Market Plan – Cheap Research Essays

Market Plan

Project instructions:

1. First file includes instructions that has to be followed.
2. Second file includes the real estate brokerage name and information
3. Third file includes some data regarding commercial real estate in Vancouver

Your marketing plan must contain only of the following sections, underlined bold-faced flush-left Heading.
Here is a detailed explanation and overview of each section of your plan:

Title Page
This is to be set-up and formatted per APA guidelines

1.0 – Executive Summary
Your Executive Summary is a synopsis of critical information that is found in the Marketing Plan sections. It communicates to the reader “this is what you will be reading.”
Remember, this is not a plan ‘overview’ … it is a well written summary of your plan’s key points of interest. This Executive Summary is the hook to grab the reader’s interest.

2.0 – Situation Analysis (Overview)
Here, you present a brief overview & introduction to sections 2.1 – 2.6. Begin with a short overview paragraph, then briefly introduce each of the sections using sub-headings. Discuss any aspect

of the sections which deserves special reader attention.
Suggested length: ½ page

2.1 – Market Summary
This is a brief introduction and overview of your target market.
Where is your target market geographically situated?.
Approximately how many people live within the market area?
How fast is the market growing?
What are the relevant economic trends in the area?
Who are the people you are targeting?
What are the ‘psychographic’ peculiarities of this target audience?
Explain why the target market is attractive to you, as a marketer.
Suggested length: 1 page

2.2 – SWOT Analysis
Here, you present Internal Strengths and Weaknesses, and External Opportunities and Threats. Your Kotler text provides some excellent insight. Please review these pages carefully so that you

have the benefit of our author’s wisdom when you write your SWOT Analyses.

To help you prepare a good SWOT, it is important to break down each of the SWOT elements and look at the company that you have… and the product and/or service you wish to bring to

market.

S.W.O.T. is an acronym for Strengths-Weaknesses-Opportunities-Threats. The first two (Strengths and Weaknesses) are found WITHIN the four walls of your company. The latter two items

(Opportunities and Threats) are found in the macro environment in which your company operates… in effect, outside your company walls.

The purpose of a SWOT Analysis is to have YOU take a hard, realistic, candid look at your company. If YOU are going to compete, it is time to take an HONEST look at what you are about to

face. Although you may think, “you’ve the greatest product since sliced bread,” that rarely is the case. Putting things on paper means that you are facing the reality of “what is.”

STRENGTHS – This is not a list of 101 things that you have going for you. That you have enthusiastic employees or quality furniture in your place of business is not strength. STRENGTH is

something that you clearly bring to the table. Your competition may be saying, “Drat! I wish we had that… could say that… could do that!” A STRENGTH consists of those things found within

your company’s “four walls.” It could be your management expertise within the industry… your financial backing. Whatever it is, your STRENGTHS found within your company’s four walls are

what make you a formidable competitor. If you’re lucky, you have a distinctive competency, i.e., something that no other company has!

WEAKNESSES – This is your “soft underbelly” at which your competition cackles with glee. It is where you are exposed. For many in our class, one weakness may be that you have no BRAND or

FRANCHISE recognition – no one has ever heard of you. It could be your lack of financials. Whatever your WEAKNESSES, these are the things within your company’s four walls that you need to

address quickly. You’re vulnerable.

OPPORTUNITIES – This is where you see opportunities to grow your market, make profit, and establish a foothold. It may be where you can build upon your internal strengths to capitalize in

your target market. Opportunities could be “other” target markets that you see as ripe for exploitation; it may be markets that your competition has overlooked or ignored. Your

OPPORTUNITIES are those business niches in which you see yourself exploiting. Where is the business that you might develop today… or tomorrow? What opportunity exists for your company

and on which it can capitalize? In effect, where is the money opportunity for you?

