10 Marketing Plan
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This marketing plan document outlines the key components of developing an effective marketing strategy including conducting external and internal analysis, defining objectives and target markets, and creating a marketing program. The plan involves analyzing industry trends, competitors, and customer demand to determine an appropriate business strategy. It also includes projecting effective demand and market share over the planning period based on the marketing mix of product, price, promotion, and place.
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Marketing Plan[Product Name] Marketing Plan[Product Name]Market.docx
Marketing Plan
[Product Name] Marketing Plan[Product Name]Marketing Plan
BU 220: Principles of Marketing
Herzing University
Professor Name
Your Name
Date
Executive Summary
Provides an overview of the entire Marketing Plan
Part I: Situational Analysis
Internal Analysis
-Company History
-Market Data from your research about the company
· Other pertinent information
Market Description
-Competitor’s Analysis:
Provide an overview of product competitors such as-Competitor A
Competitors’ strengths
Competitors’ weaknesses’
Market Share
Current Marketing StrategyCompetitor B
Competitors’ strengths
Competitors’ weaknesses
Market Share
Current Marketing Strategy
Current Marketing Mix
-Description/Situation for the Existing Mix
-Review the current market mix, which can include:
Product- Describe the product or service being marketed.
Place (Distribution)
Pricing (Costs to the Company to Produce as well)
Promotions
The Organization’s SWOTT Analysis
Internal:
Strengths
Weaknesses
External:
Opportunities
Threats
Trends
Part II: Market Analysis
Objectives and Issues
Provide at least 2 objectives that are specific as well as measurable.
Marketing Strategy
Branding
Explain how the product will be branded, what branding strategy will be used?
Positioning
Distinctly define the product in its market and against its competition over time.
Position each competitor’s product against the new product.
Consumer Promise-Summarize the benefit of the product or service to the consumer.
Target Market ( Market Segmentation).Messaging by Audience-
List marketing messages for different audiences.Targeted Consumer Demographics-
List the demographics for the targeted consumer groups.
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Product
-Describe the product -Product Packaging
Discuss:
Form-factor, pricing, look, and strategy.
Fulfillment issues for items not shipped directly with the product.
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