...Strategic Marketing ANNUAL MARKETING PLAN The goal of this project is to provide you with an experience in addressing a real-life marketing opportunity, i.e. you will be creating an "original" product concept, gaining an understanding of a particular market, deciding which customers to target, and developing the marketing mix required to introduce your product concept. You may develop this project from the perspective of a start-up company or an established firm who is adding your novel product/service to their existing line. Written Final Report: A single comprehensive final report (not to exceed 20 pages; plus bibliography and exhibits). Document should be double spaces and stapled in top left corner (with a cover page but no covers). Report due on or before May 9, 2015. All following points/exercises should be considered as you’re developing your marketing plan as the answers will help you write the final report. The points/exercises are NOT part of the report but you will use the information in your final report. Situation Analysis/Utilizing Secondary Sources of Information 1. Specify your tentative product concept. (As you progress through the exercises you are likely to refine, or possibly change this.) 2. Find the NAICS/SIC code (corresponding to a manufacturing industry) that most closely describes your product category. Use economic census data from the U.S. Census Bureau to find and report the total sales and number of competitors...
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... |Page | |How the unit works and Command Words | | | | |2 | |Pass 2/Merit 1 | | | | |4 | |Pass 3/Merit 2 | | | | |5 | |Pass 4/Merit 3 | | | | |6 | |Pass 5/Distinction 1 | | | | |7 | How this unit works: You will be working in a small team (chosen by your tutor) throughout the unit. You will come up with a business idea together. Each team will occasionally be partnered with another group who will be known as your ‘critical friend team’. You will exchange ideas and feedback with them. • Your group will pitch the business idea to a panel who will decide whether to accept your idea, and who will also give you some advice and guidance • You will produce a report on your target market • You will be interviewed to find out what skills you have that can help the business and how you can improve • You will write...
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...objectives and financial objectives. • Make sure that the marketing plan is suitable with the product’s target market. II. Marketing plan guideline 1. Executive Summary (1 page) 2. Situation Analysis: Market Summary • Market Growth (1-2 pages) Explain market and segment growth over past periods and the forecast market and segment growth. Explain any factors affecting the market and segment growth. • Market Trends (1-2 pages) Explain the nature of market and segment trends that will affect the brand’s performance. • Market Needs (1 page) Analyze the target market’s current needs and explain how the brand can satisfy the needs. • Market Demographics (1-2 pages) Describe the brand’s current target market in terms of demographic, geographic, and behavior factors. SWOT Analysis (2-3 pages) • Strengths • Weaknesses • Opportunities • Threats Competition Analysis (Comparison tables, graphs, and charts are needed) (2-4 pages) • Describe direct and indirect competitors in terms of: o Target markets served o Product attributes o Pricing o Promotion o Distribution including the distributor network o Services offered Product Offering (2-3 pages) • Describe the company’s product for the following details: o Product Attributes o Pricing o Distribution o Promotion o Services Offered o Current product life cycle Keys to success (1 page) • Identify the important keys to success of the brand 3. Marketing Strategy Mission (1 page) Marketing...
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...BUSN319 Final Exam Study Guide YOU MAY WANT TO PRINT THIS GUIDE. 1. The Final Exam is open book and open notes. The maximum time you can spend in the exam is 3 hours, 30 minutes. If you have not clicked the Submit For Grade button by then, you will be exited from the exam. In the Final Exam environment, the Windows clipboard is disabled, and you will not be able to copy exam questions or answers to or from other applications. 2. You should click the Save Answers button in the exam frequently. This helps prevent connection timeouts that might occur with certain Internet service providers, and also minimizes lost answers in the event of connection problems. If your Internet connection does break, when you reconnect, you will normally be able to get back into your Final Exam without any trouble. Remember, though, that the exam timer continues to run while students are disconnected, so students should try to log in again as quickly as possible. The Help Desk cannot grant any student additional time on the exam. 3. See the Syllabus section "Due Dates for Assignments & Exams" for due date information. 4. Reminders * You will only be able to enter your online Final Exam one time. * Click the Save Answers button often. * If you lose your Internet connection during your Final Exam, log on again and try to access it. If you are unable to enter the Final Exam, first contact the Help Desk and then your instructor. * You will always be able to see the time...
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...Statement……………………………………………………………………………………………….….3 Consumer Product Classification 3 Target Market 3 Competitive Situation Analysis 3 Analysis of Competition using Porter’s Five Forces Model 3 SWOT Analysis 4 Strengths and Core Competencies 5 Weaknesses 5 Opportunities 5 Threats 5 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 6 Marketing Strategies and Implementation 7 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Explanation of Strategies………………………..……………………………………………………………………………………………….7 Implementation Plan 7 Product Tactics 8 Price Tactics 8 Place Tactics 8 Promotion Tactics 8 Monitoring Procedures 8 Introduction While this section is not expressly requested in the task instructions, it is usually helpful to write a paragraph that introduces Company G and the product that you are writing this marketing plan about. Product Description and Classification Product Description and Support of the Mission Company G Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronics solutions.” The task instruction is to describe your product and explain how it supports the mission statement, provided above. This should be a 1−2 paragraph section that includes a detailed description of your product. Then discuss how the features of your product support the given Company G mission statement. Consumer...
