Expert answer:Fix and executive summary
Expert answer:The project that need to fix is in the file. First of all you need to review the whole project and there are several points there need to fix. After that you need to write a executive summary for the paper. Then fix all the format, include the table of content, every title subtitle, citation… The requirement is also attached make sure you see it first and then fix it. The requirement which is bold is very very important.
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Group Project
An effective way to help students learn about marketing management is the
actual creation of a marketing plan for a product or service. This project is
designed to accomplish such a task. The class will be divided into groups; each
team will be assigned a product or a service that the team will develop a thorough
and detailed marketing plan for.
Marketing Plan Written Format:
I.
Cover Page: Should include: Project name, name of team members,
course title and number, date, and name of instructor.
II.
Executive Summary (Individual Effort): Contains a summary of each
section of the report (every individual member has to submit his/her own
version of the summer, and it is NOT based on just the part they covered;
it is their perspective on the project as a whole).
III.
Table of Contents: Should include titles, subtitles, appendices, figures,
tables, etc., with page numbers.
IV.
Product Statement: That’s where you describe the product, what is it,
what’s special about it, the packaging, the style…
V.
Situation/Environmental Analysis
A. Industry Situation: looks at the current situation of the industry,
including size, trends, outlook (expanding, stagnant, contracting)
B. Competitive Analysis
C. Technological Forces
D. Economic Situation
E. Political, Legal, and Regulatory Factors
F. Cultural/Societal/ Demographic Trends
VI.
SWOT Analysis:
A. Strengths
B. Weaknesses
C. Opportunities
D. Threats
VII.
Primary and Secondary Research
A. Quantitative Research: Consumer Survey
B. Secondary Data: Published material related to your industry or the
product
VIII.
Marketing Strategies
A. Target Market Definition (Must use demographics and one of the
following
segmentation
bases
for
each
market:
geographic,
psychographic, benefits sought, usage)
B. Strategy Statement
1. Image and Market Position
2. Value Proposition XI. Marketing Mix
There is no limit as to the number of pages to be submitted; completeness of your
marketing plan is what is important for your overall grade.
Some “hints” to use in writing an Executive Cover Memo:
Do not use terms such as “increase,” “decrease,” implement as soon as
possible,” and other non-specific and non-analytical language; use very
specific language when preparing your case analyses.
Do not use transitory phrases in your report.
Cite numbers ($ or % increase; market share growth) and attach all
pertinent documents to your report.
Do not just state, “Exhibit A shows our growth rate” without first stating
the growth rate in your paragraph.
Before submitting your document, ask yourself the question, “Does this
memo contain all of the information my boss needs to make a decision
in my favor?” If not, revise your memo.
Marketing Plan: SVSU
Online MBA Program
0
Table of Contents
Product Statement ……………………………………………………………………………………………………………………… 2
Situational/Environmental Analysis ……………………………………………………………………………………………… 3
Industry Situation …………………………………………………………………………………………………………………….. 3
Competitive Analysis ………………………………………………………………………………………………………………… 4
Technological Forces ………………………………………………………………………………………………………………… 5
Economic Situation ………………………………………………………………………………………………………………….. 5
Political, Laws, Regulation Factors ……………………………………………………………………………………………… 9
Cultural, Societal, Demographic Trends ………………………………………………………………………………………. 9
SWOT Analysis ………………………………………………………………………………………………………………………….. 11
Strengths ………………………………………………………………………………………………………………………………. 11
Weaknesses…………………………………………………………………………………………………………………………… 12
Opportunities ………………………………………………………………………………………………………………………… 13
Threats …………………………………………………………………………………………………………………………………. 14
Secondary Research ………………………………………………………………………………………………………………….. 15
Importance Of Online MBA……………………………………………………………………………………………………… 15
The Effectiveness of an Online MBA Program in Meeting Midcareer Student Expectations …………….. 17
Marketing Strategies …………………………………………………………………………………………………………………. 18
Target Market ……………………………………………………………………………………………………………………….. 18
Strategy Statement ………………………………………………………………………………………………………………… 21
Image and Market Position ……………………………………………………………………………………………… 22
Value Proposition…………………………………………………………………………………………………………… 23
Marketing Mix ………………………………………………………………………………………………………………………….. 24
Prices ……………………………………………………………………………………………………………………………………. 24
Product …………………………………………………………………………………………………………………………………. 25
Promotion …………………………………………………………………………………………………………………………….. 26
Place …………………………………………………………………………………………………………………………………….. 29
Works Cited ……………………………………………………………………………………………………………………………… 30
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Product Statement
With many business professionals seeking to move up in the ranks of corporate America,
the Saginaw Valley State University’s online MBA is an invaluable asset. Receiving its business
accreditation via the reputable Association to Advance Collegiate Schools of Business
(AACSB)-International, the College of Business and Management at SVSU offers this fully
online 39-credit hour program at a price of 536 dollars per credit hour, making the aggregate cost
of tuition an affordable $20,911 (Saginaw Valley State University). By being offered in a
business school endorsed by AACSB, this course has a challenging but relevant curriculum and
offers career and educational opportunities that are hardly found in other business courses. The
program is administered by seasoned, caring and supportive educators with relevant business
connections and elite international accreditations. In that, the SVSU online MBA brings real
symbolic value and an important network to students.
