Reference no: EM133168339

Marketing Plan Assignment

Assignment Overview

In this assignment, you will work in groups that will be pre-assigned by your Professor. In these groups, you complete both Part A and B. For your assignment response, you will submit it in a word document format (APA 7), make sure that each group member's full name and student number are listed on your assignment cover page. The due dates for this assignment are non-negotiable (unless otherwise advised by your Professor). There should be one submission per group.

Guidelines for Completion
In your group, you are to develop a marketing plan, where you will apply marketing objectives and strategies that you have learned, for your company in the upcoming year of 2022.

You will choose ONE of the following scenarios to develop your marketing plan on:

1. W Hotel - Marriott Hotel has announced their first W hotel opening in Toronto located in the beautiful area of Yorkville. The Hotel will be a nine storey, 255 room luxury property, surrounded by Bloor Street's high end shopping boutiques and will feature its own DJ booth and recording studio. Guests will be able to experience this new, vibrant and sophisticated hotel. The W Toronto will undergo a $40 million design transformation, which will reimagine the property's guest rooms, restaurants and amenities. The property is expected to open as W Toronto in Summer 2022.

2. Cheesecake Factory will be opening its second restaurant location in Toronto, located in Eaton Centre. The popular American eatery will be sprawled over 10,000 square feet, have two covered patios and feature the same 250 item menu. The anticipated date of opening is Summer 2022.

3. Helms Briscoe is one Canada's largest event planning intermediaries who work with clients to source event space and help them market their events. Your AG Entertainment Group would like for you to market a new musical festival in August 2022 in Downsview Park, Toronto.

4. Iqaluit is the capital of Nunavut, the largest and fastest growing community in the territory. Tourism has been impacted greatly to the city due to the current pandemic of COVID-19. You are to develop marketing strategies for your marketing plan on how you will increase tourism in 2022 -23.

Your Marketing Plan is to include the following elements:
• Executive Summary
• Vision and Mission Statement
• Branding
• Situation Analysis
• Market Segmentation and Targeting
• SWOT Analysis
• Marketing Strategies including Marketing Tactics (activities)
• Marketing Program
• Evaluation and Controls

Cover Page
• Student full name and student number
• The scenario your group chose
Executive Summary
Provide a broad overview of everything you're about to present in your marketing plan. Include the following:
• Company Profile
• Industry
• Product or service
• Target customers
• Headquarters (city, country)
• Annual revenue (if applicable)
Vision and Mission Statement
Include your company's vision and mission statement in this section.

Branding
• What is your brand's current position in the market?
• Who is your brand and what is its focus?

Situation Analysis
• What is the economic environment that you are currently operating in? Are you in a growth or recovery, or recession economy? How confident are consumers to purchase?
• What is the current political environment? Is the political environment stable?
• What legal considerations do you have to take into considerations?
• Who are your key competitors? How many competitors do you have?
• What is your advantage over competitors?

Marketing Segmentation and Targeting
• What problem does your product or service solve?
• Describe who your potential customers are based on your marketing objectives.
• Explain what your key market segments are within this market?
• Discuss what factors affect your target audience's purchasing and spending patterns?
• Identify and describe two (2) market segments that your company already serves
• Which segment does this marketing plan focus on, and why?

SWOT Analysis
Complete the SWOT analysis below in a similar table format: (list three points for each SWOT)
Marketing Strategies for Upcoming Year (2022-23)
• List five marketing goals that your company will accomplish for next year (one year).
(Goals should be written in the SMART format (i.e. our goal is to increase our market share for leisure travelers by 20% at our hotel by creating a "stay and play package" and marketing it on our brand website)
• For each marketing goal, list tactics on how you will achieve your goal
• Which marketing channels you will integrate into your goals to help you achieve them? (i.e. content marketing, blogs, email marketing etc.)

Marketing Program
Explain how you will position your product or service using the marketing mix (4 P's - Product, Place, Price, and Promotion)
Evaluation and Controls
What resources and tools will provide you insight to learn the success or unsuccess of your marketing objectives?
Spelling, Grammar, and Punctuation
Please ensure your marketing plan looks professional and you check spelling, grammar, and punctuation.
** Please note you must use APA 7 citations, referencing, and formating