MKT3010 Week 5 Assignment 2 Final Project - Part 2
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This week, you will finalize your marketing plan for your selected product or service. Do not incorporate Part I in this week's submission. However, in preparing for Part II, you may have to consider some of the suggestions made by the instructor in Part I.
Complete the following for your marketing plan:
• Determine the pricing strategy you will employ along with your justification. Perform a breakeven analysis to determine how many customers you will need to make your business financially viable.
• Outline your distribution strategy. Determine if there are additional channels you should pursue and why.
• Prepare your integrated marketing communications plan. Discuss the key themes of your campaign and link them to how your business, service, or product will satisfy your target market needs. Describe each element of the promotional mix in detail and explain how you will integrate the different elements of your promotional mix toward the target market using the key themes. This includes the following elements:
o Public relations
o Sales promotion
o Personal selling
o Direct marketing
o Interactive marketing
• Develop an implementation schedule for your marketing plan. Outline the time frame for the different media campaigns and specify milestones. You should outline who will be responsible for each action item and how you will track the deadlines to ensure the plan stays on schedule.
• Explain how you will evaluate the effectiveness of your marketing plan. Discuss the use of a marketing dashboard and provide a sample dashboard for your plan.
Submit a 5- to 6-page paper written in APA format. Search the South University online library for peer-reviewed articles to justify your marketing plan. Include a minimum of three peer-reviewed articles for your paper.
Additionally, you have been asked to prepare a budget. The budget should include estimates of forecasted sales, direct cost of sales, and your marketing expense budget. (Create an Excel sheet with the budget estimates and then copy/paste into your Word document.)