28 Jun Market Plans and QMC – Target Markets, demographics
Question
Market Plans and QMC
It’s time to develop the marketing plan. Bring together everything you have learned and experienced to date, and create a thorough, detailed plan for QMC. The marketing plan should include:
1. Executive Summary
2. Situation Analysis
o Target Markets (demographics, needs, trends, etc.)
o Critical Analysis Considered (SWOT, Competitive, etc.)
o Product(s) Defined (features, benefits, etc.)
o Anything else you believe to be important
3. Key Marketing Objectives (what are you trying to accomplish?)
4. Strategic Initiatives
o Positioning
o Differentiation vs. Competition
o Pricing Strategy
o Distribution Strategy
5. Tactical Plans
o Promotional Tactics to be Used
o Develop a creative execution of a print ad
o Develop a creative execution for a direct mail or e-mail campaign
o Timing
o General Thoughts on Budget (where will you spend money?)
o Anything else you believe to be important
6. Other
o Keys to Winning
o Barriers to Success
o How will you measure results
? Define the scope of the marketing plan
? Agree on general parameters such as target market, positioning and differentiation, pricing and promotion strategies
? Decide who will write which piece of the plan
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