Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.) [VitalSource Bookshelf version]. Upper Saddle River, NJ: Pearson. Retrieved from https://online.vitalsource.com/#/books/9781323591512
Select an existing company, and think about applying the political, economic, social, and technological (PEST) analysis to this company. Discuss with your fellow students how using the PEST tool best assists marketers in analyzing the external environment in which they are operating. Review the Unit II Lesson in order to better understand the PEST analysis tool. Please bring forward a company that fellow students have not previously discussed.
Marketing Plan: Part I
Throughout this course, you will compile a comprehensive marketing plan using one of the product/service scenarios listed below. (Note: You will use the same scenario throughout the course.) This scenario will be the basis of your start-up company and will be the catalyst for the three parts of the marketing plan that you will compose in Units II (Part I), IV (Part II), and VII (Part III). The company that you choose to submit a marketing plan for is a fictional start-up company (not an existing company).
Scenarios for your start-up company are explained below. (Note that these descriptions are basic, and you will need to be creative and develop the business idea/model for your selected scenario.)
Travel Supreme is a start-up travel organization with the mission of assisting customers with travel planning. While today’s customers enjoy developing their vacations themselves, Travel Supreme believes there are travel services that are still in demand. Initial research needs to develop what types of travel services are in demand by this target market.
IT to Seniors is a start-up company interested in ensuring a positive experience for seniors (65 and older) with respect to the use of technological gadgets, software, the Internet, and/or any additional aspects of technology. Initial research will provide an idea of the business model that would be in most demand for this target market.
Galaxy Restaurant is a start-up restaurant developed with the idea of providing the customer with a unique dining experience. This could extend from the product offering, service offering, atmosphere, or a host of other unique experiences. Initial research will provide an idea of what this unique dining experience would look like.
Women on the Go is a startup company targeted at women who need assistance with the selection and purchasing of their clothing/accessories. This service is aimed at the more affluent customer who simply does not have the time and/or knowledge to dress to the business or social setting that they are expected to fulfill. Initial research will provide insight into the types of services that this particular target market would be interested in.
Remember to choose one of the aforementioned scenarios to use for the entire course. Submissions will be completed in Units II, IV, and VII and, together, will comprise a full marketing plan. While this is a cumulative marketing plan, submit only the designated unit’s work.
This unit’s submission should consist of the items listed below.
1. Include an introduction/overview of the company.
o This section of the marketing plan should introduce the company and business model along with a brief description of the products/services.
2. Discuss market research strategies.
o This section of the marketing plan should discuss the research strategies that will be used by your company to understand the target market(s), industry, competition, and/or any other aspects of the company that will provide valuable insight into profitable operations.
3. Describe the macro environment through a political, economic, social, and technological (PEST) analysis.
o In this section, you will compile a PEST analysis of your company. You will analyze how the changes in the macro environment as described in the PEST will impact the company and, specifically, the marketing decisions.
Ensure you provide an introduction for this assignment that is engaging and provides a clear background to the purpose of the assignment. The format of the submission should be in essay format using subheadings. Use APA format. Additionally, you need to include a minimum of five sources, three of which must be peer-reviewed, academic sources that are no more than 5 years old. The submission should be a minimum of three pages in length (not counting the title and reference pages).
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