Marketing Plan for a New Company

Length: 1,500 words +/- 10%
(not including references and appendices)

TASK
Prepare a marketing plan for a new business in the Mill Road area of Cambridge

• You must research and identify an opportunity for a new business and locate the most suitable position for the business. This means proving that the demand for the product or service exists and that your plan is capable of fulfilling that demand.

• Your business concept should have a unique selling point (USP) and you should describe it convincingly in some detail because in real-life you would be seeking either to find investors or persuade a bank to lend you money.

• Your marketing plan should include a mission statement and a strategy with short and long- term objectives for the business and an explanation of how you intend to achieve them.

• You must identify and assess the threat of present or potential competitors.

• You must segment the market for your product/service and identify and quantify the target audience.

• You should include and apply whichever marketing techniques that you believe will reduce the risk to your ‘start-up’ business and ensure its success

Please make sure that the work is properly referenced and is written in academic English, (i.e. no short forms).

Marketing Assignment Guidelines
The points below should be used as a guide to what to include in your Marketing Project.

Mission and vision of the company and your business objectives (SMART)
Product/service description – its features and customer benefits
Situational analysis – product portfolio analysis, target market research, SWOT analysis
Marketing objectives – set targets and describe why these are suitable for the company’s products (e.g. sales levels, market share, sales growth, profit margins)
Overall marketing strategy – how do you intend to meet your marketing objectives? (e.g. mass or niche marketing, new or existing market segments?)
Marketing Mix – explain your 4Ps and how they will be used to satisfy customer demands
Segment the market and identify the target audience. Who is your typical customer?
Identify competitors and substitutes
Include details on how the product will be promoted. Provide examples of the type of promotional literature to be used.
Discuss pricing and payment strategies
Show evidence of market research to support your marketing plan eg demographic info from City/County Council website.
Timeline – briefly detail the planning process for the opening: actions, responsibilities, schedules.
Where appropriate, you should use tables, diagrams and photos to support your work. These may be included in the assignment or attached as appendices.

ASSESSMENT
The marking of your essay will be based on the following criteria:

• 30% General Academic Competence, ie language, structure, and referencing
• 70% Discipline-appropriate Knowledge, ie marketing expertise