Marketing Plan for a product of my choice not yet on the market.

IMC Project Instructions

Purpose:

The purpose of this assignment is for you to learn and apply the fundamental disciplines of integrated marketing communications through the development of a marketing plan over the duration of the course. Using the information from the course text along with external research, you will develop a 5,000-word (minimum) marketing plan of a chosen product or service (hereafter called “product”), from concept to commercial launch to results measurement. The product must be an item or service that has not yet entered the market (can be imagined) or has just come on the market; this project must detail your approach for the IMC marketing plan (it is not a research paper on what a company has done). The plan will detail the various steps and processes that lead to the necessary consideration of internal and external factors impacting the success of the IMC marketing plan. You will enjoy the learning opportunity from applying textual concepts to a near “real world” IMC marketing plan.

 

Instructions:

Timing

  1. In Module/Week 1, you will consider and choose a product that you wish to “bring to market.”
  2. In Modules/Weeks 1 and 2, you will peruse Part 1: Section 4 – “The IMC Planning Process” to become familiar with the various marketing plan elements and to begin organizing your IMC Project.
  3. In Modules/Weeks 1–7, you will read, study, and learn the IMC elements and processes and begin the preparation of the IMC Project.
    1. Elements identified below must be included in the final IMC Project.
    2. You may add additional elements to the project based upon textual principles and external research (document in accordance with current APA requirements).
    3. Current APA formatting is required
    4. A minimum of 15 external, scholarly references are required.
    5. A minimum of 5,000 words (Microsoft Word only) is required. The title page, abstract, and reference page do not count towards the required word count.
  4. The final IMC Project will be submitted by 11:59 p.m. (ET) on Monday Module/Week 7.

 

The IMC Project must include the following:

  • 15 citations from scholarly references
  • A title page and project “abstract”
  • A table of contents consistent with the sequence of the document
  • An explanation of how your overall IMC plan and the included proposed marketing tactics for this new product will take steps to glorify God and His Son, Jesus Christ
  • For your selected product(s) — Discussion of the “Four Ps”
  • Marketing objectives: must be specific and measurable
  • Discussion of internal and/or external marketing your product will benefit from
  • Compare and contrast the use of an external marketing agency versus an internal marketing team for the development and execution of your plan, and outline what will be done for this product launch
    • Advertising and promotion organization (how it is staffed and structured) based on the above decision
  • Statement of product need(s)
  • A discussion of product branding, image, and positioning
  • A detailed analysis of your chosen target market, including demographics. Within this section, also include details on the following:
    • Existing market metrics (financial analysis)
    • Potential market(s) and consumer groups (existing and new), including current customer demographics if they exist
    • Analysis of generational segments of chosen target market
    • Identify and explain factors that affect the purchasing process for the target market
  • A complete SWOT analysis of the company and chosen product (table and explanations)
  • A thorough competitive analysis
  • Identification of major selling factors… “the big deal!” statement
    • Discuss product merchandising (how it is bought and sold)
    • Detail the “communications objectives” of your product
    • Identify and discuss the following marketing tactics in terms of what options are available for your product, and then provide detail (including specifics, which are able to be imagined) on what options you will choose as a part of this plan. Be sure to provide your reasoning for choosing each tactic, as well as the overall media mix you have landed on. Provision of graphic examples is encouraged but not required.
      • Traditional marketing tools
      • Alternative marketing tools
      • Social media and digital marketing tools
      • Sales promotions
    • Describe the type of “advertising appeals” you have chosen in the above outlined marketing tactics chosen and how each will impact consumer behavior
    • Provide a “creative brief”
    • Prepare a budget (specifics can be imagined, but based on research) for your advertising and promotion campaign being sure to outline costs associated with the marketing tactics presented in your plan.
  • Analysis of any community, governmental, or other regulatory issues
  • Analysis and results measurement of the IMC plan
  • Summary Statement