Develop a marketing plan to understand the concept of marketing.

Higher Education Master’s of arts paper

use master’s level academic writing.

Template will be attached. Please answer every question in detail.

1.Marketing Plan (40 points): This project is intended to give you “hands on ” experience in developing a marketing plan for your new academic program that you created in Unit 7 (My Proposal- I will attach).

Creating a marketing plan will help you to understand the concept of marketing. Use the following template (I will attach if you cannot open link) to complete this assignment.

Note:

• Up to 1 point a piece will be deducted for each error in spelling, grammar, punctuation, sentence structure, APA style, etc.

• Please use master’s level academic writing

2. Template

Marketing Plan Outline

1. Executive Summary (4 points)

The Executive Summary highlights the main objectives (clear and measurable) of the marketing effort, key aspects such as budget required, and how success of the marketing campaign(s) will be measured.

2. Business Overview (4 points)

This section should contain background on

– the market

– description of the product or service being introduced

– pricing

– distribution assumptions

– competitors

3. Target Markets and Product/Service Positioning (4 points)

This section should identify the target markets, and also discuss how the product/service will be positioned with those markets. (With whom are you currently competing? How does this offering differ from that of our competitors? What are our compelling benefits?)

Note: This positioning will be key to the details of each marketing strategy and the information developed to support the various promotional efforts.

4. Goals of the Marketing Program (4 points)

What does the institution need this marketing effort to achieve? Express this in whatever terms make sense for your product and service.

Externally, is the goal to crack a particular new target segment of “customers”, one you’ve not had an offering for before?

If your service is internal, is your goal to serve a certain number of departments?

5. Marketing Strategies (4 points)

Outline strategies and programs to reach the above goals.

Market Penetration strategies: If this product/service is being introduced for the first time, what is the strategy for getting noticed, gaining a foothold, and establishing an initial “customer” base?

Market development strategies: If this product/service was introduced previously, and the goal of this marketing program is to grow the customer base, what is the strategy for getting the attention of new target segments, or landing new customers within an existing segment?

Marketing strategies often include approaches such as:

 Use of PR such as mentions in newspapers and publications

 Conference and trade show exposure

 Print marketing

 Direct mail marketing

 Email marketing campaigns

 Offering free seminars to raise awareness and generate leads

 Approaching web sites with free articles to publish

 Offering discounted upgrades to get existing customers to buy the new offering

6. Implementation Tactics (4 points)

This section details the activities needed to accomplish the strategies listed above. If your marketing effort is fairly small or single-pronged (one strategy), this document can include a fair amount of task detail. For larger efforts, this document will summarize the implementation efforts and key milestones, then may refer to a detailed action item list or schedule file that is kept separately.

Create a timeline showing all the marketing “projects”— the implementation tactics—to give a good overview of the entire program. For each marketing “project” needed to accomplish the strategies, plan the key due dates, and who is responsible. For example:

Strategy : Conference attendance to get presence in new market segment

– Attend Conference Z in July 04 to present paper with client.

7. Budget (2 points)

How much will the activities defined above cost? Include the budget you prepared in the “My Proposal “assignment (Week 5).

8. Communication Plan (4 points)

This aspect of the plan focuses on how Marketing will explain the benefits of the product to “customers”.

This section calls out what kinds of information and teaching forums will be used.

Internal information provided as “sales tools”:

 Data sheets

 Scripted presentations

 Educational seminars

External communication items such as:

 Press releases

 Product announcements

 Client case studies

9. Monitoring and Evaluating Results (2 points)

Success Metrics

How will you judge whether the marketing efforts are yielding the desired results?

Progress Reports

How will Marketing report progress and results to executives and others who need to know? Define frequency of status reporting, what information will be reported, etc.

In general, this reporting should show results for each marketing effort, linked back to overall goals of the marketing program.

Adapted from: https://www.mplans.com/