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... |Content suggestion |Notes | |Explain the purpose of marketing research for businesses. |You need to say why businesses carry marketing research out and what the benefits | | | |to the business are. | | |Identified and explain who your possible target market is |You should use the information you identified through segmentation in Task 1. | | |likely to be. | | | |Identified the size, structure and dynamics of the market in |Your explanation should include: | | |which your product is entering into. |What size is the market nationwide? | | | ...
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...product that you find interesting (physical good only not a service). Examples include: car, motorbike, mp3 player, mobile phone, computer, refrigerator, television, dishwasher, fashion items (jewellery, clothes). Other products can also be used. The product must be a real product, currently available in the market. As a marketing consultant hired by the company, you are required to prepare a presentation that identifies a new target market for the product and develops a creative marketing mix strategy. You are required to submit the PowerPoint slides with accompanying script in notes format (on the toolbar menu choose view – notes view – slide in the top and transcript in the notes section). Presentation requirements Prepare a 15 minute presentation (slides plus transcript for external students) that covers: 1. Title page – (title, name/(s), date) and Overview of the Presentation (2 marks) 2. Background to the product (5 marks) * Provide a brief company background (market share, company size). * Describe the product, including the attributes and price. 3. Target market (refer to pages 71–6) (10 marks) * Identify a new target market for the product, based on relevant segmentation variables from each of the five bases (minimum 3 variables)....
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...Music in Your Food You are employed by a market research agency. The agency is highly regarded for the quality of research that it carries out on behalf of many high-profile clients. You have been assigned to handle a commission from Levi Roots. Within the next 18 months, his company wants to launch a new ‘packaged sandwich’ product that will be offered alongside its existing portfolio of products in the UK market. Task 1 P1, P2 and M1 You and your boss will be meeting with Levi Roots to discuss the market research options available. Before this meeting you have to provide part of a pack that will be given to Levi to explain the process you will be undertaking. You are tasked with describing the types of market research that could be used and explaining how different research methods could be used to make a marketing decision about whether or not there is a market for a ‘packaged sandwich’ product as part of the Levi Roots range. Also, explain which market research methods you recommend using (as they are the most appropriate) to enable Levi to identify whether the market is of sufficient size to be profitably exploited? P1 Describe types of market research Grading Tip Make sure that you identify in your pack the main types of market research – primary/secondary, qualitative/quantitative, and internal/external. Give examples of each type and the advantages of each method. P2 Explain how different market research methods could be used to make a marketing...
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...MARKETING PLAN ASSIGNMENT MM522Marketing Management This marketing plan assignment gives you the opportunity to practice developing an integrated business and marketing strategy for a product or service of your choice. It also helps you to develop a strong business-oriented written proposal and communications expertise. As the course progresses, you will be developing each of the elements of this marketing plan. Good marketing plans come in many different formats. We have chosen this format to follow our course of study. An important element of this plan is practicing the use of applied business research tools to gather information about your proposed product or service, its industry, competitors and possible markets. At least part of your research should be conducted on-line for this project (e.g. Keller’s “Virtual Library”, the Internet at large, other proprietary on-line databases). You also have many other sources of potential information: • Internal, non-proprietary company information • Consider calling competitors for product and company information • Conduct telephone interviews of potential customers • Use empirical observation of prospective customers • Conduct customer surveys • Conduct a literature search at the library • Review periodicals for articles and advertisements The development of this Plan is an on-going and integral part of this course. At your option, you may submit one double-spaced section...
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...your own independent reading to help you answer the questions. The School Social Enterprise Group is struggling to effectively market their fund raising activities for the coming term. As non Business Studies students they are finding it very difficult to understand how to develop a meaningful relationship with their target market. You have been asked to develop a training presentation for them to assist the group in understanding how to develop Relationship Marketing strategies. You are encouraged to use Boots as an organisation to base the presentation on but may select another organisation if you wish. The School Social Enterprise Group is struggling to effectively market their fund raising activities for the coming term. As non Business Studies students they are finding it very difficult to understand how to develop a meaningful relationship with their target market. You have been asked to develop a training presentation for them to assist the group in understanding how to develop Relationship Marketing strategies. You are encouraged to use Boots as an organisation to base the presentation on but may select another organisation if you wish. Task One PASS (P1) Describe the meaning of relationship marketing Describe the meaning of relationship marketing P1/a Explain the term ‘relationship marketing’ P1/b Explain the term ‘brand loyalty’ P1/c...
