22 Jul DESCRIBE WHAT IT IS; WHO IT WILL BE TARGETED TO; WHY IT WILL BE SUCCESSFUL
This will be a formal paper. It should end up at 6-10 pages in length not counting the cover page and reference pages. It should contain proper research and support with APA citations and references. NO PLAGIRISM! THANKS=)
BUS 328: Principles of Marketing
MARKETING PLAN GUIDE
Step 1: Introduction (Business Challenge) Why is this product needed? A marketing plan is to be persuasive; this should be an influential introduction. Define the product or service from a marketing orientation (focusing on how you will satisfy customer wants and needs better than any other competitive alternative).
Describe WHAT it is; WHO it will be targeted to; WHY it will be successful
Step 2: The Market Conduct market research and gather information that will specifically affect the marketing plan for your product.
Customers Target Market (address relevant characteristics)
Demographics: age gender education income ethnicity geographic location
Psychographics: values lifestyles activities interests opinions VALS2 type media habits shopping habits spending habits charitable activities etc.
Behaviorally: What benefits are they looking for in this type of product/service? How do they use the product?
POSITIONING: How will this product brand be positioned in the target customers mind relative to competition in the marketplace?
INTERNAL Strengths and Weaknesses
EXTERNAL Threats and Opportunities
Consider:
Competition
Economy
Technology
Public/Policy Legal
Socio-cultural (demographic and lifestyle trends)
Natural environment
Collaborators
Competitors
Step 3: Develop Marketing Strategies How are we going to get there?
PRODUCT Strategy
Features advantages/benefits of product or service
Brand name packaging ancillary services (delivery warranty credit etc.)
PRICE Strategy
PROMOTION Strategy
Promotional campaign information
Promotional tools utilized mediums timing
DISTRIBUTION/SUPPLY CHAIN Strategy
Availability of the product/service
Type of strategies
Intermediaries?
Step 4: Budget
Investment for launch
Short- and long-term returns
Other resources
Step 5: Finishing Touches
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