Marketing Plan Assignment

Marketing Plan Assignment

For this assignment you must write a Marketing Plan for yourfictitious company and a product line of your choosing.

A detailed outline of the Marketing Plan is on the following page. Please read the textbook chapters specified below thoroughly before attempting to write the Marketing Plan. In addition to reading the textbook chapters, you will need to know everything about the business and industry you are in so use the library and/or the web to thoroughly research the industry and the market you are in.

1. Written Marketing Plan

The written Marketing Plan must be 4-5 pages double spaced, Times New Roman font, size 12, and one inch margins all around.

Your Marketing Plan should follow the detailed outline on the next page. With the exception of tables (e.g. SWOT Analysis), charts, graphs, and bullet points, everything should be written in paragraph form. Write in full sentences, with correct grammar, and be sure to spell check. When you write your Marketing Plan, DON’T include the roman numbers but DO include the followingheadings and subheadings:

• Company Overview
• SWOT Analysis
• Competitive Advantage
• Target Market
• Marketing Mix (include subheadings: Product, Price, Place, Promotion)
• Implementation, Evaluation and Control

MARKETING PLAN OUTLINE

1. Company Overview (See MKTG Chapter 2 & MKTG Chapter 3)
   1. Write a paragraph:
      1. Stating the company’s name (i.e. brand name) and their background story
      2. Stating a mission statement for the company
         1. Explain how the mission statement answer the questions:
            1. Why are we in business?
            2. What business are we in?

• Stating the product line you are introducing

1. Situation/SWOT Analysis (See MKTG Chapter 2 and use the web to research the industry)

1. Using the table above, in each cell put an “x” in the appropriate box if the factor is a strength of the company’s or a weakness of the company (sometimes a factor can be both a strength and a weakness, in which case put an “x” in both boxes).
2. Underneath the table, write a paragraph or two for each factor describing why you decided each factor was either a strength or a weakness (or both)

1. Using the table above, in each cell put an “x” in the appropriate box if the factor is an opportunity for the company or a threat to the company (sometimes a factor can be both an opportunity and a threat, in which case put an “x” in both boxes).
2. Underneath the table, write a paragraph or two for each factor describing why you decided each factor was either an opportunity or a threat (or both)

• Competitive Advantage (See MKTG Chapter 2)
  1. Write a paragraph:
     1. Describing the company’s competitive advantage
        1. Identify the specific type of competitive advantage that your company has (i.e. cost, differentiation, niche)
     2. Analyzing whether that advantage is sustainable (i.e. Can it be copied by the competition? Why or why not?)

1. Market Analysis & Target Market (See MKTG Chapter 8 and use the web to research the target market)
   1. Write a paragraph:
      1. Identifying the general market for the entire product category
      2. Breaking down the general market into segments
         1. State the “bases” you’re using to segment the market
         2. Explain how each of those bases meets each of the 4 criteria for segmentation

• Selecting the target segment or segments for your specific product line (i.e. the segment or segments most likely to be attracted to buy the product)
  1. Identify the Target Market Selection Strategy you will be employing (i.e. undifferentiated, concentrated, or multisegment) and explain why you chose that strategy
  2. State the market segment(s) you will be targeting and explain why you are targeting them

1. Marketing Mix
   1. Product (See MKTG Chapter 10 and MKTG Chapter 11)
      1. Conduct a product-market analysis using the (See MKTG Chapter 2):
         1. Boston Consulting Group Matrix and the
         2. Ansoff Matrix
      2. State the product’s brand and positioning and explain why it will be compelling to the target market

• Create a mock-up of your brand logo

1. Create a chart illustrating your product mix, product line, and product items
2. For only your flagship (i.e. primary) product, write a paragraph:
   1. Describe its name, features, options/colors/sizes, container/package, warranty
   2. Stating the product’s value proposition (i.e. what makes this product valuable to the target market?) and explain why it will be compelling to the target market
3. Price (See MKTG Chapter 20 and MKTG Chapter 21)
   1. State how much each product in the product line will cost
   2. Specify which pricing strategy you employed to come up with your prices (was it status quo, competition, customer demand, PLC Stage, Sales Promotion, Costs)

• Explaining why the target market you listed above will be attracted to this price

1. Place (See MKTG Chapter 13 and MKTG Chapter 14)
   1. Create a chart illustrating your entire supply chain
   2. Explaining where you will source all the parts/ingredients for you product. This should include:
      1. Supply Management
      2. Inventory Control

• Explaining how you will make (i.e. manufacture) your product. This should include:
  1. Order Processing
  2. Production

1. Explaining how you will deliver your product. This should include:
   1. Warehouse & Materials Handling
   2. Transportation
2. Identifying all the marketing channel intermediaries you will be using to distribute your product
3. Specify you level of distribution intensity (i.e. intensive, selective, or exclusive)
   1. Identifying all the marketing channels (e.g. retail stores, online stores, kiosks, website, vending machines, convenience stores, high end stores, supermarkets, etc.) you will be using to distribute your product

• Explaining why the target market you listed above will be attracted to this (these) distribution channel(s)

1. Promotion (See MKTG Chapter 16, MKTG Chapter 17, MKTG Chapter 18, and MKTG Chapter 19)
   1. Create a promotional theme for the company’s product line
   2. Create a mock-up advertisement using the promotional theme, your brand logo (from Section VIaiii), and your price (from Section VIb1i)

• Write a paragraph:
  1. Explaining where (i.e. tv, online, billboards, magazines, internet, social media, newspapers) you will advertise that theme and why you selected those mediums
  2. Explaining if you intend to hire a team of sales people to sell the product. Why or why not?
  3. Explaining if you will offer any price discounts (i.e. rebates, sales, samples) for your product. Why or why not?
  4. Explaining why the target market you listed above will like these promotions

1. Implementation, Evaluation & Control (see MKTG Chapter 2)
   1. Write a paragraph or two on how you will:
      1. Implement the business plan
      2. Evaluate whether the business plan is effective

• Control your employees to ensure they are following the business plan