see attachments
Marketing Plan
Strategic Marketing Management
Student Name
Name of Company
Address of Company
Email address of company
Phone number of company
Date compiled
Based on professor feedback from your Unit III submission and your continued research, add the final revision of Section I of your marketing plan here.
professor feedback
Good company background.
Good brand selection
Good job explaining why you selected this organization.
Good discussion of the industry.
Good competitive analysis. Good job including at least two competitors.
Good PEST analysis. Excellent number of elements in each quadrant.
Excellent number of resources.
I would have liked to see a stronger identification of marketing strategies you plan to use.
Please double-check comments for grammar and spelling errors.
Marketing Plan – Section II
Executive Summary
One-to-two page summary of the marketing strategy
Company Description
Highlights of the firm’s historical and recent operations
Strategic Focus and Plan
Proposed new mission – this should be a new and revised mission statement
Proposed new goals – include a minimum of three new goals for the firm you have selected.
Core competencies, sustainable advantage to return to competitiveness, and ethical issues – core competencies include a discussion of what you do best. How can you leverage your core competencies to create a sustainable competitive advantage? Ethical issues could include a discussion of your environmental impact, labor-related issues, and quality of products and/or services given.
Situational Analysis
SWOT Analysis – this includes your strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal, and opportunities and threats are external (from the perspective of the organization). Provide a simple SWOT analysis summarizing the external and internal environmental conditions surrounding your company (details of SWOT on following pages). It should include more than one characteristic under each area of the SWOT.
Market-Product Focus
Proposed marketing objectives – include at least one tangible objective here. This would include an objective that can be associated with a specific and achievable metric (i.e., a specific number of sale, amount of new customers).
New target market(s) – identify your new target market of focus. Be specific.
Brand/Product positioning – how will you differentiate the brand from the perspective of price, quality, and/or other characteristics? What are your product development strategies?
Marketing Mix and Integrated Marketing Communications
In your final submission, please include the bold headings below:
Product Strategy
Product Characteristics. Elaborate on the product line that you will focus on for the marketing strategy. Remember that product includes the following:
Goods and services. Include details of your products.
Warranties, service contracts. Unique services & warranties offered
Product life cycle. Discuss the stage of the product life cycle and how it affects your products.
New product development. This may only be relevant in some situations.
Branding & Packaging. How is branding accomplished within your organization? Do they have specific packaging techniques (physical products)? How effective are its branding strategies? Use of logos, themes, etc.? Use examples to substantiate.
Price strategy
Price is one of the four major strategy decision variables that a marketing manager controls. Price decisions affect both the number of sales a firm makes and how much money it earns. Price is what a customer must give up to get the benefits offered by the rest of a firm’s marketing mix, so it plays a direct role in shaping customer value.
Describe the pricing strategies used by your company.
Theoretical aspects of pricing strategies. Do your organization’s pricing strategies tend to be below-the-market, at-the-market, or above-the-market? Are the customers price sensitive? What types of geographic terms, discounts and allowances are offered? What about price reductions? Explain the organization’s pricing rationale.
Promotion Strategy
Key points to remember:
Promotion is communicating information between the seller and potential buyer or others in the channel to influence attitudes and behavior.
The promotion part of the marketing mix involves telling target customers that the right Product is available at the right Place at the right Price.
Promotion must be fine tuned for a specific target market.
Promotion must also fit with the other variables in the marketing mix – and it should reinforce the strategy’s differentiation and positioning.
Recall that differentiation means that the marketing mix is distinct from and better than what is available from a competitor, and positioning refers to how customers think about proposed or present brands in a market. A marketing manager needs a realistic view of how customers think about offerings in the market.
Promotional Mix
Marketing managers can choose from several basic types of promotional methods which include personal selling, advertising, sales promotion, internet marketing, social media, and publicity.
Identify what your organization uses in the way of a promotional mix.
Are there promotional campaigns, themes and strategies that your company is using or has used in the past?
Distribution or Place Strategy
Integrated Marketing Communications
Financial Data
Provide one or more spreadsheets that detail your marketing budget and the activities that will comprise if for 3 to 5 years. Indicate by category of activity all planned marketing spending for the execution of your marketing strategy, broken down into as many of the following categories that apply:
Advertising (creative and media expense)
Direct marketing (direct mail and/or telemarketing expense)
Internet marketing (e.g., website, banners, social media)
Consumer promotion (e.g., discounts, samples, coupons, rebated, contests)
Trade promotion (e.g., allowances/discounts to your distribution channels)
Sales force expenses (e.g., salary and fringes, sales materials, commission, travel)
Public relations (non-paid media)
Customer service (e.g., inbound order taking, customer support)
Other (e.g., sponsorships, events)
Use your best estimates in this section. Please note that this is not a finance or accounting class.
Organization
Expansion, Implementation, Evaluation, Control Plan, and Analytics Planning
How will you manage expansion (domestic and/or international).
In terms of implementation and evaluation, what is your timeline? Include an action item list (with dates) to clarify this.
What controls will you have in place to manage difficulties and hurdles? Think of contingencies you might have to address this.
What analytics will you use to evaluate your marketing efforts? This should refer to website and/or social media efforts and planning.
Conclusions and Recommendations
Include your concluding thoughts and recommendations in this section. Bring it all together in a summation of your marketing plan.
References
Include ALL sources from all three sections of your plan here. All references must be in APA format.
