Is the competition aggressive?

FINAL MARKETING PLAN
Format of the Final Report
• Cover page with team members names, team name, and product
• The Final report must be submitted in both hard copies and via BB. The hard copy must be professionally provided in a coil spiral binder ( I will not accept folders), typed, double-spaced, 12-pitch font with 1.25 inch left a margin, and 1.0-inch margins for the right, top, and bottom of the page. Pages must be numbered on the bottom center of each page beginning with Executive Summary.
• This report should be submitted with the utmost professional quality – something that a consultant would actually provide to a client CMO and CEO. The final report will be evaluated as a professional marketing plan. It should be professionally presented.
• References: Properly cite your research within the body of the text with a short version (New York Times, 2015) and then using a standard format, including a full reference at the end of the assignment. Use any consistent format such as APA, MLA etc. Links to URLs are required. The link should be imbedded in the text with the full citation at the end.

Executive Summary (first in the report, last to write)
Length: 1/2 to 1 page (maximum)- should be written after you are done with your marketing plan.
This section is a summary of the product’s present status and future direction and tells, in general terms, the purpose of the product or service, the justification for the target market and a summary of the marketing mix strategy. This should stand alone for informing the reader of the main key decisions in the plan. The Executive Summary should include topics such as:
• A description of the product and why it is better than what the competition offers;
• A description and justification for the primary target market, why they will embrace the product and how they will be reached
• Short- and long-term objectives in terms of sales growth, market share or any other objective measurable goal
• A summary of the marketing mix decisions.

Situation Analysis (3-4 pages)
Macro-Environment
Indicate the most important trends, either positive or negative, which may impact your marketing strategy for this product. This should be comprehensive. You should conduct some research here. The four macro-environmental trends are:
• Political/Legal/Regulatory ( reflect on laws and regulations pertaining to your product, safety, packaging, labeling, advertising etc… use websites like https://www.sba.gov/starting-business/learn-about-business-laws/advertising-marketing-law
• Economic (e.g. interest rate, inflation, GDP, debt ratio)
• Technological
• Socio-cultural (e.g., demographics, lifestyles and values with the generation you should target)
Conduct a secondary search and try to identify data/percentages pertaining to the industry
Micro-Environment
Industry Analysis
The micro environment refers to your particular industry – the competitors you compete with and the customers you serve. You can get online information about the industry in general. Numbers are encouraged. Explain whether there a few suppliers or multiple suppliers. Is the competition aggressive? How about general demand over the years… Is it growing? Changing?

Competitive Analysis
List 3-4 major competitors you will face when trying to market this product. At least ONE competitor must be an indirect competitor/substitute product.
Remember that even if you have what seems to be a “new” product that never existed before, there will always be competition.
The Internet is a great place to find descriptions of other companies’ market position and strategies. No one/two-word answers.
Required:
• a live link to competitors’ product web site (not to amazon page)
• Pricing for competitors’ products

Primary data – concept testing survey results ( 2-3 pages, revised)
Competitive Strategy (1 page)
Positioning Statement
Write a one-sentence positioning statement about your product relative to your competition.
Unlike (primary competitive category), our product (statement of primary differentiation).
Positioning Map
• Design a positioning map using the most appropriate variables. Hint: it’s not always price and quality. At least one of the dimensions has to be one of the competitive advantages you have.
Positioning Analysis
• Analyze your position versus the competitors you identified earlier. Do you like where you are? Do you want to change? What are the risks of either strategy?

SWOT Analysis
SWOT analysis considers an organization’s strengths, weaknesses, opportunities, and threats. There are hundreds of great examples online. This marketing plan includes
List at least 3 Opportunities and 3 Threats. These have to be consistent/ intertwined with your macro environment analysis. E.g. if you found that inflation rate is high, then this could be considered a threat. While no company/startup would like to have weaknesses, they are inevitable. Try to be realistic and identify possible weaknesses and strengths. Remember your strengths need to be aligned with your competitive advantage.
Emphasize detail: You should provide a summarized matrix in bullet points and then a narrative text to explain the matrix. In narrative text, use sentences, not single words.

Customer Strategy (2-3pages) – Revised after correction from part 1.

REWORKED ON TRACK Marketing Plan CHECK
Revised you have to revise all my remarks on Concept Testing and Segmentation- NOTE YOU MUST SUBMIT THE ORIGINAL PART 1 WITH MY COMMENTS AND GRADES. FAILURE TO DO SO WILL PENALIZE YOUR GRADE.
Part II- Marketing Strategy
Length: 4-7 pages
Product Strategy (1-2 pages)
• Describe in detail the features and benefits of your product/service. Remember, features are both tangible/functional and intangible/emotional. Indicate both.
• Uncover your brand associations and personality? How will this personality appeal to your target market? What do you want consumers to associate with your product?
• Create a logo for your brand.
• Explain how your features, benefits, and value are consistent with your target market and positioning strategy.
• If a good discuss packaging.
Price Strategy (1-2 pages)
• State and explain your pricing objectives
• What is your suggested price and why?/ how is it different from competitors?
• State and justify what your market introduction pricing strategy is – market skimming or market penetration. Why are you using this strategy?
• What is your suggested list price and why did you select this price? Show how you are taking the concept testing responses into consideration. Prepare a price/quality map versus your competitors
• Show how you addressed the five C’s into setting up your price.
• List relevant pricing adjustments, except promotional tactics, that will help ensure value perceptions for your product
• Explain how your decisions above are consistent with your target market and positioning strategy.

Distribution Strategy (1-2 pages)
• State and justify how your will be making your product available: intensively, selectively, or exclusively. If you are selling through retail, who are your most likely retailing stores? Be realistic – probably not Wal-mart and Target.
• Briefly, evaluate the current channel structure that distributes products like yours and discusses the effectiveness of the current structure. Will you be using these traditional channels or something disruptive? Why?
• Explain how your channels chosen are consistent with your target market and positioning strategy(think accessibility).
Promotion Strategy (1- 2 pages)
• What are two objectives of your promotion strategy and what will you use to measure success with specific marketing metrics?
• Summarize your advertising plan: media, message execution, and frequency. Be specific – e.g., if you say TV advertising, what channels, what programs, what time of day, etc. If online, what sites? If magazines, name them and justify. Find costs if possible. IN JUSTIFYING your choice, you must explain why you have decided against certain media and why you decided for certain ones( you might find the table comparisons p. 590 helpful).
• Create an ad (be creative with colors and logos consistent with your positioning), explain what kind of appeal will you focus on)). What kind of appeal are you using? Why?
• Summarize your publicity (PR) plan in terms of ONE sponsorship strategy. Sponsorship categories are Arts/Culture, Sports, Schools, Environment, Celebrity, Community. List your category, person/brand and what will they be doing for you
• Summarize your sales promotions plan. ( you might find the table comparisons p. 590 helpful). Consider how this might affect your pricing strategy (p.598) (skimming versus penetration)? Is it consistent?
• Explain how your decisions above are consistent with your target market and positioning strategy.

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