marketing plan

TERM PROJECT: Marketing Plan

The term project consists of developing a marketing plan for a new Functional Beverage Shop in Plattsburgh, NY. Functional beverages deliver functional benefits in addition to refreshment. Anything from energy drinks and enhanced waters to cultured probiotic drinks and naturally functional beverages which market health benefits such as improved hydration, energy, performance, focus and more. This project enables you to integrate the many dimensions of marketing that make up the marketing plan. You will acquire the planning discipline, understand the role of more specialized marketing courses (i.e., advertising, consumer behavior, marketing research, etc.) in marketing planning, and develop an applied practical as well as theoretical understanding of marketing.

Even though many of you will scatter into various areas of business, you will acquire an important skill--the ability to critically evaluate your firm's marketing planning activities, activities which permeate almost all types of organizations. The marketing plan outline below provides the structure of your marketing plan. There is a model of a marketing plan for a veterinary clinic starting on page 562 of your textbook so that you can see how the different sections were applied for this business. You need to do the same thing for the assigned business.

Your project will be submitted in 2 parts, as follows:

Marketing Plan Part 1: Situation Analysis (Uncontrollable elements)

1.1 Company analysis of objectives and resources

1. Objectives

1. Resources

1. Other marketing strategies and programs

1. Opportunity analysis

1. Ethics and social responsibility

1. Gathering company information

1.2 Customer analysis

1. Learn more about customers and customer behavior

1. Define the Product market

1. Apply this information for segmentation and targeting

1. Gathering customer information

1.3 Competitive market analysis: Competitor matrix

1. What companies are our main competitors

1. What is the marketing strategy for each of these firms (TM + 4Ps)

1. What is each firm’s positioning

1. What are each competitors’ strengths and weaknesses

1. How would the competitor react to changes in our marketing strategy

1.4 External Market environments

1. Economic environment

1. Technological environment

1. Political and legal environment

1. Cultural and social environment

1.5 SWOT analysis (Strengths, Weaknesses, Opportunities and Threats)

1.6 Marketing plan objectives (emerge from company objectives)

1.7 Differentiation and Positioning