Create a marketing plan for a new business launching a new product

Description

Create a marketing plan for a new business launching a new product and/or service into the Canadian market. This is a research-based project and your goal is to convince your investors and/or CEO that this is a viable project. The plan must apply the concepts covered in the course. The Term Project may not be submitted as an individual project. You will work in a team of 5 students.

OBJECTIVES:
Create a marketing plan for a new business launching a new product and/or service
into the Canadian market. This is a research-based project and your goal is to
convince your investors and/or CEO that this is a viable project. The plan must
apply the concepts covered in the course. The Term Project may not be
submitted as an individual project. You will work in a team of 5 students.
Your 6 Deliverables:
1) Team Formation (due May 20)
2) Group Contract and Topic Selection (1%, due May 31 on Brightspace)
3) Marketing Plan Part I Written Report (5%, due Jun 21 on Brightspace):
• Title page, Corporate Description, Current Marketing Situation,
SWOT Analysis, Objectives, Appendix, Endnotes, and
Professionalism
4) Marketing Plan Part II Written Report (5%, due Jul 19 on Brightspace):
• Title Page, Target Market and Marketing Mix 4Ps (Product,
Pricing, Distribution, and Promotion), Appendix, Endnotes, and
Professionalism
5) Marketing Plan Part III – Entire Plan Written Report (6%, due Aug 02 or
on the date of your live presentation on Brightspace):
• Title Page, Executive Summary, Table of Content, Updated Part
I and II, Implementation Plan, Projections, Control, Conclusion,
Appendix, Endnotes, and Professionalism. Please follow the
sequence listed under Marketing Plan Structure.
Note: Written report in Chicago Manual of Style. Submit digital Word
Document file on Brightspace. Use single spaced, Arial or Calibri, 12
font size with sufficient headers and unlimited appendices to support
the PowerPoint slides and your presentation.
6) Formal Team Presentation and PowerPoint file (3%) – prepare a
presentation of 15 minutes in duration on your firm’s marketing plan, based
on your independent research and analysis and your entire marketing
plan. Format: Pre-recorded narrated powerpoint file.
2
7) Your PowerPoint file must be submitted no later than Aug 02 for pre-recorded
presentation. EACH SECTION OF THE PRESENTATION MUST BE CLEARLY
IDENTIFIED.
PLEASE NOTE, THE FOCUS OF THIS PROJECT IS TO APPLY TEXTBOOK
KNOWLEDGE, CREATE YOUR RECOMMENDATIONS, AND CONVINCE YOUR
POTENTIAL INVESTORS OR MANAGERS TO BUY-IN TO THIS PRODUCT WITH
SUFFICIENT RESEARCH.
Marketing Plan Example: please refer to Marketing Plan Outline in your eText
(Chapter 2 and Appendix 2).
MARKETING PLAN STRUCTURE: Written Report Part I (30 MARKS), Part II
(40 MARKS), and PART III (30 MARKS) WITH TOTAL 100 MARKS.
Please follow the below format for your written report and the page lengths
listed. Sections may vary depending on the type of business selected and
please use Chicago Manual of Style. This is a research-based report. As
such, you must support your decisions.
Marks Item Description
2 Title Page (Part I, II, and III; 2
marks for Part III)
Include project name, group member
names, school name, department name,
course name and number, instructor name,
date submitted. (1 page)
2 Executive Summary (Part III) This should be written last. It is a brief
summary of what you have written in your
report and should be no more than a page
in length. (1 page)
2 Table of Contents (Part I, II,
and III; 2 Marks for Part III)
Please outline major sections and
subsections. Please ensure page numbers
are correct. Please list appendices
separately. (1 page)
5 Corporate Description (Part I) Brief introduction and description of your
company including your mission statement,
company structure, and brief product
description. (0.5 – 1 page)
5 Current Marketing Situation
(Part I)
This is a section to “set the scene” for the
market and industry at the present time.
Please write a brief summary of the market
situation with substantiation. Identify and
review of at least 2 direct competitors.
Explain why they are your competitors. (1
page)
3
Marks Item Description
10 SWOT Analysis (Part I) Strengths & Weaknesses: what are the
key strengths and weaknesses of your newly
formed organization? Aspects to consider
include: human resources, finance,
operations, and marketing.
Opportunities & Threats: what are the
key trends / issues in the external
environment? Identify and discuss:
regulatory, economic, social, technological,
demographic and competitive factors.
Identify and assess major threats and
opportunities that the product/company
may face with substantiation. (2 pages)
5 Objectives (Part I) What are your organization’s specific
targets/milestones? Includes, but not
limited to: launch date, market share, unit
sales, projected revenue, projected profit,
number of locations and number of
employees. What did you use to base those
figures on? (0.5 – 1 page)
10 Target Market (Part II) Who is your typical customer? How many
potential customers do you have? What is
the estimated dollar value of the market
segment? Supporting data? (1.5 to 2 pages)
Notes:
Specifically describe how you went about
segmenting the market and which segment
you have chosen to target and why. Please
include the challenges you foresee in
targeting this group. You need to
substantiate your reasonings.
5 Product/Service Strategy (Part
II)
What is your product or service? What
makes your product better or different?
What is your USP, unique selling
proposition? How is your product decision
related to your target segment? Research?
What is your positioning? Please include a
Positioning Map (1 page).
5 Pricing Strategy (Part II) Discuss your pricing objectives and the
methods and strategies your company will
pursue. What is your unit price? What did
your pricing strategy base on and why? How
is your decision related to your target
segment? Any research? (1 page)
4
Marks Item Description
10 Promotion/IMC Strategy (Part
II)
What is your key message to market? What
element(s) of the promotional mix are you
using? (Advertising, Public Relations, Sales
