Marketing Plan: Part I
Throughout this course, you will compile a comprehensive marketing plan using one of the product/service scenarios listed below. (Note: You will use the same scenario throughout the course.) This scenario will be the basis of your start-up company and will be the catalyst for the three parts of the marketing plan that you will compose in Units II (Part I), IV (Part II), and VII (Part III). The company that you choose to submit a marketing plan for is a fictional start-up company (not an existing company). Scenarios for your start-up company are explained below. (Note that these descriptions are basic, and you will need to be creative and develop the business idea/model for your selected scenario.)
Scenario #1 Travel Supreme is a start-up travel organization with the mission of assisting customers with travel planning. While today’s customers enjoy developing their vacations themselves, Travel Supreme believes there are travel services that are still in demand. Initial research needs to develop what types of travel services are in demand by this target market.
Remember to choose one of the aforementioned scenarios to use for the entire course. Submissions will be completed in Units II, IV, VI, and VII and, together, will comprise a full marketing plan. While this is a cumulative marketing plan, submit only the designated unit’s work.
This unit’s submission should consist of the items listed below.
Include an introduction/overview of the company.
This section of the marketing plan should introduce the company and business model along with a brief description of the products/services.
Discuss market research strategies. This section of the marketing plan should discuss the research strategies that will be used by your company to understand the target market(s), industry, competition, and/or any other aspects of the company that will provide valuable insight into profitable operations.
Describe the macro environment through a political, economic, social, and technological (PEST) analysis. In this section, you will compile a PEST analysis of your company. You will analyze how the changes in the macro environment as described in the PEST will impact the company and, specifically, the marketing decisions. The format of the submission should be in essay format using subheadings. Use APA format. Additionally, you need to include a minimum of five sources, three of which must be peer-reviewed, academic sources that are no more than 5 years old. The submission should be a minimum of three pages in length (not counting the title and reference pages).