Reference no: EM132216931
Assignment 2: Marketing Plan
This assignment consists of two (2) sections: a marketing plan and sales strategy, and a marketing budget. Note: You must submit both sections as separate files for the completion of this assignment.
For the first six (6) months your company is in business-to give you time to perfect your product and to learn from actual customers-you will start marketing and selling in your own community, a radius of twenty-five (25) miles from where you live.
For most non-alcoholic beverages, marketing (as opposed to the actual product itself) is key to success. Cola drinks, for example, are fairly undifferentiated, as are many energy drinks, juices, bottled water, and the like. Companies producing these types of beverages differentiate themselves and attract market share through marketing and brand awareness-both of which are critical to success.
Section 1: Marketing Plan & Sales Strategy (MS Word or equivalent)
Write the three to four(3-4) page Marketing Plan & Sales Strategy section of your business plan, in which you:
1. Define your company's target market.
a. Analyze the types of consumers who will be drinking your beverage in demographic terms (i.e., age, education level, income, gender, ethnic group, etc.). Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).
b. Outline the demographic information for your company specified on the worksheet in the course text (p. 107 | Demographic Description).
2. Assess your company's market competition.
a. Use the factors listed in the course text graphic (p. 123 | Assess the Competition) to assess your company's market competition.
b. Defend your strategy to successfully compete against market leaders in your segment.
c. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text (p. 131 | Market Share Distribution).
3. Clarify your company's message using the information provided on the worksheet in the text (p. 160 | The Five F's).
4. Identify the marketing vehicles you plan to use to build your company's brand. Justify the key reasons why they will be effective. Provide examples of other non-alcoholic beverage companies that use these tactics effectively.
5. Format your assignment according to these formatting requirements:
a. Cite the resources you have used to complete the exercise. Note: There is no minimum requirement for the number of resources used in the exercise.
b. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
c. Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date.
The cover page and the reference page are not included in the required page length.
Section 2: Marketing Budget (MS Excel worksheets template)
Section 2 uses the "Business Plan Financials" MS Excel template (see: Course Required Files in Week 1). Use the "Business Plan Financials Guide" (see: Course Required Files in Week 1) to support your development of the Marketing Budget.
6. Complete the Marketing Budget worksheet for your company.
o Begin in the current year and complete a marketing budget for the first year of your business. The information you enter in the marketing budget spreadsheet will flow through to your "Income Statement" in the Business Plan Financials.
o Leave the number at zero (0) for any marketing vehicles you do not intend to use.
o Remember that all marketing activities involve costs. If social media represents a significant portion of your marketing, assume you will have cost of advertising and that should be reflected on your budget. Even if a social media site charges nothing to use it, you will need to use company resources to manage the site, pay someone to execute your social media marketing campaigns, and will most likely pay for ads on that site.
o Do NOT leave the "Marketing Budget" blank, assuming you will not have any marketing costs.
The specific course learning outcomes associated with this assignment are:
• Recommend effective business strategies based on an analysis of domestic and global operating environments, market dynamics, and internal capabilities.
• Analyze competitive positions including foreign market entry and the resulting impact on business strategy.
• Use technology and information resources to research issues in strategic management.
• Write clearly and concisely about strategic management using proper writing mechanics.
Assignment 3 Part 1: Operation, Technology, and Management Plan
Use the NAB Company Portfolio to complete this assignment.
Write a three to six (3-5) page paper in which you provide the following information below.
Operations Plan (1 - 2 pages)
Note: Remember to assign a dollar amount to each operational cost you find, as you will need these figures for your income statement and cash flow in Week 8.
1. Create an operations plan for your NAB company using the template in the text as a guide (p. 214 | Operations Plan Preparation For. Extract appropriate information from the NAB Company portfolio, where applicable. Other required items in the template should be filled in using your personal preferences.
2. Provide a rationale for the competitive advantages section using appropriate functional-level and business-level strategies to explain the competitive advantages.
o Note: Much of the research pertaining to the hints provided here can be found in the NAB company portfolio.
