(Epoxy Flooring Marketing plan, Tampa FL) Marketing Plan Final Project Template MKT531.docx Marketin ...
(Epoxy Flooring Marketing plan, Tampa FL) Marketing Plan Final Project Template MKT531.docx Marketing Plan Final Project Template MKT531.docx - Alternative Formats If you have an idea for a business, this is a good time to explore the idea. It's better to have an unsuccessful marketing plan before you might invest in it. (Epoxy Flooring Marketing plan, Tampa FL) The plan should be a new to the world product or service or an improvement over an existing one. Please DO NOT submit a marketing plan of an existing company, product or service. The marketing plan assignment needs to be in APA format and at least 10 pages in length not including the cover page or reference list. You must have a minimum of 5 references in your entire paper. This is the time to be creative and have fun with this project.Week 6 Assignment (Part A).The Major Parts of the Marketing Plan (Epoxy Flooring Marketing plan, Tampa FL) The Executive Summary This section summarizes the main goals, recommendations, and points as an overview for senior managers who must read and approve the marketing plan. Generally, a table of contents follows this section, for management convenience. Current Marketing Situation In this section, marketing managers discuss the overall market, identify the market segments they will target, and provide information about the company’s current situation. Market Description By describing the targeted segments in detail, marketers provide context for the marketing strategies and detailed action programs discussed later in the plan. Benefits and Product Features Clarify the benefits that the product features will deliver to satisfy the needs of customers in each market segment. Product Review The product review should summarize the main features for all of the company’s products. The information may be organized by product line, by type of customer, by market, or by the order of product introduction. Competitive Review The purpose of the competitive review is to identify the competitors, describe their market positions, and briefly discuss their strategies. Distribution Review In this section, marketers list the important channels, provide an overview of each channel arrangement, and mention any new developments or trend Strengths, Weaknesses, Opportunities and Threats Analysis Strengths Strengths are internal capabilities that can help the company reach its objectives. Weaknesses Weaknesses are internal elements that may interfere with the company’s ability to achieve its objectives. Opportunities Opportunities are external elements that the company may be able to exploit to its advantage. Threats Threats are current or emerging external elements that may possibly challenge the company’s performance. Week 7 Assignment (Parts A & B). Combine Part A with the following sections below, Part B, to make final paper. Objectives and Issues The company’s objectives should be defined in specific terms so management can measure progress ad if needed, take corrective action to say on track. This section describes any major issues that might affect the company’s marketing strategy and implementation. Be sure to include the first year and second year objectives. Generally, we are using unit sales volume for the first and second year. Marketing Strategy What’s the Plan? Positioning A positioning built on meaningful differences, supported by appropriate strategy and implementation, can help the company build competitive advantage. How is your product different? How is your product viewed by your target audience? Product Strategy Include all the features described in the earlier product review section. Describe the warranty. Describe what you will do to build the brand? Describe the brand, its logo on the product as well as its packaging. Pricing Strategy Describe your pricing strategy. What will you charge at retail, etc? Will it be a penetrating pricing strategy, like Walmart? Will it be a skimming policy like Mercedes automobiles? Distribution Strategy Describe your channel strategy. How will you get your product from the producer to the consumer? Who you will use for distribution to market your product? What retails will you use? What channels will be used as coverage and what markets you plan on entering. Will you use the Internet and or catalogs as well? Marketing Communication Strategy Integrating all messages (IMC) in all media uses, will reinforce the brand name and its main points of product differentiation. Will you use all five of the elements including: advertising, sales promotions, public relations and personal selling? Direct marketing in some circles is also one of the communications as well. Marketing Research We can identify specific features and benefits that our target market segments value. Feedback form market tests, surveys, and focus groups will help us develop new products and services. You can also measure and analyze customer attitudes toward competitive brands and products. Marketing Organization Explain who would be hired to handle various aspects of the marketing organization. Budgets Budgets serve two main purposes: to project profitability and to help managers plan for expenditures, scheduling, and operations related to each action program. Be sure to include a break-even point. Control Controls help management assess results after the plan is implemented, identify any problems or performance variations, and initiate corrective action. There is a need for tight control measures to monitor quality and customer service. This will enable you to correct any problems that may occur. Other early warning signs include monthly sales and monthly expenses. powerpoint presentation below. See instructions there. Week 7 PowerPoint for Marketing Plan Create a PowerPoint presentation with an introduction slide and components 2-5 of Parts A & B. You will presenting to the class in Week 8. Include images to increase appeal Do not overcrowd your slides. Do not write in complete sentences and paragraphs; use bullet points Please use speaker notes Be sure to make each section a separate document for instance Part A, Part A/B, and Powerpoint Separately.
