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Explain why market potential and industry sales measures are important in the selection of a marketing strategy.

Discuss the importance of marketing planning for companies’ success in today’s competitive market environment. Give some examples.

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Bunny Greenfelder
Bunny GreenfelderLv2
28 Sep 2019

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I am so confused as to what i am supposed to do... This is allthe directions the professor gave us but i am confused.

TERM PROJECT: Marketing Plan

The term project consists of developing a marketing plan forestablishing a new boutique gift shop in the ChamplainValley This project enables you to integrate the manydimensions of marketing that make up the marketing plan. You willacquire the planning discipline, understand the role of morespecialized marketing courses (i.e., advertising, consumerbehavior, marketing research, etc.) in marketing planning, anddevelop an applied practical as well as theoretical understandingof marketing.n

Please note that the project is an individualassignment and not a group assignment.

Marketing Plan Part 1: Situation Analysis(Uncontrollable elements)

1.1 Company analysis of objectives and resources

  • Objectives
  • Resources
  • Other marketing strategies and programs
  • Opportunity analysis
  • Ethics and social responsibility
  • Gathering company information

1.2 Customer analysis

  • Learn more about customers and customer behavior
  • Define the Product market
  • Apply this information for segmentation and targeting
  • Gathering customer information

1.3 Competitive market analysis: Competitor matrix

  • What companies are our main competitors
  • What is the marketing strategy for each of these firms (TM +4Ps)
  • What is each firm’s positioning
  • What are each competitors’ strengths and weaknesses
  • How would the competitor react to changes in our marketingstrategy

1.4 External Market environments

  • Economic environment
  • Technological environment
  • Political and legal environment
  • Cultural and social environment

1.5 SWOT analysis (Strengths, Weaknesses, Opportunities andThreats)

1.6 Marketing plan objectives (emerge from companyobjectives)

1.7 Differentiation and Positioning

1.Provide two definitions for the term: Place, and provide an example for each definition that displays its importance.

2.Define the concepts of logistics and JIT. Explain three key advantages of using JIT within a logistics planning process. Discuss any caveats to using JIT.

3.List four of the main modes of transporting goods; also cite two of the benefits and two of the limitations for each.

4.Define Promotion & AIDA. Explain the value of understanding the AIDA model. Cite a personal example that displays the impact of AIDA on you.

5.Explain the "Wheel of Retailing Theory," as discussed in the text. Cite two examples (explain how each relates to the "Wheel") that display the application of this Theory.

6.List, explain, and give examples for five of the main uncontrollable variables that a marketing manager must address in the external environment.

7.List, explain (in detail), and provide examples for each component of the Marketing Mix. Is the customer part of the Marketing Mix?

8.We have discussed whether marketing efforts add cost to a product. Discuss this from various view points and give specific examples.

9.Define Marketing Mix

10.What is the difference between a Brand Name and a Trademark?

One of your goals throughout the New Shoes simulation is to remain competitive so that your

company can be successful in the long term. How would you define competitive advantage?

Why is it important in the athletic industry to differentiate your business from the competition

from a marketing standpoint ? Share 3-5 ways that you will ensure that consumers see you as a

different from your competitors. Provide an example of a firm that has clearly succeeded in

standing out from its competitors. How does this firm’s business strategy help it to be unique in

some way?

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