FACULTY OF MANAGEMENT AND TOURISM
Principles of Marketing
Marketing plan for a NEW or CURRENT brand/product/product line of a company
You will be assigned a specific company and your task is to create a marketing plan for a NEW or CURRENT brand/ product/ product line (depend on your tutor’s requirement) that will fit with company’s objectives and current market situation. Students form a group up to five people; hold the position of company’s product managers. We will allocate to you a company as a whole such as Honda Vietnam, Vinamilk… in week 3-4 after you finalize group members. This may be from any industry sector but mostly manufacture companies in Vietnam.
Your marketing plan should comprise the following: (Refer to the text book for the contents of each part and this assessment will be also advised during tutorials).
Note: Some requirements for this report are subjected to change, please follow your tutor’s instruction.
I. Executive summary and Table of contents
The marketing plan should open with a brief summary of the plan. This executive summary is aimed at senior management to enable them to grasp quickly the plan’s major thrust, its goals and recommendations. The summary should be no more than one page long. The table of contents in the plan is a one-page guide to the structure, layout and content sections of the plan.
II. Current marketing situation
This section of the plan presents relevant background data on the target market, product, competition, distribution and the macro-environment. The data are drawn from a product fact book or database maintained by the product manager.
In this section, data are presented on the target market. The size and growth of the market (in units and/or dollars) are shown for several past years and by market and geographical segments. Data on customer needs, perceptions and buying behaviour trends are also presented.
1. It is recommended that this section be presented in tabular format. Divide the market into three to five discrete customer segments and describe these.
❖ Use of one or more of the following variables as segmentation criteria:
- Purchase occasion, regular or special occasion. - Benefits sought, i.e. off road, safety etc.
- User status, i.e., non-user, ex-user, potential user, first-time user, regular user. - Usage rate, i.e., light user, medium user, heavy user. - Loyalty status, i.e., none, medium, strong, absolute. - Readiness stage, i.e., unaware, aware, informed, interested, desirous, intending to buy - Brand familiarity, i.e. insistence, preference, recognition, non-recognition, rejection.
- Socioeconomic status
- Values, attitudes and lifestyle (activities, interests and opinions)
By age, gender, income, occupation, education, religion, nationality, family size, family life cycle.
By suburb, local government area, region, density, climate.
Describe the decision type (extent of problem solving) for the product, i.e.,
Routine response behaviour - rely on past experience, no decision is required - low cost, low risk, frequently purchased products).
❖ Limited problem solving - some information sought, usually a preference for brand or store
❖ Extended problem solving - a lot of information is sought - high cost, high risk, high involvement product
Here the sales, product prices, contribution margins and profits are shown for this...