| Marketing Information
Services Spring 2000 |
| Marketing Information
Services Spring 2000 |
MARKETING PROJECT ASSIGNMENT
Part II: The Marketing Plan
Overview. The second part of this semester-long project builds on the descriptive information you have gathered for Part I. At this time, leave reality behind and using what you know, devise a marketing plan that you believe will make your organization or project successful. You may wish to revise the mission statement and overall goals of the project. Or you may wish to reaffirm the existing mission and goals but suggest changes in the offer, the price, the delivery options and/or ways of promoting the organization and its products and services that will make the organization more effective.Part II comprises six short sections: Market Segmentation and Revision of Mission and Goals, Definition of the Offer, Determination of the Price, Description of Delivery Options, Development of a Promotion Strategy , Evaluation of the Effectiveness of all Aspects. These are described in more detail below. Each section may be submitted at a specified date for feedback (and opportunity to revise) if you wish. One final grade will be given for the submission of all five sections on May 8.
The project may be done individually or in teams.
Section E: Market Segmentation. May be turned in for feedback and opportunity for revision on March 22. This section asks you to either revise or restate your organization's existing mission and to identify what you think should be its primary market segments.
An organization's mission statement should be a strong, clear statement about the its nature and its distinctive competence. The mission statement usually answers the following questions in a succinct mananer: What does (or should) the organization do (its core business, so to speak)? Who does it do it for (the beneficiaries, clients, or customers)? Why does it do it (what are the intended outcomes)? The mission should provide a good foundation for strategic development. You might wish to show the old mission statement (if one exists) juxtaposed to your new and improved version, perhaps with a brief note of explanation.
Market segmentation is a way of distinguishing separate markets. At the most extreme, each individual customer is a unique market segment (as in customized products and services). Usually, customers are groups so that products and services can be designed to appeal to groups with similiar characteristics. Some useful criteria of what constitutes a market segment are:
Describe your process for selecting and categorizing market segments, identifying those whom you would regard as primary.
- Segments should be of an adequate size to provide the organization with the desired return for its effort.
- Members of each segment should have a high degree of similarity, yet be distinct from the rest of the customer groups.
- Criteria for describing segments must be relevant to the desired behavior.
- Segments must be reachable.
Section F: Definition of the Offer. May be turned in for feedback and opportunity for revision on March 29. This section asks you either to reaffirm the product and services offered by your organization or to change them in some one.A product or a service should be considered a "problem solver," in the sense that it solves the customer's problems. The important point here is to think of the offer in terms of customer benefits.
Describe the product(s) and service(s) that the organization should offer to its primary publics. Provide sufficient detail for each product and service. Describe any social marketing plans. If any of the offerings are new, describe the strategic thinking behind their development.
Section G: Determination of the Price to the Customer. May be turned in for feedback and opportunity for revision on April 10. The price may be in dollars or in time or in psychological cost or some combination of the three. Indicate what you think the cost will be to the organization and explain the basis for your pricing strategy.Section H: Description of Delivery Options. May be turned in for feedback and opportunity for revision on April 17. State how the services or products will be delivered (the place of delivery and the channels through which delivery is provided). If there are options, describe them.
