Context: Market development - Find an existing product OR service that is successful in a foreign country, which is NOT currently available in Canada. - Your task would be to introduce this product/service to the Canadian market. Instructions: 1) You are expected to do outside secondary research for this report. This would include, for example, finding and analyzing demographic information that is related to the size/location of the target markets for this product or service, information on the competition, distribution channels, promotional options and costs, etc. This may also include relevant academic and/or trade journal sources. You must provide proper citations for all sources. 2) Assume current (2022) Canadian dollars throughout. Clearly state the rationale (and/or source) behind any other assumptions that you may make. Cite all sources of information (i.e. provide references): ALL facts in the report must be substantiated except those that are obviously common knowledge. Use footnotes/endnotes where necessary, and include a bibliography. Ensure that all material included is relevant and appropriate for the situation at hand. 3) Identify relevant limitations of your report. Grading considerations a) Realistic (20\%) - Is the marketing plan realistic? (i.e. can it be implemented in the "real world"?) b) Thorough (20\%) - Have all the relevant factors (i.e. customer segment, cultural, political, financial, etc) been considered and analyzed thoroughly? c) Creative (20\%) - Did the marketing plan utilize new / original ideas or was it simply a collection of "typical" / "over used" ideas? d) Clear (20\%) - Are the information presented in a clear and concise manner? e) Professional (20\%) - Is the marketing plan presented in a professional manner? (i.e. treat this assignment as a consulting project) General guidelines 1) Use Times New Roman Font Size 12, double spaced. 2) Margins =1 (i.e. top, bottom, left, right). Specific format Please treat this as a professional (i.e. consulting) report. a) Cover Page (1 page) a. Write full name and student number. b) Executive Summary (1 page) a. Presents a brief summary of the main goals and recommendations of the plan for management review, helping top management to find the plan's major points quickly. c) Introduction (1.5 to 2 pages) a. Start with a brief summary of the company's situation, the main goals and recommendations of the plan for management review. This should lead into an introduction that explains the nature, focus, and objectives of the report to the reader. In addition, if following the market development or existing company option, you should include a brief description of the company and product/service that you are focusing on (i.e. history/background, mission statement, major products/divisions, etc.). b. With respect to the "new" product or service, state the main marketing objectives that your team would like to attain during the term of the marketing plan, and mention any key issues (i.e. major constraints) that will affect their attainment. Irrespective of the option chosen, you must concisely make a compelling case for proposing this marketing opportunity. d) Analysis of the Marketing Situation (3 to 4 pages) a. The use of "point forms" is appropriate here, as long as each point listed is clearly phrased and interpreted. Please use appropriate subheadings to organize your assessment of the following: i. Relevant factors and trends of the demographic environment, cultural and social environment, the economic environment, the technological environment, the political and legal environment (if applicable), natural and ecological environments (if applicable), etc. ii. Competitor analysis, such as defining direct and indirect competitors, what is the likelihood of new competition, what is the intensity of competition, what are specific competitors' advantages and disadvantages, competitive barriers that need to be overcome, areas of potential competitive advantage, etc. iii. Customer analysis (organizational and/or final consumer), including evaluating possible segmenting dimensions (customer needs, consumer behaviours, and other characteristics that form the bases for segmentation), identifying and profiling possible target market(s) as relating to the specific product-category under consideration (operational characteristics, potential size, and likely growth). iv. Company analysis, including company objectives and overall marketing activities, company resources (i.e. management skills and competencies, finances, human resources, and other resources, etc.). v. SWOT analysis: identification of the major strengths, weaknesses, opportunities, and threats (based on the above analyses of company resources, customers, competitors, and other aspects of the external marketing environment). e) Strategy and Recommendations (3 to 4 pages) a. On the basis of your situational analysis, generate a marketing strategy (give your strategy a descriptive label). This should include the following components (of the three below subsections, please note that the marketing strategy is the most important): i. Marketing Stratequ. Clearly state the marketing objectives of your strategy, the generic and narrow product-market(s) that you will be targeting, positioning statement, and most importantly, the marketing mix(es) of your strategy. In crafting your marketing mix(es), provide a detailed description and (if necessary, justification) for each element (Note: use of point form is OK here): 1. Product (decisions about everything the target group receives) 2. Price (decisions about everything the target group gives up to receive it) 3. Place (decisions about everything that is done to get the product to the target group) 4. Promotion (decisions about everything that is done to communicate the other three elements to the target group) ii. Financial Assessment and Budqet. At a high-level, estimate the market potential for your product/service, in the short-term, and medium-term. What is the impact on the "bottom line" of your strategy? That is, briefly discuss key figures, including projected revenues, expenses, profits (losses), etc. Show details and calculations in the appendix section but extract and discuss key figures in the main part of your report. You may also want to assess trends and/or make forecasts over the long-term. iii. Additional Issues (if any). Briefly outline any issues you foresee with regards to impact on the bottom-line, match to core competencies of the firm, viability (given resources, skills, etc.), potential competitors' responses, etc. f) Implementation and Control (1.5 to 2 pages) a. Implementation consists of your action plan-it spells out, according to a detailed time frame, how the marketing strategy will be launched into the marketplace (i.e. what has to be done, when, how, how much, who is responsible for doing it, additional resources required, obstacles to overcome, etc.). b. Are there any special implementation problems that need to be overcome? c. Finally, briefly outline the controls that will be used to monitor progress of the strategy and allow management to review and/or readjust the strategy. g) Appendices (no page limit, but they must all be relevant to the marketing plan) a. Place all supporting calculations, graphs, tables and charts, in this section. b. It is critical that you extract and discuss key the findings from your calculations into the main body of your report. c. Similarly, in the main body of your report, clearly direct the reader towards the supporting calculations, where appropriate. h) References (no page limit, but they must all be relevant to the marketing plan) a. List all sources of information