Strategic Marketing Plan Executive Summary
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Strategic Marketing Plan Table of Contents Page Introduction…………………………………………………………………………………….…3 Executive Summary…………………………………………………………………………….4 Situational Analysis…………………………………………………………………………….5 Marketing Plan – New Product Introduction Objectives………………………………………………………………………………….6 Target Markets………………………………………………………………………..…6 Marketing Mix Product……………………………………………………………………………………..7 Promotion…………………………………………………………………………………8 Distribution……………………………………………………………………………..10 Price………………………………………………………………………………………..11 Marketing Research…………………………………………………………………………..12 Implementation Control………………………………………………………………….12 Summary………………………………………………………………………………………….14 Appendix A- Financial Statements……………………………………………………….16 Appendix B – Sales Forecast………………………………………………………………..17 Appendix C – Financial Analysis, Estimated Marketing Costs…………………18 Team Member Responsibility Identification………………………………………...19 Introduction In 4 Situational Analysis Strengths Weaknesses New innovative product Owners knowledge of the business Company location Existing customer base Good product patent position Young, unproven marketing team Untested product Team lacks experience bringing new products to market Distribution expansion costs Product expansion costs Opportunities Threats Product encourages marketing creativity No competition in this field Product sales appear to be recession proof Large amount of regional events New, motivated target market (college sports fans) Competition has established marketplace Environment Distribution network Weakness in economy ACTION PLAN Stick with marketing plan Strengths Exploit company location in southeast Expand in small increments Weaknesses Test new markets with samples Have a marketing presence at regional events Opportunities Be aggressive in reaching out to new target market "Hit em where they ain
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