Report Writing

Marketing Plan Topic Selection

New product/service development: Identification and creation

Your Marketing Plan, Step by Step

source: Marketing Plan Handbook, Marian Burk Wood, 5th Edition

Answer the following questions to take the first steps in preparing your marketing plan.

1. What new goods or service related with new modern technology innovation will you focus on in your marketing plan? If you are preparing a plan based on a real offering, choose one specific brand and good or service, such as SpaceX planet transportation service (https://www.spacex.com/). Another option is to prepare a plan based on a hypothetical new product—make your offer concrete by briefly describing the new goods or service, benefits or values, competition, and intended customers.

You chose product: CurBot ( 3000 to 5000 WORDS )

For detail information about those products, see this Youtube: https://www.youtube.com/watch?v=8T7nOBno0UM https://www.youtube.com/watch?v=XjA58Km-u8s

2.What background information is publicly available about your chosen new product or product category? Refer to Exhibit 1.2 (see page 2 below) as you consider whether you will be able to gather sufficientresearch about competitors, customers, communications, pricing, and other details that a good marketing plan should cover. If a business has asked you to do a marketing plan for one or more products, ask to see historical data on sales, profit margin, pricing, distribution, results of promotions, and other relevant marketing details. (Bear in mind that firms may consider some information to be proprietary and may not make these details available to you.)

3. What sources will you use to gather information about your chosen product or category? List publications, associations, websites, and authoritative blogs that cover this industry; add any knowledgeable experts you might consult; and include your personal experience with this orsimilar goods or services. Watch for news stories, ad campaigns, social media efforts, and anything else that might spark interesting ideas as you begin formulating your marketing plan. Conduct an Internet search and bookmark sites with reliable sources of up-to-date facts and figures about the marketing situation for this product or company.

EXHIBIT 1.2 Main Sections of a Marketing Plan

1. Executive summary: Reviews the plan’s highlights and objectives, linking the marketing effort to higher-level strategies and goals.

2. Current marketing situation analysis: Analyses events and trends in the environment that can affect the organization, its marketing, and its stakeholders:

• Internal situation (mission, resources, offerings, previous results, businessrelationships)

• External situation (political-legal, economic, social-cultural, technological, and ecological forces)

• Competitive situation (current and emerging/potential competitors, competitive strategies and advantages)

• Market situation (market definition, market share, customer needs and behaviour)

• SWOT analysis (internal strengths and weaknesses, external opportunities and threats)

3. Target market, customer analysis, positioning: Explains the segmentation, targeting, and positioning decisions. Also discusses the segments to be targeted, with an overview of customers’ and prospects’ needs, wants, behaviours, attitudes, loyalty, and purchasing patterns.

4. Objectives and issues: Outlines specific objectives, in three categories, to be achieved through the plan, and identifies any issues that may affect the organization’s ability to achieve them:

• Financial objectives

• Marketing objectives

• Societal objectives

5. Marketing strategy: Summarizes the overall strategy for achieving objectives by creating, communicating, and delivering value to the target market(s). Also indicates how marketing will affect other stakeholders.

6. Marketing programs: Lays out the programs supporting the marketing strategy, including specific activities, schedules, and responsibilities for the following:

• Product

• Pricing

• Place (channels and distribution)

• Promotion (marketing communications and influence)

• Service

• Internal marketing

7. Financial and operational plans: Financial and operational requirements and results related to marketing programs:

• Expected revenues and profits

• Projected budgets

• Schedules and responsibilities

• Additional information or resources needed for planning and implementation

8. Metrics and implementation control: Indicates how the plan will be implemented and evaluated, including metrics for performance measurement. Shows how and when adjustments will be made to keep plan on track toward objectives. Includes contingency plans as needed

Format and Structure of Marketing Plan Report

i. Title Cover

ii. Executive Summary

iii. Table of Content

1. Current Situation Analysis

1.1. Market Summary

1.1.1. Market Environment and Size

1.1.1.1. Geographics

1.1.1.2. Demographics

1.1.1.3. Behaviour Factors

1.1.2. Market Trends

1.1.3. Market Needs

1.1.4. Market Growth

1.2. Competition

1.3. SWOT Analysis

1.3.1. Strengths

1.3.2. Weaknesses

1.3.3. Opportunities

1.3.4. Threats

1.4. Product Offering

1.5. Keys to Success

1.6. Critical Issues

2. Marketing Strategy

2.1. Mission

2.2. Marketing Objectives

2.3. Segmentation

2.4. Target Markets

2.5. Positioning

3. Marketing Program (Marketing Tactic Plan)

3.1. Product Strategy

3.2. Pricing Strategy

3.3. Communications and Influence Strategy

3.4. Channel Strategy

4. Implementation and Marketing Controls

4.1. Implementation

4.2. Marketing Organisation

4.3. Contingency Planning