MAX 12 PAGES. Paper must be APA formatted. Consider, what is the problem you are solving or opportun ...
MAX 12 PAGES. Paper must be APA formatted. Consider, what is the problem you are solving or opportunity you want to take advantage of? It is up to you; you need to be clear about objectives and goals (i.e. this must be original idea and not sourced from the company). As in any plan, it needs clear, measurable, and attainable goals. Answer the following questions: As the Marketing Team of this local organization, you will have to: 1.Define your target market. Describe it as detailed as possible using any meaningful variables: sociodemographic, lifestyle, income or budget level, location, education, size... you name it. Remember, there is no business without clients, so you’d better know who they are. 2.Research your competition. Provide a detailed description of competitors, both direct and indirect (substitutive products or services), as well as a Five Forces or a PESTEL analysis. 3.Product: Define the range of products or services that are currently offered. Provide as many details as possible and, of course, compare it with main competitors. Explain product/service differences, features, performance, distribution... anything that will help describe the differentiation that you have. 4.Price: You certainly need to talk about price. Explain the pricing strategy details and why you think the proposed price is appropriate for the market. 5.Place: Explain how you are going to deliver it. What commercial channels you are going to use and why. Describe alternative channels, as well as the difference among channels in case you are using different ones. 6.Promotion: How are you going to get new clients? Explain your promotion plans. Explain which tools you are going to use (advertising, PR, online advertising, social media...) and why. What is your main message? 7.Objectives and Strategies: You will have to create the marketing objectives for the company and the strategies that will help achieve the objectives. 8.Develop the Performance Evaluation Metrics that will determine the success of your plan. If you are unable to find actual data on the selected company, use your best judgment to set budget levels for your marketing activities. Follow the logic of your choice throughout your marketing plan. It is important to be realistic in your plan. The Marketing Plan is being submitted to the CEO/board/owners of the company/ organization and you want them to approve it. You are free to ask for any budget, but you will have to convince them that it is worth it. Work should emulate a professional document that would make it in a real-life job, Title page, table of contents, and Appendices will not be counted for the 12 pages limit, but its content must be relevant. Ensure you are referring to your resources (in-text citations, paraphrasing, etc.), and other academic/reliable literature and resources to back-up your points and ideas. Outline 1.Executive Summary –. This is written after your plan is complete. It is a 1-2 page synopsis of your plan. 2.Environmental Analysis – this is where you describe your problem being solved or opportunity being taken advantage of. You will define your target market any meaningful variables: sociodemographic, lifestyle, income or budget level, location, education, size, etc. 3.Competitive Analysis – Research your competition. Provide a detailed description of competitors, both direct and indirect (substitutive products or services). You should consider a SWOT, Five Forces or a PESTEL analysis to be comprehensive. 4.Marketing Objectives – State the company’s main marketing objectives you want to achieve in the subsequent fiscal year. 5.Marketing Strategies – State the strategies that you will need to implement to achieve the company marketing objectives. 6.Marketing Implementation Activities – You will describe how each of the 4 P’s will help implement the objectives and strategies for the company. Here is some guidance for each P: a.Product – Define the range of products or services that are currently offered. Clearly explain the product/service differences, features, performance, distribution... anything that will help describe the differentiation that you have. b.Price – Explain in full details why you think the proposed price is appropriate for the market. Describe costs, margins, payment options, etc. if you can find them. If not, make assumptions based on industry averages or your best guess. Just be consistent throughout your paper with all assumptions. c.Place – Explain how you are going to deliver it. What commercial channels you are going to use and why. Describe alternative channels, as well as the difference among channels in case you are using different ones. d.Promotion – How are you going to get new clients? Explain your promotion plans. Explain which tools you are going to use (advertising, PR, online advertising, social media...), why and how much it’s going to cost. What is your main message? 7.Performance Evaluation – This includes the metrics and time frame for how the company will assess the implementation of the marketing plan. 8.Conclusion – A summary of what achieving your objectives will mean for the company. 9.Appendices 10.References
