Marketing Plan Project: 10 pages minimum, double spaced, 12 pt. font, one inch margins
Your task is to create a marketing plan for any product, service or existing business. This project put everything you will learn together in an assignment that has real life meaning. Marketing plans are regularly used in industry and this exercise will be a valuable learning experience for you.
How do you get started? Well if you have a business you may some day wish to open, do the plan on it. It would be a great start for you.
There is also lots of help on marketing plans on the Internet. Do a google search on the subject and much will come up. I have some help you can reference under materials. There is a link there that gives you a ton of information on how to write a marketing plan (https://www.knowthis.com/how-to-write-a-marketing-plan/marketing-plan-intro/). You can also Google “Free marketing plan templates” to see what comes up. There is plenty of assistance there. There are plenty of acceptable plan structures out there. Just be careful that it isn’t a business plan format. There is a difference between marketing plans and business plans.
The toughest part is getting started. Once you get going it you will find that it begins to flow.
The hardest part is where do you begin? What idea do you use? If starting a business doesn’t appeal to you, perhaps you know someone who owns a small business now. Ask them if they would like to create a marketing plan. I guarantee you most will be excited to work with you. You already have knowledge they may not have! Believe me they will gain more from you than you will from them!
Don’t know anyone? How about creating a product or service and design a marketing plan? Look to the example in chapter two for help here. Or take an existing business in the area or product and create a marketing plan for them. I also have some great help on how to write a marketing plan in the contents area. Link to that via the “Materials” link. How to Write a Marketing Plan
Students have done everything from a wedding planning business to a high tech software company to a restaurant. Pick something you like and enjoy doing in your spare time. One male student picked an auto parts business. Now we don’t expect you to be a professional in the industry for which your marketing plan is written.
The main point of this project is to get a hands-on feel of what a marketing plan really is and the components it contains. It should combine all the elements we are learning. Some of you may be intimidated by the financials. Don’t be. You will find it hard to get information relevant to your industry and I realize many of you haven’t taken accounting or a financial course, so I will grade this part of project with that understood. Do the best you can with the limited knowledge you have. The other parts you should be able to fill in. You may have to do a little research, but a lot of marketing is common sense.
If you are struggling to fill the 10 pages, you may wish to do more detailed work in an area that really interests you. You finance type may wish to do more in that area.
Do you really like marketing communications? You may wish to develop ad schedules and really flush out the advertising and promotional approaches you intend to use.
In my former Consumer Behavior class that I used to teach at Metro State I had students do 10 pages on consumer research alone! I can share other ideas on this with you if you want.
I will be grading on common sense. For instance, coffee shops don’t have million dollar budgets. Use realistic, conservative numbers. Stuck? Give me a call and we can discuss. This plan should be a minimum of 10 pages, double spaced with one inch margins. If you think that’s long, we had one instructor in grad school who required 80 pages! Marketing plans can be very detailed if you do them right. I am asking for only 10 pages. I know that may seem excessive, but remember, we are an online course and we must substitute for in class seat time.
Again, your analysis of your target market could be several pages in itself. And if you are like most students you will find that once you get rolling it will be fairly fun (as school projects go!) project to write.
**I am an accounting student and also love hotels. Anything related to accounting or tax prep or a hotel or a bed & breakfast would be right up my alley and something I would likely write about. As you can see this assignment is very open. **
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