\nSession Long Project
\nHere is the brief overview of this cumulative Session Long Project (SLP). In this
\nresearch project, you would work as a marketing consultant to develop a feasible
\nmarketing plan for your client. You would conduct both secondary research in
\nSLP1 and SLP2 to glean the necessary information for your marketing plan in
\nSLP3 and SLP4.
\nIt is important to conduct quality market research on your focal product\/company
\nin order to develop realistic and workable marketing plans. Generally speaking,
\nthere are two types of research. One is secondary research, which refers to data
\ncollection using existing sources, and the other is primary research, which is your
\nown data collection for the specific study at hand. The purpose of market
\nresearch is to collect usable information to make more informed decisions on the
\nbusiness problem, thus increasing the chance of business success in the
\nmarketplace.
\nPlease check the outline of the marketing plan, which provides information on:
\n1. The final format for this cumulative session long project;
\n2. A list of topics for the whole project;
\n3. The continuity and connections among SLPs 1-4.
\nIn this module SLP4, first develop action plans based on the marketing
\nstrategies developed in SLP3 and then evaluate marketing budget for the
\nplans. This is the final step of this cumulative research project. Be sure to
\nincorporate all the work for this Session Long Project (SLPs 1-4) into a
\ncomplete marketing plan following the marketing plan outline provided
\nabove.
\nMarketing Implementation: Action Plans and Marketing Mix
\nThe action plans and marketing mix are related. That is, the action plans contain
\na complete description of a marketing program, including its goals and objectives
\n(as previously outlined in the section on Goals and Objectives), marketing mix
\nactivities, program evaluation mechanisms and measurements, budget and timing
\nconsiderations, and quantitative assessments. (A complete description of these
\nListen
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\nfinal dimensions follows. Follow the format below for action plan outlines.)
\nBefore you begin working on the action plans, consider the total budget amount
\nfor your charge. Make a realistic budget estimate for your marketing plan based
\non the financial situation of the company and its past spending on marketing.
\nState for each action plan:
\n1. The goal(s) and objective(s) for the action plan.
\n2. The target market at which this action plan is aimed.
\n3. The marketing mix activities needed to implement the action plan.
\nProduct strategy and programs require consideration of things such as brand
\nname, product features\/benefits, differentiation from competition, relationship
\nto delivering value, logo, package design\/labeling, complementary
\nproducts\/services, elements of customer service strategy, and programs. Also,
\nthis is where the service concept, tangibles, customer-contact employees, and
\nso on, need to be addressed. Depending on the charge of your marketing plan,
\nsome of the above may not apply.
\nPrice strategy and programs require consideration of things such as pricing
\nobjectives and relationship to delivering value. Keep in mind that pricing is not
\nrestricted to monetary concerns. Customers are likely to compare the
\nperceived benefits of the new brand to the perceived benefits of the existing
\nbrand and other competitive brands. In other words, customers are likely to
\nperform a cost-benefit analysis, which means that customers must perceive
\nthe new brand to have benefits that are equal to or exceed the perceived
\ncosts. When considering pricing issues, also include costs customers are likely
\nto incur in terms of time, effort, and energy. Consider psychological costs (e.g.,
\nembarrassment, fear, rejection, etc.) and losses (e.g., aesthetics, familiarity,
\netc.), and physical discomfort or loss of pleasure.
\nPlace or distribution strategy and programs require consideration of things
\nsuch as the selection, motivation, and evaluation of channel partners (if
\napplicable).
\nThis is also the place to describe any direct marketing programs (mail,
\ntelemarketing, catalogs, Internet, etc.) and other accessibility issues (e.g.,
\nnumber of local stores, etc.).
\nPromotional activities
\nAdvertising strategy and programs that require consideration of
\nthings such as advertising message (what will be said, unique
\nselling points, benefits to be stressed, value story, points of
\ndifferentiation, etc.), creative style (settings, characterization,
\nhumor or not, testimonials, etc.), media mix, media schedule,
\nand so on.
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\nPublic relations\/publicity strategy and programs that require
\nconsideration of things such as how to get press coverage,
\ngetting the company\/brand name and story out to the public,
\nevent-oriented marketing, and so forth.
