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The Marketplace Business Simulation The Marketing Plan MAR 4803 Dr. Axel Stock University of Central Florida Overview Group assignment worth 15 % of your grade Due by 6 pm on Thursday, March 23 Please note the date change! Period 5 decisions and peer evaluation due at the same time

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The Marketplace Business Simulation The Marketing Plan

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The marketplace business simulation the marketing plan l.jpg

The Marketplace Business SimulationThe Marketing Plan

MAR 4803

Dr. Axel Stock

University of Central Florida


Overview l.jpg

Overview

  • Group assignment worth 15 % of your grade

  • Due by 6 pm on Thursday, March 23

    • Please note the date change!

    • Period 5 decisions and peer evaluation due at the same time

  • E-mail Word document to sbaugher4@gmail.com

  • A sample Marketing Plan can be found

    on the Website (Assigned Readings, Wed, Jan 11)


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Overview

  • A separate decision memo for period 5 does not have to be submitted

  • Every student needs to e-mail a peer evaluation form to sbaugher4@gmail.com

    • form can be found on Website

    • Evaluation should reflect team members’ contribution to the team project including the Marketing Plan

    • Please indicate

      • Section No.

      • Game No.

      • Team No.

        (check WebCT if in doubt)


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Format

  • Font size: 12 pt.

  • Font style: Times New Roman

  • Line Spacing: 1.5

  • Margins: 1 inch each


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Expectations

  • Marketing plan describes the situation in quarter 5 and is forward looking to period 8

  • The plan should be well written and links between different parts should be established (cite when appropriate)

  • Back up your analysis with quantitative information

  • Illustrate your analysis with graphs and diagrams if possible

    • Create appendix and cite it in the main body


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Marketing Plan - Structure

  • Executive Summary

  • Situation Analysis

  • SWOT Analysis

  • Marketing Goals and Objectives

  • Marketing Strategies

  • Marketing Implementation*

  • Evaluation and Control*

* Not required in paper


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Executive Summary

  • The executive summary is a summary of your Marketing Plan (thus it should be the last element written)

  • Provides an overview so the reader can quickly identify key issues or concerns related to the company and its Marketing Strategy

  • Only 1-2 pages long


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Situation analysis

  • Summarizes analyzes all pertinent information concerning YOUR business, the 5 C’s

    • Customers

    • Company

    • Competitors

    • Context

    • Collaborators

  • See class notes


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SWOT Analysis

  • Describe strengths, weaknesses, opportunities and threats

  • Discuss briefly how you plan to turnweaknesses into strengths and threats into opportunities (if applicable)


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Marketing Goals and Objectives

  • Outline your main goals and objectives for quarters 6-8

  • Goals need to be

    • Measurable (!)

    • Time bound

    • Specific

    • Actionable


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Marketing Strategy

  • Discuss your Marketing Mix (changes) that you anticipate to make during quarters 5-8

  • Cover all the 4 Ps

    • Consider and describe Pros and Cons of alternative strategies

    • Consider and discuss competitive responses


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Suggested group strategy for this project (1)

  • Develop Situation analysis

    • All relevant information (period 4 results) is available at 6 pm on Friday, March 3

    • Each team member develops one section individually

  • Each team member analyzes the results from period 4 and develops suggestions for changes (for her core competency)

  • First team meeting


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Suggested group strategy for this project (2)

  • During team meeting the team finalizes decisions for period 5

  • SWOT analysis is conducted

  • Goals and Objectives are finalized

  • During team meeting the team outlines and discusses future strategies (period 6 - 8)

  • Each team member develops one section of Marketing strategy for the Marketing Plan based on the discussion during the team meeting

    • Targeting, Product, Price, Promotion, Distribution

  • Second group meeting

    • Executive summary is written and document put together.


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