Hello everyone and welcome to our blog. If you don’t know already, Tabor School of Business at Millikin University in Decatur, Illinois, is known for its performance learning. Performance learning gives students the opportunity to live/work through real life job situations that happen in the business world. The goal of performance learning is to prepare students for the business world when they graduate. Every day, students are engaged in performance learning activities.
In Marketing 200, taught by Dr. Alan Duesterhaus, one of the course requirements during the semester is to create a marketing plan for a local business. Five students work together on a semester long project to write a portion of a marketing plan, in hopes that the business will incorporate part of the students marketing plan into their business. The marketing plan is written in several different steps. Three drafts are turned in, in addition to the final paper. Each draft has certain requirements, and after turning in the draft, Dr. Duesterhaus makes his critiques on the marketing plan and helps the students with the material they need to revise. In addition to writing the marketing plan, the students present the final plan to the class, professor, and CEO or owner of the company at the end of the semester.
By now you are probably wondering who the marketing plan was written for. In this particular plan, the students chose to work with Your Money Matters LLC (YMM), and came up with a team name Our Plan Matters. The students on the team are Zach McReynolds, Brigette Belt, Ashley Hartman, Serena Black, and Daniel Tomlinson. In addition, YMM is a financial coaching company ran by CEO Nikki Garry.
Before beginning on the written portion of the marketing plan, the students had to meet with the CEO to receive background information about the company. They also did their research on the company’s website and social media presences. The next step resulted in brainstorming through all the possibilities YMM needed a marketing plan for. The students started asking questions. What portion of the company is holding YMM back from taking off? What could we do to help this company out? They finally came to their solution. They were going to create a social media marketing plan.
YMM did not have a strong social media presence. The marketing plan will result in creating accounts on both Facebook and Instagram. We will have scheduled posts with themes. Then they predicted the growth rate for the company and the increase in revenue. They also had to figure out the costs in promoting the YMM. CEO Nikki Garry actually decided to incorporate the social media marketing plan into her business. Our Plan Matters also received the first ever A on a presentation in Marketing 200 given out by Dr. Duesterhaus.
The overall experience was a great way for students to learn how to create a marketing plan. At times it was stressful, but it was worth it in the end. The biggest highlight resulted in having a successful performance learning project that the students could put on a resume, which will help them stand out from other students.
- http://https://www.ted.com/talks/martin_reeves_your_strategy_needs_a_strategy Watch Ted Talk on Strategy in Marketing Plans
- Reeves, Martin. “Your Strategy Needs a Strategy.” TED, https://www.ted.com/talks/martin_reeves_your_strategy_needs_a_strategy#t-322640
Power Point By Brigette Belt, Zach McReynolds, Serena Black, Ashlyn Hartman, and Daniel Tomlinson
Photo By Brigette Belt