Select a business of your choice, either your own or an existing business, and create a marketing plan presentation. The marketing plan must include the following information: Overview of Company, Marketing Plan Mission, Market Analysis, Target Markets, Competition, Market Trends, Market Research, Pricing, Marketing Strategy Overview, Marketing Strategy: Advertising Promotion Public Relations, Assessment of Marketing Effectiveness, Conclusions.
Here is a descriiption of what is to be included in each section:
Overview of Company: Describe the company. What does it do? Where is it located? When was it founded? How many employees does it have? How much annual revenue does it have (estimates are ok if it is a private company that does not release all its financial data)?
Marketing Plan Mission / Business Approach: A complete marketing and sales strategy is important in the growth of any business The key element of a successful marketing plan is to know your customers-their likes, dislikes, expectations. By identifying these factors, you can develop a marketing strategy that will allow you to arouse and fulfill their needs.
Market Analysis: This section will describe the target market and industry in a fair amount of detail, and give the reader a sense of the potential opportunity. You should also. Define your target market(s), your customer base, market share
Target Market: Describe what general market you wish to pursue. Divide the market into specific groups based on geography, demographics – age, sex, occupation, income etc., psychographic – lifestyle, dining habits etc.
Competition: Discuss your competition in relation to: Your 3 nearest, direct competitors and any indirect competitors? How are their businesses: Steady, increasing, decreasing? What are their strengths and weaknesses? How does their product or service differ from yours?
Market Trends and Research: Discuss any trends and how they benefit your plan – comfort foods, healthy foods etc., provide data on research you have done on the market – primary and or secondary data.
Pricing: Your pricing strategy is another marketing technique you can use to improve your overall competitiveness. Get a feel for the pricing strategy your competitors are using. That way you can determine if your prices are in line with competitors in your market area and if they are in line with industry averages. Discuss your pricing structure in relation to the target market, location, competition, and desired cost percentage.
Marketing Strategy Overview: Provide a general descriiption of your marketing strategy. The market segment, distribution channels, and share of the market you expect to capture.
Marketing Strategy (Action Plan) – Advertising, Promotion, and Public Relations: How you advertise and promote your restaurant may make or break your business. Your action plan should include long and short-term equity programs, a general objective, a specific objective, and the specific strategy you will use to attain your goals. Your marketing strategy must include one of each – advertising, promotion, and public relations. Your plan should include for example if it is a newspaper ad: the name of the newspaper, position on the page, how large the ad will be, how many times it will run and who the target market is.
Assessment of Marketing Effectiveness: Describe how you will track the effectiveness of your advertising, promotion, and public relations.
Summary of Recommendation and Conclusions: Summarize the key recommendations you are making for how the company should market its products or services. What are the key takeaways? Why do you think these recommendations will make the company successful?
