Describe how your product/service meets the need(s) of your
target market segments.
●
Describe how you are different from your key competition.
●
What is the most distinguishing feature of your new product?
●
What makes your product different from the competition? (50
words)
● What
gives your product more value than the competition? (50 words)
Price
●
What price will you charge and how will you determine what price
to charge for your product?
How will you determine what your product is worth?
●
How will your pricing strategy set you apart from your
competition?
● How
do you plan to distribute your product? Do you have alternative
delivery methods in mind? If so, describe in detail. (50
words)
● Will
you take responsibility for distribution, or will you rely on an outside firm?
How will you decide? (50 words)
Promotion
● What
kind of promotional tools will you use? Describe in detail. (50
words)
● How
will you determine what promotional tactics will work best? (50
words)
● With a
limited promotional budget, how do you plan to gain market share? (50
words)
● How
will you go about evaluating the results of your promotional campaign? (50
words)
3.6
Marketing Research (150 words total. 50 words each.)
● What
type(s) of marketing research do you think will work best
to get you the information you need to make informed decisions? (50 words)
● How
will you evaluate whether the research is providing you with the results you
need? (50 words)
● Will
you conduct the research yourself, or hire an outside firm? Explain why. (50
words)
Note: Do not forget that you need research to determine if you
reached your Objectives in 3.2.
4.0
FINANCIALS
4.1 Break-even Analysis (200 words total including TABLE/CHART.)
● When you will
break-even? (50 words)
● Break-even TABLE/CHART (100 words)
● Explanation of the
break-even table/chart (50 words)
4.2 Sales Forecast: (400 words total, including
TABLE/CHARTS)
1st year by month; 2nd and 3rd years by
quarter (refer
to your Kotler text)
●
Sales
forecast and timing – include charts showing the following: Remember that some
products have sales cycles – and whether you are planning for any growth in the
market for increased promotions.
●
Include
your sales forecast for the first year by month. (50
words)
●
For
the second and third years, include your forecasts by quarter. (50 words)
●
Keep
your chart(s) relatively simple and reduce the total number of categories so
that your investors can quickly discern the information.
●
Risks
– this is a CRITICAL PART OF ANY MARKETING PLAN, so
be sure to give this topic ample attention. (150
words)
●
Most
important components of sales performance – this is
a CRITICAL PART OF ANY MARKETING PLAN, so be sure to give this topic ample
attention. (150 words)
4.3 Expense
Forecast (100 words total. USE Table, like Table 4.4 in sample plan.)
List
your expenses for the following items for the next 3 years:
● Website
● Advertising
● Printed
Material
● Development
of retail channel
● Other
(list)
5.0 CONTROLS (160 words total.)
● How will you
monitor expenses/revenue? (30-40
words)
Identify what methods/reports and how often? (30-40
words)
● How will you
assess marketing effectiveness? (50
words)
● How will you
assess changes in the market environment? (50
words)
5.2 Marketing
Organization (100 words total.)
● Roles
and Relationships in Your Marketing Functions (who will be responsible and who
will implement this Brand Extension Marketing Plan?) (100
words)
5.3 Contingency
Planning (160 words total.)
●
Identify
risks in this plan strategy. (50
words)
●
How
will you monitor the risks? (50
words)
●
How
will you adapt to adversity and changes? (30-40
words)
● What options will you have? (30-40
words)
