MKTG 41003D Marketing Plan Overview W2023

MKTG 41003D MARKETING PLAN PROJECT Creating a Final Marketing Plan is your opportunity to apply the concepts taught in this course in a real-world simulation. The marketing plan consists of four parts, three of which are used as team assignments. The final marketing plan is due at the end of the simulation. The project description and format are found below. MARKETING PLAN PROJECT COMPONENTS FINAL YEAR 7 MARKETING PLAN (20%): The final team assignment is the complete marketing plan covering the 7 years of the simulation. Your plan should clearly show your ability to analyze and present information clearly. Your plan needs to be achievable, accurate and motivational. The first three parts are also used as team assignments. Your feedback on these assignments will guide your plan. Mistakes made on the final plan will be much more costly. GUIDELINES FOR YOUR REPORT 1. The marketing plan project is done in your PharmaSim groups. 2. Your instructor will play the role of the company CEO. 3. Must be formal, professional looking and public-ready document 4. Written impersonally (do not use “I,” “We,” or “You”) 5. Use 11 or 12 font and 1.15 - 1.5 spacing. 6. Accurate grammar and punctuation. 7. Use bullet point format, tables and graphs as much as possible. Graphs and charts must be clearly introduced, illustrated, cited, and explained within the report. 8. In-text citations within report and Reference List are expected using proper guidelines using APA 7th edition. 9. Reference sources: Use at least 3 reference sources. Make sure that they are current (no older than 3 years). Do not use pre-made SWOT Analyses, such as Marketline Company SWOT Analyses, as a primary reference source. 10. Do not quote material in this report – PARAPHRASE! 11. Before submitting the report, ask yourself if the report has all the information necessary for the CEO to make a decision. MKTG 41003D MARKETING PLAN PROJECT – Page 1 Cover Sheet Table of Contents Company Description Part 1: Introductor y Details (4%) SWOT 4Ps of primary competitor(s) POD Target markets Part 2: Situation Analysis (4%) Marketing Objectives Marketing goals Marketing tactics Part 3: Tactical Plan (4%) Financials Performance monitoring Part 4: Control Information

MARKETING PLAN SECTIONS EXECUTIVE SUMMARY (DUE WITH THE FINAL MARKETING PLAN SUBMISSION) The executive summary should only be included in the Final Marketing Plan submission. It is the last part of the report that should be written because it needs to summarize and highlight all of the key points included in the plan for the CEO (in case the CEO doesn’t have time to read the entire plan). Do not just copy and paste information from the rest of the report. PART 1 (4-5 PAGES) – INTRODUCTORY DETAILS (TEAM ASSIGNMENT #1 DUE WEEK 4)  APA cover page o Include team name and participating team members’ names.  Table of Contents (include all sections that will be part of the final plan)  Company Summary  Provide a company summary that includes: o Company legal name and legal form o Brief company history o Mission Statement o Management Team o Company’s products PART 2 (5-7 PAGES) – SITUATION ANALYSIS (TEAM ASSIGNMENT #2 DUE WEEK 6) Use company reports & marketing research to better understand your current position. Uncover problems & opportunities.  5 C’s (see Situation Analysis section of the student manual for full descriptions of each “C”) o Company o Context (based upon PEST analysis) o Collaborators (discuss channel intermediaries and the business from each) o Customers (including purchase behaviour/decision-making) o Competitors (include a 4Ps analysis for each of your primary competitors)  SWOT Analysis - Name and describe the strengths, weaknesses, opportunities and threats for your company. Include at least 10 internal items and 10 external items in the SWOT. Use the information in PharmaSim as well as the industry reports posted in SLATE.  Points of Differentiation (POD)/Points of Parity (POP) – describe how Allround is differentiated from its competitors and what factors are the same for all players in the market.  Primary target market segments – describe the top 2-3 segments using the 4 variables (demographic, geographic, psychographic and behavioural). Describe each of the segments and provide rationale for the segments you will focus on.  Persona – include a persona of one of your target markets. Use the template provided in class.  Positioning – based upon Allround’s unique selling proposition (USP), draft a positioning statement for Allround using the proper format. PART 3 (3-4 PAGES) – TACTICAL PLAN (TEAM ASSIGNMENT #3 DUE WEEK 10) MKTG 41003D MARKETING PLAN PROJECT – Page 2

