Strategic Marketing Plan for a New-to-the-World product or service

Strategic Marketing Plan for a New-to-the-World product or service

Project Description – Your task for the semester project is to create a Strategic
Marketing Plan for a New-to-the-World product or service that significantly fulfills a
specific customer need and will result in substantial growth for a three to five year
period. The budget is $300,000. The product or service you chose for your project
must be realistic and have a benefit that will allow the creation of value and
profitability for both your target market and your newly developed company. The
$300,000 investment must pay a cumulative net ROI before taxes of 100% by the
end of year 5. This means your company’s total net profit before taxes by the end of
year 5 must be a minimum of $300,000 which would include executive and manager
salaries as a fixed cost allocation.
Report -The Strategic Marketing Plan must be between 7-10 pages (single-spaced)
which does not include the cover page and the appendix. Also required is a 10 slide
PPT presentation. Projects will be graded on accurate description and alignment of
the company’s external environment with its internal strengths and weaknesses along
with full formulation and implementation of the marketing plan for the organization.
Due Date – All reports and PPTs must be uploaded in Canvas by 7/27/18 by 11pm.
Grading -This project is worth 25% of the total course grade
The following is a list and description of important sections to include in the
Strategic Marketing Plan . . .
Section 1: Executive Summary
This is perhaps the single most important element of the plan. With a maximum of
two pages, write an Executive Summary that “sells” the document to readers through
clarity and brevity.
Section 2: Company and Product or Service Description
Describe your newly formed company and create a hierarchical structure of the
company that would include the positions that each group member holds (if you are
working with a group) in the organization. For the product or service, describe in
detail the new product or service your company is creating keeping in mind that it is
imperative that your product or service offering fulfills the needs of a specific market
segment of the population.
Section 3: Strategic Plan and Focus
This section sets the strategic direction for the entire organization. It consists of (1)
the Mission Statement, (2) Goals – both financial and non-financial, and (3) the
company’s Core Competency and Sustainable Competitive Advantage.
Section 4: Situation Analysis
This section is a snapshot to answer the questions, “Where are we now?” It consists
of (1) the SWOT Analysis, (2) the Industry Analysis, (3) the Competitor Analysis, (4)
the Company Analysis, and (5) the Customer Analysis. This section is critical as it
will help to lay a strong foundation for your Strategic Marketing Plan.
Section 5: Product-Market Focus
This section describes the five-year marketing and project objectives for the
organization. It consists of (1) Marketing and Product Objectives, (2) Target Markets,
(3) Points of Difference, and (4) Positioning. Use this section to describe your target
markets and marketing strategy.
Section 6: Marketing Program
This section describes the four marketing mix elements and actions that plan to be
implemented by the company. This includes (1) the Product Strategy, (2) Price
Strategy, (3) Promotion Strategy, and (4) Distribution Strategy.
Section 7: Financial Data and Projections
The marketing mix decisions covered in the marketing program have both revenue
and expense effects. These are summarized in this section of the marketing plan.
The categories will include (1) Five-Year Projections. Remember the budget is
$300,000. The product or service you chose for your project must be realistic and
have a benefit that will allow the creation of value and profitability for both your target
market and your newly developed company. The $300,000 investment must pay a
cumulative net ROI of 100% by the end of year 5
Section 8: Implementation Plan
This section shows how the company will turn plans into results. Set deadlines and
assign responsibilities for the tactical marketing decisions that are needed to enter
the new market.
Section 9: Evaluation and Control
Describe, in this section, a contingency plan for alternative actions, depending on
how successful the entry into a new market turns out to be.
Section 10: Bibliography
All reference material and websites used to complete the Strategic Marketing Plan
must be included in this section.
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Note: A copy of a sample marketing plan has been included on Canvas for you to
download and use as a guide to effectively develop the Marketing Plan for the
organization.
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Group Member Evaluation
Your Name
Group Number
Group Member Evaluation – List the names of all group members (EXCEPT
YOURSELF) in the spaces below. Next, allocate 100 total points among the other
group members based on your perception of their contributions.
For example, if you had 6 members in your group, including yourself, you would be
evaluating 5 people. If everyone contributed equally to the case analyses and
Marketplace simulation, you would give each member 20 points. If people did not
contribute equally to the project, you may change your allocations accordingly.
Student Name: _____________________________ ___________ points
Student Name: _____________________________ ___________ points
Student Name: _____________________________ ___________ points
Student Name: _____________________________ ___________ points
Student Name: _____________________________ ___________ points
Total points must
equal 100 pts.
If appropriate, please specify the reason(s) why your point allocations to a particular
student or students is significantly lower than the other members of the group in the
space provided below.

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