Week 3 Assignment –
Part A: Marketing Plan Input
Throughout this course, you will be creating a marketing plan for a hypothetical company that provides a product or service. For this assignment, you will document your hypothetical company’s background information and mission statement, your company’s short-term and long-term goals, an environmental analysis, and a SWOT analysis. Note: You should make all assumptions needed for the completion of this assignment.
Create the first part of your marketing plan in 5–7 pages using the
- Write an introduction to your hypothetical company, describing its location, the product it makes or the service it provides, and the contents of your marketing plan.
- Develop your company’s mission statement that has a long-term view, and includes its industry, goals and values.
- Identify the main goals that you would like to achieve within the next year (short term) and within the next five years (long term), including the most appropriate ways to measure them both.
- Note: Consider the following metrics: tracking downloads of website content; website visitors; increases in market share; customer value; new product or service adoption rates; retention; rate of growth compared to competition; and the market, margin, and customer engagement.
- Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces.
- Develop a SWOT analysis for your product or service, examining at least three strengths, weaknesses, opportunities, and threats for your company.
- Use at least three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.