3. Describe your research and development activities and explain how they will contribute to the company.
Technology Plan (1 - 2 pages)
4. Create a technology plan for your NAB company using the template in the text as a guide (p. 227 | Technology Plan Preparation Form). Extract appropriate information from the NAB Company portfolio, where applicable. Other required items in the template should be filled in using your personal preferences.
5. Provide a rationale for the personnel needs section by incorporating appropriate functional-level strategies.
6. Create a management plan for your NAB company using the template in the text as a guide (p. 248 | Management Plan Preparation Form). Extract appropriate information from the NAB Company portfolio, where applicable. Other required items in the template should be filled in using your personal preferences.
7. Using the flow charts on p. 242 as a guide, outline your company's management hierarchy. Note: Charts or diagrams must be imported / included in the MS Word document.
8. Provide a rationale for the management structure and style section by incorporating appropriate functional-level strategies.
9. Format your assignment according to these formatting requirements:
a. Cite the resources you have used to complete this exercise. Note: There is no minimum requirement for the number of resources used in the exercise.
b. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
c. Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date.
The cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this assignment are:
• Create a plan to implement a firm's strategy and manage the change from current operations.
• Describe strategic planning techniques used to formulate alternative strategies designed to achieve stated business goals.
• Use technology and information resources to research issues in strategic management.
• Write clearly and concisely about strategic management using proper writing mechanics.
Assignment 3 Part 2: Business Plan - Draft
This assignment consists of two (2) sections: a draft of your business plan and an income statement containing your business plan financials (i.e. Week 7 Discussion "The Financials"). Note: You must submit both sections as separate files for the completion of this assignment.
You must intend to raise money for your startup company. You can start with money from friends and family but at some point, you will need funds from outside investors, either angels or venture capitalists, depending on how much money you project you will need to raise.
Another possible angle is to develop money through crowdfunding, assuming your product meets the demand of such audiences.
Before you can raise money, you must develop a business plan that convinces an investor that your company will succeed.
Section 1: Business Plan (MS Word or equivalent)
Read Chapters 18 and 19 of the course texts: Successful Business Plan. Use the Plan Preparation Forms at the end of each chapter of
Successful Business Plan as a rough guide.
Write an approximately twelve to seventeen (12-17) page draft of your business plan in which you:
1. Revise the components of the following previously submitted sections based on the feedback you have received.
1. a. Company Description (Assignment 1)
b. Industry Analysis and Trends (Assignment 1)
c. Strategic Position & Risk Assessment (Assignment 1)
d. Target Market (Assignment 2)
e. Competition (Assignment 2)
f. Marketing Plan & Sales Strategy (Assignment 2)
2. Create an Ethics & Social Responsibility Plan.
Note: The Ethics & Social Responsibility plan should account for approximately three to five (3-5) pages of the Business Plan Draft.
2. a. Describe the ways in which your company is committed to be a good corporate citizen.
3. b. Discuss how your company's activities will affect the environment and identify the steps you will take to mitigate any negative impacts.
4. c. Determine any health issues / claims related to the product you are making, whether negative or positive. Suggest the strategy your company will use to mitigate any negative issues, and to ensure any positive claims are true.
5. d. Many beverage products have negative health impacts on certain segments of a population (e.g., children, pregnant mothers, etc.).
Suggest your company's plan, through advertising, distribution, and / or other methods, to target and reach only appropriate market segments.
3. Format your assignment according to these formatting requirements:
a. Cite the resources you have used to complete the exercise. Note: There is no minimum requirement for the number of resources used in the exercise.
b. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
c. Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date.
The cover page and the reference page are not included in the required page length.
Section 2: Business Plan Financials (MS Excel worksheets template)
4. For year one, revise and submit the Income Statement, Cash Flow Projections, and Balance Sheet sections from the "Business Plan Financials" MS Excel template (see: Course Required Files in Week 1).
The specific course learning outcomes associated with this assignment are:
• Describe strategic planning techniques used to formulate alternative strategies designed to achieve stated business goals.
• Create a plan to implement a firm's strategy and manage the change from current operations.
• Analyze strategies for exerting the internal leadership needed to drive the implementation of strategic initiatives and improve operating excellence.
• Use technology and information resources to research issues in strategic management.
• Write clearly and concisely about strategic management using proper writing mechanics.
