Marketing Plan for a fictional company derived involving A mobile tutoring service to combat pandemic learning challenges

Description

This is a 10-15 (but no more than 15) page marketing plan of a mobile tutoring service that has been derived to this point named little league of learners. The marketing plan should include the sections as specifically detailed below: The Team Marketing Marvels is launching Little League of Learners tutoring service Please see attached PPT as well. Outline for Marketing Plan One-Year Strategic Marketing Plan (10-15 pages + Appendices) I. Executive Summary [~1 page or less] An executive summary provides an overview of the key findings from the situation analysis and the marketing strategy recommendations made in the plan. Show how the plan helps to address needs in the consumer or business market and how it will address competitors. Write this last – it is a summary of the plan. II. Company Description [~1/2 page] This is a high level review of the different elements of the company, its target market, core competencies, competitive advantage, and the industry in which it operates. This section also includes the company’s mission, vision, and core values. III. Product or Service Description [~1/2 page] This is brief description of the company’s product and/or service, including summaries of current marketing strategies (including current target markets). In this section you will describe the current state of the business that sets the stage for your marketing plan. Your prototype drawing or service blueprint will be in the Appendix. IV. Situation Analysis [~2.5 pages] This section gives the reader information on the micro-and macro-, internal and external environments relevant to understanding the context for and the rationale behind the marketing plan. It is the vital background that sets the stage for your strategic and tactical proposals. After completing each section of analysis, be sure you are drawing out the marketing implications – don’t just list the facts, give the analysis, and then the strategic implications. Present data for Macro-level external environmental analysis, Forces Driving Industry Competition (Porter’s Five Forces), internal and SWOT analysis in tables, and then use the text of your plan to pull out the strategic implications for marketing. V. Consumer Behavior Research [~2 pages] Use this section to summarize the findings and analysis from your secondary consumer behavior research. Include: -Research methodology and research implications -Key research findings and implications -Consumer needs analysis -Consumer decision making process VI. Critical Issues [~1/2 page] Based on the above analysis, what 3-5 critical issues is your company facing? These are the issues that you will be directly addressing in the marketing plan. This also is an extremely important section, as it provides the direct link between your analysis and your plan. VII. Marketing Goals and Objectives [~1/2 page] In this section list your marketing and financial goals and objectives. These goals and objectives should be specific with respect to magnitude and time. Objectives and goals must be arranged hierarchically, from most to least important; they should be quantitative whenever possible, realistic and consistent. Examples of marketing and financial examples: Marketing objectives may include revenue/sales, awareness, market share, customer satisfaction, or loyalty; and financial objectives such as profit. VIII. Marketing Strategies to Create Value [~2 pages] Each of the following should be describes as specifically as possible, and with strategic justification given in light of the major issues pointed out the previous section. -Segmentation Strategy: Divide the market into meaningful smaller markets or submarkets based on common characteristics. Define the main segments of your market. What characteristics define these segments? What are your segmentation strategies? -Target Marketing: Evaluate the market segments and make decisions about which among them is most worthy of investment for development. Who have you identified as the most appropriate segment (target) for this product/service? Create a profile of a typical target consumer and describe them in specific detail. Why have you chosen this target market over others? Discuss customer lifetime value of your segments and discuss how much marketing expenditure you will spend on acquiring and retaining customers. -Positioning Strategy: How do you want your product to be perceived by your target market? What are the key points of competitive differentiation, highlighting your points of difference and points of parity? Be sure you include an explicit positioning statement here that reflects the key value proposition you are recommending. Why is this a strong positioning strategy? IX. Capturing Value through the Marketing Mix [~ 2.5 pages] -Product/Service Strategies: Define your service/product features and benefits and performance characteristics versus competitive products. How does the product/service fulfill the value proposition? What product/service changes are you recommending? What attributes do you want to add/delete to your product/service? What do you recommend in terms of changes to package design, logos , and/or brand identity? This may include the service promise, including any customer service and warranty information. What new products/services do you want to launch under your current brand name? Provide rationale for your choices. -Branding Strategy: Compare the brand knowledge and brand meanings that you want consumers to know about your brand (your brand identity) with your existing brand image. How will your existing brand enable and constrain you as you address your critical issues? If it is an entrepreneurial venture, how will you build and establish your brand? -Pricing Strategy: Outline your pricing objectives and explain how they relate to your financial and marketing objectives. Estimate your cost of goods sold and calculate total revenue, total costs, and grow profit margin. Explain and justify your pricing strategy (see chapter 11 of the text). -Place Strategy: Define your distribution strategy. What channels will you use to sell your product/service? Why? Provide rationale for your choices. Define your selling approach. What selling message will you use to persuade your channel partners to carry your product. If selling directly, what is your sales message? -Promotion Strategy: Outline your integrated marketing communications (IMC) objectives. Design promotion programs to communicate your marketing message to consumers. Discuss if/how/why you will use the following promotion tactics: advertising (TV, print, radio, outdoor, Internet), consumer sales promotions (displays, price promotions, gift with purchase, sweepstakes/contests), event marketing/sponsorships, public relations, trade shows and conference participation, direct marketing (mail, telephone, email), internet marketing and social media programs and other forms of communication. How will the customer receive information about the product? Be specific about what role each medium will play in the strategy and fulfilling the overall marketing objectives. What is the recommended timing and frequency of the marketing communications plan? How much will you spend on marketing communications? NOTE: The key to effective marketing communication is consistency across all media. X. Implementation Schedule and Financials [~1 page] In this section, describe how you will implement the above strategy, with specific action steps identified. This section also contains key financial information. -Metrics: What is the Return on Marketing Investment (ROMI)? [Chapter 5 in the text]. (Projected) Given your projected level of sales, what will your unit and dollar market share be?; market penetration, margin on sale, Customer Lifetime Value (CLV). -Action plan: discuss timing, decide who should be responsible for the various aspects of implementation, and indicate the recourses necessary to implement the marketing plan. -12 Months sales projections: Use realistic estimates. Some secondary data research should help here. -Marketing budget: forecast the needed expenditures to implement the marketing plan that you build. XI. Controls and Contingency Planning [~1 page] In this section, you describe how you will ensure success, and also describe your contingency plans and caveats. ¬-Monitoring and Control: Here you will describe your marketing dashboard, with any recommended marketing research, and ongoing data gathering, including benchmarks and measures of success. How do you know if you are succeeding or not? When and how do you take measures, and what measures you take? -Anticipated Competitive Response: Here you will outline how you expect your competitors to respond to your marketing plan and how that will affect your execution of the plan. -Risk Analysis and Contingency Planning: What assumptions are you making, and what are the most crucial risks? Provide contingency plans should your monitoring and control measures indicate a problem. The importance of this section should be obvious from the COVID-19 crisis. XII. Conclusion [~1 page] XIII. Appendices These should include charts, tables, and diagrams that support your text. ADDITIONAL INFORMATION Format: Plan is to be double-spaced, 12-size font, with 1 inch margins top/bottom and left/right. Length: 15 pages MAXIMUM, plus cover sheet and appendices. Financials: the normal financial information requirements of a full-scale marketing plan are beyond the scope of this class. However, financial analysis, market size estimates, marketing expenses, and sales forecasts should be included in your analysis. If you are unable to find estimates for the numbers you will need to run your financial analyses, just make well-informed estimates and document your assumptions.

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