PART 1Diversification Matrix Paper (pgs. 229 - 230)750- 1250 wordsThe purpose of this assignment is two-fold.First, you are to submit a paper in proper APA format using the tools I have posted in the Announcement titled "Proper APA Formatting". When in doubt about your formatting - ask me please! I will provide you with significant instructor feedback on this deliverable to help you with your Marketing Plan submission due. A properly APA formatted paper enhances the readability and credibility of the work you submit (and earns you a higher grade in this course :-)). Ask questions where you may not understand my in-text feedback. Read the course syllabus and the rubric for the assignment for the rest of the deliverables for your written work.Secondly, this is a great jumping off point for your Marketing Plan Project product consideration and approach. Read the short section at the bottom of page 229 and page 230 about the Diversification (also known as the "product-market opportunity matrix") Matrix based on the famous product marketing strategy making tool developed by Ansoff in the late 1950's that still has great value and is used today. I found it interesting that Ansoff did not even get a nod from the textbook authors :-)The Paper:While meeting the required deliverables as outlined above, this is where you will be identifying the product you plan to use in your Marketing Plan Project paper this semester. Think small here! By "think small" I mean you will have a company that creates a product you believe there many be a demand for by consumers. Do not use any major or existing labels (Nike, Chanel, Goodyear, Ford, Revlon, etc.) for your company. Your company can be Clarissa's Chocolate Cookies, Ernie's Earbuds, Amber's Artistic Concrete, etc.) and you have this must have new product as one of your offerings. Thinking small means that Clarissa does not have a new line of chocolate cookies (there are many types of chocolate cookies) but instead one that tastes like sardines (YUK!) or Ernie's made a new type of earbud that changes colors to match what you are wearing, rather than an entire line of earbuds. Get the idea?Use the product in this paper to identify a Product-Market strategy. Consider and review in your paper the other three strategies and state why you chose the one you did. This will require additional research so do not just wait until Tuesday evening and then slap this paper together. Remember in addition to my APA feedback, I am looking for your product and approach to marketing it. In your research, do not use other students Prezi's or student papers on Ansoff, Diversification Matrix, or other Marketing Plans. RubricDiversification Matrix Rubric (1)CriteriaRatingsPtsThis criterion is linked to a Learning OutcomeContent70 ptsStudent submission addresses each of the required deliverables as outlined in the assignment with high quality content and analysis. Additional research has been undertaken, with at least three high quality academic sources properly cited.55 ptsStudent submission addresses most of the required deliverables as outlined in the assignment with quality content and analysis. Additional research may have been undertaken but is not properly cited. or did not meet the minimum number of sources.45 ptsStudent submission addresses some of the required deliverables as outlined in the assignment with limited in-depth content and analysis. Additional research has not been undertaken or was not cited.35 ptsStudent submission does not address the required deliverables accurately or at all.70 ptsThis criterion is linked to a Learning OutcomeWord Count Parameter10 ptsStudent submission meets the required word count parameter of 750-1250 words.7 ptsStudent submission exceeds the 1250 word maximum parameter for the assignment.5 ptsStudent submission is below the minimum word count parameter of 750 words.10 ptsThis criterion is linked to a Learning OutcomeProper APA Formatting10 ptsStudent submission meets all of the required deliverables for proper APA formatting including font type and size, line and paragraph spacing, indentations, page layouts, citiations, word usage, spelling, grammar, etc.7 ptsStudent submission meets most of the required deliverables for proper APA formatting including font type and size, line and paragraph spacing, indentations, page layouts, citiations, word usage, spelling, grammar, etc.5 ptsStudent submission meets some of the required deliverables for proper APA formatting including font type and size, line and paragraph spacing, indentations, page layouts, citiations, word usage, spelling, grammar, etc.3 ptsStudent submission is severely lacking in proper APA formatting or has not cited non-original material.10 ptsThis criterion is linked to a Learning OutcomeGrammar, punctuation, and appropriate level academic writing.10 ptsSubmission is free of errors in grammar, punctuation, spelling, etc and written at appropriate academic level for the targeted audience.7 ptsSubmission contains less than 3 errors in grammar, punctuation, spelling, etc and written at appropriate academic level for the targeted audience.5 ptsSubmission contains more than 3 errors in grammar, punctuation, spelling, etc and/or not written at appropriate academic level for the targeted audience.10 ptsTotal Points: 100PART 2Marketing Plan Project OverviewNOTE: Have fun with this project, be creative in the product you choose! Create a 10+ slide (plus title reference slide) Microsoft® PowerPoint® presentation with comprehensive detailed speaker’s notes (ask me if you do not know how to include with your PowerPoint document) or a Written paper of 7 to 14 pages (plus title and reference page) with proper APA formatting, that clearly identifies your marketing plan. Include at least FOUR outside academic resources besides the textbook.Use the outline below and the material in appropriate textbook chapters to aid you in your plan creation. Note that each section below needs to contain depth of research and material for the highest point allocation considerations. Also thoroughly review the grading rubric to ensure you meet all of the technical deliverables (the list is extensive). Inclusion of each of the below deliverables will greatly enhance your project grade.Company DescriptionBusiness MissionMarketing ObjectiveSituation AnalysisIndustry AnalysisSWOT AnalysisMarketing StrategyTarget Market