[SOLUTION] Marketing Plan Components

III. Current Marketing Situationa. Market Needs – Why does the market need you? What is lacking?b. The Marketi. Market Demographics – Describe your target market to the most detailed characteristic. If you could design the perfect customer for your business, what characteristics would that customer have.ii. Market Growth Trends – What is happening? Why? Is the market increasing or decreasing? Why or why not? How the market is changing? Why? What are the consumer habits and behaviors as it relates to your businesses industry? Why is this important?c. The Companyi. Missionii. Product Offeringiii. Positionind. Competitioni. Direct Competition – Name them. What do they offer? Why do customers buy from them? What do they do better than you? What do you add to the market they do not offer? What differentiates you from your direct competition?ii. Indirect Competition – Name them. What males them a competitor? What kind of alternative are they offering customers as opposed to what you and your direct competitors offer?IV. Threats and Opportunities Analysis – There is no way to do this without conducting a complete SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis. The strengths and weaknesses are things in the company’s microenvironment. These are things the business can control. These can be simple bullet points. The opportunities and threats are things in the companies macroenvironment. These are things that are totally out of the business’s control. These include things like politics, the weather, interest rates, etc.a. Strengths – At least two (Can be simple bullet points)b. Weaknesses – At least two (Can be simple bullet pointsc. Opportunities – You need at least two. You must describe these opportunities in at least three sentences. MAKE IT MAKE SENSE!d. Threats – You need at least two. You must describe these threats in at least three sentences. MAKE IT MAKE SENSE!V. Objectives and Issues – Choose at least two of these (or two of your own) and expound upon them. EVERY ISSUE HAS AN OBJECTIVE. There will be an example of what I am looking for given out in the announcements as time draws near for this section to be completed.a. Increase Salesb. Build Brand Awarenessc. Grow Market Shared. Launch New Products or Servicese. Target New Customersf. Enter New Markets Internationally or Locallyg. Improve Stakeholder Relationsh. Enhance Customer RelationshipVI. Marketing Strategy – a-f are optional. The Marketing Mix is MANDATORY!a. Value Propositionb. Critical Issuesc. Financial Objectivese. Target Market Strategyf. Brandingg. Marketing Mixi. Product Strategyii. Pricing Strategyiii. Place/Distribution Strategyiv. Promotion Strategy1. Advertising2. Public Relations3. Direct Marketingv. Web Plan1. Website/Internet Sales Goals2. Website/Internet Marketing Strategyvi. Servicevii. Sales Plan1. Sales Strategy2. Sales ProcessVII. Action Programs (How you will accomplish the details of your Marketing Strategy.)VIII. Budgets – What are your fixed and variable costs?IX. Controls (How you will measure results of your promotions strategy.)X. References – This goes on a separate page on its own with no other information except references.

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[SOLUTION] Marketing Plan Components
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