Marketing final
Once you’ve done your research, select one of the following businesses
and product lines on which to base your marketing plan:
1. Apple Inc., focusing on the iPhone series
2. Nike Inc., focusing on men’s shoes and sneakers
3. Starbucks Corporation, focusing on coffee products (no food)
Research:
Once you’ve chosen the business for which you want to build a
marketing plan, you’ll need to research the company to complete the
different parts of the marketing plan. You should start by looking at the
company’s website to note the products it offers and their prices, current
advertising and public relations efforts, mission statements, and any
other useful information.
After viewing the company’s website, you’ll need to find additional
articles and expert analyses of the company’s previous and current
marketing efforts, as well as any competitors’ marketing efforts. These
will help you as you form the strategic objectives, SWOT analysis, and
STP analysis outlined in the next section. These materials may not
come from a traditional scholarly source, especially if they’re very
recent, but the sources should be reputable, such as marketing journals,
magazines, or news outlets. Most of the resources will have their
materials available online for free. The research you find should be
incorporated into your marketing plan in the form of MLA in-text
citations, and you must list your sources with full MLA bibliographic
citation on a separate Works Cited page. Three to five sources are
required.
The Marketing Plan:
Your marketing plan should be a Microsoft Word document that includes
1-inch margins, 12-pt Times New Roman font, and is double-spaced.
Add the following header information on the first page:
1. Your name
2. Your student number
3. The course name (MKT301 Marketing)
4. Project number (08009300)
5. The name of the business you’ve chosen followed by the words
“Marketing Plan” (for example, “Nike Marketing Plan”)
6. The date
Your marketing plan will begin two lines below the header information.
Each of the following represents a section that must be clearly identified
in your plan.
Executive Summary:
Write two paragraphs about the business as if describing it to someone who knows nothing about it. For example, what type of business is it?
What needs or wants does it hope to fulfill for consumers? What prime
benefit does it offer? What products or services does the business
provide? Where is it located? Who are the employees? When does it
receive most of its customers? What’s its marketing budget?
Strategic Objectives:
In this section, you’ll write a broad description in one to two paragraphs of the business’s marketing objectives and the scope of the activities it plans to undertake. What’s the business’s mission? What goals does the business hope to achieve via marketing? What does the business intend to do to accomplish those goals?
SWOT Analysis:
Identify the business’s strengths, weaknesses, opportunities, and threats. List three things the business does well, three areas it could improve in, three things working in its favor or to its advantage, and three ways the external environment negatively impacts or may impact the business.
STP Analysis:
Identify the business’s consumer base in three paragraphs. Who are its
potential customers? What are their ages, genders, and interests? What
do they each want and need in regard to the business’s products or
services? Decide which customers you intend to target and how the
business wants to be positioned within the targeted segments. How will
you reach those targeted customers? What’s the message you want
them to receive about the business’s products or services
Marketing Mix:
You’ll address the six Ps—product, price, place, and promotion—of the
marketing mix in this section. You’ll also account for the two additional
Ps in the retailing world—presentation and personnel.
Then, in six paragraphs, address
each of the following:
1. Products/services offered: What products or services need to be
developed so that the target audience will perceive them as valuable
enough to buy?
2. Price: How will the business price these goods so that customers
believe they received a fair deal?
3. Place or distribution: Where will the products/services be sold, and
what methods will be used when selling them?
4. Promotion: How does the business plan to get word out about these
products or services? What allocated resources are needed for
marketing efforts to be put in place and successful?
5. Presentation: Does the business plan to develop a unique image?
How can this unique image and atmospherics be achieved?
6: Personnel: How will the personnel influence sales? What kind of
sales techniques can the personnel be trained in?
Performance Evaluation Metrics
In the final section, you’ll explain, in one to two paragraphs, how and
when the business will know that it has achieved its marketing
objectives. What marketing metrics will be used?
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