Marketing plan

Marketing Plan Project Overview

Over the course of the semester, you will develop a comprehensive marketing plan. The project will be broken down into three parts, with each part building upon the previous one. By the end of the semester, you will submit a final marketing plan that synthesizes all the elements. The plan will focus on a real or hypothetical product or service, and each part of the project will align with the topics we are covering in class according to the syllabus.

Part 1: Marketing Process and Environmental Analysis

Chapters Covered: Chapters 15

Instructions: In this first part, you will lay the foundation for your marketing plan by:

1. Identifying the Product/Service: Choose a real or hypothetical product/service that your marketing plan will focus on.
2. Market and Environmental Analysis:

• Company Description: Provide an overview of the company or brand associated with the product/service.
• SWOT Analysis: Conduct a SWOT analysis based on the internal and external environment. This includes an analysis of strengths, weaknesses, opportunities, and threats. Use the example provided in your textbook (e.g., Appendix A).
• Customer and Market Insights: Analyze the market using Chapters 35. Define the target market based on customer behavior and market trends. Consider global market implications if relevant.

Deliverables:

• Company Description [0.5 pages]
• SWOT Analysis [1 page]
• Market and Consumer Insights [1-2 pages]
• Target Market Description [1 page]

Marketing Plan Project Overview

Over the course of the semester, you will develop a comprehensive marketing plan. The project will be broken down into three parts, with each part building upon the previous one. By the end of the semester, you will submit a final marketing plan that synthesizes all the elements. The plan will focus on a real or hypothetical product or service, and each part of the project will align with the topics we are covering in class according to the syllabus.

Part 2: Strategy Development and Marketing Mix

Instructions: In this second part, you will develop the core strategic elements of your marketing plan:

1. Segmentation, Targeting, and Positioning (STP):

• Segment the market into distinct groups.
• Identify your target audience and develop a positioning statement for your product/service.

1. Marketing Mix Strategy:

• Product Strategy: Define the product strategy (Chapter 9) including features, design, branding, and packaging. Align this with your customer analysis.
• Pricing Strategy: Propose a pricing strategy (Chapter 10), justifying it with market research and positioning.
• Place (Distribution) Strategy: Explain your channel strategy (e.g., online, physical retail) to reach your target audience.
• Promotion Strategy: Develop an integrated marketing communication plan, using various promotional tools like advertising, digital marketing, or public relations.

Deliverables:

• Segmentation, Targeting, and Positioning Analysis [2 pages]
• Marketing Mix (Product, Price, Place, Promotion) [2 pages]

Part 3: Implementation and Evaluation

Instructions: In this final part, you will focus on implementing your marketing plan and defining metrics for success:

1. Implementation Plan:

• Outline the timeline, budget, and resources needed to execute your marketing plan. Include specific activities, milestones, and responsible parties.
• Address how you will manage and adjust the plan based on market feedback.

1. Evaluation and Control:

• Develop key performance indicators (KPIs) to evaluate the success of your marketing plan.
• Propose how you will collect data (e.g., sales data, consumer feedback, digital analytics) and the process for making adjustments if goals are not met.

1. Ethical and Social Responsibility:

• Incorporate considerations of social responsibility and ethical issues related to your marketing strategy, referencing Chapter 19.

Deliverables:

• Detailed Implementation Plan [1 page]
• Evaluation and Control Metrics [1 page]
• Ethical and Social Responsibility Considerations [1 page]

Final Marketing Plan SubmissionIncorporate feedback from previous submissions and submit the full marketing plan. The final plan should include all the elements from the three parts and be structured coherently. Make sure your final marketing plan is professional, well-organized, and free of errors.

Grading Criteria

• Clarity and depth of analysis
• Application of marketing concepts from the textbook
• Creativity and feasibility of the marketing strategy
• Organization and professionalism of the written report

Project Objectives

• Apply marketing theories and frameworks to a real-world product or company.
• Develop critical thinking and problem-solving skills in marketing.
• Gain experience in creating and presenting a comprehensive marketing plan.