This is the third and final part of the marketing plan Portfolio Project that will be submitted in Module 7. Now that you have gained a better understanding of the market you are considering expanding to, it is time to develop a marketing mix to support your product launch. Part three of your plan should include all of the following areas:
9. Marketing Mix
The marketing mix refers to a company’s set of actions or methods for promoting its product in the marketplace. Price, Product, Promotion, and Place are the four Ps that make up a conventional marketing mix. A business may make lucrative marketing decisions at every level by identifying and arranging the elements of its marketing mix. The concept can also be applied within a global marketing context, and a strategy should be developed for each Ps with the international market in mind. This part of the process should take into consideration all of the other sections of the marketing plan you have developed so far. It is here where you will craft a plan to support the organization’s international expansion into this market. Your plan should include a strategy for each of the following:
Product/Service Strategy
Pricing Strategy
Distribution Strategy
Promotion Strategy
10. Measurement and Control
To ensure that you are on track, marketing plan controls compare actual results to your marketing plan. Evaluating to see whether enough leads are being created, ensuring that leads are resulting in sales, and checking specific promotions to see if they are working are all examples of controls employed.
Control is what tells you if you’re on the right track or if you’ve arrived at your target if an objective states where you want to be and the plan lays out a road map to your destination. Control, in a nutshell, entails measurement, assessment, and monitoring. What procedures and measures can you use to make sure your plan is on the right track?
11. Ethical Considerations
Customers, suppliers, and business partners should all benefit from ethical marketing decisions and efforts. Price wars, selective advertising, harmful environmental practices and deceitful marketing are all examples of unethical activity that can harm a company’s relationships and have serious implications. Consumers more than ever are preferring ethical businesses, which has turned a clear understanding of ethical considerations a critical component of any marketing plan. Please detail the ethical issues that arose as a result of your expansion into the country you chose.
12. Implementation and Recommendations
What resources are required to implement your plan. Any additional recommendations?
Attached is research that has already been done on the topic.
Your paper should be 3 pages in length and conform to APA guidelines. Include at least 3 scholarly or industry-specific references
Last Completed Projects
| topic title | academic level | Writer | delivered |
|---|