MKT 421 Week 2

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MKT 421 Week 2

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Individual Assignment

Marketing Mix Paper (700 1,050 words)

Using information from at least three different sources, prepare a 700 -1,050-word paper in which you describe the elements of the marketing mix (product, place, price, and promotion).

In addition, select an organization with which you are familiar and describe how each one of the four elements of the marketing mix impacts the development of the organizations marketing strategy and tactics.

Describe how each element is implemented. Be sure to specifically identify your selected organization and the industry in which it exists.

Remember to use APA format, including writing in the third person, an abstract, section headers, title page as well as properly citing all of your sources both in your narrative as well as on an end-of-paper references list. No references should appear on your reference list if the source is also not cited within your paper

Learning Team

Marketing Plan: Phase 1 (1,400 - 1,750 words)

Create a new product or service for an existing organization. This product or service will be the basis for your Marketing Plan Paper. Be sure to obtain your instructors approval of your product or service before beginning this project.

Prepare a 1,400-1,750-word paper to include the following:

An overview of the existing organization (history, years in existence, overview of current industries and product lines, last years annual sales and any other relevant information the team wants to identify).

A description of the new product or service.

An explanation of the importance of marketing to your selected organizations success.

A SWOT(Strengths, Weaknesses, Opportunities, Threats) analysis on the new product or service.

The marketing research approach (quantitative and qualitative methods) you would use to develop the marketing strategy and tactics for this new product or service.

Remember to use APA format

Discussion Questions

Week 2

What is marketing research? How has the Internet affected marketing research? As a part of your answer, address time, cost, approaches, and validity. Why is marketing research important to developing marketing strategy?

What is competitive intelligence? What is the importance of competitive intelligence and analysis in modern-day marketing? How can a companys marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors?

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