Marketing Plan

 

Outline for the Semester Project
The following outline should be followed in completing the semester project. Papers should be written in a narrative (paragraph)format.
Product Background (5points)
0 Introduce the new product. Describe what the product is and what it does. The introduction might include: consumer demand,
product usage, attributes,benefits to the target market, competitive edge, branding, labeling, packaging, support services etc.
0 What is the geographic area in which the product will be sold?
0 What kind of image does the product have? (such as cheap but good, exclusive, customer-oriented, highest quality,
convenience, or speed)
Company (Manufacturer) Background (5 points)
0 Include the name and history of the manufacturer, its other products and services. etc.
0 Include the company’s mission statement (If/you can find it).
Strategic Issues (10 points)
0 Discuss the current business environment for the new product.
0 What are the internal and external issues which could affect next year’s business? (Look/orindustrvfiwecast information)
0 Include details about other new product introductions in the same company, industry consolidations or expansions, new
distribution outlets, or a major change in industry pricing, etc.
Target Market (Iopoints)
0 Describe the target nnrket for the product. (Example: 18-25 year old females who are interested in/fashion, retirees, people
concerned about sugar and calories in theirsofi drinks. etc.
0 Remember there my be more than one market segment targeted.
0 Describe demographics, psycho graphics and buyer behavior as they relate to your product.
0 If the market segments are differentiated by ethnicity or have an international focus, examine the aspects of the marketing
mix
Competition (15 points)
0 Create a SWOT analysis for the company and the new product.
0 What are the strengths and weaknesses compared to the competition (consider such areas as location, size of
resources, reputation, services,personnel etc.)?
0 What are the opportunities and threats of the product/service? How might these opportunities be exploited and the
threats minimized or eliminated?
0 Describe the competitive environment for the product.
0 Create profiles of the top two (2) competitors with details of those competitors and the products which compete with your
profiled company new product.
0 Develop a market share assessment for the new product in relation to its competitors.
Pricing (10 points)
0 What is the price of the product“?
0 How does the price compare to that of the competition?
0 Discuss the po551ble rationale for pricing the product at this amount.

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0 How does the company promote their product“? Do they use any of the following channels?
-Television -Intemet Social Media
-Radio -Personal Contacts
-Direct Mail -Yellow Pages
-Newspapers -Billboard (Outdoor advertisement)
-Magazines -Trade Associations
0 What message is the company attempting to get across to the consumers?
0 Why is the media chosen the most effective?
0 Where can consumers find the product or where can they obtain the service?
0 Is there sufficient distribution and availability of the product to ensure its access and success?
0 Are there any “weak links” in the distribution chain that might create a problem in getting the productx’Service to the
customer?
0 Describe the conpany’s positioning forthe next year. This positioning statement should be one sentence long.
0 Here’s where you get creative. Make up a “new” tag line that can be used in advertising and prormtion and something that the
sales stafi’can say quickly and concisely.
A few examples ofa tag line are:
Aids in Your Alouth, Not in Your Hand – M&M
What ’s in your wallet? -Capital One
What happens here, stays here – Las Vegas Convention and Visitors Authority.
Like a Good Neighbor, State Farm is There – State Faml
The Few. The Proud. The Alarines. – The US. Marine Corps
Provide your assessment for the future success ofthe product based on the analysis that you have done of the product.
Source documents used should be cited using the APA format. (See instructions “How to Cite Sources”.
Remenber the following:
0 Include a standard coversheet including the project name. your name. course name. date and class tint.
0 Use a narrative format in writing yourpaper. Use conplete sentences please.
0 Use a 10 or 12 point font. (Arial or Times New Roman)
0 Single spacethe paper.
0 Limit your paper to 10 pages.
0 Include a reference page with sources properly cited as the last page of your paper.
0 Check for spelling and grantnatical errors. proofread and make sure your paper is a reflection of your bestwork.

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