Applied Managerial Finanace

Now that Michelle has all of the pieces of her marketing plan in place, the board is ready to see the final plan. She is apprehensive about this because the board needs to approve the plan for it to move forward. It is imperative that the plan addresses all of the marketing issues discussed to this point, and that it also includes a discussion of how MM will measure the success of the plan after it has been implemented.   Primary Task Response: Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.  Michelle is happy with how the plan is being put into place. The date and time for the final board meeting has been set when she calls you.    “How will we know if the new product launch is a success?” she asks. “How will we know if what you have suggested really worked? Since I started this company as an entrepreneur years ago, I feel like everything that happens here is my fault or my responsibility. Does that make sense?”  “You’ve been so supportive to me during this whole process,” you say. “Leave it to me. I’ll think about what you’ve said over the long weekend and I’ll be ready to sit down and discuss the details as I prepare the final draft of the plan.”  Based on your original goals and the plan you are putting into place, what will you tell Michelle? 
•What will you measure to determine whether or not your new product plan for MM is a success? 
•What about a contingency plan? 
•Do you need to make recommendations for MM if things do not go the way you hope and expect them to?