Marketing Plan: Analysis and Improvements for a Retail Company

This assignment requires students to create a detailed marketing plan for a publicly traded retail company. The plan must include a cover page, table of contents, and an executive summary. It should delve into the company's mission statement, product/service offerings (including product classifications, brand differentiation, and weaknesses), and the target market (demographics, lifestyle, location, and market trends). Students are also expected to analyze the competition, determine pricing strategies (including markup and gross margin), and outline distribution and promotion strategies. The plan also includes sales forecasting, an action plan, sourcing considerations, and a bibliography, adhering to a page length requirement of 15-30 pages. The marketing plan is a central component of the business plan, requiring students to conduct market research, define the target market, and analyze the competition, pricing, promotions, and customer service. This assignment helps students apply their knowledge to real-world business scenarios.

BA206 PRINCIPLES OF MARKETING
MARKETING PLAN GUIDELINES
TOPIC: Your plan to evaluate (include your suggested improvements) a retail company based
on course content discussed in class, in text, and updated with your own research. You may select
any company you wish. Be sure to select a company that is publicly traded. Preferably, each
team will select a company that it knows about or wishes to know more about. You may
interview company employees and report what you discovered as part of your Marketing Plan.
Interviews can count as one of your resources.
All Written Marketing Plans are due prior to the last week of classes which will serve as
presentation days for each of the teams/groups.
WRITTEN GUIDELINES - format and considerations:
The Marketing Plan will contain the following main and sub headings (include main and sub-
headings in written work). Look on the Internet, in the Library, and marketing textbooks for
Sample Marketing Plans.
Cover Page with Company Name and Names of Group Members and the name of the
professor (1 p.)
Table of Contents (1 p.)
Executive Summary (This is listed first but done last.) (1-2 pp.)
I. Mission Statement (1 - 2 pp.)
• State the Company Mission.
• Explain the company’s personal vision(s) and business goals.
• Describe business goals and objectives as well as specific strategies to reach them.
II. Product/Service (2 – 3 pp.)
• Identify each the product and service mix. For product(s), identify in terms product
classifications.
• Differentiate products/services in terms of National Brands and Store Brands
• Describe product/service weaknesses.
• Describe product lines, and new products/services that will be introduced.
• Identify percent of annual sales and total dollar amount each product/service represents.
III. Market (3 – 4 pp.)
• Identify your customers - include all demographic and lifestyle information.
• Identify location of customers (local, regional, national or international).
• Identify factors in customer selection of the products/services and brands.
• Identify the size of the total market
• Identify market trends, including information about market studies and test marketing.
• List factors that affect purchasing such as: 1) seasons, 2) obsolescence, 3) tax
considerations, 4) price, availability, service, 5) emotional considerations, and 6) all other
factors.
• Will promotional activities be concentrated in specific markets?
IV. Competition (Direct and Indirect) (1 – 2 pp.)

• Identify competitors by divisions, product lines and markets.
• Identify and compare your company's and your competitors' strengths and weaknesses.
• Compare your marketing techniques with those of your competitors.
V. Pricing (1 – 2 pp.)
• Present a zone/department markup % to cover all variable and fixed expenses.
• Be sure all products/services carry their share of expenses plus provide for profit (state a
satisfactory Gross Margin %.
• Compare prices for your products/services with similar products/services in the industry.
• If your prices will be higher, they need to provide the necessary "added value" to
justify.
• If your prices are lower, explain why in terms of your marketing strategy.
VI. Distribution (1 – 2 pp.)
• Identify the most effective methods for getting products/services to customers in the
target market.
• Identify need for warehousing of products and for distribution channels if not sold direct
to buyer.
VII. Promotion Mix (2 – 4 pp.)
• Describe potential advertising program - discuss the following:
• Possible use of ad agency and/or in-house ad department
• Media choices, how selected and target audience
• Project expenditures for each medium and product/service
• Describe potential public relations/publicity activities - i.e. business opening.
VIII. Sales Forecasting (2 – 4 pp.)
• Review sales history of competitors through secondary research.
• Show recent sales trends in industry.
• Make any seasonal adjustments.
• Project sales and income for next four quarters. (Use historic sales data, if possible.)
IX. Action Plan (2 – 4 pp.)
• List all marketing strategies/activities.
• Prioritize all strategies by levels of importance.
XI. Sourcing Considerations (1 – 2 pp.) (If applicable)
• Determine level of production/service necessary to meet demand generated by marketing.
• Refer to Import/Export information.
XII. Bibliography (1 – 2 pp.)
Minimum Page Length 15 pp. Maximum Page Length 30 pp.
Importance of the Marketing Plan
The marketing plan is central to the business plan. Marketing research helps you define your

product or service, the target market, and the competition. Pricing your product is an important
step that must begin with an understanding of the total cost of the product or service. Markup
percentage, gross margin percentage, production costs, non-production costs, and profit must all
be considered when deciding price. Promotions and advertising should be planned for at least a
year in advance, taking into account seasonal fluctuations, high and low sales times, competitors’
activities, and opportunities for free publicity. Customer service may be the most important
element in your total marketing strategy. Use, evaluate, and revise your marketing plan regularly.