Create a marketing plan for a business idea

Assignment Help Marketing Management

Reference no: EM133529330

Question: You will create a Marketing Plan for a business idea of your choice.(this is a new ideas. You will NOT be plan for an existing business or product) You will focus on identifying a target market (consumer or business) whose needs are not currently being met, not being met satisfactorily or even recognized. You should also think about competitive offerings, and how your offering will be communicated and delivered.

Follow the sample marketing plan outline below. Make sure you title sections and then provide a response. Make sure you complete the plan in order.

Sample Marketing Plan

Some parts of the marketing plan will be written paragraphs and some parts will be bullet points, graphs, charts, pictures, etc.

Define the Business Mission - explanation of a mission is provided in your textbook. You may also want to google different businesses mission statements. Make sure that you address the questions - What type of business are we?
Goals and objectives - make sure they are measurable and specific
Product/Service Description - The product description should be brief - only one to two sentences. You will provide more depth about the actual features later in the plan.
Situational Analysis -
1. First, complete an environmental scan by looking at factors like economy, technology, demographics, political/legal, cultural, competitors. Don't talk about your product just the industry in which you will complete
2. Complete SWOT analysis of your product/company. Make sure you provide good detail/depth to your analysis
Segmentation - The bases for segmentation is listed on page 172 exhibit 9.2 of your textbook. This is a great place to identify some good choices for segmentation as well as the chapter material. You should plan to select at least 2 different categories.
Target Market - Use the segmentation bases to help you identify your target market.
Positioning Strategy - What positioning method (value) that your product will offer in the market place.
Product/service Characteristics & Features - Include the product classification (type of product), individual product decisions including product attributes, branding, packaging, labeling and support services.
Pricing - Company objectives and pricing strategy, costs, and pricing strategies
Place - Distribution plan for your product and what retailers will carry the product
Promotion - Develop the IMC plan for your product include information on your advertising, sales promotion, personal selling, public relations, etc.(Make sure your promotional plan ties back to your target market)

Reference no: EM133529330

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