Reference no: EM132423502 , Length: 6

AGEC 385 Marketing Plan Assignment

You will be responsible for developing a complete marketing plan for an approved venture of your choosing. The marketing plans will need to be complete and thorough and demonstrate that you understand what is required for promoting a product. The marketing plan will be graded in several phases. The Marketing Plan will be graded using a Rubric focused on the following topics: Business Formatting (10%), Grammar (20%), Market Research (20%), Budget and metrics (20%), Competitive Analysis, Marketing Strategy (20%), and References (10%).

Outline Format for the Marketing Plan

Executive Summary
• Summarize the overall plan in broad strokes. Highlight the most important parts.
• Should be concise enough that a person could read it in approximately 2 minutes and have a basic understanding of your plan.

Current Situation: Internal
• What is your organizations mission, and how will the marketing plan support it?
• What resources will be needed for the plan?
• What critical elements could make the difference between outstanding and poor marketing performance?
• What strengths and weaknesses do internal factors represent for my organization?

Current Situation: External
• What are the most important external trends affecting my marketing?
• What opportunities and threats do external factors pose to my organization?
• What types risks is the business dealing with?

1. Competitive Factors
• Who are my current competitors and what industries could become competitors in the future?
• Market share of each competitor

2. Marketing Strategy (Targeted Segments and Service Requirements)
• What are my goals and expected outcomes?
• Who are my customers? Demographics?
• How will we do customer service?

3. Marketing Direction and Objectives
• Specific objectives for your business and how you plan to progress

4. Product Strategy
• What is your product and how is it different?
• Features, advantages, and Benefits of the product

5. Pricing Strategy
• Fixed and variable costs
• Breakeven volume
• Competitor pricing
• Promotional pricing

6. Communications and Influence Strategy
• How will you advertise?
• What types of sales promotions will you use?
• How will public relations be completed?
• Will you use direct marketing strategies? Personal selling strategies?

7. Channel Strategy
• Retail locations versus online?
• Why did you choose the locations? Online?

8. Financial and Forecasts
• What are the costs associated with the marketing plan?
• Who will do what tasks?
• Management assignments?
• Expected profit and loss analysis
• Marketing budget

9. Implementation, Metrics and Marketing Control
• Contingency plans
• Implementation schedule for the phases of the plan
• What measures can we assess to make sure that we are successful?

6 pages