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Using the fictional company “Linens” develop a marketing plan by

Using the fictional company “Linens” develop a marketing plan by following the below guidelines. The two new products to now be sold by Linens will be vests and shoes.

A.  Develop a proposal for your chosen business’s global strategic marketing plan in which you do the following:

1.  Identify two new products and/or services that the company can sell or offer to a global market.

 The 2 new products and/or services are appropriately identified. 

a.  Discuss three different methods you used to determine that there is both a need as well as an existing global market for these products and/or services.

 The provided discussion includes 3 different methods. The discussion is well reasoned and sufficiently supported. 

b.  Explain one competitive advantage that the company will gain by offering these new products and/or services to a global market.

 The provided explanation includes 1 competitive advantage that the company will gain. The explanation is complete (provides detail on how the company will gain the competitive advantage), clear, and appropriate. 

c.  Discuss two inherent risks associated with launching the new products and/or services to a global market and how to minimize these risks.

 The provided discussion includes 2 inherent risks associated with the launch and how to minimize the identified risks. The discussion is well reasoned and sufficiently supported. 

2.  Discuss the customer relationship management (CRM) software system you prescribe to track product and/or service inquiries and sales.

 The provided discussion of the customer relationship management system is adequate. The discussion is well reasoned and sufficiently supported. 

a.  Explain how the information generated by the CRM software will be used to continue to drive CRM practices and track sales in a global market.

 The provided explanation is complete (provides detail on how the information generated by the CRM software will be used), clear, and appropriate. 

3.  Discuss at least one distribution channel for the two new products and/or services.

 The provided discussion of at least 1 distribution channel is adequate. The discussion is well reasoned and sufficiently supported. 

a.  Analyze key considerations for entering a global market (e.g., regional trade alliances, agreements, environmental forces).

 The provided analysis of key considerations is sufficient. The analysis is well reasoned and sufficiently supported. 

b.  Analyze how the global supply chain may affect the product or service.

 The provided analysis of how the global supply chain may affect the product or service is sufficient. The analysis is well reasoned and sufficiently supported. 

4.  Discuss a major pricing strategy (i.e., cost plus pricing, competition-based pricing, break-even-based pricing, penetration-based pricing, premium pricing) aligned to your products and/or services’ position within the overall market strategy of the global marketplace.

 The provided discussion of a major pricing strategy is sufficient. The discussion is well reasoned and sufficiently supported. 

a.  Identify costs associated with developing and launching the new products and/or services.

 The costs associated with developing and launching the new products and/or services are appropriately identified. 

b.  Evaluate consumer acceptance of the price set for the new products and/or services.

 The provided evaluation of consumer acceptance is sufficient. The evaluation is well reasoned and sufficiently supported. 

c.  Evaluate competitor prices for similar products and/or services.

 The provided evaluation of competitor prices is sufficient. The evaluation is well reasoned and sufficiently supported. 

5.  Discuss the promotional strategy you will use to promote your products and/or services in a global market.

 The provided discussion of the promotional strategy is sufficient. The discussion is well reasoned and sufficiently supported. 

a.  Identify two mass media and two social media channels you would use to promote your new products and/or services in a global market.

 The discussion appropriately identifies 2 mass media and 2 social media channels. 

i.  Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, behavioral characteristics)

 The provided justification of why the media channels were chosen is sufficient. The justification is well reasoned and sufficiently supported. 

b.  Discuss two sales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.

 The provided discussion of 2 sales promotion activities is sufficient. The discussion is well reasoned and sufficiently supported.
 

B.  Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.

 The submission includes in-text citations for sources that are properly quoted, paraphrased, or summarized and a reference list that accurately identifies the author, date, title, and source location as available. 

C.  Demonstrate professional communication in the content and presentation of your submission.

 Content reflects attention to detail, is organized, and focuses on the main ideas as prescribed in the task or chosen by the candidate. Terminology is pertinent, is used correctly, and effectively conveys the intended meaning. Mechanics, usage, and grammar promote accurate interpretation and understanding. 

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