MARKETING PLAN PROJECT.(Opens Up April 8)
The purpose of this exercise is to think critically about the planning of a launch of a new product or an improved product…. .
In this exercise, you have the opportunity to develop a short version of a typical market plan for a consumer product. You are to select a product to evaluate. It must be physical/tangible (no services). For example, you can select a common, familiar, inexpensive item such as a grocery product. In terms of products to pick……You can pick any commodity product you see in a supermarket, retailer (eg. Nike), beverage, energy drink, electronics, drug store/area….such as hair care, over the counter women’s/feminine personal hygiene products (any type, brand), men’s personal hygiene products (any type/brand) , Over the counter contraceptives (any form, type) and other intimate sensual oil and lubrication products…
When picking the product you don’t want it to be too big (eg.Coke..But to narrow it down to Diet Coke etc) and all product MUST be US based (have a mfg div in the US) and also do not do on a company, service or a generic product in a store …some students did this and had to do all over. All types of Products have Marketing Plans…..we will be doing a short version of the Marketing Plan including, the strategies,
objectives and goals, the 4 P’s., marketing research, fore casts , implementation and controls …again, be creative and think outside the box. (any over the counter products are game) BUT use a product that most people (as consumers) are familiar with.
Sample Outline of the Marketing Plan
Product Identification and brief description of the company (include the description of your product and features and benefits)
The strategy behind the plan
Situation Analysis (This is the section heading, which includes an introductory paragraph) 3 a Market Summary (why is there a need for the product) 3 b SWOT Analysis 3.c Direct and Indirect Competition
Overall Marketing Strategy
Marketing and Financial Objectives
Target Markets
Positioning
Marketing Strategies
Marketing Program..4 P”s Pricing Distribution Promotion Customer service Product
10 Marketing Research
11. Controls
12. Implementation
13.Budget
NOTE:
Prepare the plan’s cover page and a Table of Contents,
Prepare the Marketing Plan’s Executive Summary (maximum one page),
Organize your plan according to the format of the sample plan outline,
Place the cover page and Table of Contents (with Page numbers) before the Executive Summary.