Assignment 4: Presentation
After you have fleshed out your business plan you will have the information you will need for a slide presentation (e.g., PowerPoint). This 12-slide presentation conveys the most important aspects of your business in a short time. More sophisticated investors, such as angel investors and venture capitalists, will typically not look at your written business plan until they have seen your slide presentation.
Presentation (MS PowerPoint or equivalent)
1. Create a 12-slide presentation. Follow the outline on pp. 343-346 for the critical slides of your presentation and their placement.
2. Cite three (3) resources you have used to complete the exercise.
o Citations and references must follow APA format. The reference page is not included in the required page length
The specific course learning outcomes associated with this assignment are:
• Describe strategic planning techniques used to formulate alternative strategies designed to achieve stated business goals.
• Create a plan to implement a firm's strategy and manage the change from current operations.
• Analyze strategies for exerting the internal leadership needed to drive the implementation of strategic initiatives and improve operating excellence.
• Use technology and information resources to research issues in strategic management.
• Write clearly and concisely about strategic management using proper writing mechanics.
Assignment 5: Business Plan - Final
This assignment consists of two (2) sections: your final business plan and your business plan financials. Note: You must submit both sections as separate files for the completion of this assignment.
You have completed all of the necessary sections of your business plan and will now create a final draft. Use any / all feedback you have received to polish your plan to the point that you could confidently show it to investors and potential partners or customers.
Refer to the Outline of a Business Plan, beginning on p. 399 of the course text.Not all businesses will include all of these components in this order but use the outline as a guide. Specifically, your plan will not require the Development, Milestones, and Exit Plan section of the business plan.
Section 1: Business Plan (MS Word or equivalent)
Construct a ten to thirty (10-30) page business plan. Note: Twenty (20) pages are sufficient for most businesses.
1. Write a one to three (1-3) page executive summary for your business plan, in which you justify:
a. A clear and concise business concept.
b. A thoroughly planned business concept.
c. A capable management structures.
d. A clear-cut market needs.
e. Significant competitive advantages for your business.
f. Realistic financial projections.
g. That investors have an excellent chance to make money.
h. A realistic and developed exit plan.
Note: Read Chapters 4 and 18 of the course text Successful Business Plan . Use the plan preparation worksheets on pp. 58-61 and the sample executive summaries on pp. 62-66 to help guide you, choose to write either a synopsis summary or a narrative summary, and include highlights from the each section of your business plan.
2. Combine all of the sections stated below and revise your initial business plan draft, which you submitted in Week 8, based on feedback you have received.
o Executive Summary
o Company Description (Assignment 1)
o Industry Analysis and Trends (Assignment1)
o Target Market (Assignment2)
o Competition (Assignment2)
o Strategic Position & Risk Assessment (Assignment1)
o Marketing Plan & Sales Strategy (Assignment2)
o Operations Plan (Assignment 3 Part 1)
o Technology Plan (Assignment 3 Part 1)
o Management & Organization (Assignment 3 Part 1)
o Ethics & Social Responsibility (Assignment 3 Part 2)
o The Financials (Week 7 Discussion)
3. The Financials and the Management description-must spark enough interest to convince a reader to continue. Enhance the two (2) mentioned sections to appropriately engage the reader.
4. Format your assignment according to these formatting requirements:
o Cite the resources you have used to complete the exercise. Note: There is no minimum requirement for the number of resources used in the exercise.
o Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
o Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required page length.
Section 2: Business Plan Financials (MS Excel worksheets bundled with course textbook)
5. For year one, submit a revised Income Statement, Cash Flow Projection, and Balance Sheet from the "Business Plan Financials" Excel template based on your feedback from Project Deliverable 4: Business Plan - Draft.
The specific course learning outcomes associated with this assignment are:
• Describe strategic planning techniques used to formulate alternative strategies designed to achieve stated business goals.
• Create a plan to implement a firm's strategy and manage the change from current operations.
• Analyze strategies for exerting the internal leadership needed to drive the implementation of strategic initiatives and improve operating excellence.
• Use technology and information resources to research issues in strategic management.
• Write clearly and concisely about strategic management using proper writing mechanics.