\nSales promotion strategy and programs that require
\nconsideration of things such as contests, sweepstakes, event
\ntie-ins, coupons, premiums (T-shirts, hats, key chains, cup
\nholders, etc.), trade shows, consumer fairs, and so forth.
\nSales force strategy and programs that require consideration of
\nthings such as size of the sales force, sales force organization
\n(geographic territory; customer-type based, product based, or
\nsome combination; salesperson characteristics and skills to
\nrecruit and train toward; compensation; motivation), and so
\nforth. This section will describe selling strategy in terms of
\nsales call emphasis, selling strategy and tactics (what should
\nsales people be doing and saying).
\nOther marketing programs that require consideration of methods to
\nsystematically listen to the customer, monitor customer satisfaction\/loyalty,
\nmonitor competition, and become aware of trends that might impact the
\nbusiness. This requires some type of specific intelligence\/information-gathering
\nplan.
\nDescribe the evaluation and measurement procedures to be used to monitor
\noverall performance of the action plan, including quantitative measures and
\nallowable time frames.
\n4.
\nElaborate on the specifics of plan implementation and quantitative projections.
\nThis includes people responsible for programs, budgets, other resources
\nneeded, target completion dates, timetables, and so forth. This requires a
\nconsideration of who does what, when, and for how much.
\n5.
\nQuantitative assessment includes projections of sales dollars and volume, and
\nmarket share, costs, and so forth.
\nFormat: Action Plan Outline (please use a table format, such as in the
\nexample given below)
\nTitle: The title of the action plan should describe the content.
\nGoal and Objective: What will this action plan accomplish? Which of the goals and objectives
\ndoes this plan support? Here you need to go back to your Goals and Objectives section and
\nmake sure you develop at least one action plan for each of the goals and objectives you have
\npreviously outlined. In other words, you do not need to have seven goals in your Goals and
\nObjectives section, a lesser number is acceptable if you develop more than one action plan for
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\nspecific goals and objectives.
\nTarget Market: At which market is this action plan aimed? Stick to your primary target market. Do
\nnot include any ?new? target markets here.
\nDescription of the Action Plan: What are the steps being taken to accomplish the objective?
\nThis section refers to the marketing mix activities deemed best to accomplish the objective. A
\nrich, detailed description is required.
\nWho: Who is responsible for carrying out this program? (Name of person or job title)
\nTiming: When will the program take place? (Start and stop dates)
\nBudget and Estimated Profitability: How much will the program cost? Give details of the
\nbudgetary items for this action plan. Also, you need to include estimated profits and\/or expected
\nreturn on investment.
\nMeasurement: How will the effectiveness of the action plan be measured? How will the
\norganization know that it was successful? Measurement of effectiveness is always quantitative,
\nand may include (depends on your objective) dollar sales, market share, expected customer
\nsatisfaction, advertising effectiveness measures, etc., in addition to a time line (monthly, quarterly,
\nannually, etc.).
\nMarketing Budget
\nUse the objective and task method and rank the action plans in order of
\nimportance. You also need to defend the budget request. The defense should be
\na strong persuasive argument with a clear rationale. Make sure that you include
\nthe profit potential as part of your justification. The defense should be for the total
\nbudget amount requested, not for individual action plans.
\nWhat We Learned
\nWhat did the process of writing a marketing plan teach you? How would you apply
\nwhat you learned from this process to your current or future career?
\nSLP Assignment Expectations
\nUse the following outline to organize your paper. Note that the letters ?a, b, c??
\nand the numbers ?i, ii, iii, iv?? and ?1, 2, 3, 4?? below are used to show the major
\nissues you need to include in your paper, but should not be used to format your
\npaper.
\nVIII. Marketing Implementation (2-6 pages)
\n1. Follow the format provided above.
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\nRemember, suggest at least one action to be taken that can help achieve your
\nstated goals and that are consistent with your strategic statements.
\n2.
\n3. What is the cost\/budget of implementing the suggested actions?
\nIX. Marketing Budget (1 page)
\nYou also need to write an Executive Summary and Table of Contents at the
\nbeginning of this marketing research paper.
