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Assignment-3 Marketing Plan
1. Develop critical and analytical thinking necessary to overcome challenges and issues of marketing in the changing global environment. (LO-4)2. Use effective and collaborative interpersonal skills to carry out scientific analysis of consumers’ needs and wants to formulate a marketing Plan. (LO-5)
You have been hired by a local company as a marketing manager and you are assigned to write a Marketing Plan for the company. Based on thefollowing Contents and related guidelines, write a brief marketing plan for that company.
1. Introduction, Goals and Objectives (2 Marks)
To introduce this section, you should include the Vision and mission statements of the business; an idea of what its goals are for customers, clients, employees and the consumer.
• Introduction about the business.• Business vision and mission• Business objective.• Products and services offered2. Environmental Analysis (2 Marks)
Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers.
3. Target Market Analysis (2 Marks)
Identify the target market, describing how the company will meet the needs of the consumer better than the competition does. List out the expectations consumers have for the product.
4. SWOT Analysis – Conduct a Swot Analysis of the business to explain what actually are the strengths and weaknesses that the company has and the threats and opportunities. (2 Marks)
5. Marketing Mix Analysis (4 P’s Analysis) (2 Marks)
Product or Service- Identify the product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for the company to produce it, why a consumer demand exists for your product, and where your product sits in comparison to similar products/services now available.
Place- Identify the location of your business, why it is located there (strategic, competitive, economic objectives), your expected methods of distribution, and timing objectives.
Promotion – Describe the type of promotional methods you will use to spread the word about your product. Identify techniques such as word of mouth, personal selling, direct marketing, sales promotion etc. television, radio, Social media and newspaper ads.
Price – The prices of your products or services that reflects the overall company strategy. Should be competitive as well as a reflection of the quality, costs and profit margin.
1. This is an individual Assignment2. Word count should be between 600-700 words.3. Avoid plagiarism4. References from related sources is required to validate your Answers.