11 May DESCRIBE HOW EACH OF THESE TRENDS REPRESENTS AN OPPORTUNITY OR A THREAT FOR YOUR BUSINESS
Think of a business idea that you want to complete a marketing plan for. Some ideas you might consider include:
1. A family business
2. A product or business that you would like to invent/market/produce
3. A favorite product that you currently use, etc.
If you pick a large company with many products, then pick one specific product. Please feel free to contact your instructor with product/service/business ideas!
Here is the overall outline: for the first section:
I. Title Page
a. Title: Marketing Plan for _______(insert product name)
b. Your name
c. Prepared for MKTG 3300, Spring Semester 2016
d. Instructors Name
e. Date
II. Company and Product Description (Chapter 1)
a. Company and Product Description – See Appendix A for example (page 51)
III. Mission/ Goals/Competitive Advantage/SWOT Analysis (Chapter 2 – #2)
a. Write a mission statement for your company.
b. List three non-financial goals and three financial goals – please be sure be specific and incorporate them into “S.M.A.R.T”goals.
c. Write a competitive advantage
d. Conduct a SWOT analysis for your product – create a table with this information.
IV. Situational Analysis (Chapter 3 – # 1 and 2)
a. External factors – create a table similar to Figure 3-2 and identify three trends related to each of the five forces ( social, economic, technological, competitive and regulatory) that relate to your product or service
b. Describe how each of these trends represents an opportunity or a threat for your business
V. Consumer Analysis (Chapter 4 – # 1, 2, 3)
a. Identify the consumers who are most likely to buy your product – the primary target market – in terms of their demographic characteristics and any other kinds of characteristics you believe are important
b. Describe the (a) main points of difference of your product for this group and (b) what problem these characteristics help to solve for the consumer in terms of the first stage of the consumer purchase decision process in Figure 5-1
c. Identify and explain the key influences for each of the four outside boxes in Figure 5-4 (you do not have to complete this for all of them, just the ones that would influence your business); (a) marketing mix, (b) psychological (c) socio-cultural and (d) situational influences
** Please note that you will want to utilize secondary sources and terms from the chapter when completing this assignment and they must be cited with proper APA formatting.
Report Requirements
• Single spaced
• 1” margins
• 12 pt font.
• Times New Roman Font
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