THREATS – THREATS are those things in your macro-environment and about which you have virtually no control — what is happening with your competition, technology, government/legal,

environment, etc., that can have an unwanted effect on your business as you attempt to bring your product/service to market? You need to be aware of these… and never assume “that can’t

happen to me.” It does… and they do.
Suggested length: 2 pages

2.3 – Competition
Who are your competitors? What are they doing? What are their strengths & weaknesses? How do they compare?

Include a comprehensive list of current and potential competitors and substitutes. This list could be organized by company type, or by firm. This list should only contain 2 – 4 competitors

and/or substitutes that you see as most important and indicate why.

For your top two (2) primary competitor(s), offer a detailed analysis of their strengths and weaknesses, as well as the strategies likely to be used by each upon your entry into the market.

Provide as much relevant information as you can find about your chief competitors: size, current market share, product quality, growth, financial stability, image, marketing strategy, target

markets, and any other data you consider important. Do not skimp on this; know thy enemy!

Discuss how your service compares (features and benefits, target market, etc.) to that offered by the competition. In addition, share how you plan to differentiate your product from the

competition. Why might people buy your service instead of the others offered by your competition in the same general category?

Be sure to address substitutes. Are there any substitutes for your service offering? Identify the primary substitutes, discuss strengths and weaknesses of those substitutes compared to your

offering.

If there are no substitutes, indicate this.
As you will likely encounter competition when you enter the market, what is your plan to respond to competitive counter thrusts? How will they likely respond to your entry into the market?
Suggested length: 1 page

2.4 – Product (Service) Offering
Here, you describe your service. What needs does the service fulfill? What problem does it solve?

Articulate a concise, yet thorough, understanding of your service. Describe it so that the reader envisions the product or service. Tell the reader your product’s name, features/attributes,

advantages, benefits, quality, warranty, labeling, packaging, etc.

You’ll want to provide an explanation of any competitive advantages or challenges. Don’t assume the reader understands exactly what it is you are bringing to the marketplace. Describe it in

detail.
Suggested length: 1 page

2.5 – Keys to Success
What are the most important ‘marketing’ factors that will make your plan successful? What marketing efforts and activities will be key to your success?
Suggested length: 1/2 page

2.6 – Critical Issues
Here, focus on what you anticipate as your most challenging ‘road-blocks’ to reaching your marketing goals? Will it be creating an effective marketing communications attack strategy, or

getting your service to the consumer? Or will it be something else? Discuss your critical issues.
Suggested length: 1/2 page

3.0 – Marketing Strategy (Overview)
Here, you present a brief overview & introduction to sections 3.1 – 3.8. Begin with a short overview paragraph, then briefly introduce each of the sections using sub-headings. Discuss any aspect

of the sections which deserves special reader attention.
Suggested length: ½ page

3.1 – Mission
Here, you present your company’s formal “Mission Statement” (It is perfectly OK to ‘create’ a Mission Statement for this assignment); then briefly explain it and discuss how you will use it to

guide your marketing planning effort and subsequent marketing activities.
Suggested length: ½ page

3.2 – Marketing Objectives
Your Marketing Objectives should be clear, be measurable, and have a stated time frame for achievement.
Here, focus on 3 key objectives:
1.   Your Brand identity & Value Proposition
2.   Your estimated Revenue
3.   Recruiting new sales agents

Thus, this section should be comprised of a brief intro paragraph and 3 complete and detailed sub-sections (identified by sub-headings).

Here’s an overview:
1. Brand Identity & Value Proposition:
All services strive to obtain a unique identity with their targeted audience … and a “value proposition” that fills an ‘opening’ in the quality spectrum within the particular industry. For example,

X and Y present opposing Brand identities and value propositions, yet both are profitable and meet the needs of their particular consumer audiences. With this in mind, provide your brief and

concise Value Proposition and Brand identity.

Your Value Proposition is a promise of value to be delivered to your customers, and it focuses on benefits & associated costs. It should be a just a few sentences.

