Marketing strategy, budgets, and controls

Marketing Plan – Part 2

Your plan will follow the marketing plan outline illustrated in table 2.2 of your textbook and further described in Appendix 1: Sample Marketing Plan for Sonic, a fictional product. You will submit your Marketing Plan Term Project in two parts:
Part 2: Marketing strategy, budgets, and controls (20 percent of final grade)
(Part 2 will also include an executive summary, all slides from Part 1, all footnotes, and a bibliography.)
You will be graded on the following criteria (refer to grading rubrics for more detailed information):

  • the degree to which you demonstrate your ability to conduct relevant external research
  • the degree to which you demonstrate application of the marketing principles covered throughout the course
  • the degree to which you exhibit critical-thinking skills
  • the degree to which you present a professional final product
  • Step 4: Prepare Marketing Plan Term Project, Part 2 (worth 20% of final grade)
  • Due: End of week 8 (check course schedule for specific due date)
  • Incorporate all comments provided by your faculty member in Part 1; continue with your marketing plan by completing the following sections:
  • C.  Objectives and Issues
  • 1.  Statement of marketing objective(s) (for first year only)
  • 2.  Issues that may hinder marketing objectives
  • D.  Marketing Strategy Recommendations
  • 1.  Positioning strategy
  • 2.  Product/Branding strategy
  • 3.  Pricing strategy
  • 4.  Distribution strategy
  • 5.  Marketing Communications objectives
  • 6.  Marketing Research
  •  E.  Action Programs
  • 1.  IMC
  • 2.  Message design, content, and structure
  • 3.  Media choices
  • 4.  Promotion mix tools
  • F.  Budgets
  • 1.  Objective/task method
  • G.  Controls
  • 1.  Metrics needed to monitor marketing plan progress
  • Finished product: Put it all together by incorporating changes to Part 1 as suggested by your faculty member’s feedback, and then add your title slide, an index slide, an executive summary slide, endnotes, and a bibliography.
  • Marketing Plan Term Project Submission Requirements for Parts 1 and 2
  • LengthMinimally, you should have at least one slide per topic, plus your title page and source page(s).
  • All information should be contained on the slide itself. Do not use the ‘notes’ section of the slide.
  • Reference numbers. Include the reference numbers noted in the outline for both Part 1 and Part 2 on your slides (e.g., A.1.a; A.1.b; A.1.c, and so forth).
  • Professionalism. Be sure to refer to the PowerPoint Presentation Tips under Course Content, Marketing Toolbox, to ensure that you submit a professional product. This will be part of your grade for both Part 1 and Part 2.
  • Citations and Bibliography. Use an acceptable style guide (e.g., APA or MLA) for citations. See UMUC’s library website for useful citation tools.
  • Submit for grading. Save your PowerPoint presentation file as a .ppt file and upload it to your Assignment Drop Box by the due date specified in the course schedule.

Detailed Grading Criteria for Marketing Plan Term Project, Part 2
C.  Objectives and Issues (5 points maximum)

  • 1.  Statement of marketing objective(s) (for first year only)

2.  Issues that may hinder marketing objectives

Points Awarded Assessment Criteria
5 Student demonstrates superior performance in stating a marketing objective based on an analysis of current marketing situation. Marketing objectives and issues directly link to the situation analysis and are appropriate for the product/market situation. Clearly demonstrates the link between the current marketing situation and the establishment of new marketing objectives to move the product/service forward. Realistic issues in achieving the marketing objective are noted. Student demonstrates superior critical-thinking skills.
4 Student demonstrates good understanding in stating a marketing objective based on an analysis of the current marketing situation. Marketing objective may be a little general based on the current situation analysis, but on-track. Issues generally support the product/market situation. Student demonstrates some critical-thinking skills.
3 Marketing objectives listed but are very general and not necessarily based on the current situation analysis. Student does not demonstrate a high level of critical thinking.
0–2 Marketing objectives are off-track, do not reflect a marketing objective. Student fails to discuss any issues; does not appear to understand the link between the current situation analysis and the development of new marketing objectives.

D.  Marketing Strategy Recommendations (60 points total)

    1. Positioning strategy (10 points)
    2. Product and branding strategy (10 points)
    3. Pricing strategy (10 points)
    4. Distribution strategy (10 points)
    5. Marketing communications strategy (10 points)
    6. Marketing research (10 points)

The following grading criteria will be applied to each of the six sections in part D, listed above.

Points Awarded Assessment criteria
9–10 Demonstrates superior understanding and application of the marketing concept to the product/service scenario.
8 Demonstrates good understanding and application of the marketing concept to the product/service scenario.
7 Demonstrates average understanding and application of the marketing concept to the product/service scenario.
6 Demonstrates poor understanding and application of the marketing concept to the product/service scenario.
0–5 Does not demonstrate an understanding and application of the concepts to the product/service scenario.

