Finish Question 1, 6, 7

10 Jun Finish Question 1, 6, 7

Written Marketing Plan (one per Team)

Complete the following sections of the marketing plan using Appendix A for reference.  Market research is appropriate in several sections, e.g., industry and customer analysis, competitive comparisons.

1. Executive summary (3-5 paragraphs)

a. This is a summary of the rest of the marketing plan and should be written last.

2. Company description (1 paragraph)

3. Strategic Focus & Plan

a. Mission (1 paragraph)

i.  Use the three elements of a good mission statement

b. Goals – 3 to 5 non financial (SMART) goals

c. Core competency & Sustainable Competitive Advantage (2-3 paragraphs)

i.  What are you really good at (versus competitors)

ii.  How are you going to maintain this advantage

4. Situation Analysis

a. SWOT analysis

i.  Cover each of the elements and include the areas identified in environmental scanning

b. Industry analysis(2-3 paragraphs)

i.  What is the NAICS or SIC code for your industry

ii.  What are some key points about the industry, e.g., how many firms

c. Competitor analysis  (2-3 paragraphs)

i.  Who is/are your primary competitors

ii.  What are their strengths & weaknesses

d. Customer analysis (2-3 paragraphs)

i.  What are the expected characteristics of the buyers of theses products/services

5. Market Product Focus

a. Target markets (2-3 paragraphs)

i.  Who are your target markets

ii.  Why were they selected as targets

b. Points of difference – 3 to 5 points

i.  How are you different from your competitors

c. Positioning (1-2 paragraphs)

i.  How do you want the market to see your firm versus your principal competitors

6. Marketing Strategy

This is your marketing program, and is the centerpiece of your marketing plan.

a. Product Strategy (3-4 paragraphs)

i.  For example, what are the points of parity & points of difference for the brand

ii.  Relate the product to the benefit/need of your mission statement

iii.  What services are a part of the product

iv.  If this is primarily a service, address the four I’s of service

b. Price Strategy (3-4 paragraphs)

i.  Will you be more oriented toward skimming or penetration,

ii.  How did you utilize the three C’s of pricing

iii.  What type of discounts will be used

c. Promotion Strategy (3-4 paragraphs)

i.  Outline your promotional plan including target audience and what promotional vehicles will be used

ii.  How does your promotion strategy move a buyer through the hierarchy of effects

iii.  Develop a sample print ad for your organization

iv.  Describe your website:  promotional or transactional, synchronous or asynchronous

d. Place/channel Strategy (3-4 paragraphs)

i.  Outline your marketing channel to the ultimate consumer

ii.  How does your channel add value among the four utilities channels provide

7. Financial Data – 3 years of projections

a.  include revenues (to be arrived at by units sold and price per unit)

b. Include marketing expenditures – how much and for what