Reference no: EM133391687

Strategic Marketing

Marketing Plan

INTRODUCTION

The assessment of this module is a written marketing plan. Each group is asked to develop a strategic marketing plan for a company, and one of its products in particular, of their (the group) choice.

• The company should sell to consumers rather than other businesses. It may sell goods, services or both. It can be from any part of the world. It could be a not-for-profit organisation provided it has products that are sold to individuals, e.g. a charity selling goods to raise money for the charity's work.

• You are encouraged to obtain secondary data on the company, its market and its competition. This can be supplemented by your own examination of its products, target markets, and communications, to that extent as you can observe them from outside.

• A template plan is attached. The plan deals with an existing product (or service) of the company, which you can choose.

• The plan could include an additional maximum of 2 pages for any appendices

• A reference list must be included. This reference list should show, for example, the source of any secondary data you have used. The reference list does not count towards the page length.

Assessment

The plan will be assessed on the following criteria:
• Use of tools: Appropriate application and plausible interpretation of tools and techniques covered in the module
• Use of data: Informing the plan with secondary data where available or the
group's own observation where possible
• Commercial awareness: Using mature judgement as to what actions will deliver the best commercial returns
• Integration and presentation: Presenting professionally and integrating the sections of the plan so that it makes a coherent and persuasive argument.

1. MISSION AND FINANCIAL SUMMARY (1 PAGE APPROX - GUIDELINES ONLY)

Introduction
Very briefly introduce the company you are planning for, and the current product you are planning for in sections 3 and 4
Mission statement
Make brief statements about the following points:
Role or contribution of the unit:
Definition of the business:
Distinctive competence:
Indications for future direction:
Summary of business performance
Summarise briefly the business's current performance and why it is good/bad. A possible template,
depending on the data available, or just write a sentence or short paragraph.
Summary of financial projections
Summarise your intended financial results over the planning period (typically 3 years). You can present this in a table format or just write a sentence or short paragraph.
Assumptions
Document any key assumptions on which your plan depends. Assumptions should be few in number. If the plan can work irrespective of an assumption, don't include it.

2. MARKET OVERVIEW (1.5 PAGES APPROX)
Explain briefly how the market works. While real plans might include PESTLE and market maps, for this plan please just include Porter 5 Forces and segmentation.
Forces affecting industry profitability
Include a Porter 5 forces analysis with a brief commentary. Here is a possible template.

Market segmentation
Include a segmentation of the market. Briefly justify your chosen segmentation method. If the firm makes very diverse products, focus on one current product (see Introduction in section 1 above).

3. SWOT AND PORTFOLIO SUMMARY: [PRODUCT NAME] (2 PAGES APPROX)
For the current product you are focusing on, analyse your strengths and weaknesses in each segment using (critical success factor analysis). Add a brief commentary for each table/graphic on what you conclude. Use these templates or your own equivalents (e.g. from Excel) as you prefer.

4. OBJECTIVES AND STRATEGIES (2 PAGES APPROX)
List key objectives and strategies here for the current product you are focusing on. Here is a possible template. Optionally, you may wish to include a future version of the Directional Policy Matrix showing the impact of your objectives and strategies.

Provide a brief statement about how the objectives and strategies that you have set for this product
will support the organisation's overall mission.

MARKETING PLANNING PROCESS (one paragraph max.)
Marketing planning is a cross-functional activity. Reflect on the process of preparing the marketing plan. Who in the organisation needs to be involved at the stage of analysis? Who needs to be involved in agreeing the strategy? Who needs to implement the plan? And who needs to monitor it? Explain how you intend to get these various departments involved.

CONCLUSION - ‘THE ELEVATOR PITCH'

Imagine you have just bumped into the CEO of your company while travelling in the lift of your building. Suddenly you have the opportunity to convince the most powerful person in your company that your plan is a good one. Write a brief 50 word statement of the benefit of your plan to your organisation. Make sure you take into account the analysis and objectives you've set in this document. This chance meeting may have a profound impact on whether your plan wins financial support - but remember he/she is a busy person and won't have more than 30 seconds to listen to you!

Attachment:- Marketing Plan Brief and Template.rar