Buy Marketing Business Plan Assignment

Buy Marketing Business Plan Assignment

Companies introduce thousands of products and services every year. Suppose you are one of those start-up companies. Use your imagination and create a new product or service and write a marketing plan for it. This written document acts as a guidebook for you and has a lot of components (read Chapter 2 one more time before you finalize your plan). The marketing plan that you write might be used to obtain financial backing from banks and others. Keep that in mind as you write the plan.

The specific elements of the marketing plan is outlined below:

1. Executive Summary

Summary of the marketing plan (written like an abstract)

2. Product Description

Brief description of product being marketed
What does the product do? What are the unique benefits for the consumer?
Product features and benefits
3. Situation Analysis

a. Company Analysis

Buy Marketing Business Plan Assignment

Company’s mission, vision, values
Company’s main focus areas: product/brand portfolios and ranges, etc.
b. External Environment

Political and legal environment
Economic environment
Social and cultural environment
Technological environment
NOTE: For this analysis, restrict your focus to factors that have an impact (direct or indirect) on your business or your product. Keep it relevant! And describe how and why the factors you select are relevant!

Market Analysis

Market volume
Market value
Growth rates
Market dynamics
NOTE: You will definitely need to make some assumptions here.
Be sure to reference your data sources and show how you justify your assumptions.

Competitor Analysis

Market position
Strengths
Weaknesses
Market shares
Customer Analysis

· Who / what they are

· Value drivers for the customers

· Customer decision process

4. Market Segmentation and Targeting

Discuss the criteria and rationale for how the market was segmented.
Discuss the rationale for selection of target group(s).
Provide a detailed description of each target group (target segment).
e.g. Target Segment 1

Description
Size and value of segment
Needs and preferences: why they want this type of product, and what they want
How they use product
Purchase process
Support requirements
How to reach them
(Price sensitivity)

5. Selected Marketing Strategy

a. Develop a SWOT analysis

Based on the SWOT analysis, describe the rationale for the strategy/ies you selected
How does your SWOT analysis affect your marketing mix decisions (4 P’s) of product, price, place (distribution), and promotion?

b. Product

This should include consideration of the product’s advantages, plus how you will leverage these.

Product decisions should include:

Brand name
Quality
Scope of product line
Warranty
Packaging
c. Price

Pricing strategy, expected volume, and decisions for the following pricing variables if / as appropriate:

List price
Price category (e.g. premium, mainstream, discount)
Bundling
d. Place (Distribution)

Decision variables include:

Distribution channels, such as direct, retail, distributors & intermediaries
Length and breadth of channels
e. Promotion

Differentiation and Positioning
Objectives of communication program
Advertising, including your selection of which media to use.
Public relations
Promotional programs
Campaign slogan
Budget: show the criteria you use for determining the budget
Metrics: how to measure success of promotional program (e.g. AIDA)
6. Summary and Conclusion

Summarize all of the above.

7. References