Marketing Plan
Project description
Targeting:<br />
How will you target your segment. How will you ‘reach’ your target customers.<br />
-People, Physical Evidence, <br />
Processes: <br />
Describe what resources (people, buildings, money) you will need, how you will warehouse your product, or get it hosted.<br />
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The product can be existing or ‘for development’, all technologies required are assumed to be available or within the bounds of possibility. They can be as imaginative or innovative as the students see fit.<br />
The plan should focus on the practical and real world aspects not the theoretical. For example, the plan should not contain the definition of Segmentation (Segmentation is the process of dividing the market into …..), but should clearly explain how the market is Segmented in direct relationship to the chosen product. <br />
Students should use a range of marketing tools (ie PEST, SWOT, Market Research) focusing on the key tools that have a significant impact on their chosen product. <br />
All external data should be referenced. There should be clear evidence of primary research wherever possible and realistic. <br />
Students are not expected to have indepth and accurate figures relating to developing new technologies, or to have accurate figures for large scale promotion etc. However, all figures used should have a degree of realism.<br />
The teams can act as startup business, or can act as part of a larger organization, (ie Apple, Tesco’s, Lockheed), or can be ‘innovators’ who sell/license their inventions and technologies to others.<br />
Because of the deliberately limited word count students have to be selective to include only the important and critical Marketing tools and techniques. They should not give ‘100 words to 40 topics’ but should focus the major word count on the most good/bad/risky/critical/innovative areas. <br />
The Plan should contain financial data to show potential revenue and profit, as well as a pricing worksheet to show how their product price has been created.
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