Reference no: EM133369529
Marketing Plan Research & Analysis
To complete an effective and well-informed marketing plan, you will need to conduct a detailed market assessment to fully understand the company, industry, relevant competitors, key customer segments and target markets, and the environment in which their company operates. Applying the market research tools and techniques covered in the course, utilize secondary research to gather and present all of the relevant data required to complete the 5Cs and market segmentation components of your marketing plan. While you will not be graded on spelling, grammar or formatting at this stage of the project, it is critical that you are able to identify all key factors in your market analysis, illustrate how each of the bases of segmentation may be applied in relation to your marketing plan, and provide a reliable estimate of market size for each of the segments identified. Please ensure that you include appropriate references for the data that you have gathered.
COMPANY: Provide data to demonstrate the company's current position in the market. This could include factors such as the company's current size, market coverage, financial position and brand equity.
CUSTOMERS: Detail the current and potential customers in the market. Consider your company's current market share in different customer groups and detail factors related to current customer behaviour (loyalty, purchasing patterns, etc.)
COMPETITORS: Identify the top competitors for your company as it relates to your project scenario and conduct a detailed assessment of their current market position, addressing the same factors highlighted in your company analysis. Include a breakdown of all elements of the marketing mix (product, price, place, promotion) to inform how your company will differentiate in your final marketing plan.
COLLABORATORS: Research the partners & suppliers that your company works with and analyze their relationships. Key factors to evaluate would be the nature of their partnerships (i.e. are they an exclusive supplier, utilized by all competitors in the market segment, or somewhere in between?) and how they are positioned within their industry (i.e. is what they offer unique or better than other potential suppliers in some way?).
CONTEXT: Through application of the PESTEL model or similar market analysis approach, detail the most relevant macro-environmental factors that could impact your company or the success of your market plan. Ensure that you go beyond general trends within the market and are able to relate them directly to your marketing plan scenario.
MARKET SEGMENTATION: Identify all potential market segments that could be served by applying the bases of segmentation. Utilize secondary data to accurately quantify market size and ensure that you have sufficient information to justify your choice of target market and determine the size of the overall market opportunity in your marketing plan.
What is the main goal for the project?
We have one mission at Markman Capital - "We help you achieve financial freedom."
We want to build an educational component that compliments our current financial products and services. We want to identify our main competitors in the DIY financial services sector and from there figure out where we can fit in this landscape.
What tasks will students need to complete to achieve the project goal?
The following tasks will most likely need to be completed -->
• Keywords used
• Subjects taught
• How do these courses manifest? Are they small group sessions? Self-guided courses? Mentoring? Webinars? Discord communities?
• Out of the above, what is most common?
• Out of the above, what are the price ranges and session lengths (EX number of weeks for access to a mentor, or number of classes per course), mode of communications (EX discord servers, slack channels, emails, video calls, etc..)
• What subjects do they teach or are small groups/webinars organized around?
• Does the parent company have a Youtube Channel?
• What social media do they use to advertise these classes? Youtube shorts, tiktok, twitter, etc..
• Does educational firms also sell accompanying products? If so, what?
• Does the educational firms also do in-person events or experiences? Is so, what?
• What other trends do you see in this space?
How will you support students in completing the project?
Students will work closely with the primary project manager who is supervising and available for questions. This will also include progress meetings where adjustments to the students' tasks and duties can be made if necessary.
Access can be granted to Seamless.ai for research purposes as well.
What skills or technologies will help students to complete the project?
Market research, competitive analysis, growth strategy, niche identification for us and for our competitors
Attachment:- Marketing Plan.rar