Principles of Marketing
Principles of Marketing MRKT 1001 Course Project Requirements and Instructions Other than the course Final, the course will not include examinations. As an alternative assessment instead of exams, the course requires the completion of a course project that is broken into four parts to be submitted at specific periods throughout the course. For this project, you will focus on a specific company, product, or organization to use in the completion of the project. We can work together on selecting the topic for your course project. As you start to contemplate your selection, please be sure to consider the ready availability of material for you to analyze. Coca-Cola would be an example of good choice. The total course project will count for 40% of your total grade in the course, with each component counting 10%. Each of the four submissions will be graded individually. Team Collaboration: Since it′s best that each student select a different brand or company to complete this project, if any student is interested in working with another student who shares the same passion for a company or brand, then feel free to work together collaboratively in a team. Simply share with me who you have selected to work with and what company or brand has been selected. The overall objective of the course project is to provide a report with recommendations taking the role of a consultant. In this role, it is your job is to provide a detailed report containing a discussion of the topics listed below. [unique_solution]Your assignment is to develop a strategic marketing plan with recommendation on Product, Pricing, Place and Promotion (the four Ps of marketing). The strategic recommendations of the four P’s combined with the beginning situation analysis provide the basics for an overall summary of recommendations on a future marketing strategic plan. It is important to keep in mind that it is not required that all recommendations require a strategic change. Your recommendation(s) may be to keep moving forward using the current strategy; however, each recommendation must include supporting justification. The components with a desсrіption and weeks due follow. Component Desсrіptions Due Date Part One Situation Analysis – SWOT – Overall Strategy Week Three Part Two Recommendations on Product Strategy including product changes and other product development strategies Week Six Part Three Recommendations on Pricing and Distribution Strategy Week Eight Part Four Recommendations on Promotional Strategy and overall recommendations and conclusion Week Eleven The submission for each separate component will consist of a double spaced 4-6 page write up (exclusive of Title page, Executive Summary, Table of Content and References). You will submit each deliverable in the corresponding section of uLearn on the due date. All submissions will include your name, the company, product, or organization name and the component topic of the paper. See below for the overview of the development of each part of the project. The structure each component is three fold; an introduction, body, and conclusion. Expectations for All Submissions • The submission will be written at the collegiate level • The submission will thoroughly be reviewed for grammar, spelling, and syntax errors • The submission will include an outline with heading for each required section • The submission will include an introduction that tells the reader what to expect in the following pages. • The submission will include a conclusion that is clear and specific that provides the reader with a summary of what they just read. • All submissions will include complete and correct citations for both quotations and paraphrased information with references. Overview of Part One The objective of part one of the project, is to provide a synopsis and a situational analysis, including a SWOT, of your assigned company or product. Chapters 1, 2, 8, 4, and 7 in the textbook and independent research should provide the required information related to this topic, in addition to supporting fact related to the other three parts of the project. The information in chapters 1, 2 and 8 will be valuable in putting together part one. Consider part one as the introduction to the project. You will discuss the company or product’s current situation (concentrating on marketing issues) and perhaps past performance if relative. The effective development of this part of the project will set the stage for your recommendation for each of the next three parts. Additional Expectations for Part one • The body of the paper will be fully developed with headers to lead the reader through the synopsis and situational analysis of the current environmental factor pertaining to the Subject Company and/or product. • The SWOT analysis will be fully developed with a substantive discussion for each of the internal factors of Strengths and Weakness and the external environmental factors of Opportunities and Threats. Overview of Part 2 Part 2 concentrates on recommendations for product strategy including potential new product development, product changes and other product development strategies. In addition to the research you conduct, chapters 9 and 10 in the textbook will be valuable in making product recommendations. A review of the subject company and its products or subject product and their performance including product life cycle (chapter 10 and outside research) may provide some insights and discussion points for your recommendations. Keep in mind that you are only making recommendations, as would a consultant, do not be overly concerned with questions of resources or finances. As outlined above each component submission will contain an introduction, main body of discussion and comprehensive conclusion with justified. The objective for this component of the project is to provide analysis and product strategy to be used in the strategic recommendation required in the last component of the project. Additional Expectations for Part two • The body of the paper will be fully developed with headers to lead the reader through the discussion of the product offering and analysis of the product life cycle. The body must include a discussion of the market research to support any new product introduction recommendations Overview of Part 3 Part 3 concentrates on recommendations for both pricing and place (distribution). Together with your research, chapter 11 supports the various pricing models. Chapter 12 discusses marketing channels and distribution methods. This will help in making any recommendation for place (distribution). A discussion of the various pricing models along with a recommendation is ideal. The recommendation may suggest the continuation of the same model or changes depending on your determination; however, whatever strategic approach is decided for either of these marketing mix components the recommendation must include supporting information to justify the recommended strategy. Additional Expectations for Part Three • The body of the paper will be fully developed with headers to lead the reader through the discussion of the pricing strategy and place distribution strategy. The body must include a discussion of the market research to support any new or modification of a pricing and/or place strategic recommendations. Overview of Part 4 Part 4 has two parts the first part concentrates on recommendation for promotional strategy while the second part concentrates on the overall strategic recommendation for the project. Chapter 15 on promotional and chapter 17 on sales process, in addition to your research information on promotional methods will provide support for your recommendations on the promotional strategy. The second section for part 4 requires the creation of a summary section that uses the aggregate of the strategic recommendation from all of the previous parts. This section should consist of two or three pages that provide the reader with a complete, clear, and concise marketing plan strategy for the assigned company or product. Expectations for Part Four • The body of the paper will be fully developed with headers to lead the reader through the discussion of the promotional strategy. The body should include a discussion of the market research and a discussion of market segmentation, differentiation, and positioning in support of the recommendation for promotional strategy. • This section will provide a short concluding discussion that provides the reader with a complete, clear, and concise marketing plan strategy for the assigned company or product. What does an A level paper look like – Each part will include: • Title Page with the topic of the paper, selected company/product/organization, and your name • A table of contents • An executive summary (optional) that provides a brief overview of the submission • An Introduction to the discussion (telling the reader what to expect) • The body of the paper should be 4 to 6 pages double-spaced organized with topic headers • A summary/conclusion/recommendations • Each section should meet the expectations for each part of the project • Properly formatted references page Citations Proper citations and complete and correctly formatted references are required. I prefer APA, however, you can use MLA if you are more comfortable with that system. In academic writing failure to provide citations is considered plagiarism (see student handbook for consequences). Correct citation extends beyond citing quotations. Any statement of fact that exceeds personal experience or research requires a source citation. Although some knowledge information can be considered common knowledge, i.e., water is wet, snow is cold, the Sun is hot, etc., beyond that type of common knowledge a source citation is required. For example, if you paraphrase the information from one of the textbook chapters, you need to cite the source including book title, author and chapter. If you are citing a direct quotation, you need to provide the page number. If you are using personal experience or information from personal research that should be acknowledged; For example, as a Marketing Manager in the pharmaceutical industry I found that . . . The references page should be properly formatted to comply with the selected citation format. Tip: If you use MS Word 2007 or 2010, there is an excellent tool found under the Reference tab. This tool will allow the writer to insert the citation in the appropriate position and provide a wizard to create a list of citations used by creating the references page. Tip2: If you are not familiar with the use of citations click on the following link, which will give you a refresher on when and how to use citations and create a references page. https://owl.english.purdue.edu/owl/resource/560/02/\