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BUSINESS CLASS
Date Posted: 18/04/2021
Category: Business
Due Date: 18/04/2021
Instruction
This unit, you will complete all remaining sections of your Strategic Marketing Plan. This plan is to be based on your New Shoes Simulation company. Ensure that you include all feedback from the previous sections as well. Add sections III and IV to your existing plan. Section III: Your NEW proposed Marketing Mix for your New Shoes company NEW Proposed Marketing Mix (Product, Price, Place, Promotion) This should be based on the decisions that you have made throughout the New Shoes simulation. Provide a description and explain the situation based on the New Shoes simulation Section IV Marketing Action Programs Controls Conclusion Executive Summary (belongs at the beginning and summarizes the entire plan) Assignment Parameters Accurate description and reference of all concepts and theories learned from course material. Practical examples of concepts that lead to continuing interest in the topic. Synthesis of concepts and theories from other course activities. Well-organized, clearly presented work ( free from excessive spelling and grammatical errors) Properly cited sources using APA 6th edition. Ensure use of the assignment rubric, template, and guidelines.
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  • o Product- Please explain what changes you would like to make to the current product and/or the product line. Will a new product be added? If not, will you change any features/benefits/packaging/labeling? What other changes will be made to differentiate from competitors? o Price- Please explain the NEW pricing strategy (if any) and justify why the pricing strategy changed. Be specific on what the new prices are going to be. o Promotions- Discuss which promotional tools (advertising, personal selling, sales promotions, public relations) you are going to use, and why. How are you changing the company’s previous promotional strategy to meet the objectives that you created in this marketing plan? o Place - Please describe the new distribution strategy and explain the rationale.
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  • Section IV: • Marketing Action Programs o In Week 5, the two marketing objectives were set. As an example, if your objective was to “Increase product awareness by 15% among the new target audience identified within one year through direct mail and email advertising” then the action plan might include some the following questions: What will be done? Who will be responsible? How much will it cost?
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  • • Controls o How will progress of this plan be monitored to review implementation results? This is essential to allow higher management to assess what is/is not successful during the plan. What would the company do if they are not meeting the objectives that were set? What might be offered to customers if the new changes are not working? ( ½ page) • Conclusion ( ¾ page) • Executive Summary (belongs at the beginning and summarizes the entire plan- 1page)
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