\nNote: This assignment has been chosen to evaluate students? writing
\ncommunication skills. In particular, you need to show how to present
\nquantitative data in tables\/charts\/diagrams with proper discussion in the
\ntext. You would note the different grading rubric used for this paper. Be
\nsure to check the rubric before you write this final paper for the cumulative
\nproject. Make sure to include previous sections into the final paper.
\nUse double-spaced, black Verdana or Times Roman font in 12 pt. type size.
\nInclude a title page and references. Revise your previous SLPs based on the
\nprofessor?s feedback and your additional research. Follow the SLP outline to
\nprepare the final paper.
\nExplain clearly and logically the facts you find about your company and charge,
\nand use the required reading to support your positions on the issues. Do not
\nrepeat or quote definitions. Your use of the required reading to support your
\nopinions (that is, contentions or positions) should demonstrate that you
\nunderstand the concepts presented.
\nParaphrase the facts into your own words and ideas, employing quotes sparingly.
\nQuotes, if absolutely necessary, should rarely exceed five words.
\nAcademic papers at the master?s level should include citations and references.
\nLook at different sources, especially credible and reputable resources such as
\nThe New York Times, The Wall Street Journal, Businessweek, and The
\nEconomist, to find the information for your paper. Also use Trident University?s
\nonline library databases such as ProQuest and EBSCO to find the information for
\nyour project. Your discussion on each topic should be a synthesis of the different
\nsources. Taking shortcuts on the number and quality of your sources will result in
\na poor-quality marketing plan that will be of no use to your client.
\nAlso, it is important that you reference your sources throughout the text of your
\nmarketing plan. Take the following paragraph as an example:
\n?As a result, telephone interviewers often do not even get a chance to explain that
\nthey are conducting a survey (Council for Marketing and Opinion Research,
\n2003), and response rates have steadily declined (Keeter et al., 2000) to reported
\nlows of 7% (Council for Marketing and Opinion Research, 2003). This decrease
\npresents a problem because not only does it increase the cost of conducting
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\ntelephone surveys, but it also leads to questions concerning the generalizability of
\nthe results (Struebbe, Kernan & Grogan, 1986; Tuckel & O?Neill, 2002).?
\nThere are different citation and reference formats such as APA, MLA, or Chicago.
\nNo matter which format you adopt for your marketing plan, make it consistent
\nthroughout the plan.
\nAlso note: The marketing plan should use third person business writing. Avoid
\n?we,? ?our,? and ?you.? Do not use contractions in business writing.
\nHere are some guidelines on how to conduct information search and build critical
\nthinking skills.
\nEmerald Group Publishing. (n.d.). Searching for information. Retrieved from
\nhttp:\/\/www.emeraldinsight.com\/learning\/study_skills\/skills\/searching.htm
\nEmerald Group Publishing. (n.d.). Developing critical thinking. Retrieved from
\nhttp:\/\/www.emeraldinsight.com\/learning\/study_skills\/skills\/critical_thinking.htm
\nGuidelines for handling quoted and paraphrased material are found at:
\nPurdue Online Writing Lab. (n.d.). Academic writing. Retrieved from
\nhttps:\/\/owl.english.purdue.edu\/owl\/section\/1\/2\/
\nPurdue Online Writing Lab. (n.d.). Quoting, paraphrasing, and summarizing.
\nRetrieved from https:\/\/owl.english.purdue.edu\/owl\/resource\/563\/1\/
\nPurdue Online Writing Lab. (n.d.). Is it plagiarism yet? Retrieved from
\nhttps:\/\/owl.english.purdue.edu\/owl\/resource\/589\/02\/
\nYour paper consists of arguments in favor of your opinions or positions on the
\nissues addressed by the guidelines; therefore, avoid the following logical fallacies:
\nPurdue Online Writing Lab. (n.d.). Logic in argumentative writing. Retrieved from
\nhttps:\/\/owl.english.purdue.edu\/owl\/resource\/659\/01\/
\nYour SLP should not simply be a list of facts. Take the facts you find about the
\ncompany, the charge, and the environments that the company faces, and explain
\nhow you think those facts will affect the financial future of the product or brand in
\nyour charge. The emphasis in grading your paper will be on the breadth and
\ndepth of your discussion of each topic, critical thinking, the clarity of your
\ndiscussion, and the proper organization of the paper.
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