Business Marketing Plan

Business Marketing Plan

The following assignment sheet (or something quite similar to it) should accompany the marketing plan exercise.   Students should understand that they must address all nine elements in their final presentations before the class.

BUSINESS MARKETING PLAN

The most important part of any marketing program is the preparation of a marketing plan for a product or service that has not been introduced by the firm. There are essentially three component tasks that are performed to create an effective plan. First, situational analyses of the industry, competition, and the company sponsoring the new product or service are performed. Second, the business market and, because the demand for many business products and services are derived from the demand for finished consumer products and services, the consumer market is also segmented and targeted. Third, the product or service is positioned, distribution is established, promotional advertising and personal selling strategies are specified and finally the marketing mix is priced to identify its profit potential.

The Marketing Plan Draft Presentations
  1. Company and product/ service descriptions
  2. Industry, Competition, and Company Analyses
  3. Markets: Business and Consumer
  4. Market share and sales forecast
  5. Product Strategy
  6. Price strategy
  7. Place/Supply Chain Strategy
  8. Promotion(Advertising) strategy
  9. Promotion(Personal selling) Strategy

MARKETING PLAN EXPLANATION

  1. THE PLAN IS A TEAM PROJECT AND THE COMPOSITION OF THE TEAM IS DETERMINED BY THE STUDENTS THEMSELVES. THE NUMBER IN EACH TEAM IS GENERALLY EITHER 4 OR 5. THE TEAMS ARE NEW PRODUCT DEVELOPMENT TEAMS.

  2.   TO KEEP TRACK OF THEIR PROGRESS THE TEAMS PRESENT THE NINE DRAFT PRESENTATONS IN CLASS. EACH MEMBER MUST PRESENT AT LEAST ONE AND, IN MOST CASES, TWO DRAFTS.

  3. THE STUDENTS SELECT THE FIRM THEY WILL REPRESENT AND THE NEW OR MODIFIED PRODUCT OR SERVICE THAT WILL PROVIDE THE FOCUS OF THEIR PLAN...