Writing Intensive Statement and Market Plan Description – Blackboard Submission
Use APA Format
The outline and section descriptions are as follows:
Cover Page
Include the name of the product or service and your name.
Table of Contents
All sections must include appropriate headings and subheadings.
1. Executive Summary
This section is completed only after both Part 1 and Part 2 of the market plan are finished. The Executive Summary provides a concise overview of the entire plan. It is not an introduction. Rather, it summarizes the key aspects of the full plan, including the situation analysis, identified opportunities, recommended strategy, and projected benefits. It is intended for executives who may not have time to read the entire document. It should clearly and succinctly state the opportunity and proposed strategic solution.
2. Background or Current Situation
This section describes how the product or service is currently being marketed—i.e., the “as is” condition. Begin with two or more sentences introducing this section.
Subheadings Required:
- Product: Describe the current product strategy.
- Pricing: Describe the current pricing strategy.
- Distribution: Describe the current distribution strategy.
- Promotion: Describe the current promotional strategy.
After presenting the 4Ps:
- Identify which of these elements are currently working and which are not.
Competition (Subheading):
Identify the current competitors.
Financial and Marketing Performance (Subheading):
Discuss sales volume or units, market size and share, profitability, awareness, and brand preference relative to competitors and the industry. Include in the appendix the three charts from the approval submission phase, along with any other updated financial data.
Industry Performance (Subheading):
Address whether the industry is growing or declining and explain why. Use demand and market research (refer to Chapter 3). Provide data on current and projected five-year industry size (in revenue/units), competitor performance, and supporting trend analysis and charts.
3. Customer Environment
Begin this section with an introductory paragraph of two or more sentences. Discuss the current segmentation, targeting, and positioning (STP) strategy for business or consumer customers.
STP Subheadings:
- Segmentation: Describe key characteristics of current and potential customers, including demographics, geography, psychographics, values/lifestyles, and product usage (e.g., heavy vs. light users).
- Targeting: Evaluate how well the firm is meeting customer needs today.
- Positioning: Analyze the current market position.
Also, apply at least one STP marketing tool (e.g., perceptual maps, Blue Ocean Strategy canvas) to demonstrate your ability to use strategic marketing tools. Refer to the Marketing Tools folder in the Course Menu and the textbook.
4. Corporate Social Responsibility and Sustainability
Discuss whether the product, service, brand, or firm has CSR or sustainability initiatives. If so, explain their nature and impact on performance or brand image. Consider this the fifth “P” or the firm’s Purpose (ESG: Environmental, Social, Governance). Refer to Sustainability Reports or company plans.
5. SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
Identify and analyze internal factors (strengths and weaknesses) and external factors (opportunities and threats) derived from the situation analysis. The SWOT should support the development of the strategic focus and identification of competitive advantages to leverage.
At the conclusion, match internal strengths with external opportunities to outline the strategy that creates value for the target customer segments identified in Section 3.
6. Marketing Goals and Objectives
Provide formal statements of desired outcomes for the product/service, based on the plan’s recommendations.
- Goals: Broad, guiding statements aligned with the overall strategy.
- Objectives: Specific, measurable, and time-bound (SMART). These should reflect the “as is” performance baseline, with short- and long-term forecasts (up to five years). Use charts or tables in the appendix.
Refer to textbook pages (e.g., p. 25) for SMART objective guidance and examples found in Chapters 9 and 11 regarding various market growth, penetration, and profitability objectives.
7. Marketing Strategy
Outline how the marketing objectives will be achieved. Use subheadings for the 4Ps.
- Target Market Selection: Reaffirm target market(s).
- Product Strategy
- Pricing Strategy
- Distribution Strategy
- Promotion Strategy
The strategy must show how the product/service will create a competitive advantage, offering a superior value proposition in terms of quality, pricing, efficiency, and communication effectiveness. Keep the focus on the specific product/service—this is not a business plan for the firm.
8. Marketing Implementation
Describe how the strategy will be carried out.
- What marketing activities will be undertaken?
- Who will perform and manage them?
- When and how will they be implemented?
- What is the cost and budget?
Include a brief summary in the body and a timeline in the appendix.
9. Evaluation and Control
Explain how the success of the marketing program will be measured and controlled. Metrics must align with the Goals and Objectives section. See the textbook for sample metrics or identify your own appropriate ones.
Final Submission Notes
Part 2 (final market plan) must include:
- Revisions to prior sections
- The Executive Summary placed at the beginning
- Sections 5 through 9 with all required subheadings
- A consolidated Works Cited section using APA format
- Appendices with clear, labeled charts, graphs, and visuals (readable font size)
Important:
Use proper APA format and professional business writing. Avoid personal pronouns. Your grade will be based on grammar, style, clarity, organization, research, formatting, citation, and writing quality. Refer to the Market Plan Information Folder and Marketing Tools folder under Weekly Lessons for additional guidance. The grading rubric aligns with these requirements.