 change advertising  change promotion  change the mix between call centres, direct mail and the internet  change selling  change overall communication mix. 4. Place  change channels  change delivery or distribution  change service levels  forward or backward integration  Implementation Timelines o Create a timeline or blocking chart for all tactics across the 7 year timeframe in the simulation (product, price, channel, and communication) described in the previous section, including spends and assumptions o The chart below is an example of the format you can use. Include all tactics being proposed. Tactic Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Total Expense Total PART 4 (2-4 PAGES) RESOURCE ALLOCATION AND MONITORING (DUE WITH FINAL PLAN WEEK 12)  Financials/Marketing Plan Budget – Describe how your plan’s budget will impact Allround’s profitability. Show that you know how to spend wisely. o Show your Year 7 marketing budget in a table. Your budget must be in a table format similar to the format used in PharmaSim; you may copy the same Budget Allocation format used in the PharmaSim Decision Analysis area. Include a performance summary outlining the impact of the spend on stock price, revenue, and net income.  Performance Monitoring/Measurement o Finally, every marketing plan includes “control measures” (i.e. how the company will monitor results and measure success). How will senior management know if your plan succeeded? What key results metrics or performance measures will Marketing monitor each month in order to determine success or failure and so the plan can be adjusted if it is not working? (The Metrics Cheat Sheet has many examples) How did you do in the last 7 years? MKTG 41003D MARKETING PLAN PROJECT – Page 4

IN SUMMARY You will assemble your Final Marketing Plan one part at a time as assignments for preliminary grading. As team assignments, each part is worth 4%. It will be graded critically so that you can use the feedback provided by the professor to improve your final marketing plan. Before submitting your document, ask yourself, “Does this plan contain all of the information my boss needs to make a decision in my favour?” If not, improve your plan. Final submission of the Final Marketing Plan needs to include all parts plus Executive Summary. MKTG 41003D MARKETING PLAN PROJECT – Page 5

RUBRICS FOR TEAM ASSIGNMENTS #1-3 INCOMPLETE (0-1.5%) GOOD (2-3%) EXCELLENT (3-4%) PART 1: INTRODUCTION DETAILS Incomplete cover page and/or table of contents; company description inaccurate or missing details outlined. Cover page and table of contents follow appropriate format; company described clearly and accurately, covering all required information. Cover page and table of contents enhance prescribed format with creative design; company descried clearly and accurately, covering all required information plus additional insights. PART 2: SITUATION ANALYSIS Research and/or facts are incomplete; missing 1 or more elements. Inclusion of a complete overview of the 5Cs and an accurate SWOT analysis. Segmentation, targeting and positioning are complete. Complete and accurate 5 Cs and SWOT analysis with additional environmental information that can be used to support strategy. Elements of segmentation, targeting and positioning are thorough and clear. PART 3: TACTICAL PLAN Missing or inappropriate plan objectives; missing required minimum number of tactics; tactics are not well founded or poorly envisioned. Plan is based on clearly articulated objectives; fitting tactical plan with at least 9 tactics designed to deliver strategy. Plan is based on clearly articulated objectives; fitting tactical plan to deliver strategy; additional tactics or creative tactics that demonstrate course learning. MKTG 41003D MARKETING PLAN PROJECT – Page 7

FINAL MARKETING PLAN RUBRIC Topic Level 1 (Little demonstration 0- 49%) Level 2 (Below expectations 50-64%) Level 3 (Meets expectations 65-79%) Level 4 (Exceeds expectations 80- 100%) Mark Executive Summary  Summary is very short; key information is missing and minor details are given too much attention.  Summary is unclear.  Does not create interest.  Summary is short; some important information is missing. Summary is relatively free of insignificant details.  Parts of the summary are unclear.  Parts of the summary are interesting but it does not make the reader want to read the rest of the report.  Summary is good: key information is stated well and minor details and most opinions are avoided.  The summary is fairly clear.  Parts of the summary are interesting and the reader does want to read the rest of the report.  Summary is excellent: all major points are stated clearly and concisely and minor details and opinions are avoided.  Summary covers all the sections of the Strategic Marketing Plan.  Summary can be understood independent of the complete plan.  Grabs attention and makes the reader want to read the rest of the report. /5 Company Summary  Incomplete or missing business mission.  Company’s history, management team, and products are not well described.  Business mission is missing key information. Adequate description of the company’s history, management team, and products.  Business mission is correctly identified by some explanation is missing.  Good description of the company’s history, management team, and products.  Business mission is correctly identified and explained for company.  Complete description of the company’s history, management team, and products. /5 5 Cs  Incomplete summary of main features of company, context, collaborators, customers and competitors.  Adequate summary of main features of company, context, collaborators, customers and competitors.  Good summary of main features of company, context, collaborators, customers and competitors.  Excellent summary of main features of company, context, collaborators, customers and competitors. /15 SWOT Analysis  0-5 external items listed.  0-5 internal items listed.  6-7 external items listed.  6-7 internal items listed.  8-10 external items listed.  8-10 internal items listed.  More than 10 external items listed.  More than 10 internal items listed. /7.5 Points of Differentiation/Poi nts of Parity  Incomplete or missing POPs and PODs.  POPs and PODs are incomplete and described with adequate detail.  POPs and PODs are complete and described with good detail.  POPs and PODs are complete and described with excellent detail. /5 Target Market and Persona  Provides inadequate description for each segmentation variable.  The persona doesn’t relate to the target market.  The persona is missing a name, image or description.  Provides some description for each segmentation variable.  The persona doesn’t illustrate the target market you selected.  The persona had a name and image, with little description.  Provides good description of the segment variables.  The persona provides an illustration of the target market you selected.  The persona had a name and image and is described.  Provides excellent description of the segment variables.  The persona clearly illustrates the target market you selected.  The persona had a creative name and image and is described in detail. /7.5 Positioning  No positioning statement.  Positioning statement does not make sense.  Positioning statement is mostly correct.  Positioning statement is correct. /5 Objectives  No objectives are included or they are not relevant.  1-2 relevant objectives are included or they include inadequate information.  One or more of the objectives does not meet the SMART criteria.  3 relevant objectives are included.  One or more of the objectives does not meet the SMART criteria.  More than 3 relevant objectives are included.  Objectives are SMART. /10 Tactics  No future tactics/programs are  Future tactics/programs are described with some detail.  Future tactics/programs are described with good detail.  Future tactics/programs are described with excellent /15 MKTG 41003D MARKETING PLAN PROJECT – Page 8

