A major purpose of the marketing plan is to set the company on a specific course
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A major purpose of the marketing plan is to set the company on a specific course in marketing. Marketing planning is the systematic process of assessing marketing opportunities and resources, determining marketing objectives, defining marketing strategies, and establishing guidelines for implementation and control of the marketing program. The outcome of planning is a written document that outlines the activities and objectives necessary to implement marketing strategies successfully – a marketing plan. The marketing plan provides a framework to stimulate thinking and provide strategic direction. The attached Sample Market Plan document contains all the information we have learned from this class as of today.
Choose a product or service of your own interest, discuss different digital media, and the pros and cons of using each as part of your marketing plan. Make sure to list the different digital media mentioned in the text (social networks, blogs, wikis, apps, video and photo sharing, virtual realities, podcasting, and widgets). Provide the details of your marketing activities from each of these channels, and evaluate the effectiveness of the product, pricing, distribution, and promotion strategies.
Please note: most marketers conduct complete market research as shown in the attached Sample Market Plan. I do NOT expect you to do the same in this exercise. However, your essay should contain the basic analysis of target market, marketing strategy, and performance evaluation. Have fun in this exercise!