Promotion, Personal Selling, Direct
Marketing ) Budget? Timeline? Are they
related to your target segments?
Research? Please provide specific real-life
examples. For example: The company has
chosen to use Instagram for …. with
supporting data (1.5 to 2 pages).
Note:
Describe the objectives of your
communications strategy and illustrate how
each element will be integrated with
consistent messaging. What is your chosen
mix and why? How is your decision
related to your target market?
5 Distribution Strategy (Part II) What is (are) your key channel(s) to
market? (0.5 to 1 page)
Note:
Discuss your distribution strategy. Be sure
to be detailed in describing the channel and
what your company’s position in the channel
is. How is your decision related to your
target segment? Supporting data?
5 Implementation Plan (Part III) What specific actions are required by your
team in the next 12 months? What will be
done? When will it be done? Who will do it?
(0.5 page)
Note: use GANTT chart
5 Projections (Part III) Using a simple spreadsheet model, what are
your projections for the next 5 years?
Include estimates (and underlying
assumptions) for: unit sales, revenues,
costs and profit. What did you base on?
(0.5 – 1 page)
3 Control (Part III) How will your organization measure and
monitor progress? (0.5 page)
4 Conclusions (Part III) Tie your report together with concluding
remarks no more than 1 page in length.
(0.5 – 1 page)
5
Marks Item Description
3 Appendices (Part I, II, and III;
1 mark each)
Some of your charts or tables could be
included in this section. Be sure to refer to
your appendices in the main body of your
report.
4 End Notes (Part I, II, and III; 1
mark, 1 mark, and 2 marks)
Please follow the Chicago Style for your
referencing. See Langara Library Website
for details. Minimum 10 different,
current(less than 3 years old), and
reliable resources.
10 Professionalism (Part I, II, and
III; 3 marks, 3 marks, 4 marks
each)
Report has a professional appearance,
effectively uses conventions of language and
numerical accuracy. Correct use of spelling,
punctuation, and sentence structure.
Information flows logically and excellent use
of transitions and consolidations. The report
must be clearly, concisely, and logically
written and contain a variety of references.
Use the Chicago Style of citation, and
please use the endnote format.
Total: 100 marks
Powerpoint Slides Presentation (3% OR Total: 50 MARKS – PPT
Slides and Performance)
Title: Names, course, college, date, project title
Agenda
Company and Product Introduction
Current marketing situation
Provide a high level overview of the market, identification and review of at least 2
direct competitors. (1 to 2 slides)
SWOT analysis
Strengths & Weaknesses: what are the key strengths and weaknesses of your
newly formed organization? Aspects to consider include: human resources, finance,
operations, and marketing. (1 to 2 slides)
Opportunities & Threats: what are the key trends / issues in the external
environment? Identify and discuss: regulatory, economic, social, technological,
demographic and competitive factors. Identify and assess major threats and
opportunities that the product/company may face. (1 to 2 slides)
6
Objectives
What are your organization’s specific targets/milestones? Includes, but not limited
to: launch date, market share, unit sales, projected revenue, projected profit,
number of locations and number of employees. What did you use to base those
figures on? (1 slide)
Marketing strategy
Outline your organization’s marketing strategy:
Target Market Strategy – Who is your typical customer? How many potential
customers do you have? Which ethnic groups and why? What is the estimated
dollar value of the market segment? (1 to 2 slides)
Product / Service Strategy – What is your product or service? What makes
your product better or different? (1 to 2 slides).
Price Strategy – What are your pricing objectives? What is your unit price? (1
to 2 slides)
Promotion Strategy – What is your key message to market? What element(s)
of the promotional mix are you using? (Advertising, Public Relations, Sales
Promotion, Personal Selling, Direct Marketing ) Budget? Timeline? (1 to 2 slides)
Distribution (Place) Strategy – What is (are) your key channel(s) to market?
(1 to 2 slides)
Implementation Plan – What specific actions are required by your team in the next
12 months? What will be done? When will it be done? Who will do it? (1 slide)
Projections – Using a simple spreadsheet model, what are your projections for the
next 5 years? Include estimates (and underlying assumptions) for: unit sales,
revenues, costs and profit. What did you use to base the projection on? (1 to 2
slides)
Controls – How will your organization measure and monitor progress? (1 slide)
This is a group assignment. Evidence of plagiarism will result in a mark of zero for
this assignment. Please limit your presentation to approximately 20
PowerPoint slides and no more than 15 minutes.
Presentation Assessment
Term project presentation will be assessed based on completeness, clarity,
originality, creativity, and professionalism. Marks for your Term Project will be
allocated as outlined below.
PRESENTATION PPT Slides (50 MARKS)
Key elements are included and addressed in appropriate detail:
– Title
– Agenda
– Company and Product Introduction
7
– Current situation
– SWOT
o Strengths and weaknesses analysis
o Threats and opportunities analysis
– Objectives
– Marketing strategy (Target Segments, 4Ps)
– Implementation plan
– Projections
– Controls
Use the ‘notes’ feature of PowerPoint to provide notes on each slide. This
will provide the instructor with the needed information to accurately grade the
assignment.
Your presentation will involve each team member and will be 15 minutes in length.
Every member of the group must be present and actively participate in the
presentation in order to receive a mark on the term project.
Attendance is mandatory for all students for each group presentation.
Individual grades may be adjusted at the discretion of the instructor in the
event of student absence during presentations. In general, students will
receive 0% for the presentation portion of the term projects if absence
during the presentation.