Description
Option #1: Marketing Plan for a Company and Product/Service
Your final project is a marketing plan for the company and product or service of your choice. If you are choosing a large global company, you MUST create a new product. However, this new product may be an upgrade of an existing product.
You need to select a company that you have not used for your other assignments in the class. Your plan information should address all areas covered in this course for a marketing plan. The "Company-Business Profiles" link found in the Library under the How to Find section, is a great place to look for company information for this assignment.
Below is the outline to be followed for this assignment:
Section
Length
Executive Summary. This provides a busy executive everything he or she needs to know to invest (or not) in your proposal. It captures your key proposal and recommendations/decision factors and projected outcomes of the plan's recommendations.
Note: This is not an introduction to the marketing plan. Typically, the executive summary is written after the plan has been completed.
1 Slide
Company Overview. A brief description of the company, including its mission statement, background, and competitive advantages.
1 Slide
Situational Analysis. SWOT analysis—Strengths, Weaknesses, Opportunities, Threats facing the company. Also include any other external factors that may influence future sales, such as legal or social activities.
2-3 Slides
Objectives/Goals. Briefly describe your proposal--what's new and why. What is the opportunity to be addressed or the problem to be solved?
1 Slide
Segmentation and Targeting Analysis. Define and explain why segmentation is needed. Explain the approach taken (e.g., the use of demographics) taken, and name market segments. Define and explain why targeting is needed, and roughly size your target market.
2-3 Slides
Marketing Strategy. Explain and support your marketing mix component decisions, using the 4 P's, academic concepts, and academic reference sources. Create one perceptual map (See Section 5.4 of the textbook for an example.)
2-3 Slides
Branding Strategy. How will the brand be developed and supported? What will be the "implied promise" of the brand?
1 Slide
Ethical Considerations. Explain how the proposed plan aligns with the company's statement of ethics and corporate social responsibility.
1 Slide
Financial Projections. Present a summary spreadsheet. For example: years 1, 2 and 3 units sold, sales volumes. Estimate marketing expenses for promotions/advertising. What is the projected timeline of the product life cycle's introduction and also growth stage?
2-3 Slides
Conclusion
1 Slide
Suggested slide setup and number of slides (25 slides):
Title
Executive Summary
Company Overview
Strengths
Weaknesses
Opportunities (trends)
Threats
Marketing Plan Objectives
Segmentation
Target Market
Positioning Map
Product (features and benefits versus the competition)
Price (compared with competition)
Price Strategy
Promotional Strategy
Place Strategy
Branding Strategy
CSR Strategy
Ethics and Corporate Social Responsibility
Financial Projections
Conclusion
References
Explanation & Answer
Attached.
Stretchable Phones
NAME
INSTITUTION
EXECUTIVE SUMMARY
The world of technology keeps changing and in the next few years new devices
will have been innovated.
Therefore, it would make sense if we took the first step towards that change as
early as now.
People have became very dependent on their devices especially phones.
As such, it would be wise to invest in stretchable screens within our phones.
This will allow for better viewing of the contents of the phone: better experience
of videos within them, movie watching among other things.
The device will, put the company at a greater level where it is again the center of
innovations.
Also, the financial gain will be quite high as research has shown that so many
people are open and like the idea of having an adjustable screen.
Company overview
Apple Inc is a multinational organization that dwells in the designing of electronics that are
computers, smartphones, and software, among other online services.
It was started in 1976 as a computer company by Steve Jobs.
It is among the big four companies in technology.
It produces unique phones that is the IPhone.
Its mission statement is quite detailed as follows “Apple designs Macs, the best personal
computers in the world, along with OS X, iLife, iWork and professional software. Apple leads
the digital music revolution with its iPods and iTunes online store. Apple has reinvented the
mobile phone with its revolutionary iPhone and App store, and is defining the future of
mobile media and computing devices with iPad.”
It shows the products that it makes an their technological value to the people.
It has managed to gain a loyalty to their brand.
Its brand is greatly recognized.
Situational Analysis.
Strength and weaknesses
Brand equity whereby it already has a reputation that many are aware of.
Brand loyalty as it has a loyalty fun base.
Have been known to be innovative as they produce innovative products.
has established a leadership position within its market.
It has established a well reliable distribution ring for its products.
The high margins associated with their products makes for a better brand equity.
They have managed to effectively meet the consumers focus with their products.
As for the weaknesses we have:
Incompatibility of its products with other third party products.
High pricing or rather the premium pricing.
High customer expectations and meeting them can be hard a...
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