Select and analyze a marketing challenge faced by a company
Instructions:
Individual Consulting Project Paper
For this individual assignment, each student will select and analyze a marketing challenge faced by his or her company. Each student is responsible for analyzing the situation, conducting all necessary research (both internally and externally), and preparing a written marketing plan.
Individual Consulting Project Contents
Executive Summary
• Summary of plan’s goals and recommendations
• End by clearly stating the problem that will be addressed in the plan.
Current Situation and Trends/Performance Review
• Environmental Analysis. Discuss market situation and macro-environmental situation.
• For existing products, how has this product performed in the past?
• List specific competitors and describe their marketing strategies.
• End this section with 2 or 3 issues that comprise the main/basic questions which must be addressed in the plan.
Key Issues
• SWOT (Strength, Weakness, opportunity, Threat) Analysis on your company. The SWOT should be more than a table listing words or phrases. Ideas should be expounded on for clarity.
Objectives
• List Objectives (about 3 to 5).
• Make the objectives “SMART” (Specific, Measurable, Attainable, Relevant, and Time-bound).
• Consider what you would like the company to accomplish regarding sales revenue, sales growth, market share, consumer awareness, distribution, average price, new customers, repeat customers, customer satisfaction
Marketing Strategy
• Which targeting strategy will you use? Provide justification. (see Chapter 7)
• Which business strategy will you use? Provide justification. (see Chapter 9)
• What is your positioning statement? (see Chapter 8)
Action Plans
• Who is your target market?
• Develop a marketing mix strategy with respect to product, price, promotion, and place to achieve proposed objectives.
Controls
• How will the plan’s progress be monitored?
• How often will you monitor it?
Contingency Plans
• What could happen to “throw a wrench” in your plans?
• What is your “plan B”?
