MARKETING MANAGEMENT
1. Prepare a marketing plan to market your assigned product/service in Puerto Rico.
2. Determine your target market and the stage in the product life cycle.
3. Develop appropriate strategies.
4. Follow closely the marketing plan framework I am attaching. Read it carefully so that you will understand what each part entails.
Product : Honda HR-V Crossover
INTERAMERICAN UNIVERSITY OF PUERTO RICO
ECONOMIC AND MANAGEMENT SCIENCES DIVISION
GRADUATE DEPARTMENT
ENGLISH TRIMESTER PROGRAM
BADM 5090 - MARKETING MANAGEMENT
FRAMEWORK FOR A MARKETING PLAN
I. Executive Summary
Summary of all the main points of the Marketing Plan. It should include a table of contents.
II. Marketing Plan
A. Situation analysis
Description of the company's present target market and the position it holds in that market. It includes information about the market, product performance, distribution system and competitors. The following should be included:
• A description of the market that will define the market and its segments, and a description of consumer needs and the environmental
factors that may affect their buying patterns.
• A description of the product/service being offered by the company at present. It should include sales levels, price and the product's profit margins.
• A description of the distribution system that evaluates the latest sales trends and other issues related to the distribution channels.
B. Environmental Analysis
An evaluation of the most important opportunities and threats faced by the product that will help management anticipate positive and negative events that may impact the company and its strategies. An analysis of the company's internal strengths and weaknesses should also be included.
C. Objectives
A list of the marketing objectives that the company would like to achieve during the term of the plan and the factors that might affect their implementation.
D. Marketing Strategy
A detailed summary of how the company intends to achieve its marketing objectives specifying the target market, the product/brand positioning, and expense levels. A description of strategies related to each element of the marketing mix (4P's) should be included. Example:
• A product description including its core component, packaging and support services
• Description of the promotion plan including advertising objectives, media, the message, promotional activities, personal selling, etc.
• Description of the distribution network including points of origin and destination, distribution methods with their advantages and
disadvantages, required documentation, insurance, contracting carriers
• Description of retail stores, types and size of retailers and their impact on the original price
• Description of types and size of wholesalers, and their impact on the original price
• Description of types and location of warehousing facilities if necessary
The response of each marketing mix element to the threats, opportunities, strengths and weaknesses must be specified.
E. Action Programs
n explanation of how marketing strategies will be turned into action programs that will answer the following questions: What will be done? When it will be done? Who will be responsible for doing it? How much it will cost?
F. Budgeting
A detailed description of the budget that will support this marketing plan, which will basically constitute a one-year profit and loss statement. It must include income levels (projected sales and the average net price), projected production, distribution and marketing costs. The difference will be the projected profits. Once this budget is approved by management, it will direct the acquisition of materials, the production plan, human resource planning, and the marketing operations.
G. Resources
Description of the financial, human and production resources necessary to implement the marketing plan.
H. Controls
An inventory of all the control mechanisms that will be used to evaluate progress, which will allow management to check results and determine if goals are being achieved.
I. Contingency Planning
A description of the foreseeable risks and difficulties.
III. Information Sources
IV. Appendices.