A Marketing Plan
For your final project I want you to be a true entrepreneur. Therefore instead of writing a business plan (which many of you have stated that you have already done), I want you to prepare a PowerPoint presentation explaining your Marketing Plan!!
In our course we will at various things about your proposed business such as, buying a franchise, choosing the legal structure and using social media to market it. Now we will go the next step and prepare a Marketing plan.
Imagine that you have your Product or Service ready and now you have to go to a group of venture capitalists (like the people on the TV show “Shark Tank”) to get funding for your business.
You have to convince them of your product and that you have a good plan to market it to be successful! You go to the meeting and you present your Marketing Plan using your PowerPoint presentation.
Your Marketing Plan – PowerPoint presentation will address ALL of the following:
Cover Page – Product name
I – Executive Summary
The Executive Summary will highlight the goals of your marketing plan and how you will accomplish those goals. Make sure to define your product/service and why it will be successful.
II – Market Analysis
In this section you will provide a summary of the market for your specific product/service. Make sure to address the past, present and future of the market.
What is the need and what is the want and for who?(Segment)
III – Positioning
Explain or show how you will position your product to be successful and how this will attract the consumer.
Who is your specific target segment broken up by demographics and why is this the right segment for your product or service?
I want ONE SENTENCE positioning statement that product, price, place, and promotion will all support!
IV Competition
You will also describe your competition and their strengths and weaknesses. Differentiate between direct and any potential indirect competition.
V. Marketing Strategies
This section should outline your strategies for the following:
Product/Service Strategy – what products or services will you sell and how does that best meet customer needs and how does it compare to your competitors.
Promotional Strategy – how will you promote your business and how will that make customers aware of your business and motivated to buy your products/services.
Pricing Strategy – how will you price your products/services relative to competitors, and what impact will that have on your volume of sales. You NEED to select an actual “Pricing strategy” from your reearch (Generic pricing strategies)
Place/Location Strategy – how will the proposed or current location of your business best meet the needs of your customers and/or create an advantage over competitors.
You will have at least 1 slide for each of the above areas, and your presentation must have at least 10 slides total.
Use the link in the week 7 assignment folder to submit your Marketing Plan PowerPoint Presentation.
You must use at least 3 reference sources with citations supporting your research.
E-text reference:
Longenecker, J. G., Petty, J. W., Palich, L. E., & Hoy, F. (2019). eBook: Small Business Management: Launching & Growing Entrepreneurial Ventures (19th Edition). Cengage Learning US.
