Marketing Plan Project: Phase 3
You are continuing to develop your marketing plan project for final delivery in Unit VII. In this portion of the project, you will be addressing the financials, forecasting, budgeting, scheduling, and operations processes for the company you chose in Unit III to develop its marketing plan.
If the section added in Unit IV represented the heart of the marketing plan, then the section you will add in this unit represents the guidance on how you will use the available environmental and strategic resources to implement and control the marketing plan. Now is the time to be specific about how many products you will sell and at what price. You will need to determine the costs associated with those products. Next, you will need to judge if the product costs are reasonable and in line with industry cost averages. Finally, you are to analyze and determine whether your profits are reasonable in comparison with industry averages.
In this assignment, you will research, analyze, and create the marketing plan sections described below.
- Financials: Create the appropriate forecasts and detailed budgets for the completed sections so far. These detailed forecasts and budgets enable the firm and associated departments involved to see how resources and marketing expenditures will be allocated to each of the activities within the marketing section. In addition, this will also impact the company’s scheduling and operations.
Products can only produce revenue once they and their marketing campaigns are rolled out. Not everything should begin on the beginning of the company’s fiscal year.
Your assignment will be a minimum of three pages in length. Ensure that you identify this section with a heading in your assignment. You should include a chart showing your budget expenditures, and this can be created using Excel. There are numerous videos online to assist you in creating and developing budget expenditures using Excel. You may contact the Math Center for assistance, if needed. Once you have entered the budget expenditures into Excel, you can copy the data from Excel and paste the information into your Word document under the Financials section of your marketing plan.
You should reference at least three sources to support this section of your marketing plan. Your sources should be from the CSU Online Library, but you may also include outside sources as well. All sources used, including the textbook, must be referenced and follow APA formatting, and quoted or paraphrased material must have accompanying in-text citations.
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