Marketing Plan for (Product/Service Name you create name ) Your Name Marketing Class—Mr. Braaten **Individual Project** Due Friday, January 13 See Marketing Plan Elements (on p. 16) Create a cover slide similar to this… 1

Product/Service Idea Background Discuss the process you went through to determine your product/service idea. What ‘sparked’ your idea? 2

Needs & Wants Develop a list of needs and wants that would satisfy your identified target market of people. This will also determine how profitable your product or service will be on the market. 3

Let’s Begin the Marketing Plan Directions: new On the following slides, you will be responding to questions that will help you develop an actual marketing plan for your new product or service idea. Be sure to utilize your book pages as indicated. Be very specific and complete in your information. You may choose to use PowerPoint or any other appropriate form of media to develop your plan. (ex: Prezi, etc.) 4

Business Mission Statement Create a mission statement for your company. Pretend that your product or service idea has taken off and you have actually started a company. *(See Ch. 2, p. 17 LO 2 for examples of how to write a mission statement). Create your own presentation to answer the following questions about the product you chose: 5

Situation or SWOT Analysis Perform a SWOT Analysis of your product/service idea. (see p. 18) Create a grid showing what you would identify as its strengths, weaknesses as well as opportunities you could forecast and threats you might suspect. S W OT 6

Marketing Objectives Write two possible marketing objectives for your product or service. (See p. 19 for samples) 7

Competitive Advantage From your SWOT Analysis, determine the unique features of your product/service idea that makes it superior to its competitors. (p ). Tell me which of the 4 types of competitive Advantage it would be considered. 8

Competitors! Who are they? Exactly whom do you see as the competition for this product or service? List them and show pictures of their logos, store fronts, etc. 9

Marketing Strategy “Target Market” Indicate who you will target as your main customer. Explain who “they are” in full detail. (see Ch. 4, p ; Ch. 8, p ) Show sample pictures of these people, etc. 10

Marketing Strategy “Target Market” (cont’d) “Position”Explain how you will “Position” your product. (see p ) (you have to understand what positioning means to do this) 11

Product: Product: (Explain your product in detail. Read “What is a product” on p ) Marketing Strategy “Marketing Mix” 12

“Branding” Product cont’d… “Branding” Read “Branding” on p Discuss how you plan to brand your product or service idea. 13

“Packaging” Product cont’d… “Packaging” Read p Create an actual visual of how the packaging on your product idea will look. You can draw it and scan it in, create it in Photoshop, etc. See Mr. B. for assistance or ideas with this. 14

Logo Design Product cont’d… Logo Design Design and create what your logo will look like. Look at other sample logos and try to determine the best way to bring text and a graphic illustration together to represent your product or service idea. Samples : 15

Your Product/Service Prototype Copy and paste a picture(s) of the product or service idea here. Can create an physical model prototype if you choose. If you choose a service business, you can copy and paste any visual(s) that would best represent your idea. 16

Let’s be responsible! Discuss any safety or health concerns you could foresee with your product or service idea. Specifically, what about your product would you say really needs to be tested to make certain it’s age- appropriate, durable and harm-free to your possible target market? Think of all possibilities!!! Think of some critical consumer product groups trying to break it down to find fault of some kind. Address all your areas of concern. Support your work with visuals. Product con’td…“ Possible problems/concerns with product… 17

Place (distribution): Place (distribution): Explain how you use “place” strategies for your product in detail. Read “Place Strategies” on p. 25). Support with visuals of place– Ex: location on store shelf, geographic location for business, etc… Marketing Strategy “Marketing Mix” 18

Promotion : Promotion : (Explain how you would “promote” (Advertise) your product in detail. Read “Promotion Strategies” on p. 26). Create a print ad sample of your product. It could be the “launching ad” that would be published. Can use photoshop. See Mr. B. for ideas. Marketing Strategy “Marketing Mix” 19

“Social Media” Promotion cont’d. “Social Media” Read Ch. 22, p Is there a social media opportunity to promote your product or service idea? Consider this and discuss the specifics of what you would do and how you think it would work. 20

Pricing : Pricing : Explain how you would consider pricing your product in detail. Read “Pricing Strategies” on p For additional information, see Ch. 19 & 20. Marketing Strategy “Marketing Mix” 21

Implementation : Implementation : Discuss how you would implement one of your marketing objectives you previously mentioned. (See p. 27) Marketing plan Follow-Up 22

Evaluation & Control : Evaluation & Control : Discuss how you would evaluate and control that same objective. In other words, how do you know it’s working and what would you do if it’s not? (See p. 27 for further explanation) Marketing plan Follow-Up 23