Marketing Plan DUE IN 24 hours!!!

Individual & Group Project – Marketing Plan

Class: Introduction to Marketing Section: Instructor: Mark Grooms Spring 2017 Assignment: Create and complete a marketing plan for a new product. These instructions will give you an overview of the marketing plan sections to complete along with explaining purpose, guide lines, and due dates. The accompanying marketing plan template will give the specific requirements within the plan.

1. Major Deliverables and Due Dates a. Draft Product Concept Testing and Draft of Three Levels of your Product , 12 pts – Wed. 4/12/17 (wk 10) b. One written Marketing Plan (Individual; follow template format), worth 100 pts– Wed. 4/26/17 (wk 12) c. One video or class presentation plus written Marketing Plan (Group), worth 75 pts. – Wed. 5/17/17 (wk 15)

Warning: Need instructor approval of product/service to receive a grade for individual project. Otherwise, student will receive zero points.

2. Intermediate Deliverables and Due Dates

Due Wed.

Week Sect. No.

Deliverable (Portion of Marketing Plan)

Individual/ Group

You may show me draft of your marketing plan at any time.

4/12 12 2.1 2.3 2.4 3.1-4 4.1 5.1 5.2 5.3 5.5 5.6 5.7 5.8 App A

Product Situation Marketing Situation Competition Situation SWOT Marketing Objectives Identify Possible Market Segments Target Market Position Strategy – (include Position Statement & positioning map) Product Strategy Price Strategy (Bring this into the plan for 2014 Distribution Promotion w/ detail cost of one media buy Product Concept Test/Responses Work Cited

2 – 3 paragraphs 2 – 3 paragraphs 2 – 3 paragraphs Bullet points 1 Statements (SMART) 2 – 3 paragraphs 2 – 3 paragraphs 2 – 3 paragraphs Statement Map 2 – 3 paragraphs 2 – 3 paragraphs 2 – 3 paragraphs Just detailed cost information (Source information) Citations (Minimum of 3; source for media buy does not count)

Individual

5/17 15 (Video) See Section 5 Video or Class Presentation for details.

Group

15 1.0 2.2 5.5 5.8 6.0 7.0 8.0

Executive Summary Company Situation Product Strategy Promotion w/ one media cost Video or Presentation Company Situation (part of video) Action Plan (with dates) Budget Controls

½ page 2 – 3 paragraphs 2 – 3 paragraphs 2 – 3 paragraphs 2 – 3 paragraphs

Group

Class: Introduction to Marketing Section: XXXX Instructor: Mark Grooms Spring 2017

3. Product a. The new product will be of your own creation. (New product or modification of an existing product) b. Your product will meet the wants and needs of a market(s), deliver satisfaction, delight your customers,

and meet your organizations goals. c. Product must be with in reason of technology and implementation.

4. Written Marketing Plan

a. Purpose: A Marketing Plan can be used to explain a strategy and plan for launching a new product or growing an existing product, to justify your budget to executive management, to hire senior personnel, to gain financing, or to gain support for your product from your suppliers and intermediaries.

b. Purpose: Use marketing terminology and concepts that we have covered in this class. Normally, you would want to put the plan in everyday language so that most people would understand your product and your plan of action.

c. Purpose: Apply the concepts of marketing concepts and principles to a product. d. Purpose: Demonstrate your understanding for marketing concepts and principles e. Purpose: To enhance your skill in reading and following directions, making sure that all requirements are

completed. f. Must include pricing for one media buy or vendor registration for trade show g. One marketing objectives (I’ll give you one) h. Marketing Plan must be reasonable. i. Content – See Marketing Plan Template.

5. Video or Class presentation

a. Content of the Video (3 1/2 minutes long) Avoid just reading the report or slides to us if you use a slide presentation approach. Come up with your own script. Try to make it interesting. (Note: Make sure all the sections and strategies are cohesive, and product, price, place and promotion are integrated. Examples: The target market is retired males, then have primary research video interviews with retired males, not young females (yes, this has happened). If the market-price skimming strategy is used, then you can use selective or exclusive distribution strategy, not intensive distribution strategy)

i. Introduction (30 seconds) 1. Introduction of team members – full names 2. Executive Summary (mini summary of presentation – just a couple of the highlights –

you decide) ii. Marketing (45 seconds)

1. What needs are you meeting?/What problem are you solving? 2. Describe the product 3. Target Market and why that market was chosen 4. Position statement (from individual marketing plan)

iii. Primary Marketing Research (45 seconds) 1. Objective (Section 4.1) (Does not have to be from individual marketing plan) 2. Show Research (other than the product concept testing)- Describe research and show

footage of marketing research 3. Interpret results - Present research analysis and conclusion based on your analysis.

iv. Pricing Strategy (Ch 11)(15 seconds) 1. Strategy (Skim or Penetration) 2. Any additional pricing strategy

v. Distribution (Ch 12)(15 seconds) 1. Intensive, Selective, Exclusive 2. What channels will be used.

vi. Promotion: (30 seconds)

Class: Introduction to Marketing Section: XXXX Instructor: Mark Grooms Spring 2017

1. Describe your message strategy (p. 440, benefits (not features) – derived from positioning [statement])

2. Creative concept – your compelling “Big Idea” (p. 440) 3. Identify the theme of commercial and explain. (Rational, Emotional, or Moral); see p.

415, and from chapter 14 lecture, and Advertising Objectives, Table 15.1 and Ch 15 Lecture.

4. Identify message execution and explain (p. 440-1; examples: musical, testimonial, etc.) vii. Commercial: (30 seconds)

1. Purpose: TV, Resellers, Demo to salespeople, Web or for investors 2. Important that commercial reflects message strategy, concept, theme, and execution. 3. Include a tag line. 4. Location of commercial within the presentation is up to you.

b. The final video of your marketing plan, primary research, and commercial will be 3 minutes in length. c. If you chose to give a class presentation, your presentation needs to be approximately 20 minutes long. d. All group members must have a speaking part in the video or presentation.

6. Rules and guidelines for the project

a. Instructor is the ultimate authority in approving and disapproving any or all of your project’s content and methods.

b. These instructions are not all inclusive, therefore the instructor reserves the right to make changes as necessary for learning to occur.

c. As the project progresses, you have specific due dates for deliverables d. Plagiarism will result in failing this assignment as well as other actions. e. You are expected to gather information from sources other than just the textbook.

7. Initial Resource:

a. Textbook – Marketing, 15e b. Blackboard Learn