StrategyMarketing MixProductPlacement (Distribution)PromotionPriceImplementation, Evaluation, and ControlMarketing ResearchOrganizational StructureImplementation TimetableSummaryAt the conclusion of this project, you will have a good idea of how to develop a basic Marketing Plan regardless of the product or service you choose, typical resources to utilize, and confirm whether or not the target market is a viable one, and why. Do not try to accomplish a well-designed Marketing Plan in the last two weeks before the due date as high quality is the expectation and this project accounts for 15% of your course grade.RubricMarketing Plan Rubric Spring 2021CriteriaRatingsPtsThis criterion is linked to a Learning OutcomeContent / Development100 ptsAll key elements of the assignment are covered in a substantive way. • Submission consists of a minimum of 7 to 14 pages (10+ PowerPoint slides with comprehensive speaker notes) appropriate for the audience excluding cover page and reference pages. • Each of the deliverables are included and substantively addressed. • The content is comprehensive, accurate, and /or persuasive. • Text is written at the appropriate academic level. • Font size is used appropriately. The submission develops a central theme or idea, directed toward the appropriate audience. The submission links theory to relevant examples of current experience and industry practice and uses the vocabulary of the theory correctly. Major points are stated clearly; are supported by specific details, examples, or analysis; and are organized logically. • Four references are utilized and cited in-text, in addition to the textbook and contains a properly formatted reference page.85 ptsMost key elements of the assignment are covered in a substantive way. • Submission consists of 7 to 14 pages, a(10+ PowerPoint slides with speaker notes) appropriate for the audience excluding cover table of contents, and reference pages. • Most of the deliverables are included and addressed. • Cover page is included. The content is relatively comprehensive, accurate, and /or persuasive. • Text is written at the appropriate academic level. • Font size and type are per APA guidelines. The submission attempts to develop a central theme or idea, directed toward the appropriate audience. The submission attempts to link theory to relevant examples of current experience and industry practice and uses the vocabulary of the theory correctly. Major points are stated; utilizes and cites three references in addition to the textbook and contains a properly formatted reference page.70 ptsSome of the key elements of the assignment are covered in a substantive way. • Submission consists of less than 7 pages, excluding cover and reference pages (less than 10 PowerPoint Slides with minimal speaker notes) . • Some of the deliverables are included and addressed. • Cover page may not be included. The content is not comprehensive, inaccurate, and /or is not persuasive. • Text is written below the appropriate academic level. • Font size and/or type does not meet APA guidelines. The submission attempts to develop a central theme or idea, directed toward the appropriate audience but misses the mark. The submission does not attempt to link theory to relevant examples of current experience and industry practice and uses the vocabulary of the theory correctly. Utilizes and cites less than three references in addition to the textbook and contains an improperly formatted reference page.60 ptsFew of the key elements of the assignment are covered. • Submission may consist of more than 14 pages. • Few of the deliverables are included and addressed. • Cover page may not be included or poorly formatted. The content is vague and lacking depth, inaccurate, and /or is not persuasive. • Text is written below the appropriate academic level. • Font size and/or type does not meet APA guidelines. The submission does not develop a central theme or idea. The submission does not attempt to link theory to relevant examples of current experience and industry practice or use the vocabulary of the theory correctly. Uses only the textbook as a source and contains an improperly formatted reference page.100 ptsThis criterion is linked to a Learning OutcomeReadability and Style20 ptsStudent submission contains paragraph and topic transitions that are logical and maintain the flow throughout the paper, the tone is appropriate to the content and assignment, and sentences are clear and concise.17 ptsStudent submission contains paragraph and topic transitions that are logical in most cases and maintain the flow throughout the paper, the tone is generally appropriate to the content and assignment, and sentences are clear and concise in most cases.15 ptsStudent submission contains paragraph and topic transitions that are logical in some cases and maintain the flow throughout the paper, the tone is sometimes appropriate to the content and assignment, and sentences are clear and concise in some cases.12 ptsStudent submission is lacking in logical paragraph and topic tranisitions. Flow is not maintained and readability isoften disjointed. Sentences lack clarity in many cases.20 ptsThis criterion is linked to a Learning OutcomeMechanics30 ptsStudent submission contains proper citations for original works within the body of the paper that meet APA guidelines, the submission is written with proper headings, font styles, and spacing; rules of grammar, usage, and punctuation are followed, and free of spelling errors.27 ptsStudent submission contains citations for most original works within the body of the paper that meet APA guidelines, the submission is written with proper headings, font styles, and spacing; most rules of grammar, usage, and punctuation are followed, and two or less spelling errors.23 ptsStudent submission lacks citations for most original works within the body of the paper that meet APA guidelines, the submission is written with some proper headings, font styles, and spacing; some rules of grammar, usage, and punctuation are followed, and three to five spelling errors.18 ptsStudent submission lacks proper citations for original works within the body of the paper that meet APA guidelines, the submission is not written with proper headings, font styles, and spacing; most rules of grammar, usage, and punctuation are not followed, and more than five spelling errors.30 ptsTotal Points: 150