SVSU online MBA has been designed with flexibility in mind, and students can choose
to take all their courses online, or a combination of online and on-campus modes. Students have
the leeway to set their own schedules, with course loads that allow them a slower pace if need be,
or a faster completion pace (SVSU). In this online MBA, graduate students will be required to
complete 31 core credits and three electives. Most importantly, this online MBA provides
familiarity with all the components that form a business, including marketing, sales, finance,
accounting, and the day-to-day administration, which are all essential when addressing
organizational issues, and developing a real-world strategy.
Corporate versatility is another notable benefit of the SVSU online MBA program. In
that, the program equips students with relevant knowledge and skills requisite to start their own
businesses or be involved in international business. The program prepares students to solve
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numerous community problems from the helm of non-profit organizations, or make millions
while developing strategies for the world largest companies (SVSU). In essence, the
accreditation, versatility, flexibility, mobility, and return on investment associated with the
SVSU’s online MBA program make it a must-have for all aspiring business professionals.
Situation/Environmental Analysis
Industry Situation
The overall outlook for the Masters of Business Administration (MBA) at Saginaw
Valley State University (SVSU) is positive. Based on a study by InsideHigherEd.com,
enrollment for first time graduate students reached three and a half percent in late 2015, the
higher education and graduate studies field is expanding. This increase in enrollment is the
highest it has been since the Great Recession. This is important to note as it shows that more
students will be looking and comparing schools now than there had been previously. Of those
students about 59% of awarded Master’s degrees were earned by women. This study also
detailed the trends in total graduate enrollment from Fall 2004 to 2014. Although the total
number of students attending graduate programs is lower than its highest peak in 2009,
enrollment is steadily increasing. Additionally, total enrollment by graduate major shows that
business related degrees attract the most students, both international and domestic, it is the third
largest field for domestic students. This shows that there is an opportunity for SVSU to grow
both the domestic and international student populations in its MBA program.
Looking into graduate expectations, SVSU again faces an optimistic outlook. Looking
further into a study conducted by the Graduate Management Admission Council entitled “2016
Corporate Recruiters Survey Report”, salaries and demand are increasing for graduates of MBA
programs. Based on findings projecting employment and salary expectations for 2016, more
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employers plan to hire MBA graduates now than compared to 2016 and also plan to pay them
more. According to this study, recent MBA graduates can expect a starting median base salary of
$105,000 in 2016, up from $100,000 in 2015. This means that companies will expect to hire
more MBA graduates than ever before making the products that SVSU makes, graduates, more
valuable and more in demand than ever before. This study also shows that more companies,
especially in the United States value graduates from schools where their top preforming
employees are from. This means that SVSU students that perform well in the market and at their
jobs, raise the value of all SVSU students and the SVSU MBA degree. Overall, the MBA
program at SVSU faces an optimistic outlook for both students looking to gain an MBA and
graduates looking for work.
Competitive Analysis
The competitive outlook for the SVSU Online MBA program is fierce. Do to the large
variety of public institutions offering competitive MBA programs in Michigan alone, SVSU is
facing a large amount of competition with not a lot of ground to differentiate on. A quick google
search will land show four different schools all offering affordable online MBA programs, one of
which is also AACSB accredited. After browsing online MBA ranking websites, SVSU is not
mentioned in the “Online MBA Programs | The 25 Best Schools of 2017” by Onlinemba.com
and also not ranked or even given honorable mention from GetEducated.com on their “The Best
AACSB Online MBA Programs | 2016 Edition | GetEducated” list. Universities that rank on
these lists include Central Michigan University, University of North Carolina, and Indiana
University. Additionally, SVSU did not show up at all in the first page of an “Online MBA”
google search.
4
When searching in a more specified location for “Online MBA Programs in Michigan”,
SVSU, again, does not show up on any of the first page of the search results. Adversely, SVSU
does show up on a list entitled “Online MBA Programs in Michigan | 2017 MBA Degree Guide”
compiled by discoverbusiness.us. From this information, it is deducted that SVSU faces an
already flooded market with a lot of substitutable product offerings. Additionally, most of the
schools that have more name recognition and are considered prestigious institutions, offer a
program that is the feature of the programs, or a specialized degree in business, whereas SVSU
only offers a generalist MBA. This in part allows the school to blend in to the many lists of MBA
offering public institutions, rather than stand out more distinctively.
Technological Forces
•
Major shift in the dynamics of most businesses and education towards a digital
technology and media.
•
Employers looking for graduates who are familiar and understand the digital workplace.
