Marketing Plan

Basic requirements

• Your report must meet all requirements stated in the syllabus.
• Your report must be at least eight pages of your written content.
• Tables, charts, graphs, or analysis do not count as written content.
• You need at least four independent references (not including the textbook).

oAll references must have an author; individual(s) or organization.
oOne required reference is Datamonitor's SWOT Analysis for your firm.
oOne page (copy) from each reference is required.

• All references must be properly identified and cited (APA & Dr. Gailey's slides).
• Underling to emphasis important points is recommended.
• Submit complete report in a 3-ring binder and do not use plastic page protectors.
• Ease of understanding information is important in business reports. Therefore, clarity of the information you provide will affect your grade.
• Normal borders and fonts are required.
• Use consistent font style and font size; 11 or 12.

Your marketing plan must include the following sections with the identified headings: [First page: Title Page]

[Second page] Executive Summary (This is a full page, but do not exceed one page - write this section last)

Describe (two-three paragraphs);

(a) your business and product (not history)
(b) succinctly describe your marketing strategy

[Third page] Table of Contents [Fourth page starts your report]

Mission Statement (of the Firm);

One sentence to one paragraph (no more than three sentences) overview of your business with the focus on the benefits to your customers and how your firm is different from competitors. (This statement is qualitative, not quantitative). You need to create a mission if your firm does not have one or it does not meet these requirements

Situation Analysis;

A. Industry

oIdentify your industry & firm (underline) using the Global 500 list (Fortune magazine)
oIndustry analysis - Your firm plus two closest competitors
o Describe your industry (using Porter's "5 Forces"). Bullet the five forces in your description of your industry and specify level (high, medium, or low) and why.

B. Firm

oSWOT - Use Datamonitor SWOT analysis as reference. If your firm does not have one, pick the closest competitor that you can find.

C. Product

o Describe your product's fit with the firm's mission and SWOT
o Market (total) potential - Quantify and explain; include your calculation in an appendix.
If actual data is not available, use reasonable estimates and indicate as estimates.

III. Marketing Objective;

What, how (related to 4Ps) and when [Quantify and be as specific as possible.]
Use the SMART objective criteria
one objective, minimum

IV. Marketing Strategy;

A. Segmentation Strategy - Identify as a multi-segment, target marketing strategy and briefly explain the benefits of this strategy

o Describe at least two target market segments (& provide a table) based on;

1. Benefits Sought (i.e., needs, wants, preferences) and rank by TM
2. Lifestyle/life stage, usage behavior, demographics (e.g., income), and/or other
[Age and gender are not good bases for segmentation except in special cases!]
3. One target market segment outside the U.S., if correctly done, qualifies for 3 bonus points.

oEvaluate your primary target market (TM)

1. Clearly state your choice and provide justification (TM's market potential).
2. Discuss consumer behavior factors (e.g., purchase frequency, purchase sources).
3. Be as focused, quantitative, and specific as possible.

Marketing Mix (the order is required in this course) --- For each target market, clearly identify the differences between the marketing mixes.
Product - good, service, or both? Mention and underline marketing classification of product. If there is a service component, briefly describe.

oDescribe your product and its features / benefits / value to primary TM customers (chart required).
oCompetitive Info (& chart) - Identify and provide detailed information on your closest competitor.

• Name (one specific model)
• Product (features and benefits)
• Price (range and sources) - Use nextag.com or similar source one source and provide copy.
• Distribution channels

B. Promotions being used (provide copies of examples) Price - Identify your pricing strategy and explain your rationale.
Place - Identify your distribution channel(s) and explain your rationale. Promotion (include a positioning statement in the format provided in class)

1. Advertising (% of promotion budget)
2. Sales promotion (% of promotion budget)
3. Public relations (% of promotion budget)
4. Personal selling (% of promotion budget)

V. Implementation, Evaluation, Control - Each section must be separate with its own heading;

1. Implementation - Provide a rudimentary, 12 month schedule of marketing activities and a 12 month forecast with units and revenue. A budget is not required for this class.

2. Evaluation - Measurables; two minimum (describe what you would measure and when) and limits

3. Control - What will you do if you are over or under plan (beyond reasonable limits)?

Reference List (a separate page; APA format & Dr. Gailey's slides) Tables and graphs (if not built in your report)

Appendices (optional); your tables, charts, graphs, and analysis can be built into your report, but do not count toward the minimum page requirement.

Copies of your reference sources and examples of competitor's promotional materials.