Marketing Plan

Running head: PART A: MARKETING PLAN YOUR COMPANY NAME 1

11

PART A: MARKETING PLAN 6

Introduction (note this is not bold)

Write an introduction to your company. Describe your hypothetical company, its location (why did you choose this location), and the product it makes or the service it provides, and introduce the contents of your marketing plan.

Mission Statement

Develop your company’s mission statement (do not confuse a mission statement with a tag line, slogan, or positioning statement). Also, your mission statement should resonate with your consumers/customers as well as with your employees and stakeholders – remember to see the purpose of a mission statement and rationalize yours. Do not just state a mission statement without rational – answer why.

Goals

Write an introduction to this section here (minimum of three sentences). Note, your goals should be realistic, practical, and SMART (i.e., S. – specific; M. – measurable; A. – assignable; R. – realistic; and T. – time based). What does your company need to accomplish in the short and long term; consider revenue and profit goals?

Short Term

Text starts here – Decide the main goals that you would like to achieve within the next year (short term). Determine the most appropriate ways to measure short term goals. Note: Consider the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement. For information on Website analytics, visit Google Analytics at http://www.google.com/analytics/why/

Long Term

Decide the mains goals that you would like to achieve within the next five (5) years (long term). Determine the most appropriate ways to measure long term goals. Note: Consider the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement. For information on Website analytics, visit Google Analytics at http://www.google.com/analytics/why/

Environmental Analysis

Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Include an introduction of these elements. Write an introduction to this section (minimum of three sentences).

Competitive Analysis

Competitive analysis here - (who is the competition – direct and indirect, why do you consider them to competition, what do they do well, what might be a weakness?).

Economic Analysis

Economic analysis here - (Through this factor, businesses examine the economic issues that are bound to have an impact on the company. This would include factors like inflation, interest rates, economic growth, the unemployment rate and policies, and the business cycle followed in the country).

Political and Legal Analysis

Political and legal analysis here. Separate the topics if you have significant analysis. (Political and Legal: Here government regulations and legal factors are assessed in terms of their ability to affect the business environment and trade markets. The main issues addressed in this section include political stability, tax guidelines, trade regulations, safety regulations, and employment laws).

Technological Analysis

Technological analysis here – (How technology can either positively or negatively impact the introduction of a product or service into a marketplace is assessed here. These factors include technological advancements, lifecycle of technologies, the role of the Internet, and the spending on technology research by the government).

Sociocultural Forces Analysis

Sociocultural forces here – (With the social factor, a business can analyze the socio-economic environment of its market via elements like customer demographics, cultural limitations, lifestyle attitude, and education. With these, a business can understand how consumer needs are shaped and what brings them to the market for a purchase).

SWOT and Needs Analysis

Develop both a SWOT analysis and needs analysis for your product. Each analysis should examine three (3) each of strengths, weaknesses, opportunities, and threats for your company. Suggestion is to write an introduction (minimum of three sentences) and create a SWOT table (use APA formatting, label Table 1, etc.). Include an analysis, not just the table. Rationalize why you choose these SWOT elements.

Table 1

SWOT Analysis

Strengths · Short bullet · Xxxx · Xxxx	Weaknesses · Short bullet · Xxxx · xxxx
Opportunities · Short bullet · Xxxx · Xxxx	Threats · Short bullet · Xxxx · xxxx

Note: Strengths, weaknesses, opportunities, and threats for xxxx company.

Strengths

Include three strengths and explain the importance (think features and benefits to customer). Strengths are internal; what you can control.

Weaknesses

Include three weaknesses and impact to the business and/or customer. Weaknesses are internal; what you can control.

Opportunities

Include three opportunities and explain the importance (think features and benefits to customer). Opportunities are external; what is happening outside your company you can take advantage of such as new technology.

Threats

Include three threats and impact to the business and/or customer. Threats are external; what is happening outside your company that will impact your business such as new government policies or laws.

Conclusion

Summarize the plan to this point (minimum of three sentences) and you should not include any new thoughts (just summary).

References (note this is centered and not bold and on a separate page)

Use at least three (3) academic resources as quantitative marketing research to determine the feasibility of your product / service. In order to receive most points, submit four.

These resources should be industry specific and relate to your chosen product / service. Note: Newspapers, magazines, and other Websites do not qualify as academic resources and although you should reference if you use, they do not count towards your minimum. Quality references are peer-reviewed, scholarly journal published in the last 5 years. A good way to incorporate is by using Journal of Marketing for your theories and consumer behavior observations.

Listing your references without applying them in your text (citations) is not acceptable!!!