Assignment Solutions on Marketing Plan for MBA Students
A marketing plan is a written document that summarizes what the marketer has learned about the market place and indicates how the firm plans to reach its marketing objectives. It contains tactical guidelines for the marketing programs and financial allocations over the planning period. Marketing plans are becoming more customer and competitor oriented. They draw more realistic from all the functions. Planning is becoming a continuous process to respond to rapidly changing market conditions.
The main contents of a marketing plan
Executive Summary
- Why, What and How
Current Marketing Situations
- This contains relevant background information regarding the existing market, market share, competitors, and the various forces in the
- How do we define the market, how big is it, and how fast is it growing? –
- What are relevant trends?
Opportunities and Issue Analysis – SWOT Analysis
- This contains sales and profit forecast
- What is the offering, and what critical issues do we face?
- SWOT analysis
Objectives
- They are simply a matter of deciding where you want to be and when you want to get
- The purpose of your marketing plan to launch a new product or line of products?
- Achieve 10 percent market share within the first 12 months of product
- Increase revenue 12 percent from our existing line of products over the next six months while maintaining current profit margins
Marketing Strategy
- Market segmentation, Market Targeting and Market Positioning
- Marketing Mix Strategy-Product, price, place and promotion
- Research oriented plan
Action Programs
- The operational marketing plan itself for the period under review)
Financial Projections
- Price
- Breakeven
- Price, breakeven, profit justification
Implementation and Controls
- Periodical review and corrective action
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