Business Finance
Marketing Plan - Part II

Question Description

I’m studying for my Marketing class and need an explanation.

Final Project Part II

Complete the Marketing Plan Exercises at the end of each assigned chapter. These exercises will be the building blocks for your final project, a marketing plan. You will do each exercise on the same enterprise. Your enterprise strategy may be: 1) real, emerging, or imaginary; 2) product or service oriented; and 3) for profit or non-profit. The target market may be anywhere in the life cycle from innovation to maturity. Read each Marketing Plan Exercise description in its entirety, below is a brief description of what is required.

·  Chapter 4: Conduct macro-level market and industry analyses of the market offering on which your plan is based.

For the market offering on which your marketing plan or consulting project is based on, use Internet and other available secondary resources to conduct macro-level market and industry analyses.  Your analyses should include a macro trend analysis encompassing all relevant macro trend categories and should uncover quantitative data that provides evidence of the size and growth rate of the overall market, as well as qualitative data regarding the five forces.  You should also identify, if you can, the few critical success factors that apply in your industry. 

·  Chapter 5: Prepare a detailed plan for conducting the primary research required to complete your final marketing plan.

Prepare a detailed plan for conducting the primary research required to complete your project.  The research plan needs to do three things:

1.   Precisely spell out the research objectives the research is intended to meet.

2.  Design the research to get you there.  Identify your methods, your sample, and any statistics (means, etc.) you will employ.  Prepare drafts of questionnaires, guides for focus group sessions or in-depth interviews, plans for how you will conduct observational research, etc.

3.  Describe how the combination of your secondary research and your planned primary research will lead to your estimate of target market size and your sales forecast for your marketing plan.  Precisely spell out the mathematics that will do this, connecting it to specific secondary data or specific answers to questions or observations from your primary data. 

Your research design should clearly identify and satisfy your research objectives, and appropriate qualitative and/or quantitative research should be competently designed. 

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Final Answer

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University of Maryland

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