Marketing
CMP DRAFT 1
1. A thread that summarizes your group's commitment to the project. This should include key criteria such as group expectations for participation by group members as well as a schedule related to member participation. Note that the group project includes both individual posts, review and critique of member posts and finally, a group consolidation of information for each module.
2. A thread in Group DB Forum 1 explaining your idea for a new product, the name of the company that will launch the new product and a short description of the company. Read ch. 3 for changing consumer and environmental trends that give rise to unmet or changing needs. You should also read ch. 8 & 10 to get an idea how marketing research can be used to support the development of new products.
3. Finally, a thread with Draft 1 of your Marketing Plan (MP) attached as a Word file. Your draft should contain the following sections:
· Company Description: Please see page 47 in your text for an example of the expected information in this section.
· Strategic Focus: You must research the company and identify the company's mission (why the company exists; whom does the company serve) and (if possible) their vision (what does the company want to achieve - e.g., grow to become the industry leader, gain #1 status in the market; become known as an environmental leader).
· Company Goals: This one may be more difficult, but you may be able to find annual statements for the company (if it is publicly traded) or comments / speeches by the company CEO / president that will help you to identify either financial or non-financial goals.
· Core Competencies and Sustainable Competitive Advantage (SCA): Information on these two topics may not be readily apparent (especially the source of the company's SCA, but you should look for information on these topics as you work through the elements of the MP.
CMP DRAFT 2
1. A post with Draft 2 of your Marketing Plan attached as a Word file. Draft 2 should include the following section:
2. Situation Analysis: Please review pp. 49 - 52 of the sample MP. You should notice that Section 4 (Situation Analysis) contains 5 major elements. They are:
· SWOT analysis
· Industry Analysis
· Key Competitors
· Company Analysis
· Customer Analysis
· A thread in Group DB Forum 4 with the final Marketing Plan attached as a Word file. In addition to the components identified in the previous drafts, this final MP should include the following sections:
· Marketing Programs & Financial Projections.
You should review pp. 54 & 55 of the text for examples of the key issues that should be discusses within these sections of the MP. You will need a comprehensive marketing program which includes a discussion of: the Product Strategy, the Pricing Strategy, the Promotion Strategy and the Distribution (channels) Strategy.
The last section on Financial Projections should show a five year projection of expected revenues. In addition, you should present some type of idea when BE (break-even) will take place. Companies that introduce new products generally do not make a profit in “year 1” because of the high development and marketing costs required to test and launch the product. Obtaining costs will be difficult, but you should try to estimate costs.
· Executive Summary (ES)
Finally, once the MP is written, you will need to write the Executive Summary. The ES is written last, but is placed right after the Table of Contents. You will want the reader to see the ES first. If they like it, they may read on. If it does not excite the reader, the MP will likely be discounted. The ES should contain only the most important findings, conclusions and recommendations contained within your plan.
· The Table of Contents
The Table of Contents should contain a list of major sections of your marketing plan with the names of the group members that participated in the actual writing of each section. This will allow the instructor to evaluate each member’s contribution to the overall group project.
· Appendices
The only Appendix required is a Reference List. Keep in mind that data and key information may need citations, but will surely require a reference list. A plan with no references will be considered marginal since information sources add considerable credibility to the ideas in your plan.