Marketing Plan And Budget Overview Assignment

Marketing Plan And Budgetoverviewthis Assignment Consists Of Two Secti

Marketing Plan and Budget Overview This assignment consists of two sections: 1. Marketing plan and sales strategy (an MS Word document). 2. Marketing budget (using the Business Plan Financials Excel Template). To successfully complete this assignment, you must attach both documents to the submission area as separate files and then click Submit.

Reminders:

  • Your company, whether it's a startup you created or one based on the snack food company scenario, will operate in a 100-mile radius from your home address. Your goal is to reach $1 million in sales by the end of the second year.
  • Be sure to follow the guidelines, whether you chose the snack food company or your own startup company.

Paper For Above instruction

Develop a comprehensive marketing plan and budget for a startup or existing company operating within a 100-mile radius, aiming to reach $1 million in sales by the end of the second year. The assignment requires two deliverables: a 3–5 page marketing plan and sales strategy documented in MS Word, and a marketing budget prepared using the Business Plan Financials Excel Template. Both documents must be submitted as separate files.

The marketing plan should begin with a revised target market based on previous feedback, detailing demographic, geographic, lifestyle, psychographic factors, purchasing patterns, and sensitivities. Additionally, it must include an assessment of market competition, referencing specific companies and products (e.g., competing against Coca Cola’s water or cola products). The plan should specify how the company will differentiate itself from competitors, outline the company's value proposition, and create a marketing slogan or tagline to clearly communicate the brand's message.

Furthermore, the plan should identify marketing vehicles (e.g., social media, trade shows, sponsored events, sampling) to build brand awareness, with justification for each choice’s effectiveness. Planning online marketing tactics should be included, referencing the appropriate textbook worksheet for guidance. Proper formatting includes headings for each section, a cover page, and a source list adhering to Strayer Writing Standards (SWS). All sources must be properly cited with in-text citations.

The second part involves crafting a marketing budget for the first two years, using the Business Plan Financials Excel Template. It requires completing the Setup worksheet with relevant company information and the Marketing Budget worksheet, including costs for selected marketing activities aligned with the strategies outlined in the marketing plan. Only the marketing vehicles intended for use should be filled in, with costs assigned accordingly. Even if some marketing activities incur no direct fees (e.g., free social media), associated management and advertising costs must be estimated and reflected in the budget.

The budget should assume the first year is the current year, with projections for the subsequent year. It is essential to avoid leaving budget entries blank without justification—only the planned marketing activities and their costs should be included, matching the strategies detailed earlier. The completed Excel template must be submitted alongside the Word document.

References

  • Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
  • Armstrong, G., & Kotler, P. (2017). Marketing: An Introduction (13th ed.). Pearson.
  • Walker, O. C., & Mullins, J. W. (2014). Marketing Strategy: A Decision-Focused Approach (8th ed.). McGraw-Hill Education.
  • Turow, J. (2017). Media Today: Mass Communication in a Converging World (6th ed.). Routledge.
  • Chaffey, D., & Ellis-Chadwick, F. (2019). Digital Marketing (7th ed.). Pearson.
  • Ryan, D. (2016). Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation. Kogan Page.
  • Shankar, V., & Malthouse, E. C. (2016). Mobile Marketing: How Mobile Technologies Power Big Data Analytics and Transform Marketing. Springer.
  • Hollensen, S. (2015). Marketing Management: A Relationship Approach. Pearson.
  • Cravens, D. W., & Piercy, N. F. (2013). Strategic Marketing (10th ed.). McGraw-Hill Education.
  • Day, G. S. (2011). Closing the Marketing Capabilities Gap. Journal of Marketing, 75(4), 183–195.

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