ISU – BMI3C – Marketing: Goods, Services, Events - Marketing

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ISU – BMI3C – Marketing: Goods, Services, Events
Overview:
You will assume the role of Marketing Manager for a company introducing a new product, service, or event. Your job is to design
an effective Marketing Plan for the new product, service, or event in question.
Although you may choose to market a service or event, selection of a new product concept is highly recommended. The
concept should be innovative and reasonable; however, you do not have to explain the specific technical aspects of how a
product will be produced or operated. Products must be legal for sale in Canada and in good taste. Cigarette or alcohol
products are inappropriate.
For example, you might decide to develop a nail polish that would change colour based on the amount of light (ie. glitter for
evening wear and have a matte finish for daytime). Products such as new soft drinks, cereals, chocolate bars or chips can be
used providing you create a unique selling proposition (USP) for the product. The USP can be related to a significant change in
the formulation of a product or to the format in which it is sold.
Try to select product concepts that are related to your interests (ie. sports, music, fashion, food, technology, video games, etc.)
and you will be more interested and successful.
Your written marketing plan will include many of the elements of a Marketing Plan discussed in class.
Marketing Plan Format:
EXECUTIVE SUMMARY – written last but appears @ beginning of the marketing plan
Due: with final report _____________
PART 1: Company Overview
Due:
Check if
complete
Company name and description of the business
Description of your product, service, or event
Customer profile – describe your consumer target market and detail a customer profile [
PART 2: Situation analysis
Due:
Check if
complete
Competitor analysis – outline potential competitors and compare your competitive position/image in the
marketplace
Industry analysis – conduct a PEST analysis [
Overall conclusion of your product’s potential success based on PEST and competitive analysis
PART 3: Objectives
Due:
Check if
complete
Create a company mission statement
Outline objectives, strategies and tactics for each element of the marketing mix [4 Ps]
This can be done in chart form if desired
[Refer to handouts]
Example of an objective for promotion:
OBJECTIVE  Objectives are simply the goals.
Create awareness of the brand and achieve a 5% market share within the specified market segment.
STRATEGY  Strategies are broad plans of action which companies develop to help them attain their objectives.
Use non-traditional advertising
TACTICS  Tactics are more detailed courses of action than strategies.
Focusing on the Internet as a medium and using celebrities from extreme sports in ads with a humorous twist would
satisfy the criteria of non-traditional advertising.
Part 4: Marketing Strategies
Due: TBD
- Marketing Mix [4 Ps]:
Check if
Product
complete
- brand positioning and U.S.P. (unique selling proposition) – explain choice of brand name, logo, slogan,
colour [
- safety and social responsibility considerations; product features and utility, packaging design, etc.
- Include: a rough sketch of package design and reasons for features, ideal packaging materials etc.
Check if
Price
complete
- predicted nature of demand for your product; pricing strategies; price sensitivity etc.
Check if
Place
complete
- type of channel(s) used; store names, customer service level; characteristics of channel members etc.
Check if
Promotion
complete
- describe your promotional mix, types of promotional materials to be used
- explain the reasons for your choices
- create any two examples of your promotional materials
Ex. if you’ll be doing a radio or TV commercial, you could prepare a script or storyboard using an effective
strategy appropriate to your target market.
OR if you decide to do a print advertisement – magazine, newspaper, direct mail, or billboard –
ensure you have incorporated the main parts of an ad
Part 5: Implementation
Due: with final report
Check if
complete
Detail one marketing activity to be implemented – who, what, when, where, why, how??
Create a Gantt Chart in Excel
Future Plans: future plans for longer term product and/or company growth (i.e. line extensions, related new product
concepts, advertising and promotional plans, etc.) Any expected changes over the product life cycle.
Market Research: issues requiring research; type(s) of research to be conducted; rationale [
Part 6: Appendix
Due: with final report
- Include sketch of package design
- Include examples of promotional materials
- Can include other items such as positioning map, SWOT, charts, graphs, articles, relevant materials, photos, etc
Word Processing Instructions:
- all work to be keyed, 1.5 spaced [highlight text and hit Ctrl+5], 12-point font, 1” margins all around
- attractive, well-detailed title page including: title of assignment, submitted to, submitted from, date, course code/name
- table of contents - List all page numbers accurately and be sure table of contents correlates with actual page numbers
**INCLUDE RUBRIC WITH EACH PART ON DUE DATES SPECIFIED**
It is recommended that students keep all parts in one duotang/folder and staple the rubric to the folder so the
parts can be evaluated when necessary.
Submit all ‘unpolished’ work with the FINAL POLISHED report
FINAL REPORT DUE:
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