First Name______________ Last Name______________
You are expected to pick a company and use this template as a basis for preparing your marketing plan.
Provide a brief statement that answers the following questions:
Your mission statement should affirm your philosophy and direction. It should focus on the solution.
Example mission statement – “We provide high quality, affordable and accessible after school care to children aged five to eleven, in a safe and supportive environment, and work in partnership with parents in the provision of this childcare.”
What are your future objectives for your business, make sure these are SMART (Specific, Measurable, Achievable, Realistic and Time-bound). For example, Robinhood Investments want to increase the existing sales by 5% in the next quarter through volume sales of 150000 investment products. Consider the target market in your objectives.
What factors or changing trends within the external environment have the ability to impact upon your business? Use the following sub headings to analyse key contributing factors?
Social (eg. changes to the work life balance, falling birth-rate, culture and lifestyle changes)
Legal (eg. Laws and regulations)
Economic (eg. increase to minimum wage, tax credits, recession)
Political (eg. Trade policy changes, government’s viewpoint towards an industry, etc.)
Technological (eg. security, internet banking)
When you operate a business, you have to understand your competition.
Analysing your businesses strengths and weaknesses are pivotal to setting your marketing objectives and identifying your unique selling points and key issues.
TIP: it is very difficult to assess your own business objectively, so get someone else that is close to you to help you!
To analyse your businesses opportunities and threats consider the implications that the external influences and competitive issues that you identified in the preceding sections (3 and 4) will have on your business. Try to consider ways of minimising your threats and/acting on your opportunities.
Provide a brief statement that answers the following questions to analyse your customers:
Provide a brief description of where you want to be, use your S.W.O.T analysis and target market section to help you chose the market segments in which you will compete, also make sure you are mindful of external influences.
How would you plan your marketing mix strategy to reach the specific objectives?
Product (What services do you offer, what are your core customer value, actual product and augmented product levels, who are your competitors, what is your market position)
Place (where do you operate from, where are you located, how does this compare to your competitors)
Price (What is your pricing policy, do you offer discounts, how do your prices compare to your competitors)
Promotion (What types of promotional techniques do you currently employ)
Hi there! Click one of our representatives below and we will get back to you as soon as possible.