This is a professional document and you will be graded on grammar, spelling and organization in addition to content. All submissions must use APA or MLA format.
FINAL MARKETING PLAN
The final marketing plan consists of the prior two submissions and a discussion of the 4 P’s. This will indicate how well you understand the components of the marketing mix and decisions regarding its implementation. The structure for the final paper is included at the end of this document. Remember this is a cohesive, professional document. (Marketing Plan)
Keep in mind each decision should be driven by your target audience and demonstrate an understanding of who they are and what they need/want.
Product:
Describe your product in terms of product lines offered, depth and width. If you are a service provider identify the various types and levels of services that you will offer. For products (not retailers), describe the packaging used and important information regarding it. This should be specific and comprehensive, painting a clear picture for potential investors.
Focus on the wants, needs and perceptions of your consumers. Identify any problems for your product. How will you overcome industry challenges you identified in your market, PEST, or SWOT analysis?
What goals do you have for quality of service, level of service (speed and accuracy), customer satisfaction, and your own flexibility to support consumer demands and requests?
What is your product development and innovation strategy? How will you continue to serve and meet the needs of existing and new customers?
Price:
How much will it cost for you to produce your product (or deliver your services)? At a minimum your prices must enable you to fully cover costs over an identified period of time. What pricing strategy will your firm employ? Identify prices associated with your primary products (services). Will price discounts be offered? If so describe what types of discounts will be used and when.
How do your prices compare to those of competitors?
Distribution:
If your product is a retailer, identify the location of your business selected for the 3 cities you selected, why it is located there (strategic, competitive, economic objectives)? If you are producing a product that will be sold through retail outlets, identify specific locations in the 3 cities where the product will be sold and provide justification for their selection. Are competitor products sold there? How will your product be distinguished? Where will the product be assembled and warehoused? Why? How will you incentivize these partners to carry your product? Does your pricing strategy reflect the need for distributors?
Describe your supply chain. What suppliers or vendors will you order from (for your most vital components)?
What will be the primary distribution forms for your product? How is your placement structure different from or similar to what existing brands in this industry are doing?
Promotion:
What is the main message you’d like to project in all of your communication elements? What promotional elements (IMC elements) will be used? What media will you use to distribute this messages? For each medium utilized, provide the information indicated below. Clearly indicate why you chose each.
For radio, focus on a stations music format and its relationship to your products image, broadcast area, cultural focus, age focus, etc.
For newspapers and other print mediums, consider the level at which you wish to advertise (local, regional, provincial, federal, cross-national, etc.), in what mediums (trade magazines, professional, recreational, cultural, hobby, special interest, etc.), how often, and the timing of such advertisements (seasonal, special issues, etc.).
Explain your use of traditional media such as television and billboards. Both are highly expensive, while computer based “bulletin boards” and the Internet can provide a global audience.
Identify specific social media that is applicable for your brand.
Format for the MARKETING PLAN
Title Page
Include the name of the company, period of time that the contents of the marketing plan covers, and completion date. List all members of your team.
Use a clean and professional format with examples of the company logo, product designs and packaging types.
If headers are used in the paper (and they should be) make sure to remove it from the title page.
Executive Summary: This is a 1 page document that provides a personalized overview of the document. A well-written executive summary motivates the reader to continue. Highlight areas of the plan that are particularly crucial to the reader, providing an indication of how this plan will help your business attain overall success in the future. Though this is the first part of the plan, it must necessarily be done last.
Background Information
Market Analysis
Environmental Analysis
SWOT Analysis
Targeting Strategy and selected target markets
Marketing Strategy
References
