Create a fictional startup company that serves the us market
MARKETING PLAN
The marketing plan is a tool used to develop and present a company’s marketing strategy. At minimum, the plan should contain descriptive information on the company, its products or services, target customer, marketing research, advertisement, promotions, and a list of actions items that is supported with a strategy plan for execution.
Directions: Create a fictional start-up company that serves the U.S. market with a product or service.
Section 1: Executive Summary
Provide a detailed description of your company. The description should include, at a minimum, the company’s name, its history, founders, business purpose, and mission. This could be written using multiple sentences, but no longer than a single paragraph.
SECTION 2: TARGETING CUSTOMERS
Consider who your customers are and identify your market segment. Analyze the business customers / clients you wish to target. Your analysis should include, but not be limited to, their demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile (e.g., interests, routine, habits, etc.), profession (e.g., income, occupation, education), geographic location (e.g., country, region, city, rural, urban, climate) and their precise wants and needs as they relate to the products and / or services you offer.
SECTION 3: UNIQUE SELLING PROPOSITION
Consider what distinguishes your company from competitors, their products and / or the price of their products and services.
UNIQUE SELLING PROPOSITION (USP)
Describe your unique selling proposition (USP). Next, explain the key aspects of your business, products, or services that make them unique when compared to your competition. (e.g., Southwest Airlines’ USP is providing customers with low airfare without compromising service and comfort.)
MARKETING OBJECTIVES
Describe the marketing objectives of your company. Your marketing objectives should, at a minimum, address potential customer profile and market segmentation. Explain the manner in which you conducted your secondary market research.
SECTION 4: PRICING AND DISTRIBUTION STRATEGY
You will now consider your company’s strengths and weakness, along with your product or service price.
STRENGTHS, WEAKNESSES, OPPORTUNTIES AND THREATS (SWOT)
Determine the key strengths and weaknesses of your company, as well as the opportunities and threats it faces within its industry.
The SWOT Analysis is a very useful technique for in business.
SUPPLY-CHAIN AND OPERATIONAL SYSTEM
Discuss your critical steps within your supply-chain and operational system. Explain the key aspects of your strategies for producing and distributing your products and services to both your stores and customers. Determine whether you will use an outside vendor or do everything in-house.
PRICING STRATEGY
Analyze the company’s pricing strategy relative to its pricing objective. Examine major internal and major external factors that could potentially affect the pricing of the company’s products or services.
SECTION 5: DISTRIBUTION PLAN AND PROMOTIONS STRATEGY
You will consider mechanisms by which your customers will purchase your products and / or services (e.g., online, storefront, direct sells) and the primary manner in which you intend to reach new customers (e.g., TV, radio, social media, special events).
Consider the marketing materials that you intend to use. According to the textbook, marketing materials are collateral used to promote your business or products. Promotional strategy may include free trial offers, money-back guarantees, and buy two (2) for the price of one (1) type of deals.
DISTRIBUTION STRATEGY
Determine the distribution strategy in terms of your target market, location, and selection of distribution channels. Indicate whether or not you will leverage the following strategies: use stores located in different regions, sell online, and / or hire a sales team to sell directly to suppliers and door to door. Recommend three (3) strategy options to get your product or services out to your customer base.
1. Insert strategy option to get your product or services out to your customer base
2. Insert strategy option to get your product or services out to your customer base
3. Insert strategy option to get your product or services out to your customer base
MARKETING GOALS
Outline your main marketing goals for promotions, offers, and giveaways. Discuss the key types of marketing materials that you intend to develop and share.
