Select a topic for the marketing plan you will develop throughout the term. It must be a single product or service, not a system or process. Research your concept before you finalize your choice; be sure you can find adequate data to inform a marketing plan. Look for data about customers, markets, competitors, and distribution channels.

Next, write an annotated bibliography that includes at least ten references to support your choice. Add the annotated bibliography to the end of your paper. See the rubric for more information.

When you write your paper, address the following questions, in detail:

1. What is the problem/need the product/service solves or addresses?
2. Who is the customer, in demographic terms? Be specific.
3. What is the customer’s psychographic? Be specific.
4. Where is the customer located — what is the geography? Pick a place, be very specific, by zip code so that you can easily pull data. If you go wide, like a region, a state, a county, a country, you must pull data for this entire area. Drilling down into zip code, or even a neighborhood within that zip code, is preferable.
5. Describe the 5 Ps (product, place, promotion, price, people) at a high level. You will further develop the marketing mix later in the term, but you need a sense of how this will look before you proceed.
6. Did you find adequate data to inform your annotated bibliography? If not, rethink your topic. You must have at least ten examples of solid data that proves your topic is viable for market planning in your annotated bibliography.
7. How is your product or service innovative? What does it do that makes it innovative? Note: your product or service must be an innovation or a major improvement of something that already exists.

Sample Solution

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USF issues parking permits to allow students to park on campus. The price of the permit is set by college administrators at their discretion; they do not consider market conditions. At the current price, some students complain that there aren’t enough spaces for them to park.

Address the following three points in a short essay:

Describe this situation in economic terms and describe what this implies about the market equilibrium and the price of a parking permit.
Should the price of a parking permit be raised or lowered to fix this problem? Why? Explain.
Use the supply and demand model to describe how a graph of the market for parking permits would be affected by a change in price. You must include a graph and reference/describe the graph in your essay.

Sample Solution

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