Business Plan: The Marketing Plan

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Business Plan: The Marketing Plan
Research the environment in your industry.
In the team area, the component manager should collaborate with his or her team to ensure everyone is on the same page. In the marketing plan, you will focus on the four Ps (product, price, place, and promotion). Be sure you understand the strategic direction of the firm as you are developing these four Ps by posting in the Team Discussion area and soliciting feedback. Remember that primary research is required for the Marketing Plan. See the lecture for details.
Complete the Marketing Plan.
After working with your teammates, the component manager will develop your Marketing Plan (described in detail in this unit’s lecture). Use the rubric for the Written Plan to organize your information and to ensure that you have met the course requirements for this section of your business plan.
Is the idea still viable?
Just as you asked when you finished the environmental analysis, when you completed your marketing research, and when you wrote the marketing plan, you have to ask, “Is this idea still viable?” At first look, it may have been a great idea, but as you develop an understanding of the market, your idea may not be feasible. Are your prices competitive? Does your target market make sense?
Take time to talk with your team in your team meetings and in your Team Discussion area about whether this idea is still a good one that can be sold to investors. If you find that the idea is not viable, work with your team to modify it so that it will be profitable.
Collaborate on your Business Plan by posting to your Team Discussion area.
This collaboration will contribute toward your participation grade in Week 8.
Submit your Marketing Plan.
Team Leaders
You will continue to lead the team discussion and ensure that your team is on schedule. While you are not responsible for the individual component this module requires, you will still need to lead the chats and ensure the consistency of research and plan development.
Component Managers
Coordinate with the Team to write and review this section. Remember, it is YOUR responsibility to make sure the submission conforms to assignment requirements.

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