Outline for Strategic Marketing Plan

Term Project for MKT-705 Strategic Marketing Spring 2012 Semester

Prepared By Nadeem Mustafa Course Instructor

GIFT Business School 30 March 2012

Introduction
The term project for Strategic Marketing Course is to prepare Strategic Marketing Plan for a company/SBU. Students are encouraged to select the organization from local market i.e., Gujranwala Division which includes Gujranwala, Gujrat and Sialkot districts. Its a group project and students will work in teams of up to 3 students each to work on this project. The company/SBU chosen by the group must be approved by the instructor. The formal requirements of this term project are three progress reports, the final plan and group presentation. Students will collect some of the basic data for preparing Strategic Marketing Plan from the concerned organization. The students are also required to use all other possible sources of information for collecting the data which may include government and company reports, company and industry analysis, research reports, suppliers, distributors, and employees, etc. Students are expected to analyze and process this information for making sound strategic decisions and plan. The plan should cover a period of 3-5 years. The plan should be fully integrated and internally consistent. This term project is a major commitment. It provides important career preparation for the graduating students. Business professionals frequently work in cross functional teams to work on important projects and make presentations in organizations. The final term project should be considered such an executive level presentation. Make sure that you prepare a practical document which the concerned organization can use for improving its strategic focus and offer better value to the customers. It is mandatory to invite the CEO/Senior Manager of the concerned organization in the project presentation. Choose your group members carefully, assess your compatibility, and get to work early in the semester. Make working plans which include assigning various members responsibilities; and coordinating logistics, group members traveling, and the impact of the exams/holiday break on your progress. Should you have any concerns, questions or problems regarding your term project, please feel free to seek guidance and advice from the course instructor.

Grading Plan
Sr. No. 1 2 3 Assessment Task Progress Report 1 Progress Report 2 Progress Report 3 Weighting Deadline 5% Week 2 15% 15% Week 5 Week 8 Content Names of group members and selected organization Company & situation analysis Key Strategic Decisions: STP and proposed strategies for achieving strategic goals Complete Strategic Marketing Plan Formal oral presentation in front of faculty and manager of concerned organization

4 5

Final Report Presentation

40% 25%

Week 14 To be announced

* All pieces of assessment should be submitted at the start of first class session. ** Late submissions will not be accepted.

Layout & Content

TITLE
Name of company, date, contact information, etc.

TABLE OF CONTENTS EXECUTIVE SUMMARY

A high-level summary of the marketing plan.

The Challenge Company Analysis Competitor Analysis

The Challenge
Brief description of product to be marketed and associated goals, such as sales figures and strategic goals.

COMPANY & SITUATION ANALYSIS Company/SBU Analysis

Brief History Mission Vision Strategic Goals Focus Culture Strengths & Weaknesses Market share

Customer Analysis

Type (Consumer/Industrial/Institutional) Characteristics of current and potential customers. Their demographic & psychographic characteristics Number Value drivers Buyer Decision Making Process

Concentration of customer base for particular products

Competitor Analysis

Product Market Analysis Industry Analysis Market position Market shares Strengths & Weaknesses of competitors Competitors value proposition Current and potential competition.

Collaborators

Subsidiaries joint ventures Suppliers distributors & retailers Other marketing intermediaries (advertising/research agencies, management consultants, logistics partners, etc.)

Climate Macro-environmental PEST analysis

Demographic environment Political and legal environment Economic environment Social and cultural environment Technological environment

SWOT Analysis
A SWOT analysis of the business environment can be performed by organizing the environmental factors as follows:

The firm's internal attributes can be classed as strengths and weaknesses. The external environment presents opportunities and threats.

STRATEGY FORMULATION Segmentation, Targeting & Positioning

Present a description of the market segmentation as follows:

Segment 1

Description Percent of sales What they want How they use product Support requirements How to reach them Price sensitivity

Segment 2

Description Percent of sales What they want

... Segment N

Market Targeting
Which segments are selected as target market and why?

Alternative Marketing Strategies

List and discuss the alternatives that were considered before arriving at the recommended strategy. Alternatives might include Overall Cost Leadership, Differentiation, Focus, Blue Ocean Strategy, discontinuing a product, re-branding, positioning as a premium or value product, etc.

Marketing Mix Strategies

Discuss why the strategy was selected, then the marketing mix decisions (4 P's) of product, price, place (distribution), and promotion.

Product
The product decisions should consider the product's advantages and how they will be leveraged. Product decisions should include:

Brand name Quality/Value Proposition/ Design & Features Scope of product line Warranty Packaging

Rational for the selected product strategy

Price
Discuss pricing strategy, expected volume, and decisions for the following pricing variables.

Strategy: market penetration, skimming, Loss leader, psychological pricing, etc List price Discounts Bundling Payment terms and financing options Leasing options Rational for the selected pricing strategy

Distribution (Locations)
Decision variables include:

Distribution Strategy (Exclusive, Selective, Extensive Distribution), Distribution channels, (Single or Multi) such as direct/Indirect, retail, distributors & intermediates Criteria for selecting & evaluating distributors Motivating the channel - for example, distributor margins, trainings, competitions, etc. Locations Logistics, including transportation, warehousing, and order fulfillment Rational for the selected distribution strategy

Promotion

Push or Pull strategy Head or Heart strategy Promotion/Communication mix Advertising, including which media, with whom, and how much. Public relations Promotional programs Budget; determine break-even point for any additional spending Projected results of the promotional programs Rational for the selected promotion strategy

Short & Long-Term Projections

The selected strategy's immediate effects, expected long-term results, and any special actions required to achieve them. This section may include forecasts of revenues and expenses as well as the results of a break-even analysis.

Conclusion

Summarize all of the above.

Exhibits
Calculations of market size, commissions, profit margins, break-even analyses, etc.