•
Now the online MBA program is accessible to people around the nation and not just
within the tri-city area, which makes more competitive.
Economic Situation
We use the real GDP, mean earnings by highest educational degree earned, and
unemployment rate by level of education to analyze the importance of graduate education in the
present economic situation.
Real GDP
5
The increase in real GDP means an increase in the wealth that produced by the people, by
which I mean, the growth of the country’s economy. According to the U.S. real GDP in the past
five years, it can be seen that the U.S. economy has enjoyed steady growth. As shown:
Real Gross Domestic Product (GDP) of the United States
of America from 2012 to 2016 in billion chained (2009)
U.S. dollars
17000
16000
15000
14000
2012
2013
2014
2015
2016
Real GDP
Mean earnings by highest educational degree earned
These two kinds of data show the impact of education level on income and competitiveness
in occupational competition.
6
Mean earnings in the United States from 2012 to 2015,
by highest educational degree earned
180000
160000
140000
120000
100000
80000
60000
40000
20000
0
2012
2013
2014
Total
Less Than 9th Grade
High School (9th to 12th Nongrad)
Graduate (Incl GED)
Some College No Degree
Associate Degree
Bachelor’s Degree
Master’s Degree
Professional Degree
Doctorate Degree
2015
The data shows that, higher qualifications that higher salaries and higher increase rate of
salaries (except Professional Degree).
Unemployment rate by level of education
7
Unemployment rate in the United States from 19922016, by level of education
14
12
10
8
6
4
2
0
2012
2013
2014
2015
Less than a high school diploma
High scool graduates, no college
Some college, no degree
Associate degree
2016
Bachelor’s degree and higher
Number of higher education degrees earned in the
United States from 2012 to 2016 (in 1,000)
3900
3850
3800
3750
3700
2012-13
2013-14
2014-15
2015-16
2016-17
Number of higher education degrees
These two tables show that the higher the academic record, the lower the unemployment
rate, and the number of highly educated people is also more and more. This shows that in his
career, the higher the academic qualifications, the more competitive.
The U.S. economy features a highly-developed and technologically-advanced services
sector, which accounts for about 80% of its output. Economic growth in the United States is
constantly being driven forward by ongoing innovation, research and development as well as
capital investment. And it has a large, well-educated and productive workforce. People notice
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that higher education can lead to higher income, which is also an important reason why people
choose to continue their studies to obtain a higher academic record, especially when the national
economy is good. That is the reason why the population of people who have master’s degree
grows.
Political, Laws, and Regulation Factors
When one is looking at the online MBA program at SVSU, one needs to remember that
they are part of the AACSB association. The AACSB stands for Association to Advance
Collegiate Schools of Business and SVSU makes up 5% of it. (College of Business &
Management, 2001) Since SVSU is part of this association, they must follow their regulations
and standards for online MBA programs. Regulations such as providing financial and
technological resources to students through software and databases. (AASCB, 2017). To add on,
SVSU must make sure that their on-line program must have an always improving up to date
learning/ teaching model for students. (AASCB, 2017) To more specific with the on-line MBA
program, some classes might have to be taught all on-line or some may possibility be hybrid by
meeting every other week. Hybrid classes would help professors see how their students are doing
on reports/project making sure that they are on the right track. Reflecting Political and law
factors in SVSU’s on-line program, one has to make sure that the topics provided are reflected in
the modern day business world. Such as recent political issues and laws that might affect
businesses in the United States and overseas. Overall, making sure that students who graduate
from the program will be aware of the issues and have a good idea how to address it.
Cultural, Societal, Demographic Trends
9
Cultural, societal or demographic trends play a significant part in the success of online
MBA program implementation. Saginaw Valley State University is launching a new fully online
MBA program. As the coordinator of the program, I will look into the following trends in the
society: technology and internet influence, cognitive flexibility and learning and working
generation.
Technology and internet have revolutionized culture in our society. Traditionally, students
went physically to get admission and to learn. In most cases, they registered to their local
university, or they had to travel abroad to seek education in their preferred colleges. Technology
has changed that. A student can register for their courses in their preferred schools from wherever
they are and learn online (Andahazy, 2015). This cultural change indicates that our society is
embracing online learning hence a potential success in SVSU online MBA program.
The cognitive process that online learning platform has introduced defies the traditional
book reading of paper after paper. It is flexible to navigate in the learning process and find useful
resources with multiple representations of knowledge online. Assignments and notes are provided
by the professor through the same channel hence making it easy to access wherever the student is
(Kibelloh, & Bao, 2014). Through a click of a button, a student can obtain relevant materials that
he or she needs for reading. This trend constitutes the idea upon which MBA online program was
founded and ready to be launched.
The working and learning change that the society is experiencing calls for the collaborative
and seamless means through which the two can co-exist. People are working and at the same time
undertaking their MBA to further their knowledge and acquire experience. Going to work and later
attending classes in person is tiresome hence it calls for the MBA online program (Andahazy,
20 …
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