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Marketing Plan Project (Answered)
This is a continuation of the marketing plan that you began with Part 1. Use all of the information you can find regarding your chosen company. Your project should contain the following sections, in the following order. Please double space.
- Introduction (5 points, ½ page) Provide an introduction to the rest of your paper by providing a brief overview of what you will discuss.
- Pricing Strategy (20 points, 1 page). Provide a price range for your main product. Explain the pricing strategy. How do your prices compare to those of your competitors? Please, no “filler.” (For example, do not print out an entire menu and include it here.)
- Promotion Mix (60 points, 5 – 6 pages).
- Describe the promotions that the franchisor does. (For example, is there a national advertising program? Does the company send out coupons?) Identify the type of each promotion (advertising, sales promotion, public relations, personal selling, direct marketing, social media).
- What additional promotion ideas do you have for your unit? Come up with at least two, and be as specific as possible with your ideas. As in part 4a, identify the type of each promotion.
- Conclusion (10 points, 1 page). Now that you have done this research, would you actually proceed with the opening of this new business? Why or why not? Include the initial franchise fee and startup costs in this section, to help you with your decision.
- Works cited/Grammar/Spelling (5 points):
Use the MLA method, making sure to cite your sources throughout your paper. Significant deductions will be made for grammatical errors.
Marketing Plan (Assignment Solved)
The idea is to write a marketing plan for a new hospitality franchised operation to be built in the future, at a location of your choice within the United States. (See the “Marketing Plan Information” tab for information on selecting a franchise.) Your project should contain the following sections, in the following order.
- Introduction (15 points, 2 – 3 pages)
Include a description of the franchisor (parent company) and what it does. Use your own words here; paraphrase and summarize. Also include the company mission statement, the location of your chosen site (including the address and documentation that the property is available), and the reason for choosing this location. Finally, provide an introduction to the rest of your paper by providing a brief overview of what you will discuss
- Market Analysis (35 points, 3 – 4 pages)
- Target Markets. Describe your target markets (at least three). Identify each target market as geographic, demographic, or psychographic. Use information from the franchisor, but also consider new targets for your business. Support your descriptions with research about the markets. (25 points)
- Positioning Statement. Describe the position of your product in the minds of your target markets. In other words, what will your customers and potential customers think of when they think of your operation? How is this different from the competition? Review Chapter 5, Section 5.4 of the textbook if you need help with the concept of positioning. (10 points)
- Environmental Analysis (45 points, 4 – 7 pages)
- Analysis of competition. Who are your three or four primary competitors? Where is each located? Focus on the competitors of your specific unit in your specific location (not those of the parent company). How will they affect your new business? (20 points)
- Describe all of the other external environmental factors that will affect your business. Identify, research, and explain the types of factors and how they will affect your business and/or your target markets that you identified in Section 2. Identify each factor as a threat or an opportunity. Chapter 2, Section 2 of the textbook should help you a great deal with this section. (Do not do competition here. Cover this separately in Section 3a.) (25 points)
- Works cited/Grammar/Spelling/Format (5 points):
Use the MLA method, making sure to cite your sources throughout your paper. Significant deductions will be made for grammatical errors.
Human Resources (HR) Metrics
HR Metrics Proposal
There is a saying that an organization is only as good as the talent behind it.
Organizations often use metrics to measure and monitor employees, and metrics may
vary depending on what is being measured. Although metrics allow leadership to assess
individual, team, and organizational performance, using too many metrics is often
unnecessary and difficult to maintain short term and long term.
Case Scenario
To date, your HR department has not developed or implemented HR metrics. For this
assignment, prepare an HR metrics proposal for the chief financial officer (CFO) for
consideration. Your proposal must identify eight to 10 specific HR metrics that demonstrate the impact it has on the business. Remember, collecting data and calculating
metrics is time-consuming and expensive; it is important to focus on the metrics that
matter most. There are several categories and individual metrics to choose from such as
workforce productivity; employee engagement; recruitment (e.g., new hire turnover, costper-hire, time-to-hire, referral rates, etc.); retention (e.g., overall employee turnover,
performance turnover, etc.); overall HR costs; employee satisfaction; compensation and
benefits; and others.
Prepare your HR Metrics Proposal using the template attached.
• Examine 10 specific HR metrics.
• Define each HR metric.
• Provide the formula.
• Evaluate the collection method that should be used for each metric.
• Evaluate how the data should be gathered.
• Recommend how often these metrics should be collected and reported (monthly,
quarterly, or annually).
• Recommend to whom the metrics are to be presented.
• Explain how these metrics are relevant.
• Explain how these metrics impact the business.
Must be five double-spaced pages in length (not including title and references pages) and
formatted according to APA style