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...& 36Task 2 | Unit Title. Market research in business Starting a Small Business | Applicable to: | | | Extended Diploma | | P/M/D Criteria covered: | Task 2: P1, P2, P3, M1 – U10 & P2 - U36 | Performance criteria being addressed in this assessment:Unit 10 - Market research in businessLO1 – Understand the main types of market research used to make marketing decisionsLO2 – Be able to plan researchP1 - Describe types of market researchP2 - Explain how different market research methods have been used to make a marketing decision within a selected business or organisationP3 – Plan market research for a selected product or service using appropriate methods of data collectionM1 – Explain with examples, how different market research methods are appropriate to assist different marketing situationsUnit 36 – Starting a small businessP2- Explain how to identify the target marketAssignment & Tasks:Scenario:Following on from your initial business idea pitch, you are about to plan your market research. To make sure you are on the right lines before you begin you prepare an interim report to submit to a marketing expert friend. They have kindly agreed to look over it and make suggestions for you ahead of you conducting the research for your business. You must include the following; 1. An overview of the main types of market research, primary, secondary, both qualitative and quantitative. 2. Explain which of these methods suit different market research objectives and which...
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.... BTEC Double Business - staring a small Business Unit 36 By Greta Maneikaite (centre number 27102) Content page P1 Present the initial business idea using relevant criteria P2 Explain how to identify the target market P3 Describe the skills needed to run the business successfully and what areas require further personal development P4 Describe the legal and financial aspects that will affect the start-up of the business P5 Produce a proposal containing the essential information for the start-up of a business. M1 Explain methods used to identify the target market for the proposed business M2 Analyse the personal development needed to run the business successfully M3 Assess the implications of the legal and financial aspects that will affect the start-up of the business. D1 Present a comprehensive business proposal that addresses all relevant aspects of business start-up. Unit 36 – Setting up a Small Business P1 Present the initial business idea using relevant criteria Introduction to my business: Golden tanning Salon will open in my local town Corby within Northamptonshire. The reason for opening a tanning salon is because there aren’t many tanning salons within the Corby area. Today’s world trend is for people to look fit and have a natural tan complexion especially in a country like this where we don’t get a lot of sun to develop a tan. I am going to be introducing my business plan which I am intending to set up. In order for me to develop my business...
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... 1. Explain the role of marketing in different types of organisation 2. Explain the importance of different types of marketing research | Contents 1. Identify three key characteristics of the marketing concept (150 words) 2. Explain Britvic’s micro and macro environment (100 words) 3. Explain why market research and the information gathered are important to an organisation like Britvic (150 words) 4. Explain how Britvic might collect and use market research information. Include one quantitative and one qualitative research technique in your response (150 words) 5. Explain the process of market segmentation and targeting and the benefits of segmentation and targeting to Britvic (150 words) 6. Explain marketing theory in relation to each of the 4 P’s. Explain the factors that would affect how Britvic might decide on their choice of each of these items (600 words) a. Product mix and individual products b. Distribution channels c. Pricing methods d. Promotional methods 7. In marketing a service, explain the importance of: (300 words) a. Process b. People c. Physical environment 8. Explain how Britvic might adapt their marketing mix in response to three possible changes in market conditions. (300 words) 1. Identify three key characteristics of the marketing concept (150 words) ...
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...Office Phone: 865-2815 ext. 8112 Business Department Chair (Suite AB107) "Marketing requires separate work, and a distinct set of activities. But, it is a central dimension of the entire business. It is the whole business seen from the point of its final result, that is, from the customer's point of view. Concern and responsibility for marketing must permeate all areas of the enterprise." Peter Drucker, Management Course Description This course provides the student an opportunity to understand the decision-oriented realm of marketing in modern profit and not-for-profit organizations. Through a broad introduction to marketing concepts, the student will gain an understanding of the roles and operations of the free enterprise, competitive market system in the American and world economies. Through exposure to the "language" common to marketing managers, the student's development of relationships with business entities, governments, and associations will be enhanced. Course Objectives The student is provided the opportunity to understand the fundamentals of marketing for applications in modern organizations. By the end of the course the student will be a more intelligent consumer and citizen. The student should develop an appreciation of marketing application strategies. The student will develop insight into creative marketing plans and the impact of environmental influences, pricing, product, distribution, and promotion decisions, and ethical practices. The course outline includes...
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...BTEC NATIONAL IN BUSINESS (MANAGEMENT) Unit 37 – Starting a Small Business Assignment 1 – Present your business idea This task assesses P1 Present the initial business idea using relevant criteria Signed (IV) _________________________________ Print Name__________________________________ This unit is all about starting your own small business. The assignments will take you through the planning process in order to complete your own small business plan. This may be a business you are thinking of starting in the future. To complete this assignment you should think of a business idea that you will be able to research and plan for. It should be realistic. You will present your idea to an assessor and some of your class mates. |P1 |Task 1 | | | | | |You should consider whether your business will be new, a franchise or whether you are going to buy an existing | | |business. Your bank manager has asked for your thoughts on this before he/she makes an appointment to discuss your | | |plan. | | | ...
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