Your major assignment for this course involves development of a Marketing Plan for a local business. Information for this project will be provided in your textbook, through class discussion, and research conducted by you. You will complete this assignment in groups of no more than four people. Groups will maintain records of attendance and responsibilities, and will complete a peer evaluation if necessary that will be used in the allocation of individual marks for this assignment.
You will periodically receive work classes to aid in the completion of this assignment; however, you will still need to commit time and resources outside of the classroom to successfully complete the project. I will be available to you or your group for no more than 1 reviewÂ of your assignment before you hand it in. Make sure you are fully prepared for each review.
Your completed assignment is to be handed in to me no later than 4:00 PM on Friday, December 17, 2021.Â Below you will find some guidelines that will help you in formatting your assignment, as well as some important dates to keep in mind.
The attached outline for your marketing plan should be followed precisely, as the completed assignment will be graded according to the criteria indicated. Please use it as a detailed guideline explaining how to complete the assignment, what issues need to be addressed, and the depth that is required. Your plan should include additional visual elements such as charts, graphs, photos, and tables to help express your information.
Friday, November 12, 2021â please submit your completed rough outline, indicating the topic of your marketing plan, and your names, by 3:30 p.m. The type of business you want to develop cannot be changed after this time.
Friday, December 17, 2021â final assignment handed in by 4:00 PM
- be typed and double spaced, using 12 point font
- be stapled/bound appropriately
- be grammar and spell checked
- be deposited in the drop box if not handed in at class time
- please do not forward your marketing plan to me by email
- Â¼ mark will be deducted for each spelling and grammatical error (to a maximum of 10 % of the project value)
- Cite all sources APA style
Follow the Marketing Plan Template below, rather than the one provided on pages A1 â A14 of your textbook: (note the guidelines for page length of text)
Executive Summary (2 pages) 3 marks (important points from your report)
Table of Contents (1 page) 2 marks
Company Mission Statement (complete with vision and value) (1 page) 5 marks
Current Market Situation (2 pages) 5 marks
Size and location of your anticipated market
Why is the market attractive?
Sales potential (what share of the market are you hoping to capture?)
Environmental Analysis (4 pages) 5 marks
Competitor analysis â size, goals, market share, products officered, product quality, capability, strengths, weaknesses, how they serve your customer segment, other information
Dates to observe
Macro environment analysis âfactors to include: demographic, socio-cultural, economic, technological, and political-legal criteria
Customer Analysis (target market review) (5-6 pages) 10 marks
- General statement (what their needs are)
- Customer trends affecting what and how your customers will buy
- Segmentation analysis
- Customer profile â who the Â purchaser is, needs, decision making criteria, key personnel involved in the decision to buy/not to buy product
- Descriptors (demographic, geographic, psychographic)
SWOT Analysis (5 pages â use bullets) 10 marks
- Be specific about the strengths and weaknesses you anticipate
- How will you overcome these?
- What are the opportunities and threat in the external environment?
- How does your product offering address the SWOT analysis?
Objectives to be Achieved (2 pages) 5 marks
(make sure they are clear, concise, measurable and achievable)
What are you trying to accomplish?
Size, market share, new product objectives, customer service objectives, Â Â Â Â communication objectives, pricing objectives, research objectives
Marketing Strategies (your marketing mix) (6 pages) 20 marks: 5 for each âPâ
- Detailed description of the product (good or service)
- Benefits and value being created
- How the product offering meets needs of the Â target market
- Competitive advantage
- Pricing strategy(ies) being used
- Competitive position
- Impact of price on marketing efforts
- How you will price your product
- Why you have chosen that price and method
- Description of location
- Advantages and disadvantages of location
- Look at it from the customer perspective
- Distribution strategies
- Develop a promotional strategy with at least three forms of communication (advertising, sales promotion, personal selling, public relations, direct marketing, internet)
- Provide creative examples of the three forms you choose.
Tactical Plans (4 pages) 10 marks (these are your day-to-day implementation of the plan)
What needs to be done, how will it be done, and who will do it?
- When will it be done?
- What resources do you need?
Budgets (1 page â single spaced) 5 marks
(this is only the budget for your marketing activities in your plan)
- Estimated budget for your marketing plan, including all expenses and communications (promotion) cost of the plan.
- Your comment on the cost effectiveness of the plan â is it viable?
Marketing Plan Control (2 pages) 5 marks
- How and when will you measure the success of your plan?
- What criteria (be specific) will you use?
Total Marks = 85 (to be converted into a total of 30 possible marks towards your final mark
The guidelines for page length are for text only. Charts, menus, photos, product samples, advertisement design samples, floor plans, cost estimates, etc. would be extra, and you are not limited to any length for these items.
Marketing Plan Topic: Rough Outline
What Type of Business Do You Want to Create a Marketing Plan for?
Please provide a one-page overview about the subject (good, service, or a combination of these) that you and your partner would like to use for the Marketing Plan assignment. The following questions should be addressed, and any other information you want to include. Once your subject has been approved, you may not change itâ¦ so please think carefully about the subject and how you will develop it, with respect to the guidelines provided.
1. Identify and explain what type of business you want to develop the marketing plan.
2. Explain the product(s) (goods and/or service) you want to offer; be specific and detailed.
3. Explain the value/benefit that you want to create between your product and the anticipated target market
4. Explain how you will bridge a consumerâs need to a consumerâs want in relation to your offering. What is the bundle of attributes that you want to create?
5. Identify the orientation style (product/selling/new era/customer) that you plan to adopt and explain why.
6. Will you include a social marketing concept with your marketing plan.
7. Provide a brief summary of the other elements of the marketing mix you want to create:
the price of the product
the place the product will be available (or the location of the offering)
the activities that will be used to promote the product
8. Identify the target market and discuss the market segment(s) you plan to target.
9. Identify your competition and explain what concerns will have to be addressed
10. Explain why you and your partner have chosen this type of business to develop a marketing plan.