01 Jul Marketing Plan Presentation
Question Description
You have been named as the Vice-President of Marketing for a new division in your organization. It is your responsibility to design a marketing plan for a new product or service. (For purposes of this course, your product can be a real or imaginary product.) Be creative!
Your project should be turned in as a power point presentation and it counts as 20% of your final grade. It takes the place of a comprehensive final exam so do a good job. If you do not know how to do a power point presentation, go to the learning lab or the computer lab or find someone who will help you. Also, there are a lot of how to videos on power points, or, read a book on it. If you still have trouble, get with me.
Your marketing plan will include: which means allof these things are required components of your project!!!!
A detailed description of the product or service (& maybe a bit of info on your business)
Define how this product/service fits with your organization’s mission statement (that means you will have to post the mission statement)
Perform a situation or SWOT analysis
Define the product’s target market
Describe the demographic segmentation of the product/service for all of these areas: age, gender, income, ethnic background, family life cycle
Define the geographic segmentation of the product/service market
Define the psychographic segmentation of the product / service’s market
What are the objectives of your marketing plan?
Are there legal concerns with this product or service?
What do you feel will be the possible market share of this product?
Will you market this product or service globally?
Will this product / service be in demand?
Will this product/service be marketed to a B to B or a consumer market?
What media will you use and why?
15. Now comes the fun part! Now that you have defined your target market, you must develop your marketing strategy. How will you develop the product? What will be your distribution, promotion, and pricing strategies?
16. Once you have designed your plan, you must be able to implement the plan.
Implementation is a major component of any plan as it is the process that turns the plan into action assignments.
17. Evaluation entails gauging the extent to which the marketing objectives have been achieved. How will you know if the plan is working? Control helps to evaluate the plan and offers corrective actions.
There is no fixed format for a marketing plan. You may design your plan any way you would like, in no particular sequence or order as long as it contains the required information. Be creative! Advertising falls into the promotional category. Be creative as to how you plan to advertise the product. Remember, money may be a factor, (it usually is), and this may decide how you will market or promote your product. If you’re inventing a new product or service and a new business, make your expenditures realistic. Cash could be in short supply. Will you use social media to promote your product, word of mouth, TV, radio, door to door, etc.
Although your marketing plan is your own “creation”, it is necessary to have the above components so that I, as your instructor, can measure what you learned in this course.
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