Objectives
On successful completion of this assignment, students should be able to:
· explain the importance of establishing a position in a chosen market
· segment a target market
· identify the elements of a marketing plan
· assess methods of using social media to develop a market presence
Brief Description
The Marketing Plan is critical to your business idea as it will lead to success or failure of your venture. A great idea is meaningless if you cannot find customers. Carefully drafted and logical financial projections will not be met unless you have customers to buy your product/service.
Submission Instructions
You will prepare the key components of your marketing plan, a vital part of your final business plan. Using the SCORE Business Plan Template pages 11 through 18. Prepare a document addressing market research, barriers to entry, threats and opportunities, product/service features and benefits, target customer, key competitors, positioning/niche, promotional budget, and pricing, You may include the worksheets found in the template.
Evaluation and Feedback
Activity/Competencies Demonstrated
% of Final Grade
Identified how market research will be completed using both primary and secondary methods.
/15
Analyzed the threats and opportunities in the market and the position the business would take.
/15
Described the product/service features and its benefits.
/15
Identified the target customer for this business.
/15
Research and analyzed the key competitors.
/15
Explain how the business will be marketed
/15
Demonstrates good organization, including a strong introduction and conclusion.
/10
Total
/100
