Assignment:
Research your product or service.
Try to complete most of your research.You will probably have to look for more sources as you begin to write. Your sources will be most useful in Part 1, where you are analyzing the current situation. Research will be incorporated throughout your presentation and need not be submitted separately.
Look for academic sources that use a review or editing process. This means that, although you will be using the company's website, it should only provide background on the product; it should not be the primary source for your analysis. Most of your information will come from databases (e.g., Hoover's), popular business publications (e.g., the Wall Street Journal, Business Week, industry trade journals), and government data (e.g., census data and trends).
You can use the UMUC virtual library in your online classroom. If you need help finding information, be sure to contact a virtual librarian or ask your faculty member for help.
Step 3: Prepare Marketing Plan Term Project, Part 1 (worth 30% of final grade)
A. Current Marketing Situation
1. Market description
1. Segmentation (describe target market using segmentation characteristics)
2. Marketing targeting strategy
3. Value proposition
4. Factors influencing consumer behavior of the primary target market
5. Buyer decision process of the primary target market
2. Product review
1. Levels of product/service
2. Type of product/service
3. Product/service life cycle
4. Benefits/features analysis
5. Differentiation
6. Branding strategy
3. Competitive review
1. Competitive analysis
2. Market share
3. Competitive positions and roles
4. Strategic sweet spot
5. Positioning
4. Distribution review
1. Current supply chain members and roles
2. Value-delivery network analysis
3. Current type of distribution strategy
B. Strengths, Weaknesses, Opportunities, and Threats Analysis (SWOT)
1. Microenvironments
2. Macroenvironments
Step 4: Prepare Marketing Plan Term Project, Part 2 (worth 20% of final grade)
Incorporate all comments provided by your faculty member in Part 1; continue with your marketing plan by completing the following sections:
C. Objectives and Issues
1. Statement of marketing objective(s) (for first year only)
2. Issues that may hinder marketing objectives
D. Marketing Strategy Recommendations
1. Positioning strategy
2. Product/Branding strategy
3. Pricing strategy
4. Distribution strategy
5. Marketing Communications objectives
6. Marketing Research
E. Action Programs
1. IMC
2. Message design, content, and structure
3. Media choices
4. Promotion mix tools
F. Budgets
1. Objective/task method
G. Controls
1. Metrics needed to monitor marketing plan progress
Finished product: Put it all together by incorporating changes to Part 1 as suggested by your faculty member's feedback, and then add your title slide, an index slide, an executive summary slide, endnotes, and a bibliography.
Marketing Plan Term Project Submission Requirements for Parts 1 and 2
Length. Minimally, you should have at least one slide per topic, plus your title page and source page(s). General length guidelines are:
Part 1: Approximately 25-30 slides
All information should be contained on the slide itself. Do not use the ‘notes' section of the slide.
Reference numbers. Include the reference numbers noted in the outline for both Part 1 and Part 2 on your slides (e.g., A.1.a; A.1.b; A.1.c, and so forth).
Professionalism. Be sure to refer to the PowerPoint Presentation Tips under Course Content, Marketing Toolbox, to ensure that you submit a professional product. This will be part of your grade for both Part 1 and Part 2.
Citations and Bibliography. Use an acceptable style guide (e.g., APA or MLA) for citations. See UMUC's library website for useful citation tools.
Submit for grading. Save your PowerPoint presentation file as a .ppp file and upload it to your Assignment Dropbox by the due date specified in the course schedule for Part 1.