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LP8 Assignment: Marketing Plan Outline

This assignment will assess Competency 8. Explore the general principles of marketing strategy, development, and implementation.

Directions: For this assignment, you will create an outline of a marketing proposal to launch a new product. The outline must consist of a brief introduction and conclusion, and must provide an explanation of each of the 4 P’s, as well as considerations for the variables of which you have no control, yet have an awareness of with regards to your product. The Outline should run between 1 to 2 pages and length and follow a general outline format.

I. Introduction

II. Considerations for the things you can control (Marketing Mix, 4 P's). You will need to provide an explanation for each of the 4 P's: • Product • Place • Promotion • Price

III. Identify the things you cannot control. Provide an explanation for each of the following: • Social or Cultural Environment • Legal, Political, and Regulatory Environment • Economic Environment • Technological Environment • Competitive Environment

IV. Conclusion

DISCUSSION QUESTION:

THINK about the last purchase you made over $100; this could be a cell phone, a computer, or any number of things. Next, check out this brief YouTube Video, What is the Marketing Mix? presented by YourMarketingProfessor.com: Now, THINK about everything the marketer may have done to get you to buy that particular item. It’s likely that more time and effort went into the 4-P’s than you spent identifying what you wanted to buy!

Think back to first exercise from this Learning Plan, recall the last $100 item you purchased. Consider your thoughts on the actions the marketer took to get the item ready for your purchase. Now think about the time and effort you put into buying this particular item. How much thought did you put into the purchase? What cultural or personal factors influenced your decision? What do you know about your purchase now that you didn't know before making it? If you do know more, is that a good or a bad thing? Have you evaluated the service? And if so, what feedback did you provide and how?
As you answer these questions, consider how a company capitalizes on both the buyer decision-making process and buyer evaluation process with its product or service.