Presenting the Marketing Plan
Need help with my Accounting question – Im studying for my class.
Now that Michelle has all of the pieces of her marketing plan in place, the board is ready to see the final plan. She is apprehensive about this because the board needs to approve the plan for it to move forward. It is imperative that the plan addresses all of the marketing issues discussed to this point, and that it also includes a discussion of how MM will measure the success of the plan after it has been implemented.
Michelle is happy with how the plan is being put into place. The date and time for the final board meeting has been set when she calls you.
How will we know if the new product launch is a success? she asks. How will we know if what you have suggested really worked? Since I started this company as an entrepreneur years ago, I feel like everything that happens here is my fault or my responsibility. Does that make sense?
Youve been so supportive to me during this whole process, you say. Leave it to me. Ill think about what youve said over the long weekend and Ill be ready to sit down and discuss the details as I prepare the final draft of the plan.
Based on your original goals and the plan you are putting into place, what will you tell Michelle?
- What will you measure to determine whether or not your new product plan for MM is a success?
- What about a contingency plan?
- Do you need to make recommendations for MM if things do not go the way you hope and expect them to?
Combine the elements of promotional strategy into the marketing mix to make a comprehensive marketing plan.
Demonstrate competence through completion of a comprehensive business/marketing plan.