18 Jun WHAT RESOURCES INCLUDING MANAGEMENT EXPERTISE DOES MY COMPANY HAVE THAT MAKES US UNIQUE?
The Market plan outline: A. Perform a Situation analysis: (6-7 pages) • 1- Internal environment: (Questions the plan address) – How does marketing support my company’s mission, objectives, and growth strategies? – What is the corporate culture and how does it in×uence marketing activates? – What has my company done in the past with its: target markets? Products? Pricing? Promotion? Supply chain? – What resources including management expertise does my company have that makes us unique? How has the company added value through its offerings in the past? • 2- External environment: – What is the nature of the overall domestic and global market for our product? How big is the market? Who buys our product? – Who are our competitors? What are their marketing strategies? – What are the key trends in the economic environment? The technological environment? The regulatory environment? The social and cultural environment? • 3- SWOT Analysis: – Based on this analysis of the internal and external environments , what are the key Strength, Weaknesses, Opportunities, and threats (SWOT)? B. Set marketing objectives: (1 page) – What does marketing need to accomplish to support the objectives of my Örm? C. Develop marketing strategies:(6-7 pages) • 1- select target markets and positioning: – How do consumer and organizations go about buying, using, and disposing of our products? – Which segment should we select to target?If a consumer market: what are the relevant demographics, psychographics, and behavioral segmentation approaches and the media habits of the targeted segments?If a business market: what are the relevant organizational demographics? – How will we position our product for our market(s)? • 2- Product strategies: – What is our core product? Actual product? Augmented product? – What product line/ product mix strategies should we use? – How should we package, brand, and label our product? – How can attention to service quality enhance our success? • 3- pricing strategies: – How will we price our product to the consumer and through the channel? How much must we sell to break even at this price? What pricing tactics should we use? • 4- distribution strategies: – How do we get our product to consumer in the best and efÖcient manner? – How do we integrate supply chain elements to maximize the value we offer to our costumers and other stakeholders? – What type of retailers, if any, should we work with to sell our product? • 5- Promotional strategies: – How do we develop a consistent massage about our product? How do we best generate buzz? – What approaches to advertising, sales promotions, social media, direct/ database marketing, personal selling, and public relations should we use? – What role should a sales force play in the marketing communications plan? How should direct marketing be used? D. Implement and control the marketing plan:(1-2 page) • Action plans (for all marketing mix elements): – How do we make our marketing plan happen? • Responsibility: – How is responsible for accomplishing each aspect of implementing the market plan? • Time line: – What is the timing for the element of our marketing plan? • Budget: – What budget do we need to accomplish our marketing objectives? • Measurement and Control: – How do we measure the actual performance of our marketing plan and compare it to our planned performance and progress toward reaching our marketing objectives?
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