Your Second Draft Of The Paper For The Course Project Is Due

Your Second Draft Of The Paper For The Course Project Is Due This Week

Your second draft of the paper for the Course Project is due this week. For details, please review the Course Project Overview in the Introduction and Resources Module, and contact your instructor if you have any questions. This Marketing Plan assignment gives you the opportunity to develop an integrated marketing strategy for a product or service of your choice. This activity will make the course "come alive" through application of the principles from the textbook, course materials, and discussions. Assignments such as this also help you develop business-oriented communication skills.

The development of this Marketing Plan is an integral part of the course. It will enable you to demonstrate a good understanding of a typical marketing problem through a clear identification of the problem and careful analysis, to implement steps that are sufficiently clear and detailed for effective execution, and to demonstrate how your plan would work. Developing the plan will require several weeks of research, critical analysis, critical thinking, and writing. Remember ThisThe only way to do well on this project is to begin early and work on it consistently throughout the entire course.

Overview of Assignment

The MKTG525 Course Project is the creation of a strategic Marketing Plan (paper drafts and final version) and summary presentation.

Assignment Details

Conduct research online or in the DeVry Library and write a strategic Marketing Plan following the steps below and summarize the plan in a presentation. Read Appendix 1 in your textbook to gain a thorough understanding of a strategic marketing plan and its component sections. Identify a company that has a portfolio of products and/or services that you regularly purchase or utilize, or in which you are otherwise interested. Recommend a new product or service to add to the company's portfolio.

Conduct a Porter's Five Forces analysis.

Conduct a SWOT analysis.

Conduct a market analysis.

Establish strategic objectives.

Identify issues in the marketing environments.

Recommend marketing activities and programs.

Establish a budget and determine BEP.

Recommend controls to monitor and measure success.

Capture the value of this assignment in a self-reflection.

Read the Paper and Presentation sections (below the Milestones section) for more information on these specific deliverables.

Milestones

The Course Project has deliverables in Weeks 2, 4, 6, and 8. Remember ThisPlease maintain one working draft add to it throughout the course. So for each draft, resubmit the prior draft with any corrections recommended by your instructor, and add to it the current section.

Week 2 Week 4

Marketing Plan, Draft 2. Your paper should include the following components: Market Analysis, Strategic Objectives.

Paper For Above instruction

The task requires developing a comprehensive strategic marketing plan for a chosen company by conducting detailed analyses and proposing actionable strategies. The process begins with selecting a company that has an existing portfolio of products or services, preferably one the researcher is familiar with or utilizes regularly, which allows for meaningful insights into potential market opportunities. The primary goal is to recommend a new product or service to add to this portfolio that aligns with the company's mission and market demands.

Following this, a Porter's Five Forces analysis should be conducted to understand the competitive dynamics within the industry. This framework evaluates the bargaining power of suppliers and buyers, the threat of new entrants and substitutes, and the intensity of competitive rivalry. Such an analysis identifies external pressures and potential barriers to entry that could influence strategic decisions.

Complementing this, a SWOT analysis—assessing the company's internal strengths and weaknesses against external opportunities and threats—forms the foundation for strategic planning. It helps pinpoint areas where the company can leverage its advantages and guard against vulnerabilities while recognizing external opportunities for growth and external threats that require mitigation.

A comprehensive market analysis must follow, where market size, growth trends, customer segments, and competitor positioning are examined. This step helps to identify target markets, forecast potential demand, and understand competitive positioning, critical for setting realistic and measurable strategic objectives.

Establishing strategic objectives involves defining clear, specific, and achievable goals that guide marketing efforts. These objectives should align with the company's overall business strategy and be measurable in terms of market share, sales growth, brand recognition, or customer loyalty.

Subsequently, issues within the marketing environment are identified—such as regulatory changes, technological advancements, or shifts in consumer behavior—that could impact marketing strategies. Recognizing these issues enables a proactive approach to adapt strategies effectively.

Based on these insights, marketing activities and programs are recommended. These could include product development, advertising campaigns, digital marketing efforts, pricing strategies, and distribution channels tailored to the identified market segments and strategic objectives.

An essential component of the plan is establishing a marketing budget and determining the break-even point (BEP). This financial planning ensures that marketing initiatives are economically feasible and that resources are allocated efficiently to achieve desired outcomes.

Finally, control mechanisms are recommended to monitor progress and measure success. These include key performance indicators (KPIs), periodic reviews, and feedback systems to ensure strategies remain aligned with objectives and to facilitate timely adjustments.

This assignment culminates in a self-reflective section where insights gained from the process are documented, emphasizing the development of strategic thinking, research skills, and business acumen. The overall aim is to create an actionable, well-supported marketing plan that demonstrates critical understanding and practical application of strategic marketing principles.

References

• Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86(1), 78-93.
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Armstrong, G., & Kotler, P. (2015). Marketing: An Introduction (12th ed.). Pearson.
• Grant, R. M. (2019). Contemporary Strategy Analysis (10th ed.). Wiley.
• Ferrell, O. C., & Hartline, M. (2014). Marketing Strategy (6th ed.). Cengage Learning.
• David, F. R. (2021). Strategic Management: Concepts and Cases (16th ed.). Pearson.
• Thompson, A. A., Peteraf, M. A., Gamble, J. E., & Strickland, A. J. (2020). Crafting and Executing Strategy: The Quest for Competitive Advantage (22nd ed.). McGraw-Hill Education.
• Ries, A., & Trout, J. (2001). Positioning: The Battle for Your Mind. McGraw-Hill.
• McDonald, M., & Wilson, R. (2016). Marketing Diagnostics: Strategic Marketing and Planning. Wiley.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic Management: Concepts and Cases. Cengage Learning.