Assignment 2: LASA #2 - The Marketing Plan
The marketing plan format is one that is utilized by major corporations all over the country. However, writing a comprehensive marketing plan is a difficult and challenging task, yet, the ability to write such a plan is critical to the development of a marketing manager and an organization. As the culmination of the course, apply all that you have learned to develop a comprehensive marketing plan.
First, find a real-world organization or product that you want to assess in terms of the current situation analysis. In other words, ask yourself: Is the industry growing? What is the market share for the organization that they represent? Who is the dominant player in the market place? Remember, you will need to justify your approach using market research and data.
The second step in the process is the actual writing of the plan. Think about the following: What are the goals and objectives for the organization? What is the timing of the plan? What resources will be required to achieve the plan? What are the financial goals?
In your marketing plan, make sure to include the following sections:
Executive Summary and Table of Contents
In the executive summary, make sure you address all the main goals and objectives of your plan. These goals and objectives need to be clear, measureable, and reasonable.
A situational analysis presents a snapshot of the market in its current state by describing the company's products/services, target segments, distribution networks, and position of the products/services in the segment, along with competing offerings and relative positioning. It includes current and future assessment of the business conditions and challenges. Within your situational analysis, analyze all the following points:
- Market Summary
- SWOT analysis
- Competitor analysis
- Product offering
- Keys to success
- Critical issues
The marketing strategy describes the planned direction and goals of the marketing activities, incorporating facts and assumptions about the market size, growth, and financial objectives. Think about the following questions: Where do you see your business going in the next 3-5 years? What is unique about your product portfolio? How will you tell the consumer about your products and unique value proposition? How will you stay connected to your target market’s needs and wants? How will you price your product? Within your market analysis, make sure to address the following:
- Marketing Objectives
- Product positioning
- Marketing mix (4 P’s)
- Marketing research
The financials of the marketing plan describe a set of five-year revenue, cost, and profit projections for the marketing plan, including any initial startup costs, sales by channel and segment, and profit margins. Think about the following questions: How much do you plan to sell? What are your factory cost targets? What is your profit target by percent and dollar amount? Remember to include the following in your financials:
- Sales Forecast
- Profit targets
The controls of the marketing plan describe the budget tactical activities for implementing the plan, as well performance benchmarks for each activity. These include pricing, product configuration, promotion, and distribution performance benchmarks, and plans for changing any of the parameters if performance measures are not met. They are in place to measure forecast and profit attainment. Forecasts should be reviewed monthly and quarterly. Secondly, a 12 month calendar should be developed to clearly target specific dates for product introductions and promotional activity.
Remember to include the following:
- Implementations and timelines
The summary of the marketing plan should summarize the plan by summarizing the size and scope of the opportunity, and reiterating the STP (segmentation, targeting, positioning) and 4 P (product, price, place, promotion) elements of the plan. It should tell the reader that the plan is real, how you will win, and why it is worth pursuing as an organization (RRW). This section should be no longer than one page.
Remember to review the grading criteria as you write the plan to ensure you address all needed elements.
Use the grading criteria to guide your report. Make sure you include details within your analysis to support your ideas. Use proper grammar, spelling, and APA style throughout. For more information on modeling the buying process, refer to your textbook.
Marketing plan assignment including Refferences as well as Citations
body preview (151 words)
The contents xx this document xxxxxxx xxxxx that seek to improve product delivery xx xxxxxxxxxxxx customers so as xx xxxxxxx sales (our main marketing xxxxxxxxxx by xxxxxx xxxxx xxxxxxxxx xxxx consideration. The xxxx xxxx help xx xxxx the companies products xxxxxxx into the xxxxxxx The marketing plan xxxx xxxxxx xx drive sales from xxx segments xxxxxxxxx xxx and xxxxxxxxxx this will be used xx pricing xxx xxxxxxxxx xxxxxxxx appropriately, xxxxxxxxx xxxxxxx xxxx customers want, placing xxx product xx the xxxxx xxxxxxxx xx xxxx xx promoting in xxxxxxxxxxx xxxxxxxx so as create xxx xxxxxxxx xxxxxxxxxx
The xxxx xxxx also xxxxxxx xxx available financial xxxxxxxxx xxxx xx used in order xx fund proposals as xxxx as xxxxxxx xxxxxxxx to xxxx xxxx xxxx the xxxx does xxx fail xxxx xx xxx short as xxxx xx the long run.
file1.docx preview (3024 words)
xxx contents of xxxx document contain xxxxx xxxx xxxx to xxxxxxx xxxxxxx delivery xx xxxxxxxx’s xxxxxxxxx so as xx improve sales xxxx xxxx xxxxxxxxx xxxxxxxxxx xx xxxxxx their xxxxxxxxx xxxx consideration. The plan xxxx xxxx to push xxx companies xxxxxxxx further xxxx xxx market. The marketing xxxx xxxx xxxxxx xx xxxxx xxxxx from all segments including xxx and xxxxxxxxxx xxxx will xx used xx pricing xxx xxxxxxxxx xxxxxxxx appropriately, xxxxxxxxx exactly xxxx xxxxxxxxx xxxxx xxxxxxx the product in xxx xxxxx location as xxxx xx xxxxxxxxx xx xxxxxxxxxxx channels so as create xxx greatest awareness.
The plan will xxxx include xxx xxxxxxxxx financial resources xxxx be xxxx xx order to fund proposals xx xxxx xx control measures xx make xxxx xxxx xxx plan xxxx xxx xxxx xxxx in xxx xxxxx as xxxx xx xxx xxxx run.
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