Marketing Question

Unit 5 Assignment Directions: Marketing Plan Part 2 – Strategy and Market Analysis

Purpose

Part 2 of your marketing plan will allow you to build on your initial overview and environmental scan. You will deepen your ability to be agile given the research you compiled in Part 1 and based on your analysis, you will develop a target market strategy and communicate your offering’s value and position. Utilize your findings and instructor feedback from Part 1 as you complete the strategic components of your plan in Part 2.

As you did with Part 1, you will acquire knowledge of your selected topic through primary and secondary research and convert that knowledge into a cohesive marketing plan. Your marketing plan will demonstrate value to customers and reflect a vision for profitability that encompasses the new realities of today’s dynamic and advancing marketing environment.

Task

Complete Part 2 of your marketing plan

Part 2 of your marketing plan evaluates the target market, strategy, and market analysis, building on a foundation from Part 1 and preparing the framework for the tactics and implementation components of Part 3 of your marketing plan.

In Part 2 of your marketing plan, you will:

1. Review and the Marketing Plan Template for information on developing the content for your assignment.
   1. Refer to the feedback from your submission of Part 1 and make any appropriate updates.
   2. Add the subsequent sections from Part 2 of the marketing plan for the strategy and market analysis sections of your plan.
2. Refer to the Full Marketing Plan Example for additional guidance.
3. Complete the Strategy and Market Analysis.
   1. Include:
      1. Market Research and Target Market – Current
      2. Target Market – Potential
      3. Value Proposition and Positioning

Reminder: The template contains the components of the entire marketing plan. This unit assignment focuses on Part 2. Review the feedback and make updates from Part 1 and complete Part 2 of the Marketing Plan for this assignment. You do not need to complete Part 3 now.

Format Requirements

Format your submission to comply with these requirements:

• Create your marketing plan in a Microsoft Word document formatted as a professional document.
  • One-inch margins
  • Double spaced
  • 12-point Times New Roman font
• Follow the basic outline depicted in the Marketing Plan Template.
• Organize sections using headings and subheadings to improve readability.
• Include tables, graphs, and figures as appendices.

Research and References Requirement

• All statements of fact must be supported by a credible source, and that source must be cited using in-text citations. See Is My Source Credible?
• Include a list of your sources. The reference list is required and should appear at the end of each submission and then moved to be combined at the end of Part 3. The references will be on a separate page.
• As you conduct research for your selected topic, remember to use the UMGC Library research guides and databases, such as ABI/INFORM.