paper part 1
Team Marketing Plan Project
You are to create a marketing plan. The plan can be a new product for a new company (hypothetical) or a new product for an existing company.
The presentation should be about 15-20 minutes with every member being seen in the video, as well as, the slides for the presentation.
Key Components of a Marketing Plan
Executive Summary
Introduction of Product/Service
Missions and Goals
Environmental Analysis & SWOT
Target Market
Positioning Statement and Branding Strategy
Pricing Strategy
Distribution Strategy
Promotional Strategy
Conclusions
References
Executive Summary
Key points of the entire report
(Normally written last)
Introduction of Product/Service
Write an introduction to your company.
Describe your company, its location, and the product it makes or the service it provides
Introduce the contents of your marketing plan.
Missions and Goals
Develop your company’s mission statement.
Decide the main goals that you would like to achieve within the next year (short term) and the main goals that you would like to achieve within the next five years (long term).
Determine the most appropriate ways to measure both short- and long-term goals.
Note: Consider the following metrics: tracking downloads of website content, website visitors, increases in market share, customer value, new product /service adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement.
Environmental Analysis & SWOT
Assess/evaluate environmental factors (competitive, economic, political, legal, technological, and sociocultural) on your business
Develop a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis
Target Market
Analyze the primary and secondary markets that you
want to target.
Include the demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile, professional profile, geographic profile, and any other segmentation variable you deem necessary.
Examine the relevant consumer behavior of the target market.
Positioning Statement & Branding Strategy
Prepare a positioning statement.
Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position.
Develop a branding strategy for your product
brand name, slogan, logo (optional) and brand extension.
Pricing Strategy
Develop your company’s pricing strategy.
Describe type of pricing strategy
Identify factors influencing your pricing strategy
Distribution Strategy
Develop your company’s distribution strategy.
Describe channels of your distribution strategy
Identify factors influencing your distribution strategy
Promotional Strategy
Develop the integrated marketing communications plan most relevant for your product / service and audience.
Message strategy
Media strategy
Your public relations, sales promotion, and personal selling plan
Your online and direct marketing plan
Your social responsibility/cause related marketing plan
Peer Review
Each member is required to complete a peer review/evaluation using the peer review rubric.
You do not rate yourself.