BUSN 319 Marketing Plan Student Guide

BUSN 319 Marketing Plan Student Guide - STUDENT GU IDE FOR...

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Unformatted text preview: STUDENT GU IDE FOR WR IT I NG A MARKET ING PLAN 1. Executive Summary The Executive Summary sells the marketing plan to readers through its clarity and brevity. The summary should present a description of the product/service, its target market, and its need within the market. The summary should also provide an overview of the main points of the plan and should emphasize an action orientation. 2. Company Description The company description should highlight the recent history and successes of the organization. 3. Strategic Focus and Plan While not included in all marketing plans, the Strategic Focus and Plan sets the strategic direction for the entire organization. One approach is to use the strategic marketing process (see pp. 44-50 in the text) and/or diversification and synergy analyses (see pages 581-584). a. Mission/Vision The Mission/Vision statement is a qualitative statement that specifies the markets and product lines in which a business will compete. A mission statement can dramatically affect the range of a firms marketing activities by narrowing or broadening the competitive playing field. An effective mission statement must be clear and direct. See page 32 in the text. b. Goals The Goals section of a marketing plan sets both financial and non-financial targets. Goals should be in quantitative terms, where possible, to facilitate measuring the companys future performance. See page 34 in the text. 1 An example of a non-financial goal: Philip Morris will diversify its product lines to achieve 50 percent of sales revenue in non-tobacco products in the next five years. An example of a financial goal (note it is specific and measurable): XYZ Inc. will increase sales from $10 million in 2008 to $15 million in 2012. c. Core Competency and Sustainable Competitive Advantage Competencies are an organizations special capabilities, including skills, technologies, and resources, which distinguish it from other organizations and provide value to its customers. A competitive advantage is an unique strength relative to competitors, often based on quality, time, cost, or innovation....
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This note was uploaded on 06/23/2011 for the course BUS 101 taught by Professor Fryar during the Spring '11 term at DeVry Cincinnati.

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BUSN 319 Marketing Plan Student Guide - STUDENT GU IDE FOR...

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