MKTG300_03 Individual Project:
Developing a Marketing Plan (Due 11/25)
One of your key responsibilities as a marketer will be to draft a marketing plan. The objective of the plan is to architect a road map for marketing strategies of a firm. The goal of this project is to offer you some valuable experience in drafting a marketing plan.
You have been hired as a consultant to conduct a market analysis and develop a marketing plan. Although the ultimate goal is to help your client company achieve its long-term potential, the primary emphasis of the plan should be on programs to be implemented over the next year or two.
* Paper (Due 11/25)
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An executive summary does not introduce the paper, nor does it simply tell the reader the topics that will be covered. Rather, it provides a brief version of the paper. It provides the reader (i.e., your client) an overview of major points and key recommendations prior to reading the entire plan. Summarize the most important points from each section of the paper. Write this last, since it includes information from the entire paper.
Analyze the current business and overall market situation facing the client. Conduct secondary research to include relevant documents and data from valid sources. Each of the following components should be a separate sub-heading.
* Company Analysis: Describe the company. Include its history and experience; values, mission and culture; businesses and strategy; resources (financial and human); and current customers, product line(s), location(s), marketing communications, channels of distribution, and pricing. What are their strengths and weaknesses?
* Competitive analysis: Who are the major competitors? What are their values, missions and cultures? What are their businesses and strategies? Who are their customers? What is their value proposition? What benefits do they provide? How do their products/services, channels of distribution, and pricing deliver those benefits? How do they communicate the value to the consumers and potential consumers? What are their strengths and weaknesses? Be careful not to plagiarize by cutting and pasting or paraphrasing without correct citations of your sources and proper use of quotation marks.
* Environmental trends: Describe trends that impact or may impact the target market or this industry. What will be the effect? Will this company be hurt (benefit) more or less than competitors by this threat (opportunity)? Focus on the two following forces and discuss their impacts specifically.
* Social and cultural factors: What social or cultural factors or trends impact this industry? Is the product consistent with cultural norms and core values? Are there societal trends in the culture or in possible target markets’ subcultures that may support or impede the acceptance of the product? Additionally, will reference groups or opinion leaders influence the consumer’s decision to buy/use the product? Explain.
* Technology: What technological factors will impact this industry? Is technology a threat, perhaps replacing a product or service offered in this industry? And/or does technology create opportunities in this industry? Is the product high-tech or state-of-the-art for the market needs it satisfies? Are newer products replacing older ones frequently? Does technology impact the production, packaging, or distribution of the product?
* SWOT Table: This table summarizes your situation analysis in a visual form. Everything you list in the SWOT table should have been...