1003MKT Marketing Plan: Teddy Bear Keyring, Griffith University

This marketing plan focuses on introducing a teddy bear keyring to the market, specifically targeting middle-aged women aged 25-45, aligning with the Pink Ribbon Race Day. The plan outlines marketing, communication, and sales objectives, aiming to increase market share and brand awareness. It details the target market, positioning strategy, and marketing mix elements, including product attributes, pricing, promotion, and distribution. The report also includes a timeline, evaluation metrics, and concludes with recommendations for the company. The plan integrates a situation analysis (assessment #2) and provides a comprehensive overview of the marketing strategies to achieve the set objectives. The report is designed to be a complete marketing plan, covering all essential aspects from target market analysis to evaluation and control mechanisms. It is a template to be filled by a student to complete a marketing plan.

HOW TO USE THIS TEMPLATE:
 Download and save as: [your name], [s number], Marketing mix plan 1003MKT
 Write your group details onto the title page
 Begin at the Target market section. An executive summary is always written last and should
be based on your entire plan (i.e., situation analysis and marketing mix plan).
 You are to replace all ‘your text here’ sections with your own writing.
 Remove the tips shown in bold underlined text <text text text > or Red text
 Update the table of contents before submitting – this will make sure the new page numbers
are shown correct.
 Fill in the word count on the title page. Word counts under each section are provided as
approximates as depending on what strategies you choose will depend on what you write.
You have 3000 words +/- 10% for this assessment.
 Not included in the word count: executive summary, situation analysis (assessment #2), table
of contents, anything in a table, reference list.
 Remember to correctly fill in a reference list. Ensure you reference correctly in text throughout
the document. Marks will be deducted according to the criteria of the assignment, for poor
referencing. You can see how to correctly reference by visiting the Griffith University library
website: http://www.griffith.edu.au/library/workshops-training/self-help-resources/referencing
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Marketing Plan for
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1003MKT Introduction to Marketing
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Executive Summary
<Overview of plan including objective>.
The purpose of this marketing plan is to introduce our new product, teddy bear key ring. We are
planning on targeting middle aged middle aged women from 25-45 which will be the most likely to
purchase pink ribbon, and would be main population of the pink ribbon events. We have based the
design to be fashionable yet convenient for the user. Taking into account these factors will push our
product forward in the market place.
Marketing objective :- The marketing objective for the company is to increase market
share of the company by 10% in the target market area. The objective needs to be
achieved at least 3 months before the commencement of the 2017 Pink Ribbon
Race Day.
Plan to achieve objectives :- The marketing objectives will be achieved by building
trustworthy relationship with the consumers of business. This relationship will be
build between the target market and the organisation for a longer period of time.
Communication objective :- Organisation’s communication objective is to extend
reach of brand awareness to 75 % to target consumers in the next 12 months.
Plan to achieve the objectives :- The objectives will be achieved by making use of
social media platform so that required objectives could be achieved.
Sales objectives :- The sales objectives is to increase the fundraising income of the
company by 30 % in coming 12 months.
Plan to achieve the objective :- Product awareness will be done through advertising
and sponsoring. With in less than 24 months the company the company's income
should be increased.
<Summary of Marketplace Environment>. Place text here. Place text here. Place text here. Place
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<Target Market and positioning>.
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The target market is specifically aimed at middle aged women living in the city who require a keyring
very regularly to keep their keys on. Predominately females who have children of their own or own a
home and therefore require keys for assets they possess. This is a brilliant opportunity to distribute
our unique keyring because the majority of people who attend the race day are 25 years and above.
<Primary Marketing Mix Factors used in the plan>.
Promotion:
Price:
Product:
Place: We shall be selling this product through use of a kiosk at the event as well as having
employees approaching attendees that are seated if they would like to purchase our product.
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<Evaluation>. Place text here. Place text here. Place text here. Place text here. Place text here.
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<Benefit to the company>. Place text here. Place text here. Place text here. Place text here.
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Approximately 350-400 Words (remember your Executive Summary is not included in your word
count).
