Marketing

= Marketing =

This term, you are required to submit:

1. Marketing Report
 * Group Report
 * Individual Reflective Journal

2. Marketing Pitch
 * Individual presentation of Marketing Pitch

The powerpoint below is the same used in the first lesson. = =

Report
Before beginning the Marketing Plan, you must undertake market research and analyse the findings of your research.



The criteria for the marketing plan is below:

**Marketing Plan**

This is a crucial section of the business plan. The results reported in this section flow from a SWOT analysis of the business and from market research.

>> Primary and secondary
 * 1) Market Description and Outook
 * Description of product, if not done above in Business Profile
 * Target Market – outlining types of customers (demographic, psychographic, geographic, behavioural)
 * What market research methods were used?
 * Detailed analysis of the market research – market description and outlook
 * Customer profile based on analysis of market research
 * Competition profile

2. “SWOT” Analysis > > ** Pricing ** > > ** Place ** > > ** Promotion **
 * Strengths – new and innovative product, quality processes and procedures, location, marketing expertise, dedicated staff
 * Weaknesses – damaged reputation, any of the above as a negative
 * Opportunities – expansion into international market, new market segment, market vacated by ineffective competitor, merger
 * Threats – new competitor, price war, taxation, competitor with new innovative product
 * Strategies to help take advantages of strengths/opportunities
 * Strategies to help reduce the impacts of weaknesses/threats
 * How will the business enter the market (price skimming, penetration, competition, reductions/deals, mark-up P191 etc)
 * What strategies will be employed to challenge the existing competition and defend against the threat of potential competition
 * Distribution channels (direct or indirect). Justify.
 * How will you get your product to the consumer? What are the advantages of this method?
 * How advertising will focus on the target market (target market, promotion objective, budget, key message, advertising medium)
 * Sales promotion (free samples, contests, competitions, games, prizes, discounts, coupons, displays in shops, sponsorship)
 * Packaging – labelling, attractiveness, how it is designed to persuade target market to purchase
 * Signage

**Reflection Journals** Logs progress, Monitors progress, Sets goals, Manages time, Achieves outcomes, Reflects on strategies to improve