For this exercise you will need to
understand who your target market
is, what appeals to them, and who
your competition is. You will also
want to establish your competitive
edge – what defines you from your
competition.
Prepare a 2-3 page marketing
plan using PICK Analysis,
describing the value your business
provides, your target market, your
top three competitors and how your
business will compare to each,
addressing the “4Ps” of the
marketing mix in your marketing
strategy.
Then, develop a marketing tool.
Your marketing tool should be
creative and appealing to your
target market. Additionally, a
presentation pitching your
product/service should be
prepared with high-level attention
grabbing points and visuals. It
should include an advertising
slogan, product/service highlights,
where to obtain the product/service
and contact information. Creativity
is essential here!
Examples of marketing tools
include commercials, social
networking sites, flyers, internet
ads, newspaper ads, and more.
To help you in creating your paper, presentation, and marketing tools, the assignment
requirements for this project, including the grading rubric and samples of best practices may be
reviewed under the “assignments” quicklink in Blackboard.
You have essentially three items due for your marketing project; (1) a marketing analysis
addressing the 4ps of marketing, including the target market and the competitor analysis. This is
your paper and should be at least two pages long, single spaced. The second part of the project is a
business pitch presentation, using the template provided under the Marketing Presentation
assignment. This presentation includes highlights from your paper, as well as a mission statement
and will introduce your marketing tool as part of the promotion section. (3) while in both your
paper and your presentation you will speak to multiple promotional strategies using course
concepts from the text, as part of the marketing presentation you will also move forward with
creating at least two of them (which you will also share with your presentation.
For this project, you are creating your own business. Your idea can be entirely new and innovative,
it can be something you love (like a pizza restaurant!) or even an existing business you are working
on. Please be sure to address the following items in your marketing projects:
• Your target market – who is your customer and why? census.gov may be helpful in
determining the target market. Refer to Learning Module 9, market segmentation.
• Identify 3 top competitors by name – after choosing a location, find 3 real possible
competitors in the business field and tell me why your business is better – how you
differentiate. For instance, if you are opening an ice cream store in Rockville, MD, tell me that
your competition may be Baskin Robbins, not just other ice cream stores. There is always
competition, even if you are new to the market. If you are new, who is in a similar industry
that may also enter the market, or has something similar your target market is buying?
• Your marketing plan, addressing each element of the “4Ps” as noted in Learning
Module 10 in the Prezi/PowerPoint presentation. This should be the bulk of your paper (2/3 or
so). Make sure you are applying textbook concepts using PICK Analysis to demonstrate your
understanding of how to utilize each of the 4Ps in a marketing strategy. For instance, for the
pricing section, determine which strategy/objectives you would use and why.
• Develop an advertising tool (or two) along with your business pitch presentation.
(Some students have created commercial video clips, designed websites for free
using www.wix.com. Others have created flyers, Facebook business
pages, apps using www.como.com and more! for top points, please choose two marketing
tools, one a little more in depth like a website and the other a flyer or business card etc.)
•
