-length/ 4. Don not use (or minimize): a. they (minimize, pronouns, use actual names/titles for clarity) b. these c. there are d. thing e. it f. this g. I h. we i. you j. one or ones k. some l. a lot m. a ton n. really o. very 5. Use of contractions – spell out 6. Use of conjunctions: https://owl.english.purdue.edu/owl/resource/598/1/ An independent marker word is a connecting word used at the beginning of an independent clause. These words can always begin a sentence that can stand alone. When the second PART A: MARKETING PLAN 8 independent clause in a sentence has an independent marker word, a semicolon is ... Purchase answer to see full attachment