1. Marketing Principles

MKT 301 Marketing Principles (Online), Fall 2022

Final Exam

Due by the end of day, December 14, 2022 (Thursday)

 

Guidelines

 

• The exam is to develop a mini marketing plan for OpenAI’s API (choose a particular application such as “chat”, “grammar correction”). Please check https://openai.com about the company and their applications. Please feel free to use any other publicly accessible sources of information.

 

• On the next page, a marketing plan template is provided for you to develop the marketing plan. Please make sure that you address all questions/key points in the template. Answer fully but concisely, and as directly as possible.

 

• Your marketing plan must be written in your own words. Do NOT “copy and paste” any text from any websites or sources. You can paraphrase with proper citations. Your answers must be your own work.

 

• Please adhere to the word limits, both minimum and maximum.

 

Submission Instructions

 

• Type your first and last name in the space provided below “Plagiarism Declaration,” as well as in the file name. Save the file as: Firstname Lastname MKT 301 Exam – e.g., Vincent Xie MKT 301 Exam.

 

• Write all your answers in this document. There is an instruction at the end that says, “Start writing here.” Please type your answers there.

 

• Submit your answers via email to Vincent.Xie@umb.edu by the end of December 14, 2022, in Microsoft Word only. No other file types will be accepted.

Plagiarism Declaration

 

• I know that plagiarism is wrong. Plagiarism is to use another’s work and pretend that it is one’s own.
• I have not allowed, and will not allow, anyone to copy my work with the intention of passing it off as his or her own work.
• I acknowledge that copying someone else’s work (or part of it) is wrong.
• I declare that my answers are my own work.

 

By typing my name in the space below, I acknowledge that I will follow the Guidelines, Submission Instructions, and Plagiarism Declaration.

 

Student Name: (type your name here)

Date: (type the submission date here)

 

Marketing Plan Template

 

1. Executive Summary (25-50 words)

 

1. • Identify an OpenAI API application for this marketing plan.
   • Highlight the key points of your marketing plan.

 

1. Situation Analysis (150-200 words)

 

1. • Briefly describe the background of the company (OpenAI).
   • Identify the key factors regarding the company’s internal and external situations.
   • What are the challenges and opportunities ahead for the company?

 

1. Marketing Objectives (25-50 words)

 

1. • Present SMART marketing objectives: specific, measurable, actionable, realistic, and time-bound.

 

1. Marketing Strategy (300-400 words)

 

• • Target Market of the OpenAI API application: Define and describe your target market (s) clearly. Provide the rationale of why you choose to target the market(s).
  • Positioning: Present a positioning statement.
  • Proposed Marketing Mix
    • Product
    • Price
    • Place
    • Promotion

 

1. Implementation (50-100 words)

• • List the timeline of progress/action program over the period of the marketing campaign. A calendar of main events/milestones may be included.

 

1. Budgeting and Forecasting (100-150 words)

• • Present the marketing budget for your action program.
  • Forecast the sales/revenue within your proposed timeframe.

 

1. Campaign Evaluation (25-50 words)

• • How will the campaign performance be measured?

 

1. Bibliography & Footnote (required)

 

• • Use footnotes in the text when appropriate. Identify all sources of information used to create the marketing plan and place them in a bibliography at the end of the report. Citation style follows the Modern Language Association (MLA) guideline (https://style.mla.org). Examples can be found via the link here.

 

1. Appendix (if needed)

 

• • Include any relevant explanatory or illustrative materials, such as graphics, charts, and tables.

 

Writing and Formatting

 

Concise writing and clear formatting are crucial for the marketing plan. Please keep in mind that:

 

• • The material/analysis is presented logically.
  • Use a format similar to this instruction.
  • The ideas are consistent with each other throughout the report.
  • Use a professional business writing style.
  • Use a 11- or 12-point font, single-spaced.
  • Use headings/subheadings when appropriate.
  • Each piece of information is relevant to your headings/subheadings.
  • Add charts/graphics in the appendix if they help to illustrate your point.
  • Proofread before submission (e.g., check typo and grammar using the free version of grammarly.com).

 

Grading

 

Your marketing plan will be graded on both content and style, including:

 

• • All key questions/points in the template are addressed sufficiently
  • Thoughtfulness, depth, and/or creativity
  • Concise writing, logic flow of ideas
  • Clear formatting and presentation
  • Adherence to the word limits
  • Proper citations

 

Due date

 

Please email your marketing plan to Vincent.Xie@umb.edu by the end of December 14, 2022 (Thursday). Late submission within 24 hours will be penalized and not accepted after that time.

 

 

 

 

 

 

 

 

OpenAI API Marketing Plan

 

1. Executive Summary (25-50 words)

 

Start writing here

 

1. Situation Analysis (150-200 words)

 

Start writing here

 

1. Marketing Objective (25-50 words)

 

Start writing here

 

1. Marketing Strategy (300-400 words)

 

Start writing here

 

1. Implementation (75-100 words)

 

Start writing here

 

1. Budgeting and Forecasting (100-150 words)

 

Start writing here

 

1. Campaign Evaluation (25-50 words)

 

Start writing here

 

1. Bibliography (required)

 

Start writing here

 

1. Appendix (if needed)