Your Brand Identity is the marketing representation of your product or service. Show your Brand Identity by providing your product or service name, your logo, and your marketing slogan (a

brief grouping of powerful words that identifies your Brand identity).

2. Estimated number of clients served:
Obviously, it will be “an educated guess” since we have no organizational of market history to reference. But offer a month-by-month ‘estimation’ of units sold or if you provide a service, it’s the

number of customers or clients served; Show anticipated month-by-month fluctuations, and offer your logical reasoning for those fluctuations.
Do not provide sales revenue here.
4. Recruiting new sales agents:

Suggested length: 2 pages

3.3 – Financial Objectives
The ultimate measurement of your Marketing plan is the effect it will have on the bottom line. So here, you discuss anticipated gross sales revenue in dollars. Discuss when and why revenues will

fluctuate throughout the year. Indicate month-by-month objectives by sales volume (showing anticipated periods of growth). Again, your numbers will be “an educated guess” since we have no

organizational of market history to reference. But offer a month-by-month ‘estimation’ of dollar-amount sales revenue. Then offer your logical reasoning for your estimation.
Suggested length: 1 page

3.4 – Target Markets
Here, you expand and elaborate on information provided in section 2.1 by providing a detailed description of your targeted “segments” of you larger market.

What specific needs do you see within the market segments, describe the marketing segmentation that you have selected, and explain your market segmentation rationale? Address any ethical

considerations and related risks.

This section’s content should be based on research findings (for example: Data on your service industry, and Product usage information). Maker clear reference to that research, but do not

include details of the research.

Also, offer an educated estimation of the size of the target in “dollars”, its potential for growth, and other important characteristics.
Suggested length: 2 pages

3.5 – Positioning
Here, identify the psychographic and socio-economic position of your intended customers. Are they upper-income professionals, are they foreigner investors, are they students? Why have you

selected this market audience? What sociological uniquenesses do they have, and how can you target those uniquenesses.

Also, what is the position or “gap” that your product or service fills in the overall “utility, price, & quality spectrum” within this category of products in the marketplace? In other words, what

consumers are you targeting and what specific needs does “your” service fill?

Is there a specific application that your service fits very well? Can you base the position on the uniqueness of the service, the service quality, or the pricing strategies? Is it possible to position

your product based upon opportunities you found after research?
Suggested length: 1/2 pages

3.6 – Pricing Strategies
Here, you offer a two-part explanation.
1 First … propose a “standard pricing strategy” for the service and support your choice. Give your reasoning for selecting that pricing strategy? Be sure to indicate your standard

pricing structure, and show examples.
2 Second … and most importantly, propose your “promotional pricing structure”. Here, explain special offers, discounts, and commission reductions … and “when” you propose to

implement them. Briefly discuss how your proposed standard price and promotional fit into the target market and compares to the competition.
Suggested length: 1/2 page

3.7 – Marketing Attack Strategy
This is the “Heart” of your plan … here you reveal details of your “Attack Strategy”. Here, you demonstrate your ability to create a “Clear, consistent strategy and message” that your IMC

approach is intended to communicate.

This section of your plan is a complete description of your proposed marketing communications plan. It is the most important element of the plan as this will outline your strategies for how you

will promote your service to your target customers.

Clearly describe each strategy. Answer key questions – With whom do you want to communicate and how can you do that successfully at the most reasonable cost? Consider how your

communication strategy fits with other sections of your plan; check to see that your promotional plans are consistent with the description of your target market and overall strategy.

Consider how your plan stacks up to competitors’ promotional activities. Be creative, but stay grounded in reality.

Show a strong overall Integrated Marketing Communications strategy by creating a coordinated effort with advertising, public relations, internet, & sales promotion.

