Reference no: EM133586662

Assignment: Marketing Plan Project

A significant portion of your career in business and marketing will involve working with others towards a common goal. There will be many cases in your career where you will need to present material to colleagues in a clear and concise manner. This project is designed to give you an opportunity to apply your marketing management knowledge as well as to develop your innovative skills.

Task

I. You will develop a comprehensive marketing plan for an upcoming product release of your choice. A list of Kickstarter products to choose from will be posted in Moodle.

II. The written plan should cover AT LEAST the following items:

A. Table of Contents & Executive Summary (1-2 sentence synopsis of every section)

B. Introduction & Brief history of the firm 4

C. Description of your product's competitive environment and other products marketed by the firm:

1. Recent sales/profit history of the firm

2. Industry overview and trends (support with data/statistics)

3. Key competitors

D. Marketing Plan:

1. SWOT analysis

2. Target markets

3. Segmentation base(s)

4. Marketing mix:

a. Product: positioning, perceptual map label/package * Pricing: pricing strategy

b. Distribution: market coverage, channels structure(s) (includes the Internet if used for direct sales)

c. Promotion:

i. Advertising (TV, newspaper, magazine, on-line, etc.)
ii. Personal Selling (salesforce organization, size, sales rep. role, etc.) - Sales Promotion (use of contests, rebates, coupons, in all media)
iii. Public Relations (description of PR efforts for new/existing products & programs that would promote social responsibility)

Note for the most part, these products are in the introductory stage with regard to life cycle so your marketing plan should reflect this reality. Analyze whatever information is available on current strategies. However, your main role is to determine the appropriate marketing plan that should be followed by the company going forward.

Finally, you need to recommend 3 growth strategies for the organization.

E. Recommendations:

1. Choose only one of the product-market strategic growth opportunities (i.e. market penetration, market development, product development, diversification) and explain why it is being recommended for your product/company.

2. Provide 3 recommendations as to how the marketing plan (target market, segmentation, marketing mix-each of the 4 P's) will need to be modified in order to implement this strategy.

3. Based on these recommendations, you are required to submit at least 2 TANGIBLE examples/prototypes of how they would implement their strategies (promotional materials, signage, website mockup improvements, social responsibility initiatives, etc.)

F. Appendices (tables, charts, etc.)

Note this is a GENERAL outline. The specifics of your project are largely up to you, but be sure to include marketing concepts and terms discussed in class and found in the text. Your plan should be attention-grabbing, and your ideas and strategies should be fundamentally sound. It should be clear that you know the major functional areas of marketing and how they apply to the situation.