Colorado Technical University Marketing Plan Paper

Colorado Technical University Marketing Plan Paper

Michelle has told you that the board is now ready to see the final presentation of your plan for MM’s new product.

"They are very eager to see what we have been working on during the past few weeks," she says excitedly. "I am sure they will love the plan and am looking forward to your presentation.""Thanks," you respond, feeling a few butterflies in your stomach. "I am looking forward to the presentation also. I think we have covered all of the bases and I am sure we have a solid plan. I have jotted down the order of items to cover that I think will be best for the presentation. What do you think?"

1. Objectives of plan
2. Marketing research used to select target market
3. Product
4. Pricing
5. Distribution
6. Promotional Strategies
7. Measuring results
8. Contingency Plan

"This looks like a solid format for the presentation. Let me know if you have any questions and I will be happy to help," Michelle says exiting your office.

You close the door of your office so you can fully concentrate on preparing your presentation. You have a lot of material to cover, but you have been working on this plan for weeks. Now it's just a matter of formulating a cohesive strategy and anticipating any questions that may arise during the presentation.

• What might somebody else say to show your proposed solution is wrong?
• What could you say to show s/he is wrong?
• What alternative solution might someone else recommend?
• What reasons might someone provide to support their solution?
• How would you respond to their reasons?
• Is there a compromise or creative solution?

Create and submit a 12 slide PowerPoint (more is better) with 150 words of speaker notes per slide (more is better) that follows the order below of items to cover that I think will be best for the presentation:

1. Title Slide
2. Marketing goals
3. Environmental SWOT Analysis
4. Marketing research types/methods
5. Market Segmentation/targeting
6. Product branding
7. Pricing
8. Distribution (place)
9. Promotional Strategies
10. Measuring results
11. Contingency Plan
12. References slide

In formulating a cohesive strategy and anticipating any questions that may arise during the presentation:

1. What might somebody else say to show your proposed solution is wrong?
2. What could you say to show s/he is wrong?
3. What alternative solution might someone else recommend?
4. What reasons might someone provide to support their solution?
5. How would you respond to their reasons?
6. Is there a compromise or creative solution?

Using IMC in the Marketing Plan The final marketing plan includes not only strategies but tactical methods of communicating with customers for a specific product. The following is an example of building brand awareness with a holistic marketing plan. Joanna, the director of marketing of a large grocery brokerage company, recently met with a leading trade publication’s sales rep, Charlie, an IMC expert. This is an excerpt of the actual meeting. Joanna’s goal is to build brand awareness using IMC with a holistic marketing plan. Background of Situation and Business Scenario Quick Stats The company is 20 years old and a medium-sized company that grew from a small shop to what it is today with 1,000 clients. The business has become somewhat saturated, meeting the maturity phase of the product life cycle (PLC). A new generation of decision makers has changed the customer demographics, moving from Baby Boomers to Gen Xers making purchasing decisions. Although the company has been around for a few decades, it has no brand awareness, so the new customer demographics are unaware of its products and services. Flattening sales because of a sluggish economy and product saturation is stressing the board of directors, who see no new customers or expanded market reach in the coming years. Business problem: No brand awareness in the marketplace or market space No marketing campaigns in place The following is an excerpt from the interview between Joanna and Charlie: Joanna, the marketing director: Hello Charlie. Thanks for joining us today. Charlie, the sales rep/IMC expert: It’s my pleasure Joanna. How can I help you develop a solid program using integrated marketing communications (or IMC) to start building brand awareness?

Joanna: I’d like to consider a marketing plan that uses a combination of traditional and modern media initiatives. Charlie: Okay, let’s get started. I have some suggestions about how you can target your various demographic groups using an advertising hybrid of social media, print, and broadcast advertising to communicate your message to the market. This is part of an IMC campaign. Joanna: What is IMC? Charlie: IMC uses data collection to help you develop an advertising campaign with the most effective communication methods available to generate sales leads and drive traffic to your company Web site. Joanna: Tell me more. Charlie: Joanna, by integrating your marketing communication elements, which work together to cross-sell your brands through various communication channels, you develop a comprehensive marketing plan that reaches all of your targeted customers with the right messages that appeal to them and persuade them to buy your company’s services. Joanna: Give me an example, please. Charlie: Well, maybe you do a month of banner advertising on partnership Web sites, combined with 12 full-page color ads in your top three traded magazines. Also, we’ll create a social network fan page for your customers who use social media. Joanna: Interesting. I’d love to see a plan. Charlie: You’ll have a customized plan based on your customer segmentation in one day.