In this section of your plan, it is recommended that you create a sub-heading for each of these strategic marketing efforts; then provide a clear and succinct description of all efforts.
Show that you know how to use each of these marketing tools in a coordinated effort.
Your advertising, which is usually the most powerful and most expensive of your marketing tools, should incorporate many advertising venues which are mutually supportive. In addition to what

you are proposing, fully consider such things as:
•   Newspaper,
•   Television,
•   Radio,
•   Magazines,
•   Billboards & other Outdoor display venues,
•   An ongoing fully-developed Direct Mail program,
•   A complete Internet marketing strategy (with search engines, pop-ups & banners),
•   Advertising Agency fees,
•   International Advertising
•   Champers of commerce membership (around the world).
Suggested length: 4 pages

3.8 – Marketing Research
This section is the logical extension of your “2.1 Market Summary section and your 3.4 Target Markets” sections … but here you simply summarize the key content from those two sections, then

show the research data that lead to your findings.

This section requires real research. Search for and find real data on your consumer audience’s demographics, psychographic, gender, age, occupation, education, life style, attitudes, purchasing

characteristics, etc.
In this section, you explain basic research findings.
Suggested length: 1 page

4.0 – CONTROLS (Overview)
Here, you present a brief introduction to the 4.1 – through – 4.3 sections of your plan. Begin with a brief introductory paragraph, and then use sub-heads to briefly introduce each sub-section.
Remember, sections 4.1, 4.2, and 4.3 help you measure results and identify any problems or performance variations that may need corrective action.
Suggested length: 1/2 page

4.1 – Progress Milestones
Set milestones for implementing your plan. Show quarterly goals for marketing success. Here, think in terms of “recruiting new sales agents” (refer to section 3.2) and “Financial Objectives” (refer

to section 3.3).
Suggested length: 1/4 page

4.2 – Marketing Organization
If you are the Commercial Real Estate Broker, who else is on your support team?
Suggested length: 1/4 page

4.3 – Contingency Planning
How will you handle difficulties, problems and risks? Here, you present a brief overview of how you would quickly adjust your marketing strategy if sales begin to drop significantly (due to

competitive factors, or changes in the marketplace, or reduction in the number of real estate agents). Here, you should explain contingency tactics, advertising tactics, new agents recruiting

programs. etc.
Suggested length: 1/2 Page

5.0 – Conclusion
This brief, but powerful, section of your plan refers back to your Executive summary then summarizes all the key and important elements of your plan. This final section of your plan should

convince your reader that your plan is flawless and fully capable of success…
Suggested length: 1 page

REFERENCES
Format reference for each of your research sources per APA guidelines

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OTHER EVALUATION & GRADING CATEGORIES

Documentation & Formatting
Your Marketing Plan must follow APA guidelines and assignment format instructions. A Reference Page is required (with a minimum of eight research references).

Organization & Cohesiveness
This is very important. Your instructor will closely peruse your writing to evaluate its graduate-level content and correctness. In the business world, the ability to communicate is critical.

Poorly written documents do not equate to “A” level work.
Did you demonstrate clarity of thinking; did you show an overall strategic understanding of the planning process; did you apply basic marketing principles; and did you show a creative but

realistic use of marketing tools.
Your Marketing Plan should be crisply written, well edited, and professional in every sense of the world. Make sure everything is well organized using headings, subheadings, and paragraph

structure. You essentially have 20 pages to communicate a thoughtful marketing approach that would result in success were you to go to market! As you prepare your final Marketing Plan for

submission, consider that this is a professional document that is prepared as a graduate-level submission.

