IG 005 Walden University Sales Forecast for Ford Focus Electric Excel Task

IG005 Marketing Strategy

This Assessment requires submission of two (2) files. Save your files as follows:

Save Parts I – III and V as IG005_PartsI_III_V_

 Save Part IV (a spreadsheet) as IG005_PartIV

Part 1 Executive Summary

Summarize the most important aspects of the proposed plan including a description of the product or service and how it is differentiated in the marketplace. Also, be sure to state what the target market looks like as well as the sales potential for the plan and , if possible, the return on the marketing investment (ROI).

Part 11 External Assessment

This part is comprised of several components. Before completing each component, describe the general situational context you have chosen for this Work Product (e.g., Company X is in its second year of operation in the mechanical industry, providing solutions in x, y, and z). Key elements to mention about the company are the “what” and “how.” Part 2 should include the following:

Market Opportunity

• Describe the market for the product you are working with.
• Provide an estimation of market size for years one, two, and three.

SWOT or PESTE Analysis

• In tabular form with narrative, describe the product’s strengths, weaknesses, opportunities, and threats (SWOT). If appropriate, explain any political, economic, social, technological, or environmental (PESTE) risks associated with the product.

Competition Using Porter’s Five Competitive Forces Model

• Who will you compete with and why? Describe the risks of competing with other brands using Porter’s model.

Global Markets

• Using Porter’s model, analyze the attractiveness and risk of at least one non-domestic market (of your choice).

 Part 111

The marketing strategy should include the following:

Mission, Marketing Objectives, and Financial Objectives

Describe the company’s mission, marketing objectives, and financial objectives.

Target Market

• Detail market demographics and other relevant information.

Positioning

• Provide detail on how the product will be differentiated in the minds of prospective purchases/customers.

Marketing Mix

• Product Strategy
  • If you are creating a new product or significantly modifying an existing one, indicate whether your product is competing with others within the company. For existing products, summarize the current product offering.
• Promotional Strategy
  • Explain the use of traditional and digital marketing tactics.
• Pricing strategy
  • What is price?
  • How does it compare to competition?
• Distribution Strategy
  • How is the product/service to be distributed?
  • Explain the rationale for the strategy.

Contingency Planning

• Considering a changing marketplace driven by technology, describe the implications of altering one marketing mix variable on the entire strategy (e.g., move from traditional bricks and mortar to online retailing) including competitive response, customer base, marketing mix considerations, and core competencies of the firm.

Part 1V

Summarize the company’s budget, schedule and monitoring in a spreadsheet, and include comments.

Sales Forecast

• Include a breakdown by product, segment, and region, if applicable.

Expense Forecast

• Include a breakdown by partner, segment, and region, if applicable.

Marketing Expenditures Alignment With Strategy and Tactics

• List strategy/tactics along with related expenditures. Explain the return on investment for marketing expenditures.

Break-Even Analysis

• Create a “Cost of Goods” estimate and determine the revenue required for break even.

Part V

What measures will you use to determine the progress and success of the Plan? Explain why each is important.

Establish a Timeline (Including milestones integrated with the KPIs)

• Create a set of at least four KPIs and a 12-month timeline.

Post Sale Customer Feedback

• Describe customer feedback mechanism to assure satisfaction and the minimization of product performance issues.

Create a Performance Dashboard

• Using a spreadsheet, provide a Performance Dashboard comprised of the timeline and the KPIs.