Making a market plan.
The Topic:<\/p>\n
Knowing that you are studying for an MBA, your friend has asked you to advise her about writing a marketing plan for a new book shop she wishes to open in London.
She is keen that you specially consider:
\u2013 The marketing environment is which the attraction will operate
\u2013 A clear strategy for the segmentation, targeting and positioning strategy
\u2013 An operational marketing plan.<\/p>\n
You should therefore prepare the marketing plan which should be divided into 3 sections:
\u2013 1: Guidelines regarding the analysis of the marketing environment
\u2013 2: A strategic and tactical marketing plan
\u2013 3: Future growth options for the attraction (assuming the initial plans are successful).<\/p>\n
Guidelines for undertaking the proposal<\/p>\n
\u2013 Section 1: The analysis of the marketing environment
This first section you answer the question \u201cwhere are we?\u201d by undertaking a marketing environment audit. This part of the report should include an explanation of the role of the analysis and give guidelines regarding how the attraction should audit:<\/p>\n
\u2013 the macro (external) environment
\u2013 the micro (internal) environment
\u2013 the competition (using Porter\u2019s Five Forces analysis).
Indicative word count 2000 words
\u2013 Section 2: The Marketing Plan
The marketing plan should answer the remaining three questions:
\u2013 Where do we want to be?
\u2013 How will we get there?
\u2013 How well did we do?
Where do we want to be? \u2013 You should advise on clear, SMART objectives for the new attraction
How well did we do? \u2013 There should be two sections:
1. The first section is the strategy and you should (as a minimum) make justified recommendations for the STP strategy so that you have a clear target market which will be receptive to the proposed bookshop.
? You might also include Porter\u2019s generic strategy to show the direction of the attraction.
? You should incorporate academic models into your report and evaluate their effectiveness
2. The second section should explain your advice relating to the tactical marketing plan and how it could be developed in line with the chosen target market.
? You should discuss each of the 7Ps (with the exception of processes) and make justified recommendations.
? Academic theory should again be included wherever possible and evaluated.
How well did we do? \u2013 In the final section, you should explain the role of evaluation as well as discussing the control and evaluation techniques and matrices you plan to use, again giving reasons for your choices.
Indicative word count 3000 words \/ Learning Outcome 2+4<\/p>\n
In the report it is important that you include:<\/p>\n
\u2022 An explanation of and use of marketing theory including processes, marketing models and techniques
\u2022 An application of marketing principles to the chosen company
\u2022 Reference to reading
\u2022 Report presentation
Total word count: 5000 words<\/p>\n","protected":false},"excerpt":{"rendered":"
Making a market plan. The Topic: Knowing that you are studying for an MBA, your friend has asked you to advise her about writing a marketing plan for a new book shop she wishes to open in London. She is Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-185403","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/185403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=185403"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/185403\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=185403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=185403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=185403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}