MRK 200   ASSIGNMENT:  Written Marketing Plan Assignment

ASSIGNMENT:  Written Plan Assignment Done by a team 3, 4 or 5 students

Your job is to create a NEW product
(this could be a tangible, physical product, a service, an experience(s) or any combination of these) that will serve as the core of your strategy development.
Your product idea could be a modification of an existing product, or a product that has not been marketed before.
In any event, you must believe that there is an unsatisfied need/want and demand for this product idea in the Canadian marketplace.

Keep in mind that the most successful new products are products that "solve a problem" or products that are actually needed.
Try to have a "marketing orientation", and avoid a "Sales Orientation" or a "Production Orientation"

Information, keep in mind your "Sources of Information"

        supplied by your home government
        supplied by the government of the target region
        supplied by governments other than your's, and the target
        NGO's Non-Governmental Organizations
        Bilateral associations
        Multilateral associations
        Industry Associations
        membership lists.
        webpages of the individual companies
        stock market listings
        annual reports


Before someone does any marketing plan (or business plan) it has to be oriented into the context of the "Goal" of the company - which also means knowing the "Objectives"

In the beginning of your assignment you should write the basic Goal of the business and state what are the Objectives that the business is trying to achieve.
For a review of how to write a Goal and Objectives see

1. Environmental  Influences
In this section, describe the influences of EACH OF the 6 Environments and how these environments "influence" the circumstances of your proposed product.
 o economic
 o technological
 o political/legal & regulatory
 o social-cultural
 o competitive
 o geographic

DO a SWOT Analysis

For the above, you must identify and present information that is relevant to your product idea.

2. Market Segmentation Description

a. Describe how you will segment the market for your intended product.

b. Identify and fully explain the segmentation variables that are the most appropriate for defining your target market segments.
You will want to consider

 c. Identify how you would obtain information on your segmentation variables.

 d. In general terms, identify the different segments in the overall product market.  Then, select the two (2) most attractive segments, and develop Target Market profiles, containing
(i) a detailed description of the segments (see part b above), and
(ii) the customer need(s) to be satisfied (i.e. economic, psychological, benefits sought)
(iii) how the product/service will be used ; how frequently it will be used, and at what  rate (i.e. heavy, moderate or light).

3. Market Segmentation Rationalization

a) Explain your reasons for selecting the above target markets.  What criteria did you use to evaluate the attractiveness of each segment (i.e. segment size, growth rate, profitability, accessibility etc.)?

b)  What targeting approach (or targeting strategy) is most appropriate for your product (i.e. niche/single [one segment with one marketing mix]; combiner/undifferentiated [target two or more segments with one marketing mix;] or multiple/differentiated [serving multiple segments with different marketing mixes]?  Fully explain why this so.

 c) Explain how your targeting strategy reflects your firmís corporate objectives and its resources?

 d) Is your targeting strategy socially responsible?  If so, explain how.

4. Competitive Analysis

a. Identify the current and prospective competitors Ė how many are there; how big are they (in total sales dollars - estimate); what is their relative strength (market share) in the marketplace?
b. Describe the structure of the industry or market e.g. monopoly, oligopoly, monopolistic competition
c.  Identify substitute products and/or processes
d. Identify competitive barriers to overcome.

5. Positioning Strategy

a. Identify possible competitive advantages your product idea may have.
b. Identify the Overall Positioning Strategy
c. Develop a Positioning Statement for your product.

resource - the MRK200 text - p. 243-244 in 8th Edition text
Report Format All written work is to be submitted in hard copy format.

All written assignments must be Word Processed, using a font size of 10 - 12; single spaced, in business report style, with headings, side-headings, etc.  A proper title page, listing, in alphabetical order, all group membersí complete names and student numbers must be attached to all written submissions.

This assignment will be evaluated on your comprehension and application of the concepts, creativity, organization and presentation. All work will be evaluated for its communication ability.  Sloppiness, spelling and grammar errors weaken written work and will contribute to a lower grade. Physical appearance and layout of projects and reports

view my video on YouTube about the proper way to layout written reports

Late Reports Assignments are due at the beginning of class, on the specific dates provided by your Professor.  All late penalties will apply as per the rules and regulations of the School of Marketing and eBusiness

Lateness due to illness or family death is acceptable, with submission of supporting documentation.  Other extenuating circumstances may be considered, and it the studentís responsibility to contact their professor prior to the due date, so an appropriate course of action can be agreed upon.