Examine the Possibility of Multiple Relationships.
Overview
Throughout this course, you will create a marketing plan for a hypothetical company that
provides a product or service. (Remember, you selected this company and product or
service in your Week 1 discussion.) For this assignment, you will build a foundation for
your marketing plan by creating a situational analysis for your hypothetical company.
This will include a marketing plan summary, short- and long-term goals, a competitive
analysis, a SWOT Analysis, and a customer analysis for your hypothetical company.
Note: You should make all assumptions needed for the completion of this assignment.
Instructions
Complete this assignment using the Marketing Plan Template Part A Download
Marketing Plan Template Part A [DOCX].
Step 1: Use the Marketing Plan Template Part A to complete Part A by developing 3 to 4
double-spaced pages, excluding the title page and sources page. Save it as
Lastname_Firstname_MKT500_MarketingPlan_PartA_Assignment.
Step 2: Follow the instructions carefully as you complete each assignment, updating and
improving the content based on instructor feedback.
Step 3: Review the assignment rubric to ensure you have met all requirements and submit
the completed template using the assignment link in your course.
Section Instructions
, Marketing Plan Summary
1. Develop a Marketing Plan Summary for your hypothetical company.
Include the company name, type of business, the product it makes or the service it
provides, and location.
Your answer in this section should be 1-2 paragraphs. Refer to the Week 1 Discussion.
Goals
2. Determine the short-term goals (within one year) for your company.
Include an appropriate strategy to measure them.
3. Determine the long-term goals (within five years) for your company.
Include an appropriate strategy to measure them.
The short-term and long-term goals should be realistic, practical, and “SMART”
(Specific; Measurable; Achievable; Realistic; and Time-based).
Consider revenue and profit when creating your goals. The following metrics would
likely be considered: increases in market share, new product adoption rates, retention,
rate of growth compared to competition and the market, and margin.
Your answer in this section should be 1-2 paragraphs.
Competitive Analysis
4. Develop a competitive analysis for two of your hypothetical company’s competitors.
Include the following components in the analysis:
Why you selected the two competitors.
The product or service offered by each competitor.