In this module SLP4, first develop action plans based on the marketing strategies developed in SLP3 and then evaluate marketing budget for the plans.
Format: Action Plan Outline (please use a table format, such as in the example given below)
|Title: The title of the action plan should describe the content.|
|Goal and Objective: What will this action plan accomplish? Which of the goals and objectives does this plan support? Here you need to go back to your Goals and Objectives section and make sure you develop at least one action plan for each of the goals and objectives you have previously outlined. In other words, you do not need to have seven goals in your Goals and Objectives section, a lesser number is acceptable if you develop more than one action plan for specific goals and objectives.|
|Target Market: At which market is this action plan aimed? Stick to your primary target market. Do not include any “new” target markets here.|
|Description of the Action Plan: What are the steps being taken to accomplish the objective? This section refers to the marketing mix activities deemed best to accomplish the objective. A rich, detailed description is required.|
|Who: Who is responsible for carrying out this program? (Name of person or job title)|
|Timing: When will the program take place? (Start and stop dates)|
|Budget and Estimated Profitability: How much will the program cost? Give details of the budgetary items for this action plan. Also, you need to include estimated profits and/or expected return on investment.|
|Measurement: How will the effectiveness of the action plan be measured? How will the organization know that it was successful? Measurement of effectiveness is always quantitative, and may include (depends on your objective) dollar sales, market share, expected customer satisfaction, advertising effectiveness measures, etc., in addition to a time line (monthly, quarterly, annually, etc.).|
Use the objective and task method and rank the action plans in order of importance. You also need to defend the budget request. The defense should be a strong persuasive argument with a clear rationale. Make sure that you include the profit potential as part of your justification. The defense should be for the total budget amount requested, not for individual action plans.
What We Learned
What did the process of writing a marketing plan teach you? How would you apply what you learned from this process to your current or future career?
SLP Assignment Expectations
Use the following outline to organize your paper. Note that the letters “a, b, c…” and the numbers “i, ii, iii, iv…” and “1, 2, 3, 4…” below are used to show the major issues you need to include in your paper, but should not be used to format your paper.
VIII. Marketing Implementation (2-6 pages)