This is an assignment that focuses on the development of a marketing plan for company G. Submission of the paper is to be according to the template and also with given details.
Your submission must be your original work You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course. Prepare a one-year marketing plan (suggested length of 5–7 single-spaced pages) using the attached “Company G One-Year Marketing Plan Template” for one of the small appliances from the new line. Carefully examine the details provided in the given Company G marketing scenario and identify the specific information that should be considered while developing the plan. Consider other information from the real world that you should incorporate as you develop the plan. Include the following sections in your plan:
A. Product Support of Mission Statement
1. Firstly, describe the specific appliance you have selected. 2. Secondly, explain how the small appliance you have selected supports Company G’s mission statement provided in the scenario. 3. Thirdly, classify Company G’s proposed product using the three-way consumer product classification system. a. Justify the designated classification.
B. Target Market
1. Describe the target market for the company’s product, including two variables related to demographic information, psychographic information, or geographic information.
C. Analysis of Competitive Environment
1. Analyze Company G’s competitive environment, addressing each of the components of Porter’s Five Forces Model.
1. Firstly, describe three of Company G’s strengths that would support the marketing of the new product. Note: This description should address Company G’s strengths, not the strengths of the product itself. a. Justify your choice of each of these elements as company strengths. b. Identify two strengths that should be considered core competencies.
2. Secondly, describe three of Company G’s weaknesses that would undermine the marketing of the new product. Note: This description should address Company G’s weaknesses, not the weaknesses of the product itself. a. Justify your choice of each of these elements as company weaknesses.
3. Thirdly, describe three current or potential opportunities that would support the marketing of the new product. a. Then, justify your choice of each of these as opportunities.
4. Fourthly, describe three current or potential threats that would undermine the marketing of the new product. a. Then, justify your choice of each of these as threats.
1. Identify one SMART (specific, measurable, achievable, realistic, and time-bound) marketing objective for each of the following marketing mix elements: a. product b. place c. price d. promotion F. Marketing Strategies and Implementation 1. Describe three distinct strategies for each of the following market mix elements that are appropriate for the target market and supportive of the related objective: a. product b. place c. price d. promotion
2. Secondly, explain why this is the best collection of strategies to achieve the objectives identified in part E. 3. Thirdly, describe one implementation tactic for each of the strategies identified in parts F1a-F1d. a. Include a due date and responsible party for each implementation tactic. G. Monitoring Procedures 1. Describe the specific actions that will be taken to measure the progress toward the objectives identified in the plan. 2. Additionally, describe the frequency for each of the actions described in part G1. H. When you use sources, include all in-text citations and references in APA format.