MARKETING PLAN FINAL PRESENTATION AND DEBRIEF Topic Level 1 (Little demonstration 0-49%) Level 2 (Below expectations 50-64%) Level 3 (Meets expectations 65-79%) Level 4 (Exceeds expectations 80- 100%) Mark Group Presentation Content  Information is all over the map, no flow or logic to the sequence of information.  Provided only a rehashing of the plan,  Not organized and many inconsistencies and/or omissions.  The flow is not well organized, logical.  Significant excess detail.  Not organized and some sections are inconsistent with one another.  Major ideas explained in a logical sequence.  Little excess detail or rehashing of the plan.  Organized but doesn’t add up to a persuasive plan.  Major ideas explained in an organized, logical sequence.  No excess detail or rehashing of the plan.  Organized and persuasive. /25 Presentation Materials  Inadequate. Slides are hard to read, distracting or inadequate for presentation.  Visuals are inadequate; hard to read or distracting.  Display and related  Information is poorly communicated with the slides.  Ineffective. Slides may be difficult to read and take away from the presentation. Too much information on many of the slides.  Visuals not optimally used. Too much/too little information.  Information is not well communicated with the slides.  Adequate. Readable slides that enhance the presentation. Too much information on some of the slides.  Visuals are optimally used.  Information is clearly communicated with the slides.  Very professional looking slides. Easy to read. Proper amount of information on the slides.  Good use of graphics or other visuals that enhance the presentation.  Information is very well communicated with the slides. /15 Cohesiveness of Presentation  Group members are not engaged when others are presenting.  Not all group members contributed to the overall presentation.  Presentation does not finish on time or is too short.  Transitions from one speaker to the next are not smooth.  One or two group members presented significantly less than the others.  Presentation does not finish on time or is too short.  Transitions from one presenter to the next are not always smooth.  One or two group members presented a bit less than the others.  Presentation does not finish on time or is too short.  Presentation flows from one presenter to the next.  Presentation timing is evenly split amongst group members.  Presentation finishes within the specified timeframe. /10 Total Group Marks /50 MKTG 41003D MARKETING PLAN PROJECT – Page 10

MARKETING PLAN FINAL PRESENTATION AND DEBRIEF Topic Level 1 (Little demonstration 0-49%) Level 2 (Below expectations 50-64%) Level 3 (Meets expectations 65- 79%) Level 4 (Exceeds expectations 80-100%) Mark Individual Professionalism  Mostly inappropriate dress, language, and content  Some inappropriate dress, language, and content  Appropriate dress, language, and content  Business casual attire, business language used throughout /10 Presentation Skills  Essentially no eye contact. Continuously reading from notes or the screen.  Difficult to hear words due to mumbling, soft- speaking, speaking too quickly or in a monotone voice. • Infrequent eye contact. Glances at the audience occasionally.  Speaks too quickly or is soft- speaking which interferes with the ability to understand their message. • Moderate eye contact. Refers to slides or notes occasionally.  Speaks fairly clearly but may have issues with pace or volume.  Continuous eye contact. Faces audience and rarely refers to notes or the screen.  Speaks moderately slowly with good articulation and volume. /20 Knowledge Level/Ability to Answer Questions  Presenter lacks knowledge of the company and the marketing plan.  Presenter is not able to answer questions.  Presenter does not appear to be that knowledgeable about the company and/or the marketing plan.  Presenter is somewhat able to answer questions.  Presenter appears somewhat knowledgeable about the company and the marketing plan.  Presenter is able to answer questions.  Presenter is clearly knowledgeable about the company and the marketing plan.  Presenter is able to answer questions with excellent responses. /20 Total Individual Marks /50 MKTG 41003D MARKETING PLAN PROJECT – Page 11