MKTG 460 Home Page

I do not grade your projects based on length, but on quality. However, under no circumstances should your final project exceed 50 pages, including references, charts, graphs, illustrations, and appendices. I am more impressed with plans that are short and concise, yet contain all of the relevant information.

Your report should be both thorough and aesthetically pleasing. Remember, you will be submitting a copy to your client and retaining a copy for your marketing portfolio. You should produce a product that you would be proud to share with a prospective employer.

The following project information is adapted from The Marketing Plan by William A. Cohen. There is a copy in the Carrier Library (call number HF5415.13 .C6348 1995). I have also put my copies of this book on reserve in the Carrier Library. If you have additional questions, you may want to refer to this excellent source.

Each of your projects should contain all of the following.

Table of Contents. At the beginning of each plan, have a detailed table of contents.

Executive Summary. This is an overview of the entire plan. It should summarize each of the main parts of the marketing plan, including a description of the product, its differential advantage, the required investment, anticipated sales and profits, etc. Remember, this is a summary. As such, it should only be a few pages (2-4) long.

Introduction. What is the product? Describe in detail how it fits into your country market.

Environmental or Situational Analysis. Several factors should be considered here, including:

• Demand and demand trends. What is the likely demand for your product? Is demand increasing or decreasing? Who makes the buying decision? How, when, what, and why do they buy?
• Social and Cultural Factors. What factors in the socio-cultural environment will affect your product?
• Demographics. What are the demographics of your target market?
• Economic Factors. What are the economic and business conditions like in your country for the product? Is the economy growing or declining? What is unemployment like?
• Technological Factors. What is the state of technology for this product? Is it state of the art? Are newer products succeeding older ones? What is the life cycle for the product?
• Politics/Government. What is the political environment like in your country? Are politics in any way affecting your ability to market your product? Is any pending legislation going to affect your ability to market in your country?
• Legal Environment. Are there any laws and regulations about which you should be aware?
• Resources of the Firm. How does the availability (or lack thereof) of funds affect your situation?
• Media Factors. What's happening in the media? Are you likely to receive any positive or negative publicity by entering the country?
• Stakeholders. Are there any influential groups who might be helped, hurt, or threatened by your entry into the market?
• Competitive Environment. Who are your main competitors?
• Describe their products, plans, experience, know-how, financial resources, human resources, channels of distribution, promotional strategy, pricing structure, and product strategy.
• Do they enjoy favor with their customers? If so, why?
• What are their strengths and weaknessesw?
• Company Strengths. Describe your products, experiences, know-how, financial and human resources, etc.
• Do you enjoy the favor of the local market? If so, why?
• What are your strengths and weaknesses?

Target Market. Describe your target market segment or segments in detail. Use demographics, psychographics, geography, usage, benefit, or whatever segmentation base is appropriate. Why is this your target market? How large is it?

Problems and Opportunities. What are your problems and opportunities?

• State or restate each opportunity and indicate why it is, in fact, an opportunity
• State or restate every problem. What do you intend to do about these problems?
• Clearly state your competitive differential advantage.

Marketing Objectives and Goals.

• State precisely the marketing objectives and goals in terms of sales volume, market share, ROI, country roll out, or other objectives or goals for your marketing plan and the time needed to achieve each one of them.
• Consider alternatives for the overall strategy, e.g., for new market penetration a marketer can enter first, early or late; penetrate vertically or horizontally; use a strategic alliance, licencing, or direct investment strategy; or select and exploit various niche strategies.
• You might consider developing a market attractiveness/business capability matrix and conducting a life cycle analysis

Marketing Tactics. State how you will implement the marketing strategy(ies) chosen in terms of the product, price, promotion, and distribution of the product. Things to consider:

• Product. What product adaptations will be required for your country? How do specific market preferences, legal requirements, cultural tastes, etc., demand that your products be changed?
• Distribution. What distribution channels will you use? Is there an adequate distribution infrastructure in your country? What will be the port of entry? What transporation options are available?
• Price. What effect will import duties, shipping costs and insurance, excise and ad velorum taxes, bribery or grease payments, etc., have on price? Will price escalation price your product above your market? What can you do to reduce escalating prices when exporting abroad? Is parallel distribution a problem (e.g., obtaining your product from a different channel at a cheaper price)?
• Promotion. To whom will you direct your promotion efforts? To channel members? Final consumers? What are legal requirements about promotions? What is legal and illegal to say in the context of a promotional claim? Will you need a sales organization?
• Competition. What will your competition do in reaction to your marketing tactics? How are they likely to respond?

If you are targeting more than one segment, you may need to develop a separate set or marketing tactics (a marketing mix) for each segment.

Implementation and Control. Calculate your breakeven point. Compute sales projections and cash flows an a monthly basis for a three-year period. Determine start-up costs and a monthly budget, along with the required tasks. What human resources will be necessary to successfully open up a new country market?

Summary. Summarize all of your advantages, costs, and profits. Restate the differential advantage that your plan offers over the competition and why the plan will succeed. If your recommendation is to not enter the country market, use this section to summarize your reasons for not selecting the market.

Appendices. Include all supporting information that you consider relevant.

Return to the TOP of this page.