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Table of Contents
Executive Summary........................................................................................................... 3
Table of Contents............................................................................................................... 5
NOTE: Students embed the information which you submitted for your “SITUATION
analysis” (assessment #2) in the below relevant sections. Remember this will not be
marked again however, some of the information you have placed in the below sections
may impact the decisions you make in reference to your marketing mix strategies
(assessment #3). Once you have embedded your situation analysis in the sections below
and completed the marketing mix and associated sections of this document, you will now
have a complete Marketing Plan. [Remove the above red text before submitting]............6
Target Market & Positioning............................................................................................... 7
Selection of Target Market.............................................................................................. 7
Positioning Strategy........................................................................................................ 7
Positioning Strategy.........................................................................................7
Positioning Attributes.......................................................................................7
Perceptual Map/s......................................................................................................... 8
NOTE: Remember to ensure that the decisions you make in reference to this section
relate to those made in the previous sections. For example, when making decisions in
reference to your marketing mix, don’t forget who your target market is; ensure your
decisions align with your target market. Importantly, don’t forget the objectives you have
set and aim to achieve (from your situation analysis). Your marketing mix decisions will
also be influenced by your objectives. [Remove the above red text before submitting]....9
Marketing Mix Strategies.................................................................................................... 9
Product/Service............................................................................................................... 9
Defining the product attributes....................................................................................9
Price.............................................................................................................................. 10
Promotion..................................................................................................................... 10
Place............................................................................................................................. 11
Example of distribution model...................................................................................12
Evaluation and Control..................................................................................................... 12
EVALUATION OF XX GOAL/OJECTIVE (need to fix this table).......................................12
Implementation & Schedule............................................................................................. 13
Gantt Chart................................................................................................................... 13
Conclusions and Recommendations.................................................................................13
Reference List.................................................................................................................. 15
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NOTE: Students embed the information which you submitted for
your “SITUATION analysis” (assessment #2) in the below relevant
sections. Remember this will not be marked again however, some
of the information you have placed in the below sections may
impact the decisions you make in reference to your marketing
mix strategies (assessment #3). Once you have embedded your
situation analysis in the sections below and completed the
marketing mix and associated sections of this document, you will
now have a complete Marketing Plan. [Remove the above red
text before submitting]
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Target Market & Positioning
Selection of Target Market
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Write approximately 200-300 words
Positioning Strategy
Positioning Strategy
<Identify which positioning strategy you will use. Generally there are two major strategies:
price and differentiation. Your choice must be based upon your competitor POS and POD
analysis> Place text here. Place text here. Place text here. Place text here. Place text here. Place
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Write approximately 100-200 words
Positioning Attributes
<Identify what 2 product/service attributes you will use to achieve this strategy, Justify based
upon the opportunities identified in the SWOT analysis> Place text here. Place text here. Place
text here. Place text here. Place text here. Place text here. Place text here. Place text here. Place
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Write approximately 100 – 150 words plus include your positioning map/s
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Perceptual Map/s
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NOTE: Remember to ensure that the decisions you make in
reference to this section relate to those made in the previous
sections. For example, when making decisions in reference to
your marketing mix, don’t forget who your target market is;
ensure your decisions align with your target market. Importantly,
don’t forget the objectives you have set and aim to achieve (from
your situation analysis). Your marketing mix decisions will also be
influenced by your objectives. [Remove the above red text before
submitting]
Marketing Mix Strategies
Product/Service
<Define the core benefit offered by the product/service> Place text here. Place text here. Place
text here. Place text here. Place text here. Place text here. Place text here. Place text here. Place
text here. Place text here. Place text here. Place text here. Place text here. Place text here. Place
text here. Place text here
<Define the actual product/service offered; e.g. materials used on manufacture, branding,
packaging, labelling etc.> Place text here. Place text here. Place text here. Place text here. Place
text here. Place text here. Place text here. Place text here. Place text here. Place text here. Place
text here. Place text here. Place text here. Place text here. Place text here. Place text here. Place
text here. Place text here. Place text here. Place text here. Place text here. Place text here.
<Define any augmentation of the product/service> Place text here. Place text here. Place text
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Defining the product attributes
Current Product Attributes New Product Attributes Resulting Consumer Benefit
Attribute 1
Attribute 2
Attribute 3
Attribute 1
Attribute 2
Benefit 1
Benefit 2
Benefit 3
 Provide a 2-D image of the new product/s with descriptors.
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Write approximately 300-400 words
Price
<Identify the cost of the product to the customer. There are two primary pricing strategies you
can use; market penetration, or skimming. Generally if this is an established marketplace then
you will price based upon your competition and your positioning strategy against them. If this
is the one and the only product in the marketplace and there are no substitutes then you will
base your price based upon what the customer is willing to pay for the benefit offered. Justify
your strategy based upon the overall objective of the marketing plan> Place text here. Place
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Write approximately 200-300 words
Promotion
<Your promotional strategy must reflect your positioning strategy. This means that the
message you are sending to the market be relative to the positioning strategy. Develop a 3-6
word sentence that can be used to portray this strategy. For instance, Toyota use “oh what a
feeling”. Also the media chosen to communicate the message must be the same media that
your target market consumes. As such the message must be the same across all the media
used. You should also include the type of advertising you will use and justify your choices –
remember who you have chosen as your target market and how will this enable you to achieve
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your objectives> Place text here. Place text here. Place text here. Place text here. Place text here.
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Write approximately 300-400 words
Place
<Identify the distribution chain you will use to transfer the product/service from the
manufacturer to the consumer. What strategy will you use to get the distributors to take on the
product: push or pull? Justify> Place text here. Place text here. Place text here. Place text here.
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