See template file attached.
Marketing Plans are tools used by managers to guide the process of marketing. They contain strategies, and consider many environment aspects that work together to affect the success of the product or service being marketed.
Marketers must learn to do solid research in support of projects. This project must address the following:
Provide a quick definition of Marketing Plans.
Using an article from the following ABI Inform Global, Academic Search Premier, and Business Source Premier discuss an example of how a marketing plan helped make a product/service successful.
On the other hand (using an article from the following ABI Inform Global, Academic Search Premier, and Business Source Premier), discuss an example of how decisions in a marketing plan led to failure.
Analyze what was different in the two examples.
In a marketing plan, objectives are created that can be used to gauge progress. Let us have some fun with the concept. Movie studios pay stars big bucks to star in what they hope is a blockbuster. But as we know, there are lots of box office flops (failures).
Using an internet search, find a movie that failed. Provide a quick overview of why the movie was considered a 'flop'.
Applying concepts of market plans, extrapolate what could have gone wrong in the studio's plan with regard to forecasting demand for the project.
This assignment requires the use of ARTICLES from the following ABI Inform Global, Academic Search Premier, and Business Source Premier. Articles are found in periodicals. These are not to be confused with eBooks or Reference Books.
Must use one of the following most popular databases in marketing are: ABI Inform Global, Academic Search Premier, and Business Source Premier.
Report MUST include a reference list.
All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your paper.
The paper should be written in third person; this means words like 'I', 'we', and 'you' are not appropriate. The use of direct quotes is discouraged, but may be used sparingly in appropriate situations.
Assignment should contain a cover page, an abstract page and a reference page in addition to the body. The body of the paper should start with a brief one paragraph introduction and end with a short conclusion.
Please submit as a Word document in APA format using the attached TEMPLATE.
Background on Research Requirements
In the business world, it is important to use research to strengthen points that you make in presentations and projects.
References, to using specific databases throughout this course.
Research is a crucial skill in marketing and learning to use the search functions in these databases is about critical thinking.
The most popular databases for marketing articles are: ABI Inform Global, Academic Search Premier, and Business Source Premier. Must, focus on these databases that contain articles rather than those with reference materials (like Credo Reference) and eBooks (eBrary).
Must, steer away from inferior websites with anonymous writers, articles found on consultant websites, materials on sites like QuickMBA.com, MarketingProfs.com, etc. Dictionaries and Encyclopedias most often repeat the information from your text.
For the basic definitions, the Kotler textbook should be used. Donâ??t use old texts or books. Acceptable internet resources include government sites (especially for statistics), websites for Associations (like the American Marketing Association), and company websites when you are researching a company or product. Think of it this way why rely on what we ALREADY know; ADD to knowledge base by going out & researching?
You are not permitted to use Wikipedia or any open source website in this course.
Objective: Discuss the implications of the societal marketing concept.
Analyze cases that focus on key marketing management tasks, such as marketing research, sales forecasting, product and brand management, distribution channels, pricing, and promotion and advertising strategies.
Use effective communication techniques.
Compare and contrast competitive marketing strategies.
This report discusses about marketing plan. It covers examples of successful and failed marketing plan. It describes the difference existed between a successful and failed marketing plan. It also shows a market analysis of a flop movie. Apart from this, it also covers the factors that were responsible for the movie failure.
Nowadays, organizations are using marketing plans to add value to their marketing activities. In the era of globalization, it becomes essential for the firm to conduct marketing plan with a cautious outlook (Kotler & Westman, Fall, 2006). To become successful, it is vital to have a look over the successful and failed marketing plans.
Definition of Marketing Plan
A marketing plan is a series of activities that are formulated to attain a specific objective or goal in a set time period (Holden, 2000). It is developed by management for the short term and long term benefits of the organization. To develop an effective marketing plan, it is essential to know where the company is, where it wants go and how it will go. Proper analysis of internal as well as external marketing factors is essential to attain stated marketing objectives.
Marketing Plans: an Example of Success
Marketing plans if structured in an effective manner by considering all critical success factors, it is possible to attain the stated marketing objective (Spallina, Fall, 2005). Marketing plan developed by Coca Cola with the campaign of spreading coke as an essential part of life in the world had resulted into a blockbuster success for the company. The company has used famous musicians like new seekers and hilltop singers for the musical advertising campaign that gained interest of people towards the use of coke (Klein, February, 2008). The company had developed the hit charts on a theme of thing go better with Coca Cola.
The company had stressed over youthfulness to lure the attention of target audiences. It had analyzed demographic factors like age, gender, income etc before the implementation of its marketing plan to position coke in the minds of people. It had used broadcast, outdoor and print media for promoting its coke in the U.S and non-U.S markets. With its musical tie into advertisements, it became a number one global brand in the world. All these aspects reflect the success of marketing plan developed and implemented by Coca Cola. In-depth analysis of market variables and trends had resulted into the successful implementation of marketing plan developed by Coca Cola (Kotler, 2003).
Marketing Plans: an Example of Failure
It is true that marketing plans if structured with critical approach, they will result into successful completion, at the same time, lacking in conducting market research required for a marketing plan may led to the failure of overall marketing plan (Spallina Fall, 2005). It is a case of a famous automobile company. Ford Motor Corporation (FMC) had developed marketing plan for Edsel that resulted into big failure for the company. After introducing, Edsel, management of the company had changed that also proved a big mismatch with the launched automobile.
Ford Edsel was rejected by the people due to its inability to fulfill their requirements (Dick, 2010).
This marketing plan of introducing Edsel was discontinued due to the rejection by people. Poor projection made by the top management of FMC had led to the failure of marketing plan related to the Edsel. Management of Ford Motor Company had not invested too much to salvage the program developed for Edsel that is also a reason of its failure. Market research was not performed perfectly by the management that resulted into the plan failure (Dicke, 2010).
Analysis of Examples
It is reflected from the above ...
Marketing plans background information and characteristics are examined.