Assignment: Marketing Plan
Learning Outcomes:
1. Demonstrate ability to think independently and systematically on the subject of developing the business feasibility assessment of marketing plan development.
2. Formulate overall marketing goals, objectives, strategies and tactics within the context of an organization's business, mission and goals.
3. Analyze marketing opportunities using environmental scanning market data, measurement, and analysis.
Write a Marketing Plan considering the following points
PART-A
1. Introduction, Goals and Objectives
To introduce this section you should include the "mission statement" of the business; an idea of what its goals are for customers, clients, employees and the consumer.
Introduction about the business.
Businessvision and mission
Businessobjective.
Products and services offered
2. Environmental Analysis
Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers.
Political- Political situation that persist, their influence on the decisions making process to be evaluated.
Social/Cultural-Social/Cultural forces that affect attitudes, interests and opinions.
Technological-A brief of the technological factors influencing the overall performance.
Economic-The economic factorsthat dictate how consumers, suppliers and other organizational stakeholders behave within society.
Suppliers- Identify the sources for direct purchasing, describing their locations, the frequency of orders and the type and amount of suppliers to be contacted.
Competitors- Identify the direct competitors by naming their business, describing their facilities and operations, identifying their share of the consumer market, realizing support for their product and by reviewing the weaknesses of their approach.
PART-B
3. Target Market Analysis
Identify the target market, describing how the company will meet the needs of the consumer better than the competition does. List out the expectations consumers have for the product.
4. SWOT Analysis
Strengths
List the strengths of the business approach such as cost effectiveness, service quality and customer loyalty.
Weaknesses
Describe the areas of weakness in the company's operations, such as government policies and procedures, and management inexperience.
Opportunities
Examine how proper timing, as well as other factors such as your company's innovativeness, may improve thebusiness's chances of success.
Threats
List the external threats to the business' success
5. Marketing Mix(4 P's ) Analysis
Product or Service
Identify the product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for the company to produce it, why a consumer demand exists for your product, and where your product sits in comparison to similar products/services now available.
Place
Identify the location of your business, why it is located there (strategic, competitive, economic objectives), your expected methods of distribution, and timing objectives.
Promotion
Describe the type of promotional methods you will use to spread the word about your product. Identify techniques such as word of mouth, personal selling, direct marketing, sales promotion etc. television, radio, Social media and newspaper ads.
Price
The prices of your products or services that reflects the overall company strategy. Should be competitive as well as a reflection of the quality, costs and profit margin.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.