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Your marketing section will include the information you have collected for customer and competition, as well as the new sections on product, price, place and promotion. The marketing plan document below expands and guides through the different parts.
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NOTE: you have completed the Market Analysis section or the marketing plan earlier. Now is the time to see if that needs a little updating or expanding based on decisions made since you wrote the analysis. Your decisions in marketing analysis have a large impact on the marketing plan piece. (Do not include the revised marketing analysis in this homework save it for the final plan.)
Several points to remember:
1. Every business plan will be different. A Website might not be what your business needs, but it might be the ONLY thing another business needs. We are trying to give you fairly comprehensive lists of things to consider, but that doesn’t mean your business has each and everyone of them. If you are trying something unusual – the first 100% online restaurant – then you need to explain how this will work.
2. DON’T forget references when needed.
3. I cannot emphasize the importance of coordination and coherency in the plan. If you have determined your target market consists of children under the age of 3, don’t sell online, don’t require credit cards and don’t advertise in print.
Citation Issues: While a business plan is not a research paper you do need to cite your sources. When you present your plan and someone challenges a fact or want to know where you got certain information, you need to be able to go back to the source. Even if they don’t challenge you, the fact that they see your citations makes them feel that you plan is researched based and not just made up. Numbered footnotes or endnotes are typically used. These are less obtrusive than the APA (Author, year) in-text citation plus Bibliography. I will accept either way, that is, endnote/footnote or APA in text. What I will not accept is a single bibliography of sources without any attempt to tie them to the facts.
Complete and submit the assignment by 23:59 EST Sunday.
Your assignment will be graded according to the grading rubric.
Content: (160 Points)
Is support given for the various decisions made? (Is there a valid reason for a totally online restaurant?)
Is the section reasonably complete? (While you might focus on a small number of advertising methods, you can’t get by with ignoring it.)
Is this section logical? You probably won’t advertise during the Super Bowl halftime your first year out.
Is this section coherent and cohesive? Do the parts fit together? There are no leaps in logic. Good flow.
Mechanics: (40 points)
Grammar/mechanics: Good spelling, punctuation, “business professional” language, readability. Consistency in things like headings, etc.
Are references provided where needed?
And, we have the opportunity to add a few bonus points for exceptional work, extra effort, special creativeness. etc. (But we tend to be stingy with these.)