Objective: The Marketing Plan Project pulls together all the elements of marketing strategy and the development of a research-based recommendation and implementation plan. It will be completed in 3 Parts due throughout the session.
Expectation: Select an organization that you believe is in need of a new marketing strategy.
This can be an organization that is of particular interest to you because you use their products, you admire their leadership, or that you think has potential or for whatever reason. It can even be your place of employment.
It is suggested that you select an organization that has data and information available to you either through direct access or via data-base and internet search. Typically publically-held companies have the most information available, however you do not need to limit your selection if you have access or can find data from other sources.
Stay away from large consumer goods companies, such as Walmart, Pepsi, Ford etc. They will be difficult to analyze due to their complex nature and quite frankly, will not have need for a shift in their strategic direction. Look for new, interesting, growing companies or companies that have lost significant ground in the marketplace.
Part 1 - Market Information, Competitive Advantages and Strategic Focus
Objective: Based on research of the internal and external environment, determine strategic new direction
Expectations: Begin by reviewing the entire marketing plan outlined in the Week 1 materials so you have a strong understanding of where you are headed.
Instructions for the first section of the Strategic Marketing Plan for the company selected and approved as follows:
Using the Marketing Plan Worksheets as guides, prepare the following analysis:
Provide a Situational Analysis of the current Internal and Customer Environments
Research and prepare an analysis of the External Environment
Complete SWOT Analysis and SWOT Matrix
Develop at least 3 Competitive Advantages based on SWOT analysis
Develop a Strategic Focus from the most sustainable competitive advantages.