Marketing Plan Guidelines
Marketing Plan Guidelines
Introduction
Before a company commits any funds, resources, or capital to any project, market expansion, or research and development, it needs to have a good handle on the potential market outlook as well as risks.
Review the differences between the two types of data collection methods:
| Primary Information Sources | Secondary Information Sources |
| Direct observationFocus groupsSurveysExperiments | Internal data sources – The best source of data on current objectives, strategies, performance, and available resources are from the company itself.Government sources – Information on the economy, population, and business activities is the major strength of most government data sources. Government sources are also easily accessible and low in cost.Book and periodical sources – Articles and research reports are available in the library and other sources on the internet.Commercial sources – Trade reports and market research studies are available on websites like the American Marketing Association, or the Advertising Research Foundation. |
Analyze secondary information to get a better handle on customer segments and their buying criteria for the brand you have chosen. You will also gain insights into the market landscape, which includes competition, technical information, legal and regulatory issues, supply chain challenges, and other related factors. Through this analysis, you will get a good sense of how well your brand is positioned to compete in the market.
DataCollectionMethods
Describe what types of primary and secondary sources you will use to gather information about the brand you selected.
Note: You will need to support your recommendations with secondary research because you do not have time to conduct primary research.
OverviewofBrand
Describe the organization and the products or services the brand offers, including the following:
- Description of the brand, including when the brand was founded, the location, size, divisions, product lines, etc.
- Products and services offered by this brand; emphasize the benefits to potential and current customers
- How long the brand has been in the market
- Main selling points of the brand, including how many models, package sizes, and line extensions are marketed by the brand
- The experience of key personnel in the organization, as experience often relates to marketing and business success
Provide an overview of the brand’s financial condition, such as sales, growth rates, capital structure, financial stability, etc.
Include the following items, as appropriate:
- Current objectives
- Overall strategy
- Performance
- Resources
- Financial strength
- Global presence
- Marketing strengths
- Salesforce size
- Research and development excellence
- Supply chain structure
- Stakeholders
Note: You can obtain most of this information from annual reports, 10-K reports, and SEC filings.
Answer preview to Marketing Plan Guidelines
APA
2442 words