The Marketing Plan

What is the point of a blueprint?

The Marketing Plan For your summative you and a group of 4 will be building a marketing plan – The summative is worth 15 % of your mark – The written exam will also be worth 15% The summative will be “hands on” marketing – The exam will be marketing theory You will be marked on: – Creativity & Realistic Ideas – Supporting your ideas to the class material – The individual contribution that you have brought to your group

The Marketing Plan The Marketing Plan is a 6-10 page written report on your group’s marketing objectives for your product/service This report will show the reader, step-by-step, what you feel needs to be done in order to make your product/service successful

The Marketing plan The report will be broken up into several sections 1.Executive Summary 2.Company Description 3.Market Overview 4.Market Analysis 5.Marketing Strategies (4P’s) 6.Appendices

The Executive Summary This will be the first page of your report, but This will be the last part you will complete The executive summary will be a “Cole’s Notes” version of your entire report – It will include highlights from the entire report A one page summary of your marketing plan Includes your mission & goals for your product/service

Company Description This will be the section of the marketing plan that will introduce your product/service and explain what you are selling You will introduce your – Company & Brand Name – Your Team Members Titles & Responsibilities A full description of your product/service and what needs/wants are being satisfied A brief introduction to you target market

Market Overview This section can also be titled “Competitor Analysis” Your group will analyze the market that you are about to enter – Who are your competitors (indirect/direct) You will analyze each competitor (weaknesses & Strengths) Explain how you are going to position your product/service compared to your competition

Market Analysis This section will include a lot of information from your market research You will have collected primary and secondary research on your idea, as well as your entire market What demographics were considered and ultimately, what segment of the population did you chose for your target market and why?

Marketing Strategies (4P’s) You will take the reader through the 4 P’s for your product/service completely This will be the longest section of your report by far Price – How are you choosing to price your product/service – What strategies are you implementing Market Skimming, Psychological Pricing, etc. – What do you expect your Break-Even # to be?

Marketing Strategies (4P’s) Place (Distribution) Where will your product/service be available to your consumers? What distribution strategy will you employ? – Direct, Online, Wholesale, etc. Are there any distribution concerns that your group has to consider?

Marketing Strategies (4P’s) Product A description of the product/service that your group has created Details on the product design, package, contents, etc. How is your product/service unique – What is your Competitive Advantage over the competition

Marketing Strategies (4P’s) Advertising and Promotional Campaign You are required to come up with an advertising campaign (not just one advertisement) – This will include a print advertisement and possible other advertisements (TV and radio commercials, billboards, etc) What promotions will you employ? – Free Samples, sales, coupons, etc. How will you manage your PR? – Sponsorships, charities, events, etc. What trends will you take advantage of? – Green, Social Networking, Brand Engagement What will be your logo and slogan? – Why do you feel these are good for your marketing communications

Marketing Strategies (4P’s) Advertising and Promotional Campaign Take the reader through your choice of media – Why specific media was chosen Explain the benefits of your advertising and promotional campaigns Explain the reasoning for the content of your advertisements – Consumer Motivation, Buying Process

Appendices The last section of the marketing plan will be the appendices This section will include any pictures/objects that are not in text form for you to refer to in the actual written report Things like: – Charts, Graphs, Position Maps, Logos, Advertisements, Story Boards, Surveys, Product Designs, Packaging Specs, Mathematical Calculations, etc.

Appendices Example – Report: The Mustang Market will be targeting students that are new to BCI and are involved in clubs and sports. The survey completed indicated that the majority of these students would shop at the Mustang Market at least twice a month. Refer to Appendix A for a breakdown of the different demographics

Appendix A

Appendices Example – Report: The choice for the Mustang Market’s logo will be two horseshoes, both turned upside down, in order to make an M. The logo will have a mustang decked out in spirit wear. (see appendix B) – Appendix B:

The Marketing Plan I expect you and your group to – Type the report – Double Space the Report – Reference any material from books/internet – Put every Section Under Headings – Include a Title Page – Include a Table of Contents