It's time to develop a marketing plan. Bring together everything you have learned and experienced to date, and create a thorough, detailed plan for one of the following products:
An established beverage manufacturer is introducing a completely new product - flavored milk beverages. The target market is 6-12 years old.
A senior citizen's center, located in a "collar community" of a large Northeastern (US) city.
A travel agency is introducing "eco tourism" packages. The target market is 30-45 years old.
The marketing plan should include:
- Executive Summary
- Situation Analysis
- Target Markets (demographics, needs, trends, etc.)
- Critical Analysis Considered (SWOT, Competitive, etc.)
- Product(s) Defined (features, benefits, etc.)
- Anything else you believe to be important
- Key Marketing Objectives (what are you trying to accomplish?)
- Strategic Initiatives
- Positioning
- Differentiation vs. Competition
- Pricing Strategy
- Distribution Strategy
- Tactical Plans
- Promotional Tactics to be Used
- Develop a creative execution of a print ad
- Develop a creative execution for a direct mail or e-mail campaign
- Timing
- General Thoughts on Budget (where will you spend money?)
- Anything else you believe to be important
- Other
- Keys to Winning
- Barriers to Success
- How will you measure results
- Group Portion: Use the Small Group discussion board to:
Define the scope of the marketing plan
Agree on general parameters such as target market, positioning and differentiation, pricing and promotion strategies
Decide who will write which piece of the plan