Reference no: EM132418680
FINAL MARKETING PLAN PROJECT
RECOMMENDED BUT NOT REQUIRED The Marketing Plan Handbook by Alexander Chernev.
Overview:
For this assignment, I will allow you to choose your own organization/company. Please write to me by no later than November 14th about your choice. I will need to approve it. This Marketing Plan Project will be your Final assignment and accounts for 35% of your grade.
Strategy
Strategy is the heart of the plan - objectives, value proposition and the choice of target market, positioning of the product, product strategy, pricing strategy, communication strategy, and distribution strategy, and appropriateness and feasibility of the implementation strategy are all critical aspects of an effective marketing plan. Strategy is developed by identifying the needs in (a) target market(s) and designing a marketing strategy to deliver a market offering to this market. To that end, you will need to collect, analyze and interpret data on customers, the market, competitors, and your firm, as is relevant to the business/ business case.
You should strive to present this data in an organized, readable, and succinct format with references to sources of data. In your plan, make sure that you explicitly discuss how you arrived at each of your strategic decisions from the data and analysis that you present. Avoid making sweeping statements, or statements that aren't backed up with sources. Don't assume the reader will reach the same conclusions you do - guide them in interpreting the data. At the end of each section (situational analysis - which includes the company overview, market overview - goals, tactics, implementation, and control), explicitly specify the key implications of the analysis on your subsequent strategy development (ask yourselves: what did you learn from this analysis?)
Keep in mind that for readability, it may be better to include some of the detailed data in the appendices, rather than in the body of the text. However, if you do, be sure to reference and discuss any charts, tables, and figures in the text of your plan. Do not include any charts, tables or figures that you do not explicitly reference and discuss. Doing so will negatively impact your score.
In preparing for cases prior to class, I suggest the following procedure:
• Read the case overview in the assignment and the introduction to the case itself. This usually identifies the key manager(s) (the "protagonist") in the case, and gives an indication of the protagonist's situation.
• Skim the case. What kind of information does the case contain? What is in the exhibits? This lets you preview where the case is going and what information might be relevant to the protagonist's situation.
• Go back and read the case again thoroughly. Consider the following issues in your reading.
• Analysis: What is the situation facing the managers involved? This is the core of the course, and the foundation on which all decisions are made.
• Diagnosis: What's the problem or opportunity here? What in the situation requires action on the part of managers? This can be an opportunity for creativity; the problem that managers suggest may not be the most important problem.
• Plan of Action: What are you going to do?
• Reality Test: How will you make your plan work?
• Case Discussion Participation. Please know that quality of contribution (meaningful insights that help us progress in our discussion of the topic) far outweighs quantity. It's not about always about "being right" in what you say - very rarely in business is there only one "right" answer.
Rather, it is the degree to which you make a responsible effort to facilitate idea flow and advance classroom discussion. In addition, you will need to attentively follow the discussion in class so that your comments will build from what others have said. Clarity and conciseness will be highly valued.