Final Assignment B: Your Marketing Plan (30 points) [Part 2]
Other Marketing Goals (2.0 points)
You may have other marketing goals that you wish to measure.
For example, you may want to measure improvements in customer satisfaction and find out why customers are more satisfied. Did your marketing efforts create more accurate expectations about the product?
For example, you might want to measure whether your customer demographics have shifted toward the target market you are trying to focus on.
Instruction: Describe at least one other marketing goal you would like to achieve. 1-3 sentences.
Marketing Message (4.0 points)
Describe the message you plan to communicate to your target market.
This should be a focused message that explains the benefits of the product in a way that appeals to people's needs, desires, or fears.
Instruction: Write 2-3 short paragraphs about the marketing message you will use and why you chose this message. Why does it appeal to your target market?
Pricing (4.0 points)
Discuss your strategy for determining the price of your product.
Explain how your pricing strategy will support your overall brand image, marketing message, and financial goals.
Instruction: Decide what the price for your product will be, and describe at least two factors you considered in determining that price.
Promotional Strategies (4.0 points)
Promotional strategies are the ways you will communicate and support your marketing message.
This includes things like advertising methods, public relations efforts, publicity, and other communications.
Describe in detail each method you will use, such as types of ads and their content, or public relations tools like newsletters, networking, and improving your Web site.
Set timelines for when you will put each promotional strategy into action.
This section of your marketing plan should also describe which things your company will do for itself and which things you will hire other people or companies to do for you.
Instruction: Write 2-3 short paragraphs describing at least two promotional strategies you will use.
Budget (2.0 points)
In this section, you define your overall marketing budget for a specific length of time.
Then break down the budget to show where the money will be spent.
For example, you should have a budget for each advertising campaign, public relations effort, and so on.
Explain how you decided on these numbers for the budget, and why you think it will be worth spending this amount.
Instruction: Decide what the total marketing budget will be, and make a list of at least four things you will spend money on and how much you think they will cost.
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