The outcome of marketing planning is the development of a marketing plan. As noted earlier, a marketing
Question:
The outcome of marketing planning is the development of a marketing plan. As noted earlier, a marketing plan is a written document that outlines and explains all the activities necessary to implement marketing strategies. It describes the firm’s current position or situation, establishes marketing objectives for the product or product group, and specifies how the organization will attempt to achieve those objectives.
Imagine that you work as a marketing analyst in Skincare Company and you are responsible for creating a marketing plan which must covers the following assignment of responsibilities and tasks. In PowerPoint slides present the following tasks:
1. Company Profile
Company Name:
Major products and/or services:
Target customers:
Distribution channel(s):
Key competitors:
Link to website: 2. Market Segmentation & Targeting
What problem does your product or service solve?
Who are potential customers?
What are the key segments within this market?
Which segment does this marketing plan focus on, and why? Why do you believe this segment will offer growth and profit opportunities? 3. Situation and Company Analysis Competitive Environment
How many competitors do you have? Who are the key competitors? What are the key competitive advantages of each one? What is your advantage over competitors?
4. Customer Decision-Making Profile Factors Influencing Customer Decisions
- State how the following factors affect the consumer buying decision process (your target market):
*Personal and demographic characteristics: e.g., age, gender, family size, family life stage, income, personality. (Select one factor)
5. Marketing Mix (4Ps)
Product Strategy
- Describe your product or service. What recommendations do you have for improving the offering to fit your target market’s needs? Pricing Strategy
- How is your product or service priced today? How does this compare to competitors
Place: Distribution Strategy
- What are the best distribution channels and methods for you to use, and why?
Promotion
- What are the activities used to inform individuals or groups about the organization and its products?
6. Ethics and Social Responsibility
- It is no longer acceptable for businesses to disregard issues around ethics and social responsibility. Suggest and describe what your organization is currently doing regarding corporate social responsibility?