Marketing Plan for Empire Realty
Empire Realty is new a Real Estate Brokerage firm, located at 1288 Georgia St. W, Suite 2000, Vancouver, Canada, V6E 4R3.
The firm started with 30 real estate agents. The target is to reach 150 agents within three years.
The firm specializes in commercial Real Estate.
The firm is combining the features of traditional brokerage (by having one huge office at strategic location in downtown Vancouver) and virtual brokerage.
“Virtual brokerages have answered the call of hi-tech savvy clients, whose expectations have never been more demanding. Real estate professionals in virtual brokerages are armed to work for

their clients using sophisticated technology, which enables lightning-fast communication, immediate response to inquiries, electronic document expediting, and more!”
Competitions include the following:
1. Colliers International
200 Granville St Suite 1900, Vancouver V6C 2R6
www.colliers.com
2. Cushman & Wakefield Ltd
700 Georgia St W Suite 700, Vancouver V7Y 1A1
www.cushwake.com
3. CB Richard Ellis Ltd (CBRE)
1111 Georgia St W Suite 600, Vancouver V6E 4M3
www.cbre.ca
4. Macdonald Commercial Real Estate Services Ltd
1770 7th Ave W Suite 301, Vancouver V6J 4Y6
www.macdonaldcommercial.com
5. Re/Max Commercial Advantage
889 Pender St W Suite 501, Vancouver V6C 3B2
www.commercialadvantage.ca

HIgh-Rise Hopes in Vancouver as Office Demand Increases
Prolonged rise in office vacancy gives way to leasing activity; industrial market powers ahead
VANCOUVER, June 27, 2014 – The Canadian office market is exhibiting signs of life after a prolonged
period of lackluster leasing activity. CBRE Limited’s National Office and Industrial Second Quarter 2014
Statistical Summary indicates that more office space was taken off the market than at any time in the last two
years; however, it is too soon to say that this is the beginning of a new positive trend. In contrast, the industrial
availability rate has decreased consistently over the same two year period, resulting in a construction boom.
“Landlords remain confident about the long-term prospects for the Canadian office market, but much like the
state of football in England, reasons for optimism may not be immediately apparent,” said John O’Bryan,
Chairman of CBRE Limited. “The flight to quality and emphasis on workplace efficiency continue to move the
market, but I’m more interested in hiring intentions. Intentions are improving and so too could the demand for
office space.”
The overall national office vacancy rate rose 10 basis points (bps) to 10.4% in the second quarter of 2014. This
marks the eighth consecutive quarter in which the national vacancy rate has risen; however, the vacancy rate is
now rising much more slowly. The slight increase in vacancy this quarter is particularly notable as 2.0 million sq.
ft. of new office space came online. Much of the new space was leased in advance and tenants were also
leasing space in existing office buildings, which resulted in a total 1.6 million sq. ft. of office space coming off the
market this quarter. New supply also helped to bolster the average asking net rental rate, which climbed $0.43
per sq. ft. in the quarter to an average of $21.63 per sq. ft. nationally for Class A space.
In the case of Metro Vancouver, a reduction in occupancy costs, few significant vacancies and a decrease in
sublet space contributed to a reduction in available office space for the first time since the third quarter of 2013.
Office demand was particularly strong in the Burnaby and the Broadway submarkets. Despite these positive
signs, overall office vacancy increased for the fourth consecutive quarter, from 9.4% to 9.9% quarter-overquarter.
Unoccupied new supply came online in the Burnaby market, which largely accounted for the increase in
the vacancy rate.
Recent market activity in the Metro Vancouver office sector has been buoyed by the strong performance of the
technology sector. Startup and established technology companies continue to drive leasing and tenant activity in
Gastown, Yaletown and the evolving Mount Pleasant submarket. That said, overall office leasing activity in
Metro Vancouver will be somewhat muted for the remainder of the year due to softer demand from the mining
and energy sector.
“The influx of technology companies reaffirms Vancouver’s place as a desirable and increasingly strategic
location to do business,” said Norm Taylor, Managing Director of CBRE’s B.C. operations. “While many market
watchers are fixated on the new office towers, there are existing and emerging sources of demand that will have
to be accommodated before those buildings are ready for occupancy.”
2
The Canadian industrial market continues its remarkable run and developers are responding by building new product. The overall industrial availability rate fell 20 bps quarter-over-quarter to