Warm-up 1. Regarding the research paper, what was the easiest part? Why? 2. What was the most difficult part? Why? 3. What did you learn most from completing the research paper?
Marketing Plan Stuff
STEPS Cover Page Title: Practicum Challenge Subtitle: Marketing Plan Client Name Team Members 2. Executive summary – (one page summary of what you wrote in your Marketing Plan….save this until the end.) 3. Table of Contents (What’s going to be in the paper and on what page?)
Step 4 4. Business Overview (4P’s analysis product, price, place, promotion) a. Description of the business and its structure (sole proprietorship, general partnership, limited partnership, LLC, LLP, S Corp, C Corp, etc.) and why it’s important. b. Summary on what industry the business competes in. c. Description of the product(s) sold, price(s), location, and current promotion strategy d. Economic analysis of products (elasticity, substitute, and complementary goods) e. Estimated market size and business growth/decline
Steps Target Market(s) Analysis: (What is the business’s current target market and is it appealing to its target market? Why or why not?) 6. Competitor Analysis (Examine your client’s competitors and learn what they do similarly and differently in terms of business strategy.) 7. Positioning Statement and Perceptual Map (Explain in writing and visually via a perceptual map on how your client differs from its competition.) 8. Summary of Business Client’s challenges
Steps 9-11 (The Nitty Gritty) 9. Promotional Strategy Recommendations and Alternatives a. Students will select a primary strategy and b. 2 alternative strategies 10. Other Business Strategies (technology, operations, human resources, expansion ideas, etc.) a. Students will select a primary strategy and b. 2 alternative strategies 11. Financial Projections of Primary Recommended Strategies (If the business decides to implement your recommendations, how much money will the business stand to bring in or save?)
Works Cited APA in-text APA Works Cited