Using the information below and referring to the rubric, create your 3-4 page report using 12-point, double spacing. You are to put together a marketing plan for your newly created small business idea that you will present to the bank to get a business loan. The type of business you choose can either be a product or service that you have designed. Of course, you’ll have to predict and be creative. Remember, you don’t need to create anything that does NOT solve a problem! New products should all solve a problem! Marketing 120 Final Project Purpose: You are creating a marketing plan for a newly created small business idea that you will present to the bank to get a business loan. The type of business can be a product or service but must be original. You cannot use an established product or service. Format for paper: 12 Point font, double spaced, clear headings for each topic.
Title Page Company Logo or Picture of Product Title of Company “Strategic Marketing Plan” as paper title Date: Prepared by: Course: Summary Company Leadership – List the people in the business and their titles/job roles Explanation of product or service Company Mission Briefly state the mission of the company and how your product/service aligns to the company’s mission.
SWOT Analysis
Strengths (internal)
Factors that improve your position in the marketplace, including: Things your company does well Resources, assets, and qualities that separate you from your competitors
Weaknesses (internal) reduce your ability to achieve your objectives, including: Things your company lacks or your competitors do better than you Resource limitations
Opportunities (external) Ways your business can grow, including: Areas where you have few competitors New markets to enter Positive media coverage
Threats (external) Factors that could have a negative impact on your business, including: New competitors Changing market Negative media coverage Labor shortages Economic/political developments Market Research Industry Provide details about the industry in your which your organization resides What is the climate? Major happenings in the industry? Include sub industries, if applicable Target audience/buyer persona definition Who are the ideal consumers of your product or service? Consider their demographic and behavioral traits. Competitive analysis Who are your current and potential competitors? Describe their strengths and weaknesses. Identify their key strategies for competing in the market.
Strategic Marketing Goals
Briefly detail your major strategic marketing goals for the year How do these marketing goals align with your company’s overall business objectives? Address the 4 P’s of marketing once you know your goals.
Product – based on your target market, what product/service is meeting your customers needs?
Price – how much will you charge. Address the costs/profit margins.
Promotion – how will you communicate and sell to your customers?
Placement – where will customers choose, buy, and use your product or service?
Budget Departmental budget Outline the total budget for your department or team. How much will it cost to execute each of the tactics you’ve identified? How will you allocate the budget? List ongoing expenses. Estimate the cost of potential new initiatives. Be as accurate as possible to include all stacsurt up expenses as well.
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