A situational analysis presents a snapshot of the market in its current state by describing the company’s products/services, target segments, distribution networks, and position of the products/services in the segment, along with competing offerings and relative positioning. It includes current and future assessment of the business conditions and challenges. Within your situational analysis, analyze all the following points:
· Market summary
· SWOT analysis
· Competitor analysis
· Product offering
· Keys to success
· Critical issues
· Pricing
Marketing Strategy
The marketing strategy describes the planned direction and goals of the marketing activities, incorporating facts and assumptions about the market size, growth, and financial objectives. Think about the following questions: Where do you see your business going in the next 3-5 years? What is unique about your product portfolio? How will you tell the consumer about your products and unique value proposition? How will you stay connected to your target market’s needs and wants? How will you price your product? Within your market analysis, be sure to address the following:
· Mission
· Marketing objectives
· Product positioning
· Marketing mix (4 Ps)
· Marketing research
Financials
The financials of the marketing plan describe a set of five-year revenue, cost, and profit projections for the marketing plan, including any initial startup costs, sales by channel and segment, and profit margins. Think about the following questions: How much do you plan to sell? What are your factory cost targets? What is your profit target by percent and dollar amount? Remember to include the following in your financials:
· Sales Forecast
· Profit targets
Controls
The controls of the marketing plan describe the budget tactical activities for implementing the plan, as well performance benchmarks for each activity. These include pricing, product configuration, promotion, and distribution performance benchmarks, and plans for changing any of the parameters if performance measures are not met. They are in place to measure forecast and profit attainment. Forecasts should be reviewed monthly and quarterly. Secondly, a 12-month calendar should be developed to clearly target specific dates for product introductions and promotional activity.
Remember to include the following:
· Milestones
· Implementations and timelines
Summary
The summary of the marketing plan should summarize the plan by summarizing the size and scope of the opportunity, and reiterating the STP (segmentation, targeting, positioning) and 4 P (product, price, place, promotion) elements of the plan. It should tell the reader that the plan is real, how you will win, and why it is worth pursuing as an organization (RRW). This section should be no longer than one page.
Remember to review the grading criteria as you write the plan to ensure you address all needed elements.
Use the grading criteria to guide your report. Make sure you include details within your analysis to support your ideas. Use proper grammar, spelling, and APA style throughout. For more information on modeling the buying process, refer to your textbook.
Write an 10 page report in Word format. Apply APA standards to citation of sources. Use the following file naming convention: By December 1, 2015, deliver your assignment to the M5: Assignment 1 Dropbox.
Grading Rubric
Attachments:
application/vnd.openxmlformats-officedocument.wordprocessingml.document iconmmm.docx
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