Suggested BuAd 116 MARKETING PROJECT TEMPLATE
Introduction
The purpose of a marketing plan is to convey the strategy of the organization from a
marketing perspective. A strategy is in a sense, the direction an organization wants to
pursue. It denotes a path to a desired destination. The identification of the
organization’s desired destination is vitally important, as the organization must first know
where it wants to go before it can construct a plan (strategy) for getting there. This
desired destination is comprised of both financial and non-financial goals and objectives
that are derived from the organization’s mission. From the organization’s mission, a
business strategy is developed that includes separate, but integrated and consistent
plans in the areas of finance, human resources, operations, information systems, and
marketing, as well as other functions relevant to the specific organization.
Part 1 – Introduction and Target Market
A. Organizational Information
1. Provide a description of your organization. What type of organization is it? What is
the product being sold?
2. Is your oragnisation involved in (i) Wholesaling or Retailing (ii) Manufacturing (iii)
Service (iv) Not for profit activities
3. How long has your organization been in existence?
4. What significant changes has it experienced in that time?
5. How is the organization structured?
6. What is the organization’s mission/vision?
B. Marketing Goals & Objectives
1. Establish quantifiable marketing goals, which may be financial or non-financial,
depending on the type or organization that you are running. This means goals that
you can turn into numbers. For instance, your goals might be to gain at least 30
new clients or to sell 10 products per week, or to increase your income by 30% this
year. Your goals might include sales, profits, or customer's satisfaction.
2. Is social responsibility important to your company? Why?
3. Explain the specific ways you will integrate social responsibility into your product
and company.
C. Environmental Analysis
1. External Environment
Competitive Environment
Who are the key competitors in your industry? What are their strengths and
weaknesses?
Describe your competition. Develop your "unique selling
proposition." What makes you stand apart from your competition? What is your
competition doing about branding? Does the use of Porter’s Five forces model
suggest that this is an attractive industry?
Political/Legal Environment
Are there current or potential future policies, laws and regulations which may
affect the supply, demand, design, promotion and distribution of your product?
Economic Environment
What current AND future economic conditions might affect the supply, demand,
design, promotion and distribution of your product?
Social Environment
What current AND future demographic statistics and cultural mores have an
effect on the attitudes and lifestyles of consumers in your market and what are
the implications for your product?
Technological Environment
List emerging technologies affecting your product. Is the Internet important to
your company? Size of Internet reachability. Usage rate of Internet in your
market. Identify segments of your market wherein Internet usage is growing the
fastest
2. SWOT Analysis
a. Identify the strengths of your business offering:
List the keys to your success
.
Describe the competitive advantage(s) of your product.
b. Identify weaknesses of your business offering. List potential red flag issues.
c. Identify opportunities in your target market and with your business offering.
List ways of leveraging these opportunities
d. Identify immediate threats to your business offering. List potential threats that
may become important
D. TARGET MARKET
1. Who is your target market and why? Provide a profile of your primary target
market (demographics, psychographics, etc.). Who do you anticipate will be a
secondary market for your product? Describe the market dynamics and patterns
including seasonality.
2. What are the basic wants/needs your consumers want fulfilled?
3. What is the overall market potential for this product?
4. What is your current/projected market share of this market?
5. What are the recent, current, and projected rates of growth for this
market?
Part 2 – Product and Place
A. PRODUCT DETAILS
1. Describe your product. How does your product relate to the market? What does
this product do for the consumer? Why would someone buy this product (i.e., to
fulfill what need or want)?
2. What are the tangible and intangible aspects of this product?
3. What are some unique features/functions (points of differentiation) of your product
as compared to your competitors’? You may want to consider:
-
Convenience
-
Reliability
-
Tangibles
-
Responsiveness
-
Empathy
-
Assurance
4. What did consumers buy to fulfill this need/want before this type of product (yours
or your competitors’) was available?
5. What products (direct and indirect/substitutes) do the market’s consumers look for
to fulfill their needs/wants?
6. Which stage of the product life cycle is your product?
B. PLACE
1. Describe how this product is distributed. Discuss the issues around the distribution
of this product (perishability/inventory, simultaneous production &
consumption/inseparability for services) and implications for marketing this product.
2. Describe and evaluate the retail location through which your product is distributed.
3. Will you distribute your product through non-store channels?
Part 3 – Promotion and Price
A. PROMOTION DECISIONS
1. What are your promotional objectives?
2. What promotional “tools” will you use? Provide details and explain why you would
choose to use these tools. (Be sure to address personal selling, advertising, sales
promotion, direct marketing, and public relations).
3. What is your promotional message?
4. Will your promotions share a uniform theme and style? Explain.
B. PRICE DECISIONS
1. What pricing strategy do you suggest for this product? Why?
2. Calculate the break-even point for selling.
3. What non-financial costs do your customers face when accessing your product?
4. Can you sell enough to cover your costs? Refer to your calculated market
potential.
5. Compare your price to that of your competition. Whose is higher? Describe how
you will communicate your differential advantage.
6. Prepare a Budget
C. CONCLUSIONS
1. Why will this plan be successful?
2. How should the results of this plan be monitored. How may the strategies that are
working be identified? (Eg. Survey customers, track sales, etc.)