Marketing Plan Project Instructions
For your Marketing Plan Project, you need to create a fictitious company with a product (or line of products) or service that you want to analyze and promote. You can make up your product/service or use an existing one. If you use an existing one, you may want to add something that makes it unique. Just look around your house or office and you will find many of them. You can use websites such as amazon or eBay for ideas.
The marketing project you will be turning in for this class would have the option to complete it in word or PowerPoint. You may choose to do one or the other. The length of the project would vary from one student to another due to the topic of choice, however, use the word count as a reference which is 2500. If you are doing the PowerPoint option, ensure each heading below corresponds to at least one slide. You may use minimal graphics to illustrate.
Ensure that each of the following are included in it.
A cover page (with your name and project name on it)
Executive Summary: An overview of the entire marketing plan, summarizing its main points, objectives, and strategies.
Situation Analysis: Market research and analysis, including an assessment of the current market conditions, industry trends, and the competitive landscape.
SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to evaluate the organization’s internal and external factors.
Marketing Objectives: Clear, specific, measurable, and time-bound goals that align with the organization’s overall business objectives.
Target Market: A detailed description of the ideal customer profiles, including demographics, psychographics, and any segmentation criteria.
Positioning and Value Proposition: Define how your product or service stands out from competitors and the unique value it offers to customers.
Marketing Strategies: Outline high-level approaches to achieve marketing objectives, such as product development, market penetration, market development, and diversification strategies.
Define your pricing, distribution, and promotion strategies.
Marketing Mix (4Ps or 7Ps): Product: Describe the features, benefits, and branding strategies.
Price: Set pricing strategies, discounts, and payment terms. Place (Distribution): Explain how the product reaches the customer, including channels and logistics. Promotion: Detail advertising, public relations, sales promotions, and digital marketing efforts. People (in the case of the 7Ps): Discuss the role of employees, customer service, and human interaction. Process (in the case of the 7Ps): Outline the processes and procedures related to delivering your product or service. Physical Evidence (in the case of the 7Ps): Highlight the physical aspects, such as store appearance or service environment.
Budget and Resource Allocation: Specify the financial resources required to execute the marketing plan, including budgets for advertising, staff, technology, and other expenses.
Mission Statement- a statement that describes what your business product or service will be known for, its philosophy.
Implementation Plan: Provide a timeline with specific tasks, responsibilities, and deadlines for each aspect of the marketing plan.
Monitoring and Measurement: Define key performance indicators (KPIs) and metrics to track the success of your marketing activities. Explain how often data will be collected and analyzed.
Contingency Plan: Identify potential risks and challenges that could affect the marketing plan’s execution and describe strategies to mitigate these risks.
Conclusion: Summarize the main points of the marketing plan and reiterate the key objectives and strategies.
References: A separate page for references where you list all sources used to support your marketing project
Please approach the project with a “real world – manager’s” mentality. How would you do it if you were faced with this task in the real world? How would you present it? What would you include? There are many examples that you can use as guidance on the Internet. There is no reason to ask how you should do the project.
