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Marketing Plan

Decide the product or service that will be the subject of your Marketing Plan.  Looking for a brief proposal similar to one presented to management for a product or service idea.  You will choose a company that is either fictitious or one that you know well. Pick something of interest and pick something where you have access to information. The final plan is expected to be professional level with research and depth. 

Add the situational analysis and the 5 Cs outlined in the first tab of the marketing plan guide to your marketing plan.  Important!  This section requires you to do your research.  You should review all factors affecting the marketing of your product or service applicable to the external and internal environments.  What sets you apart from the competition?

The next section of your marketing plan are the objectives.  For your objectives, they must be measurable.  Think about how you will measure you success and include that in your explanation.  Have at least 4-5 objectives and easy suggestions are for example:  Increase profits 10% the first year, add 10 new customers a month, etc.  Make sure the objectives have a quantitative measure. This should flow from the analysis of the 5Cs and SWOT. A 10% market share of a 10 million dollar market means an objective of 1 million in sales as an example. You must be specific, connect to your analysis the 5Cs and SWOT and be factual. This will set the stage for all the rest of the plan STP and the four Ps. It must all flow together. Start with the environment move to objectives then segment, target and position and finally design your marketing mix of product, price, and promotion and place (channels of distribution). It all flows and must be consistent.

The next section of your marketing plan is the segmentation/target marketing strategy section. Hint—make sure you understand the difference between target group and segmentation.  You segment the market using such factors as geographic, demographic, or psychographic.  You then target within that segment such as age, sex, hobbies, etc. Segmenting the market requires thought and precision and flows from your environmental analysis and the 5Cs, once you identify the segments and identify the size and viability, and what fits with core competencies, selection of markets to target to begin. Good detail is expected here along with research. Make sure you cite the sources of your data and follow the marketing plan guide below. The segmentation/targeting is under tab 2.

Add the Positioning Strategy for your Marketing Plan—This separate section or tab with the label Week 5 marketing Plan.

Next, we will research the segments and possible positions for our product or service and detail the positioning strategy. This is not a one-liner but a comprehensive positioning strategy based on facts. You must cite your sources. This is under tab 2 of the attached Marketing Plan Guide below. Also, please read and reference the text on positioning.

The next section of your marketing plan, which is the marketing mix strategy. Hint the marketing mix refers to the 4Ps of marketing which are product/service, price, promotion, and distribution/place.  This is an important plan where you strategize how to market the product or service to your target markets. The choices here must be consistent with the positioning strategy. You must do your research and cite your sources. It is under tab 3 of the marketing plan guide.

Add the Implementation Schedule and Executive Summary for your Marketing Plan—post your marketing plan sections to this separate section or tab with the label Week 7 Marketing Plan.  Hint  For your implementation schedule—suggestion—set up in an excel spreadsheet withe columns as follows:  activity, completion date, cost, expected results, actual results.  In the real world, this would be your roadmap for your plan with each marketing activity listed.  As you complete the activity, you would then post your actual results to compare to what you expected from the activity under your expected results column.  The executive summary is an overview of the plan—about one page—that is placed at the beginning of the plan.  This is typically, what the executives will read along with the implementation schedule as you handle the implementation of the plan. Be sure to detail each task or activity and start and completion dates for each. Excel is a good tool and the minimum. Microsoft project would surely be A level work or even another software product that generates a GNATT chart.

Upload your final marketing plan.  Your marketing plan should be completed except for additional finishing touches you want to do. 

The final plan should be a minimum of 20 pages and that is probably not A level work.
Please follow the format in this marketing plan guide.

 

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