Strategic Marketing Plan

The purpose of this project is to set up a strategic marketing plan for a fictitious company.  This includes your company’s mission statement, marketing objectives, marketing opportunities (including identification of your customer’s wants and needs), marketing resources and capabilities (a S.W.O.T. analysis), marketing strategy and marketing mix elements (Price, Product, Distribution, and Promotion). 

                The mission statement is a long-term view of what the organization wants to become. The goals and objectives of the company should be derived from its mission.  When a company decides on its mission, it really answers two questions: What is our business? and What should our business be?  A mission statement gives the company a clear purpose and direction, and keeps it on track.  It describes the unique aim of the company that helps differentiate it from similar competition.  It keeps the company focused on the customer needs rather than its own abilities, ensuring an external focus rather than an internal focus.

                Marketing objectives are the broad statements of the company’s goals and objectives to be achieved through the marketing effort.  These goals and objectives should be developed to carry out the company’s mission.

                The marketing opportunities are to be identified through environmental scanning.  It’s an identification of the target market and their wants and needs.  It’s also identifying the right combination of circumstances at the right time, allowing a firm to take action to reach a target market.

                A firm’s capabilities and resources relate to distinctive competencies that it has developed to do something well and efficiently.  Matching distinctive competencies to the opportunities in the market creates a competitive advantage for the firm.  Identifying and pursuing your competitive advantages efficiently and effectively is a key success factor for any firm.

                How your firm plans to pursue its competitive advantages is your marketing strategy.  It requires a complete and comprehensive marketing mix. The four major elements of a marketing mix are: product, pricing, distribution and promotion.  Each element has a strategy.  For example, pricing is more than setting a price.  It should be a strategy of how price is set and how it is changed in reaction to the market. You are to give specific examples of each portion of your marketing mix.

                Remember to write this 15-page project as if you are the marketing department and developing this strategic marketing plan for the corporate office. 

The same disclaimer as on the consumer survey applies - this is a “student” project and it makes no claim as to its accuracy and makes no recommendations to the organizations marketing strategy. The grade will be adjusted by peer evaluation