MKT 541 Written Work Marketing Plan

MKT 541 Written Work Marketing Plan 

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MKT 541 STRATEGIC MARKETING

FALL 2016

WRITTEN WORK FOR SEMESTER

Introduction

There are several deliverables in your semester’s work.  Please make sure you aware of each one and the deadline for its submission.

Marketing Plan

This piece of work will focus on a company that will be your company in 10 years time.  That is, in 10 years you will have quit whatever job you have and will start a company.  The company will be a service company offering consulting services in a particular industry.  You will (obviously) identify the industry and its sub-sections in your plan.  There are many blueprints for Marketing Plans available through multiple sources.  You are welcome to use any of them with whatever sequencing and formatting you choose.  There is not (just) one way to do this.  However, be aware that you are aspiring to write a professional document that clearly, concisely, but thoroughly explains to the reader (not just me but anyone else who reads it) what this company is about and how it will make money.

The plan will have a minimum 3 year horizon, and you will show how the business grows over 3 years.  You will identify the value-added component (see course work on this subject), why customers pay for the service, who the key decision makers are, and which price points will apply to which parts of the service offering.

The company will grow in terms of revenue, employees, costs, and premises over the period covered by the plan and the plan will explain the growth and the associated costs of this growth.

There are 3 components to the Marketing Plan.  The first is a proposal, the second an interim report and the last a final report.  The weighting is provided in the syllabus.

Proposal

This is a short document; no more than 2 pages.  It will identify the company and its business.  The other sections (each of which will be a maximum of 2 paragraphs) will cover the market and segments the business is targeting, the strategy used to accomplish the company goals, and some indication of the financial information that will be in the report.

Ideally, the reader will know what the final report will look like and what it will be about by reading this proposal.

Interim Report

This will be the first draft of your report.  It is not essential that it is fully completed but every section in the interim report has to have enough detail so the reader comprehends what the company is dealing with and the environment it faces.

This interim report is provided so that you can get feedback and improve upon the deliverable in its final form.

Final Report

Once you have received feedback on your Interim Report you will make changes, improve sections, complete sections, and generally raise the standard of the report for the final grade.

Length of Interim and Final Report

There is no minimum and no maximum.  However, your grade will be determined by the quality of the work not the quantity.  If you are too verbose you will not gain points, but will probably lose them.

Quality 

The standard of writing must be high and the meaning of your work coherent.  The standard of research must be thorough.  The standard of logic and critical thinking must be cogent and incisive.  Aspire to a professional document that you would be happy to show your employer.

Citations and Sources

Clearly you will have to use research (extensively) to build the background industry components of the reports.  When you use a source please cite it and list your sources in an Appendix.  This is not an academic paper.  It is a fund raising document that you can use when you need it.

Below you will find a rubric for one way to prepare your marketing plan.  As noted above, this is not the only structure available to you – but at least it gives you some guidelines.

Situation Analysis  

Situation Analysis section must include:

 Cover page

 Situation Analysis:

                Market Needs

                Macroenvironment

                The Company

                                Overview

                                Mission

                                Product Offerings

 SWOT Analysis

 Competition (Direct and Indirect)

 Critical Issues

 Marketing Objectives

 Financial Information

 Appendix (e.g., Charts/Figures/Tables, Personal Interview(s), References)

Marketing Strategy  

Marketing Strategy section must include:

 Market Demographics

 Marketplace Trends

 Market Growth Rate

 Position: current and alternatives

 Value Proposition: current and alternatives

 Target Market: current and alternatives

 Appendix (e.g., Charts/Figures/Tables, Personal Interview(s), References)

Implementation

Tactics & Recommendations section must include: 

 Marketing Mix Recommendations

                Positioning

                Products/Services

                Pricing

                Promotion (Advertising, PR, Sales Promotion, Selling, Website/Social Media)

                Place (Distribution Channels)

 Controls

 Implementation

 Keys to Success

 Evaluation

 Contingency Planning

 Appendix (e.g., Charts/Figures/Tables, References)

MKT 541 Marketing Plan Project Grading Rubric (written components)
CATEGORY	Excellent	Good	Fair	Poor
Organization	Information is very organized with well-constructed paragraphs and subheadings	Information is organized with well-constructed paragraphs	Information is organized, but paragraphs are not well-constructed	The information appears to be disorganized
Quality of Information	Information clearly relates to the topic; it includes several supporting details and/or examples	Information clearly relates to the topic; it provides 1-2 supporting details and/or examples	Information relates to the topic but few or no details and/or examples are given	Information has limited relevance concerning the topic
Mechanics	No grammatical, spelling or punctuation errors	Almost no grammatical, spelling or punctuation errors	A few grammatical, spelling or punctuation errors	Many grammatical, spelling or punctuation errors
Course Concepts	Marketing Plan illustrates an accurate and thorough understanding of textbook and course concepts	Marketing Plan illustrates a partially accurate understanding of textbook and course concepts	Report illustrates a limited understanding of textbook and course concepts	Report illustrates inaccurate understanding of textbook and course concepts
Plan Completeness	All required sections of are completed	Most of the required sections are completed	Some of the required sections are completed	Many of the required sections are not completed
Analysis	Research is complete and demonstrates thorough understanding of its application and the situation	Research is partially complete and demonstrates some understanding of its application and the situation	Research is incomplete and/or demonstrates limited understanding of its application and the situation	Research is incomplete and/or demonstrates poor understanding of its application and the situation
Tactics and Recommendations (Complete project)	The project identifies meaningful and practical changes and solutions that could be successfully used by the organization	The project identifies changes, but solutions are not well reasoned and/or communicated	The project identifies changes, but no actionable solutions are offered	The project does not identify changes that could be made and/or shows little effort and reflection
Sources	All sources (information and graphics) are accurately documented in the desired format	Some sources (information and graphics) are not accurately documented and/or a few are not in the desired format	Several sources (information and graphics) are not accurately documented and/or are not in the desired format	Many sources are not accurately documented and/or are not in the desired format

Data Analysis Exercises

There are 2 data exercises tom be completed in the course.  Specific instructions will be given closer to the time.  However, these exercises are designed to help you with the marketing plan you develop (see above) and to better understand how important data and interpretation of that data is to the modern marketer.

Data Exercise 1

You will gather as much data (excluding media and “communications” data) on your chosen industry as possible and format it in such a way (tables are essential; graphics are nice but not essential) that an educated reader can look at the presentation and understand the structure of the industry, where the opportunities lie, and where competing companies represent a threat.  You can tell from the above words that data will become an essential part of your SWOT analysis.

Data Exercise 2

This is the next stage in the plan analysis because you will gather as much “communications” data as you can from all sources and develop an analysis of the industry.  More direction on this will be provided as we get closer to this part of the semester.