What is the
Marketing Plan about?
You will be
creating a new product and an associated plan for how it will be launched. The plan will include a detailed description
of the product and the rest of its marketing mix (the price, how it will be
promoted, and how it will be distributed to the customer). Before you can plan all the details about
your marketing mix, you will need to do some research. You will need to learn about such things as
your competition, what your customers want, and what the trends are that would
affect your business. This research is
done first (Part 1 of the Plan), then you can create the details of your
product and the rest of the marketing mix.
How do we get
You begin your
plan by deciding what kind of business you will be in. You might decide to be an existing firm that
will be creating a new product to add to your current list of products. You might decide to be a brand new firm that
will have the new product as your only product (though you must decide at the
beginning what type of product you will create). Here are some examples of products that
students have successfully created in their marketing plans:
Computer training for Seniors
(as a brand new firm)
Healthy dried fruit snack (as
Student e-reader with textbooks
already pre-loaded (as a brand new firm)
More information is found at the end of
this overview under the title: Picking
your company and product
What do we
On the due
dates, you will submit each part of the Marketing Plan submit a copy to your
professor. About Part
1 of the Plan
This part of the
plan will mostly consist of research.
You will be looking for good information (that means not from Wikipedia
or any social media like facebook) to complete the parts of the table that
follows this Overview. You must provide
the source for every piece of information that you include. We will use MLA format for citing the
for the report
The format of
the report can be done 2 ways. You can
simply use the table below and “fill in the blanks”. As an alternative, you may create your own
report BUT the titles must be exactly the same as the ones used in the table
below, and in the same order. Some subsections
of the report will only need a paragraph or 2 to complete the information,
while others may need several pages to cover the topic appropriately. Try to avoid quoting your source
word-for-word (avoid “cut and paste”).
You should summarize what you have learned in your own words. Of course this still means that you include
the source of the information in MLA format.
More about Picking your company and
You may select an existing firm (eg. Sony),
or you can be a brand new firm in an existing industry (eg. a new firm
competing against Sony/Microsoft/Nintendo etc.
in electronic games). You do not
need to select your specific product immediately, but you do need to pick a
direction for your research to proceed. If
you decide to be a brand new firm, then you are the firm’s employees, and your
skills and resources of the firm are your
skills and resources.
an excellent report was done by a team that was a brand new firm competing in
the e-readers industry (like a Kindle, or Kobo, or Nook). By knowing which type of product (e-readers)
they would work with, their research scope was easy for them to
understand. The details of exactly what
functions the e-reader might have was not finalized until they had completed
their review of the competitors’ products, and their market research surveys
asking potential customers what they wanted.