Herzing University Principles of Marketing Project Paper
Before you start making decisions in NewShoes, it is important to develop a strategic plan. Start by writing a mission statement, in which you communicate a vision for the company. Then identify measurable goals that your company should achieve to support your mission. Finally, plan the strategy you will use to meet those goals. Your strategy should spell out plans to enter markets, marketing mix for each market, and product development budgets. Use the following outline for successful completion of the assignment. Please keep in mind that you are writing an APA formatted paper with a Title page, body, and Reference page. Think of this as a research paper. You should take time to research your target market, the athletic shoe industry, and key business concepts in order to address the specific questions asked in this assignment.
- Mission Statement
- Who Does Your Company Serve?
- How Large is the Target Market?
- What is the Scope of the Product Line and Services Offered?
- What Effect Does your Business Have on the Consumers?
- How do you want the world to think of you?
- Measurable Goals
- Return on Sales in a Period of Time
- Market Share Objective
- Customer Satisfaction
- Strategy to Complete the Goals
- How do you plan to enter each marketplace?
- Share the Marketing Mix (Product, Price, Place, and Promotion) for each of the markets?
- What is the product development budget for each market?