E.  Action Programs (5 points maximum)

    1. IMC
    2. Message design, content, and structure
    3. Media choices
    4. Promotion-mix tools
Points Awarded Assessment Criteria
5 Demonstrates superior understanding of how IMC can be used to support the marketing objectives of the product/service scenario and recommended marketing strategies. Applies the AIDA model to illustrate how the promotion tools would mix. Recommends message, media, and promotion-mix tools that are appropriate for the recommended marketing strategies.
4 Demonstrates good understanding of IMC to support marketing objectives of the product/service scenario; may be weak in showing connection between recommended marketing strategies and a promotion mix. May not apply the AIDA model. Recommends message, media, and promotion-mix tools that may be a little too general or off-track for the recommended marketing strategies.
3 Demonstrates an average understanding of IMC to support marketing objectives. Student does not devote much time to this section, not clearly illustrating the relationship between marketing strategy and IMC.
0–2 Does not demonstrate an understanding of IMC or its tools as they can apply to the product/service scenario.
  • F.  Budgets (objective-and-task method) (5 points maximum)
Points Awarded Assessment Criteria
5 Student provides a thorough discussion of how the objective-and-task method can be used to execute promotion strategy. Details such as media rates are not required.
4 Student briefly but accurately discusses how the objective-and-task method can be used to execute an IMC plan. Details not required.
3 Student describes the objective-and-task method but does not demonstrate how it is applicable to the promotion strategy.
0–2 Student does not demonstrate an understanding of the objective-and-task method.
  • G.  Controls (metrics needed to monitor marketing-plan progress) (5 points maximum)
Points Awarded Assessment Criteria
5 Student outlines at least three marketing metrics that can be used to monitor the marketing plan.
4 Student outlines two marketing metrics that can be used to monitor the marketing plan.
3 Student outlines one marketing metric that can be used to monitor the marketing plan.
0–2 Student does not provide any marketing metrics to support marketing plan, or the metrics provided are off-track.
  • Overall presentation/executive summary/style/professionalism/adherence to requirements (20 points maximum)
Points Awarded Assessment Criteria
18–20 Student submits a professional PowerPoint presentation that is easy to read and follow, incorporates faculty’s comments on Part 1 and subsequent recommendations, properly cites references, and provides bibliography prepared using a college-level writing guide. Presentation is free of typographical or grammatical errors.
16–17 Student submits a professional PowerPoint presentation that is easy to read the follow but may not incorporate faculty comments from Part 1. Some disjoint between Part 1 and Part 2 in that student did not draw from analysis of current situation to develop new marketing strategies.
14–15 Student submits an adequate PowerPoint presentation but lacks sufficient depth of critical thinking, as evidenced by failure to link current marketing situation to development of new marketing strategies. Presentation may have some typographical and grammatical errors, may not demonstrate use of a college-level style guide for citations, and may be missing executive summary.
12–13 Student submits a poorly done PowerPoint presentation that contains numerous typographical and grammatical errors; does not site sources appropriately; does not incorporate faculty input from Part 1.
0–11 Student does not produce a unified, cohesive PowerPoint presentation as required. Presentation contains significant grammatical and typographical errors, lacks citations, does not indicate use of a college-level style guide, does not comply with submission requirement

Rubric Name: Marketing Plan Part 2 Grading Sheet

Criteria
C.  Objectives and Issues (5 points maximum)
1.  Statement of marketing objective(s) (for first year only)
2.  Issues that may hinder marketing objectives
Student demonstrates superior performance in stating a marketing objective based on an analysis of current marketing situation. Realistic issues in achieving the marketing objective are noted. Student demonstrates superior critical-thinking skills
 
Marketing Strategy Recommendations: Positioning strategy
Demonstrates superior understanding and application of the marketing concept to the product/service scenario.
Marketing Strategy Recommendations; Product and branding strategy
Demonstrates superior understanding and application of the marketing concept to the product/service scenario.
Marketing Strategy Recommendations: Pricing Strategy
Demonstrates superior understanding and application of the marketing concept to the product/service scenario
Marketing Strategy Recommendations: Distrubution Strategy
Demonstrates superior understanding and application of the marketing concept to the product/service scenario
Marketing Strategy Recommendations: Marketing Communication strategy.
Demonstrates superior understanding and application of the marketing concept to the product/service scenario
Marketing Strategy Recommendations: Marketing Research
Demonstrates superior understanding and application of the marketing concept to the product/service scenario
Action Programs:

  1. IMC
  2. Message design, content, and structure
  3. Media choices
  4. Promotion-mix tools

Demonstrates superior understanding of how IMC can be used to support the marketing objectives of the product/service scenario and recommended marketing strategies.

Budgets;(objective-and-task-method)
Student provides a thorough discussion of how the objective-and-task method can be used to execute promotion strategy. Details such as media rates are not required.
Controls (metrics needed to monitor marketing-plan progress)
Student outlines at least three marketing metrics that can be used to monitor the marketing plan
 
Overall presentation/executive summary/style/professionalism/adherence to requirements
Student submits a professional PowerPoint presentation that is easy to read and follow, incorporates faculty’s comments on Part 1 and subsequent recommendations, properly cites references, and provides bibliography prepared using a college-level writing guide. Presentation is free of typographical or grammatical errors
 

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