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M1 Unit 3

478 Words2 Pages

After reviewing Units 1-5 including the objectives and concepts it aligns with the final project. The strategic marketing plan is a combination of all objectives learned and utilized throughout units 1 to 5. Unit 1 laid out the foundation for Marketing by diving into the current marketing systems being utilized along with today’s key factor’s and influences within Marketing. Unit 1 really brought to life the current marketing strategies utilized every day in the global economy. As stated in the editorial board, “marketing is the responsibility of each employee of an organization, whether a large fortune 500 company or a new enterprise with five employees.” I enjoy applying what I am learning to the real workforce. I was wondering what are some companies you admire due to their strong marketing presence that relate directly to their marketing strategies/plan? Unit 2 and 3 seems to dive into more of the initial planning stages of the marketing plan by understanding and estimating the market that a business is maybe entering. The unit 2 &3 discussion board along with the reading helps you take a holistic approach to a marketing plan. It focuses on taking a step back to look at the big picture. “Marketing strategy is not a stand-alone entity and must be thought of as part of a larger holistic …show more content…

“Products go through a four-staged life cycle: entry or introduction, growth, maturity, and decline.”(Editorial Board, 209) This unit helps you understand which marketing strategies you should apply at different stages of the product life cycle. This section engages you to start taking the tools you have learned and start to establish a process that will help you kick off the strategic marketing project in unit 5. Unit 5 focuses on gathering the knowledge and competencies to help you understand how to apply these resources in your career

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