Marketing Plan


Marketing Plan If you have always wanted to start a company based upon a great idea you’ve had, here is your chance to put the plan together. As we move through the class, week by week, we will discuss each of the important elements of a marketing plan. Each of these elements is reflected in the 10 elements of your plan, as described below. Please prepare a narrative for each section in the approximate length indicated. Having completed this exercise, you will have completed the bulk of activities to complete the narrative for a marketing plan.  Your grade for each item will be based upon the thoroughness and completeness of your discussion; your ability to apply the weekly concepts to a real situation of your own choosing; and your ability to be both creative yet grounded in reality in your thinking. Make the plan a workable real life scenario. Grading Rubric Section Description Length Points Description Describe the new business. Are you product or service oriented? What is the name of your company? Where are you located? Describe the scope of your business activities and the industry you intend to operate within. 1 page 10 Mission and Vision Statements Develop mission and vision statements for your firm. 1 page 10 Potential Market Segments List all potential market segments of interest to your firm. Describe them fully using appropriate descriptive techniques including geographics, demographics and psychographics. Give a rating to each segment for how accessible they are; how substantial they are; and how responsive they might be to your marketing activity. Give reasons for your responses. 2 pages 10 Environment Detail the macro and micro environments having the most effect on your firms marketing activities. What important trends are occurring in the marketplace? Fully describe the nature of the competitive landscape. 2 pages 10 Target Market Select your target market(s). Why did you choose to serve these markets? Explain your reasoning fully. 1 page 10 Product and Services Create your product and services offering for this market. What specific needs will you be fulfilling. Describe in detail the features and associates benefits of your product(s). Tell me why you feel you will be successful. 2 pages 10 Pricing Set your pricing. What goals are you attempting to accomplish with your pricing strategy. Will you be making future pricing adjustments? Detail your thoughts. (1 page) 1 page 10 Branding Create a brand image for your offering. Use the elements of value; values; personality; features and benefits as the basis for creating your proposed brand image. Describe your positioning strategy in light of the competitors in your space. Prepare a positioning map as part of the plan. 2 pages 10 Distribution Strategies Next, provide your thoughts on distribution strategies. Will you work through intermediaries and if so describe the delivery process in detail. If you will sell direct, describe that process in detail. How will your strategy impact your ability to control your overall marketing effort (discuss). Describe an alternative strategy if your primary strategy should fail. 2 pages 10 Communication Plan The last element required for this plan is a communication plan. Using all the available tools under the Integrated Marketing Communications discussion, develop a plan to gain the attention, interest, desire and action of your target. 2 pages 10 Total 16 pages 100

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