Include illustrations of your product, describe how it would be used, and outline who your target market is. Visual aids are always useful, so choose visual material to create interest in your ideas.

Creating a marketing plan will help you to understand the concept of marketing. Select and describe in detail a product, service, idea, or nonprofit cause that you would like to market. This could be an existing or new product, service, idea, or cause.

Next, it is important to set some realistic goals. Three possible goals of a marketing plan are:

Cto increase the sales of a product or service
Cto increase consumer awareness of the value of the product or service in anticipation of future sales
Cto fundraise for a nonprofit cause

Outline some strategies for achieving your goals.

Once an organization has determined what product, service, idea, or cause it intends to market, the next step is to determine possible consumers. The marketer who is planning to target a particular market segment (as opposed to an aggregate market) creates several different consumer profiles, and then uses marketing research to determine which segment should be considered as the primary target.

Create a consumer profile of a typical target consumer for the product, service, idea, or cause that you chose for your marketing plan. Explain, using each of the sections of your consumer profile, why you selected that specific target consumer for your business.

Competitive Analysis

A marketer wishing to enter a market must study the competition. To do this, most marketers prepare a competitive analysis as part of their marketing plan. The competitive analysis usually lists each of the direct competitors within a specific market segment. Marketers then investigate

the competitive advantages of each competitors. A new entry into the market could compete by developing new competitive advantages such as finding a specific niche, developing a cost advantage, improving product quality, or adding new style features. The new product could also try to address the competitive advantages that each of the other competitors has, such as product benefits, price, placement, or promotion.

Create a competitive analysis for the product, service, idea, or cause that you have used for your marketing plan. Use at least two major competitors. As well, discuss if they are any external factors affecting the industry at this time?

Stage 1: Identify a marketing problem
Is there a need for my product?

Stage 2: Determine what information you will need to help you solve this problem.
How many people own ??? in Canada
How many people would be interested in a ????
What type of ??? do people use now? What problems have they experienced with it?

Stage 3: decide how the data will be collected.
I will conduct a survey of students
I will organize a focus group
I will gather data on the Canadian ??? market

Stage 4: Design and conduct the survey, organize and run the focus group, and obtain market-size data on the Internet or from ??? retailers

Stage 5: Use your data collected to help you solve the problem from step 1. Prepare a report that solves the initial marketing problem by interpreting and analyzing the collected data.

Once you determine that there is a need for the product. The next stage is to determine what the product should look like, how much it will cost to make, and what price it should sell for to cover costs and make a profit. More marketing research is needed to solve these product development and pricing problems.

Create a research report that outlines the marketing-research techniques and data you acquired in an attempt to solve one or more of the marketing problems associated with your product, service, idea, or cause.

Benefit Analysis

At this time, a benefit analysis of your product, service, idea, or cause must be completed to see if your plan needs further development.

Prepare a benefit analysis for your product, service, idea, or cause.

Outline how your product is different from every other product on the market, position the product because of those differences, and develop a brand identity that helps establish and maintain your product’s position.

Outline in detail what differentiates your product, service, idea, or cause from those of your competitors.

Create a brand identity for your product, service, idea, or cause that includes an appropriate brand name, logo, and slogan.

If your product, service, idea, or cause requires a package, design one. If your product does not require packaging, create a point-of-purchase display board or brochure instead

Decide what position your product, service, idea, or cause will take in the marketplace. How will it establish this position?

In order to determine a price that will cover a business’s costs, produce a profit, create a positive image, and possible even create a competitive advantage, a marketer must consider the pricing factors.

Pricing a Product or Service

Determine the best price for your product, service, idea, or cause by considering all of the pricing factors that are relevant to your decision.

Selecting a Distribution Channel

Complete a chart similar to the one below for your product. If you are working with a service, idea, or cause, discuss how you will reach your target market.

Promotion Campaign:

Prepare an analysis similar to the one below to determine what advertising, publicity, and promotional opportunities are available in communicating the main message about your product, service, idea, or cause to your target audience.

Choose at least two media choices. Create advertising mockups for one print ad and one non-print ad (television, radio). For TV, you can prepare a commercial or create a multi framed storyboard; radio commercials must be audiotaped.

CLASS PRESENTATION

Creatively present your marketing plan to the class. Introduce your product to your classmates as if they are investors or company decision makers. In other words be enthusiastic and "sell" your ideas.

The presentation should be approximately 12 minutes long. A schedule will be posted and any audio visual equipment must be booked in advance.