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The Marketplace Business Simulation The Marketing Plan

The Marketplace Business Simulation The Marketing Plan MAR 4803 Dr. Axel Stock University of Central Florida Overview Group assignment worth 15 % of your grade Due by 6 pm on Thursday, March 23 Please note the date change! Period 5 decisions and peer evaluation due at the same time

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The Marketplace Business Simulation The Marketing Plan

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  1. The Marketplace Business SimulationThe Marketing Plan MAR 4803 Dr. Axel Stock University of Central Florida

  2. Overview • Group assignment worth 15 % of your grade • Due by 6 pm on Thursday, March 23 • Please note the date change! • Period 5 decisions and peer evaluation due at the same time • E-mail Word document to sbaugher4@gmail.com • A sample Marketing Plan can be found on the Website (Assigned Readings, Wed, Jan 11)

  3. Overview • A separate decision memo for period 5 does not have to be submitted • Every student needs to e-mail a peer evaluation form to sbaugher4@gmail.com • form can be found on Website • Evaluation should reflect team members’ contribution to the team project including the Marketing Plan • Please indicate • Section No. • Game No. • Team No. (check WebCT if in doubt)

  4. Format • Font size: 12 pt. • Font style: Times New Roman • Line Spacing: 1.5 • Margins: 1 inch each

  5. Expectations • Marketing plan describes the situation in quarter 5 and is forward looking to period 8 • The plan should be well written and links between different parts should be established (cite when appropriate) • Back up your analysis with quantitative information • Illustrate your analysis with graphs and diagrams if possible • Create appendix and cite it in the main body

  6. Marketing Plan - Structure • Executive Summary • Situation Analysis • SWOT Analysis • Marketing Goals and Objectives • Marketing Strategies • Marketing Implementation* • Evaluation and Control* * Not required in paper

  7. Executive Summary • The executive summary is a summary of your Marketing Plan (thus it should be the last element written) • Provides an overview so the reader can quickly identify key issues or concerns related to the company and its Marketing Strategy • Only 1-2 pages long

  8. Situation analysis • Summarizes analyzes all pertinent information concerning YOUR business, the 5 C’s • Customers • Company • Competitors • Context • Collaborators • See class notes

  9. SWOT Analysis • Describe strengths, weaknesses, opportunities and threats • Discuss briefly how you plan to turnweaknesses into strengths and threats into opportunities (if applicable)

  10. Marketing Goals and Objectives • Outline your main goals and objectives for quarters 6-8 • Goals need to be • Measurable (!) • Time bound • Specific • Actionable

  11. Marketing Strategy • Discuss your Marketing Mix (changes) that you anticipate to make during quarters 5-8 • Cover all the 4 Ps • Consider and describe Pros and Cons of alternative strategies • Consider and discuss competitive responses

  12. Suggested group strategy for this project (1) • Develop Situation analysis • All relevant information (period 4 results) is available at 6 pm on Friday, March 3 • Each team member develops one section individually • Each team member analyzes the results from period 4 and develops suggestions for changes (for her core competency) • First team meeting

  13. Suggested group strategy for this project (2) • During team meeting the team finalizes decisions for period 5 • SWOT analysis is conducted • Goals and Objectives are finalized • During team meeting the team outlines and discusses future strategies (period 6 - 8) • Each team member develops one section of Marketing strategy for the Marketing Plan based on the discussion during the team meeting • Targeting, Product, Price, Promotion, Distribution • Second group meeting • Executive summary is written and document put together.

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