Description
“Formulating A Strategic Marketing Plan”
Background
Select a company where you can obtain internal and external data as to its products, markets, competitors, customers etc. Preferably it should be a medium scale or a largescale company. Volume of sales should be at least Rs. 24 million per annum.
Assume that you are given a consultancy assignment to write a comprehensive marketing plan for one of their products or category of their products and write a marketing plan in the given format below for a period of one year.
The format is only a guideline and the page length of content stated therein could change as per the merits of the case. However, you may not deviate plus or minus 20% of the page length given. You can make assumptions, but it should be logical.
Your arguments and forecast should be supported by relevant data/information and if possible, it should be included to the appendix.
Executive summary should be written after completing all other parts of the report and it should describe the whole marketing plan in a nutshell. A special practical session will be held during the classes to coach students on how to write an executive summary.
1. Executive Summary
a) Summary of Situation Analysis
b) Summary of Marketing Objectives
c) Summary of Marketing Strategies
2. Situational Analysis (Marketing Audit)
1) The Company
1. The products and services that the company is offering, product life cycle and USP etc
2. Sales (last 05 years)
3. Revenue and revenue growth (last 05 years)
4. Current market share
5. Current distribution systems
6. Pricing methods
7. Promotional activities in last two years
8. Positioning & Branding strategies etc
9. Description of the characteristics of target customers
10. What do they buy?
11. Why do they buy?
12. When do they buy (are there any special situations/movements to buy)?
13. How do they buy?
14. Buying decision process
15. Total sales, revenue & growth (industry)
16. Market Trend/s Opportunities & Threats
2) Competitor Analysis
a) List of Primary competitors
b) List of Secondary competitors
c) Possible new competitors
(Describe following details of top two players in the market or any
other competitor that would pose a threat to you or that you would be
fighting with to enter the market)
e) The products and services that the company/s is/are offering, product life cycle and USP, etc
f) Current market share
g) Current distribution system
h) Pricing methods
i) Promotional activities in last two years
j) Positioning strategies
k) Branding strategies
l) Mind and heart share for the competitor’s products
m) Technological leadership
3. SWOT Analysis
4. Marketing Objectives
5. Marketing Strategies
1. Target Marketing Strategies
2. Positioning Strategies
3. Overall Marketing Strategies (Growth strategies, Overall Competitive
strategies etc)
4. Marketing Mix Strategies (7ps)
6. Marketing Activities & Budgeting
i. Action plans to achieve marketing mix strategies
ii. Sales forecasting
iii.Setting Marketing Budget
7. Monitoring and Evaluation