It is now time to apply the concepts learned in this unit; you will develop a brief strategic marketing plan for a new start-up business that operates in the business-to-business (B2B) sector. Your primary customer should be other businesses

It is now time to apply the concepts learned in this unit; you will develop a brief strategic marketing plan for a new start-up business that operates in the business-to-business (B2B) sector. Your primary customer should be other businesses. For your start-up, think about a for-profit business that you would hypothetically like to start someday.

Compile your strategic marketing plan following the guidelines below (feel free to use the headings below as your subheadings).

Company

What is the name of your company? (Be creative!)

What are the primary products or services your company will offer?

What is the value proposition?

Marketing Mix

Copy the table below to a Word document, and using complete sentences in a bulleted format, respond to each question or prompt for the marketing mix (7 Ps) component. Please note that some sections contain numerous questions and/or prompts.

Marketing Mix Component:

For your company:

Product

Describe the product or service, tangible or intangible, brand, variety, quality, features, benefits, and warranty.

Price

What is the pricing strategy: premium pricing, low-cost leader, or competitive pricing? What is the rationale for this pricing strategy, with a focus on the B2B customer?

Promotion

What is the communication strategy? What promotional/communication methods would you use? (Discuss at least five methods, including traditional and digital.) What is the rationale for using each of these? What percentage of the budget would you use for each method, and why?

Place

What is the intended distribution strategy location and coverage, and will you use indirect or direct distribution? What is the rationale for using this distribution strategy, both from an organizational standpoint and a customer standpoint?

People

Describe potential consumers, quality, skills and abilities of employees, management, labor pool, customer service, customer interaction, and customer relationship management.

Processes

Describe the delivery of service, response time, standardization, customization, and structure.

Physical evidence

Define the desired user experience, the store layout, facilities, recommendations, and referrals.

Target Market

After the table, respond to the following prompt in paragraph form: Who is your primary target market? (Remember, this must be other businesses to align with the B2B requirement.)

Industry and Competitive Analysis

Respond to the following prompts in paragraph form.

What are the trends in this industry? Include citations to support your research.

Who are the main competitors, and how are they differentiated from your company? Think about the product or service offerings, pricing, and distribution strategies that might differ.

What is your company’s potential competitive advantage?

Your submission should be at least three pages in length. References should include three sources (one can be the textbook). Adhere to APA Style when constructing this assignment, including in-text citations and references for all sources that are used. Please note that no abstract is needed.

Resources

The following resource(s) may help you with this assignment.

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