Prepare a report about one product or service containing information that could be used for a marketing plan.
You can choose a product/service from your own business or from another business with which you are familiar.
In your report you must include information about:
The current marketing situation with background data on the market segments, product, competition, and distribution. Keep this discussion brief.
Market analysis using a SWOT analysis. Make sure to discuss the SWOT analysis adequately.
Objectives with goals for sales volume, market share and profit. These goals should be realistic but may have to be somewhat hypothetical because of the lack of time and absence of market research to provide better ones.
Marketing strategies with details of the 4Ps (i.e. Product, Place, Price, Promotion):
Make sure you explain why the strategies are relevant and how they relate to the market analysis, objectives and goals above. Clearly justify your argument.
In your discussion of Promotion, you need to identify the communication objectives, discuss and justify the communication channels and the communication mix you would use to address these objectives.
Because this is a short assignment, be careful to use your word limit wisely. There is no need to focus on the details of action plans, projected profit and loss figures and controls (although these are important in the real world, of course).
It is important to demonstrate your knowledge about marketing and to clearly reference your sources. Read journal articles (using AIB Online Library), books (including the textbook), and business literature, etc. Note the sources and use them throughout your report.
Note: in a real world marketing plan it is unlikely that you would use referencing. While you might not use referencing in an actual marketing plan, you would definitely source your information from various company/industry reports and from journal articles. In this assignment you are required to make the use of such sources explicit through referencing.
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