Participate in an interactive simulated environment to make real-world marketing decisions, and then develop a formal marketing plan (15 pages).
Completion of this portfolio work project will help you understand the key components of a marketing plan.
The Vice President of Marketing at Allstar Brands has assigned you to the over-the-counter (OTC) cold medicine group for the company. Allstar Brands is one of five companies competing in the OTC cold medicine market. Using the PharmaSim simulation, you will make decisions regarding promotion, pricing, distribution, advertising, and product mix for Allstar Brand’s OTC cold medicine.
You will start out as a Brand Assistant and, if all goes well, will complete the simulation by making additional decisions at the level of Brand Manager at Allstar Brands. The decisions made regarding the OTC cold medicine market during the simulation will become the basis of a marketing plan.
Use the Marketing Plan Template [DOC] to develop your situation analysis, marketing strategy, and marketing mix plan elements. Be sure to interpret each figure and table used in your plan and to summarize the data results. Include the following in your marketing plan:
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:
Faculty will provide feedback as they were the recipient of your deliverables in the workplace, using the scoring guide. Refer to the assessment scoring guide to ensure you meet the grading criteria before submission.
Criteria | Non-performance | Basic | Proficient | Distinguished |
---|---|---|---|---|
Articulate the context of the business. | Does not describe the context of the business. | Describes but does not articulate the context of the business. | Articulates the context of the business. | Analyzes the context of the business by including key challenges. |
Evaluate the competitive environment of the business. | Does not describe the competitive environment of the business. | Describes but does not evaluate the competitive environment of the business. | Evaluates the competitive environment of the business. | Evaluates the competitive environment of the business and analyzes key changes in the environmental situation. |
Evaluate the effectiveness of marketing strategies. | Does not describe the effectiveness of marketing strategies. | Describes but does not evaluate the effectiveness of marketing strategies. | Evaluates the effectiveness of marketing strategies. | Evaluates the effectiveness of marketing strategies and summarizes relevant changes in strategy using appropriate rationale. |
Evaluate the marketing mix for a product. | Does not describe the marketing mix for a product. | Describes but does not evaluate the marketing mix for a product. | Evaluates the marketing mix for a product. | Evaluates the marketing mix for a product and analyzes key changes in the marketing mix. |
Analyze the expected effectiveness of social media and technology strategies. | Does not describe the expected effectiveness of social media and technology strategies. | Describes but does not analyze the expected effectiveness of social media and technology strategies. | Analyzes the expected effectiveness of social media and technology strategies. | Evaluates the expected effectiveness of social media and technology strategies and summarizes recommendations for each strategy using supporting references to substantiate expected results. |
Write coherently to support a central idea with correct grammar, usage, and mechanics as expected of a business professional. | Writing does not support a central idea. Does not use correct grammar, usage, and mechanics as expected of a business professional. | Writing supports an idea but is inconsistent and contains major errors of grammar, usage, and mechanics. | Writes coherently to support a central idea with correct grammar, usage, and mechanics as expected of a business professional. | Writing is coherent and consistently appropriate, using evidence to support a central idea and with correct grammar, usage, and mechanics as expected of a business professional. |