2300 words assignment

Guidelines for completing the Marketing and Communication Plan

Word Count 2,500

Section 1- Business Concept

Section 2- Marketing and Communication Plan and Strategy

Please note: more detailed criteria will be made available throughout the course. Please check blackboard for marking criteria and other resources.

Section 1- Business Concept

What to include:

Clearly define your business concept and evaluate its feasibility. Reflect on how you have started at the beginning of the year and how your business model has changed as a result of what you have learned in class and interactions with peers and other practitioners. What ownership options, business models and funding options have you explored, and why have you decided on your chosen one.

Refer to the business financial plan to assess the viability of your business module and how you might need to adjust it in the future.

Please include any appendices of worksheets etc that demonstrate your in-class participation.

Section 2- Marketing and Communication Plan and Strategy

This section should include

Competitor analysis

Identification of main competitors:

· State services offered

· State prices charged and pricing policies

· Estimate years in practice and approx. Weekly client base (if possible)

· Identify key promotional

· Evaluate data and analyse USP’s compared to competitor

Analysis of target market

from Acorn Data (CACI) and/or statistics.gov.uk and/or specific marketing research undertaken.

a. Use the following framework to describe target market(s):

Geographic – where your customers live or are located

Demographic – the age, gender, income, education, stage in family life cycle, social group, ethnic background, etc.

Psychographic – lifestyle, values, attitudes, opinions in general and towards CAM

Stage in the Buying Process – Not aware, Aware, Interested, Information Search, Evaluation of Alternatives, Purchase, Post-Purchase, Re-Purchase, Complaint

Benefits Sought

Usage Rate – Heavy User, Medium User, Infrequent User, Non-User

Stage in Adoption Process – Innovator, Early Adopter, Early Majority, Late Majority, Laggard

Individual User, Corporate or Business User, Organisational

b. Summarise key marketing related issues with respect to your target market(s).

Brand/company values and positioning statement

(See additional information below for more detailed guidelines)

Marketing goals and objectives

State for year ahead, using SMART format for quantitative goals (max. 3) and general statements for qualitative goals (max. 3). Goals should show some relation to opps/threats above and/or target market characteristics.

Pricing plan and policies

State and justify

a. Price per treatment and per follow-up(s)

b. Rationale for price chosen (one paragraph statement)

c. Payment methods

d. Any concessions with justification

e. Any no-show policy & policy for latecomers

Marketing Strategies and Tactics

Use the following format:

Method

To help achieve which goal/objective

Specific medium/method

When

Public Relations Event

Networking Activity

Launch Web Site

After sales service programme (Loyalty scheme)

Build awareness

Build client base

To support current clients; to bring in new clients

Talk at local community event

Build network starting with colleagues from U. West.

September 2010

September 2010 - ongoing

Future Development Plans

Business and marketing planners often refer to the Ansoff Matrix when considering future development.

ANSOFF MATRIX

Market Penetration

Product Development

Market Development

Diversification

Definitions of Ansoff Matrix Categories:

Market Penetration: Find more customers from the same target market(s) you are currently serving.

Market Development: Enter new and different target market(s) and or move into new markets geographically.

Product Development: Add new products and/or services to what you are currently offering – but to the same target market(s) you are currently serving.

Diversification: Enter new markets, with new products.

Consider which of the above strategies you will follow in 3 – 5 years, explain and justify.

ADDITIONAL INFORMATION

Writing Brand Values Statements, Positioning Statements and Competitive Advantages Statements

Brand Values, Positioning and Competitive Advantages are all related concepts. Each is built upon the other.

1. Brand Values

What are your company values? In what ways will your service/products be unique, different, from those already on the market?

Sources of Uniqueness:

· produce/service offerings

· product/service quality

· delivery/distribution

· markets served

· design

· customer service

· pricing

· technological or operational advantage

· strategic alliances/partners

· special expertise

· no one else offering the service

· combined expertise or combination of services offered

· location

· method of delivery/distribution

Clarify all the ways in which you will be unique and then write a one sentence unique selling proposition

2. Positioning Statement and Competitive Advantages

· Positioning related to the position you will take in the market and in the minds of customers in relation to competitors. What do you want clients/customers to think of when they think of your practice/service/of you?

· Companies will position themselves in terms of gaps in the market – benefits that customers seek that are not currently being served or well-served; in terms of price/value; in terms of quality; in terms of market leadership, etc.

· Positioning strategies begin with an assessment of benefits sought by customers, an analysis of what competitors are currently doing to provide these benefits, a gap analysis, and an assessment of your unique points.

3. Competitive Advantages

Companies can gain competitive advantages along two lines – price/value (offering better value) and differentiation (offering something unique, different in terms of quality, delivery, reliability, durability, service, features, benefits, etc)

As you can see, your brand values are a list of what you stand for, and what makes you unique, your positioning statement tells us how you differ from competitors, and your competitive advantages give more details on what you do better than the competitors.

You can combine all three of these concepts if you like, as long as you address all these issues.