This year has been challenging for businesses around the world.Many businesses have had to pivot their business operations to survive the restrictions put upon them by the global pandemic.There are many local examples in the communities we live in - restaurants and retail shops that have shifted their focus to online with curb side pickup or delivery, breweries that have shifted their production to making hand sanitizer, individuals that have created businesses out of making masks, manufacturers that have shifted to create personal protective equipment (PPE), and fitness clubs that have shifted to online content.

You will choose a business in your community and give marketing plan for a new product or service that they are offering due to the shift in the macroenvironment caused by the pandemic.You should be able to find much of the information you will need for this plan online, but it would be beneficial to reach out to the business to assist in completing the research for this project.

There are two ways which you can approach this project:

1.You can assume that you are creating this plan for the business at the beginning of the pandemic.Your scenario would be based on the first lockdown in Saskatchewan.You would write the plan based on how the company has adapted their business for this environment.If you choose this approach, you do not have to recommend exactly what the company has done - you can be creative and offer other solutions.

2.You can assume that the marketing plan starts today.The business may have already made some changes, but you will give a plan for the next 6 months to continue to sustain the business through the pandemic.

Your instructor will ask you to choose your business and type of approach early in the term.You should plan to work on this project throughout the term.

As you are writing the marketing plan, think of ways to overcome any challenges the business may have as well as opportunities that the business can take advantage of as they adapt their product line.Consider how their distribution has changed and explore new pricing and promotional activities to create value for their target customers.

Your report should include the following sections:

main Page

A main page should be included that details the name of the project, group members, class, instructor, and date.

Executive Summary

The executive summary section should be written last, once you have completed your marketing plan.This section should present a summary (1 or less) of the main goals and recommendations of the plan.Think of it as a way for a busy executive to quickly read and understand your entire plan.

Table of Contents

A table of contents should be included that lists the major sections of the plan.

Current Market Situation

For this section, describe the company's current situation in terms of:

description of the company

summary of the company's product mix (stage of product life cycle)

description of the market

review of the competition

description of the company's distribution strategy.

As part of this section, include a SWOT Analysis.Discuss the internal strengths and weaknesses of the company.In thethreats and opportunities analysissection, discuss external forces that affect the business.

This should be a significant portion of your marketing plan.Considerable secondary research is required for this section.

Objectives

For the objectives section, give at least three objectives for your next marketing cycle (6 months) and make sure you state them in specific, measurable and time bound terms.For example:Increase sales of base product by 25% over the next 6 months.Include a brief explanation of each objective.

Target Market & Positioning

In the target market & positioningsection, describe your company's target market(s) using the segmentation bases and their positioning strategy.Include a buyer persona.

Consider adding a secondary target market or perhaps repositioning your product.Ensure that your marketing mix strategies are working towards providing value for your chosen target markets and reinforcing your positioning strategy.

Marketing Mix

The marketing mix section is very important and should outline specific activities for each of the 4Ps (product, price, promotion, and place) that the company will undertake in the next business cycle.You should consider the stage of the product life cycle of the product when planning your strategy.

Product

Describe changes the company will make to their core/actual/augmented product or service.Consider quality, features, style & design, packaging, support services.

Discuss any expansions/additions to the product/service line.How will the product mix be adjusted?Include a timeline for the new product development process if applicable.

Discuss which stage of the product life cycle each product is in.

Price

Discuss the pricing strategy that will be used for the company's products (customer value based, cost based, competition based).

Discuss the break-even price and target return price.

Describe how you will price new products (market skimming or penetration pricing) if applicable.

Discuss any product mix pricing strategies that the company will use (product-line, optional product, captive product, by product, or product bundle pricing).

Discuss any price adjustment strategies that the company will use.

Place

Discuss how the company will distribute the product/service to the customer.

Describe any intermediaries that will be used.

Discuss whether the channel is indirect or direct.Explain why you have selected this distribution channel.

Promotion

Describe how the product/service will be promoted to the consumer.

Discuss which promotional tools will be used.Explain why you have chosen each tool.

Describe whether a push or pull promotional strategy is being used.Explain.

Budgets and Controls

The budgets and controls sectionwould normally be included in your marketing plan, but for our purposes, it will be omitted.You will be assessed on whether your plan is realistic, but you will not have to forecast sales or give a budget.

Appendix

Any additional relevant documents can be included in the appendix

References

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