Mini-Marketing Plan Report

First Name______________        Last Name______________

 

You are expected to pick a company and use this template as a basis for preparing your marketing plan.

 

  1. Introduction

Provide a brief statement that answers the following questions:

  • Details about the company including the essence of your business (what do you offer)?
  • What is the overall aim of your business?
  • How do you set out to achieve this aim?
  • Are there any major factors that may affect your business?

 

 

  • Mission Statement

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.”

 

  1. Objectives

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.

 

 

 

 

 

  1. External Environment Analysis

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)

  1. Analysis of Current and Potential Competitors

When you operate a business, you have to understand your competition.

  • Who are your direct competitors?
  • Who are your indirect competitors?
  • What is your competitive advantage with respect to competition?

 

 

 

 

 

 

 

 

 

 

  1. W.O.T Analysis

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!

 

Strengths

 

Weaknesses

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.

 

Opportunities

Threats

 

 

 

 

 

 

 

 

 

 

 

  1. Target Markets

Provide a brief statement that answers the following questions to analyse your customers:

  • Who are your customers? Define in terms of the segmentation variables we discussed.
  • Is there currently a market niche which is not being catered for?
  • Can you offer them something new which really meets their needs? Why are they likely to buy your offering?
  • Will you generate enough business in your target market to survive?
  • Can you communicate to this market effectively?

 

 

 

  1. Positioning statement

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.

 

 

 

 

 

 

 

 

  1. Marketing Mix Strategy

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)

 

 
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