Marketing

Please help with assignments, see attached instructions.

BUSI 330

Collaborative Marketing Plan (CMP)
Overview

Introduction

In many organizations, the assignment and completion of team-based projects are increasingly done without any of the participants physically meeting. The use of technology, such as teleconferences, video-teleconferences, and computer technology has allowed organizations to reduce the costs of sending employees cross-country or even overseas. To be successful in this kind of environment, you need the ability to work with distant team members. This assignment provides the experience necessary to help you gain that skill.

The Assignment

You will work with other classmates to complete a Collaborative Marketing Plan that introduces a new product by an existing Fortune 500 company. If your team has an idea that would be a great fit for any company (perhaps even one that a group member is working for), be sure to seek the instructor’s permission before you implement it. Keep in mind that it is usually difficult to research smaller companies (especially those that are privately held unless you work for one and have good internal sources of information). You can change the name of the company if you wish to disguise the discussion of their strengths, weaknesses, or other “possibly sensitive” information.

Your groups will be formed during the first week of class per the instructor. Once you are notified of your group, begin working together on your Collaborative Marketing Plan. Please conduct all work on this plan in your Group Discussion Board (DB).

Your group will need to elect a project leader, set goals and milestones, and use creativity in this endeavor to develop and apply skills in a similar manner to real-world situations. It is critical that each member participates in group activities. To do less deprives every member, including the one who fails in his or her responsibility to the group. In general, it is the responsibility of the group to enforce its rules regarding completion of assignments, participation in discussions, etc. The instructor will be monitoring your Group DB forum on a weekly basis and, as needed, will comment on your postings. Part of your CMP grade is based on your participation.

This Plan will be completed in stages as described in the Assignment Instructions folder. Each Draft assignment builds on previous drafts toward the completed CMP due at the end of the course. All CMP assignments must be submitted via the designated Group DB forum.

Researching & Writing Your CMP

In your textbook, Appendix “A” (starting on p. 44 of the text) is a very useful resource if you need to write a marketing or business plan. The appendix contains a discussion of both marketing and business plans and also provides a sample marketing plan for a company called Paradise Kitchens, Inc. Please read the plan from start to finish (pp. 46 – 57). The plan is broken into 10 sections (plus appendices). You will be required to include the first 7 sections in your CMP. Be sure to write in APA format with Times New Roman, 12-point font, double-spacing, indentation, and consistency in all labeling.

College level writing is expected for this project. Areas where the students have had problems in the past are the following: spelling and grammar, omission of required topics or subject material, omission of outside references, plagiarism, and failure to meet stated length requirements. Grammar is one of the primary problems. Use the

LU Online Writing Center

as an aid.

CMP Accountability Table

The group concept of the CMP is intended to draw the skill and effort of each student into each draft assignment and to the final marketing plan. Thus, you are required to communicate and post weekly contributions, thoughts, ideas, and other helpful communication in your respective Group Discussion Board forums. Because part of your grade is based on this participation, it must be documented in the CMP Accountability Table (XLS). This table is to be completed and submitted with each progressive draft and with the final marketing plan. One student within the group should manage this effort, accurately reporting individual and team contribution.

CMP DRAFT 1

1. A thread that summarizes your group’s commitment to the project. This should include key criteria such as group expectations for participation by group members as well as a schedule related to member participation. Note that the group project includes both individual posts, review and critique of member posts and finally, a group consolidation of information for each module.

2. A thread in Group DB Forum 1 explaining your idea for a new product, the name of the company that will launch the new product and a short description of the company. Read ch. 3 for changing consumer and environmental trends that give rise to unmet or changing needs. You should also read ch. 8 & 10 to get an idea how marketing research can be used to support the development of new products.

3. Finally, a thread with Draft 1 of your Marketing Plan (MP) attached as a Word file. Your draft should contain the following sections:

· Company Description: Please see page 47 in your text for an example of the expected information in this section.

· Strategic Focus: You must research the company and identify the company’s mission (why the company exists; whom does the company serve) and (if possible) their vision (what does the company want to achieve – e.g., grow to become the industry leader, gain #1 status in the market; become known as an environmental leader).

· Company Goals: This one may be more difficult, but you may be able to find annual statements for the company (if it is publicly traded) or comments / speeches by the company CEO / president that will help you to identify either financial or non-financial goals.

· Core Competencies and Sustainable Competitive Advantage (SCA): Information on these two topics may not be readily apparent (especially the source of the company’s SCA, but you should look for information on these topics as you work through the elements of the MP.

CMP DRAFT 2

1. A post with Draft 2 of your Marketing Plan attached as a Word file. Draft 2 should include the following section:

2. Situation Analysis: Please review pp. 49 – 52 of the sample MP. You should notice that Section 4 (Situation Analysis) contains 5 major elements. They are:

· SWOT analysis

· Industry Analysis

· Key Competitors

· Company Analysis

· Customer Analysis

CMP DRAFT 3

· A thread in Group DB Forum 4 with the final Marketing Plan attached as a Word file. In addition to the components identified in the previous drafts, this final MP should include the following sections:

· Marketing Programs & Financial Projections.

You should review pp. 54 & 55 of the text for examples of the key issues that should be discusses within these sections of the MP. You will need a comprehensive marketing program which includes a discussion of: the Product Strategy, the Pricing Strategy, the Promotion Strategy and the Distribution (channels) Strategy.

The last section on Financial Projections should show a five year projection of expected revenues. In addition, you should present some type of idea when BE (break-even) will take place. Companies that introduce new products generally do not make a profit in “year 1” because of the high development and marketing costs required to test and launch the product. Obtaining costs will be difficult, but you should try to estimate costs.

· Executive Summary (ES)

Finally, once the MP is written, you will need to write the Executive Summary. The ES is written last, but is placed right after the Table of Contents. You will want the reader to see the ES first. If they like it, they may read on. If it does not excite the reader, the MP will likely be discounted. The ES should contain only the most important findings, conclusions and recommendations contained within your plan.

· The Table of Contents

The Table of Contents should contain a list of major sections of your marketing plan with the names of the group members that participated in the actual writing of each section. This will allow the instructor to evaluate each member’s contribution to the overall group project.

· Appendices

The only Appendix required is a Reference List. Keep in mind that data and key information may need citations, but will surely require a reference list. A plan with no references will be considered marginal since information sources add considerable credibility to the ideas in your plan.

Business 330 (Marketing)

200 words responding to the topic presented

Assignment Topic 1: Consider an idea that you have had for a new product; a product that falls into that category of “Gee, I wish someone would develop_______…” or “…I’ ll bet ______ would be a great product.”
Here is your chance to develop the idea into a potential product!

Follow the 7 stages in the new product development process (found in ch. 10), submitting one explanatory paragraph for each of the 7 stages. Identify the stage, page number, & the specific application to your new product idea.

Be creative. Where you may lack data to completely consider any of the 7 stages with respect to your imagined product, explain what would be necessary and/or what you know about the respective stage, as it relates to the product you are developing.

Note: Remember that you are “imagining” or “creating” the information versus information that actually exists.

Throughout each stage, be specific in the summary of your idea/product.

This is an “outside the box” assignment, but standard formatting, spell check and grammatical accuracy is required