Discussion 1 – Strategic Planning and Market Management
Wk 1 Discussion 1 – Strategic Planning and Market Management
Refer to this week’s learning materials. They are intended to help you engage effectively in this discussion.
Write a 250- to 300-word response to the following:
Summarize the importance of strategic planning in the current marketing environment.
Describe the processes that are driving current strategic planning.
Support your ideas with two examples from your professional practice or doctoral research.
Review your classmates’ posts and respond to at least 1 in a minimum of 150 words. Explain why you agree or disagree. Then, share an example from your professional experience to support your assertions.
Wk 1 Discussion 2 – Research Processes and Decision-Making
Post a total of 2 substantive responses over 2 separate days for full participation. This includes your initial post due Saturday and 1 reply to classmates or your faculty member by Monday.
Refer to this week’s learning materials. They are intended to help you engage effectively in this discussion.
Write a 250- to 300-word response to the following:
Explain why market research is vital to new product development.
Summarize methods companies use to acquire marketing data.
Recommend ways companies can support market research practices.
A Preface to Marketing Management, Ch. 1
Read Ch. 1, “Strategic Planning and the Marketing Management Process.”
A Preface to Marketing Management, Ch. 2
Read Ch. 2, “Marketing Research: Process and Systems for Decision Making.”
Marketing Environment and Marketing Functions
Adams, P., Bodas Freitas, I. M., & Fontana, R. (2019). Strategic orientation, innovation performance and the moderating influence of marketing management. Journal of Business Research, 97, 129-140.
Hughes, P., Hodgkinson, I. R., Morgan, R. E., Hughes, M., & Hughes, C.-H. L. (2020). Product-market planning capability and profitability. Industrial Marketing Management, 90, 370-379.
Strandvik, T., Holmlund, M., & Lähteenmäki, I. (2018). “One of these days, things are going to change!” How do you make sense of market disruption? Business Horizons, 61(3), 477-486.
Wk 1 – Marketing Plan: Product or Service
Assignment Content
By the end of this course, you are expected to have developed a clear, comprehensive, and cohesive 2,100- to 2,450-word integrated marketing plan for a product or service of your choosing.
The product or service must be identified this week as it will serve as the basis for the Weeks 3, 5, and 8 Summative Assessments.
The completed integrated marketing plan will include the following:
Executive summary
Research
Target markets
Product strategy
Pricing strategy
Communication and promotional strategy
Sales strategy
Distribution strategy
Sales forecast
Conclusion
Appendix
Note: Refer to the Marketing Plan Guidelines throughout the course.
Write a 350- to 525-word summary of the product or service you will research for your integrated marketing plan.
Describe the company that provides the product or service. Include the following:
Location
Corporation type (S, C, sole proprietor, or other)
Sales model (B2B, direct, etc.)
Market share
Describe the product or service provided by the company. Include the following:
Specific product or service
Target market
Success (share of market, profitability)
Answer preview to Discussion 1 – Strategic Planning and Market Management
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