WRITTEN PLAN (100 POINTS)
Instructions
A marketing plan should be focused on the end consumer. This is different from a business
plan.
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Emphasis should be placed on using marketing techniques to increase the value of the
selected client’s products or services to its determined target audience. Marketing
techniques should be informed from primary and secondary research and show a clear
understanding of client’s needs.
•
A marketing plan is concerned with the future. Historical information is very valuable, but
the actual plan must be a projection. A plan presented in the current year should be
developed for the following year. A three-year timeframe is suggested, which would
mean the inclusion of the two years following the current year.
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The project outline should include the following aspects of the marketing process:
Brief description of the client and its product or service attributes (5 points).
Situational analysis (30 points).
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Client’s status in the current market
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Trends in the industry
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Competitor analysis (displayed as SWOT analysis)
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Client’s SWOT analysis, with consideration to service or product
o
Primary research results (surveys, focus groups, interviews)
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Buyer profile and behavior, as discovered through primary and secondary research
Business proposition (20 points).
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Develop a mission statement
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Make key planning assumptions (cite sources of information).
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Identify the target market and its attributes.
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Have short and long-term objectives — must be specific, measurable, attainable and
have completion dates (SMART objectives)
Strategies and action plan (25 points).
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Product
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Price
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Place
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Promotion
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Position
Projected budget (10 points).
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The marketing budget should outline realistic, specific costs connected to the
recommendations as outlined throughout the plan. The budget should be future-
oriented and include the current year plus two additional years in advance, detailing:
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Cost of marketing strategies
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Pro forma income statement that details the realistic costs and returns of the
marketing strategies
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Calculated financial return of the marketing plan
The budget should not illustrate the client’s entire financials; and only detail those financial
items directly impacted by value-added marketing efforts. The agency’s objective is to
showcase true value and return specific to its marketing recommendations, as part of
delivering enticing and effective solutions to its selected client.
o
Teams should utilize the following formula to calculate ROI. ROI should be specific to
marketing recommendations:
[($ Sales – $ Marketing Cost) / $ Marketing Cost ] x 100 = % Marketing ROI