NO MORE THAN 7 PAGES, CHOICE A COMPANY WHAT YOU LIKE.
MIM / MCS / MENT 2019/2020
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MSP MODULE ASSESSMENT: INDIVIDUAL MARKETING PLAN
Module leader: Dr Ahmed Shaalan
INTRODUCTION
The assessment of this module is a written marketing plan. Each student is asked to develop a strategic marketing plan for a company, and one of its products in particular, of his or her choice.
· The company should sell to consumers rather than other businesses. It may sell goods, services or both. It can be from any part of the world. It could be a not-for-profit organisation provided it has products that are sold to individuals, e.g. a charity selling goods to raise money for the charity’s work.
· You are encouraged to obtain secondary data on the company, its market and its competition. This can be supplemented by your own examination of its products, target markets, and communications, insofar as you can observe them from outside.
· A template plan is attached. The plan deals with an existing product (or service) of the company, which you can choose.
· The plan should contain no more than 7 pages (plus the title page), with an additional maximum of 2 pages for any appendices, single-spaced, all margins 2.5 cm (1 in). Use 12 point font size. Font size within tables can be reduced to 9 or 10 font but make sure it is readable!
· A reference list must be included. This reference list should show, for example, the source of any secondary data you have used. The reference list does not count towards the page length.
Assessment
The plan will be assessed on the following criteria:
· Use of tools (40%): Appropriate application and plausible interpretation of tools and techniques covered in the module
· Use of data (20%): Informing the plan with secondary data where available or the student’s own observation where possible
· Commercial awareness (20%): Using mature judgement as to what actions will deliver the best commercial returns
· Integration and presentation (20%): Presenting professionally and integrating the sections of the plan so that it makes a coherent and persuasive argument.
Timeline
The project will be introduced during the module. The individual marketing plan should be submitted to Turnitin (link on Blackboard page) by 1
1.
59 pm on Friday 13 March 2020.
TEMPLATE FOR INDIVIDUAL MARKETING PLAN
CRANFIELD UNIVERSITY
CRANFIELD SCHOOL OF MANAGEMENT
[STUDENT NUMBER]
Individual Marketing Plan: [Company name]
CRANFIELD SCHOOL OF MANAGEMENT
[Course eg. Masters in Management]
Academic year: 2019-20
[Date]
1. Mission and Financial Summary (1 page approx – guidelines only)
Introduction
Very briefly introduce the company you are planning for, and the current product you are planning for in sections 3 and 4
Mission statement
Make brief statements about the following points. See McDonald & Wilson, Marketing Plans 7e, p529
Role or contribution of the unit:
Definition of the business:
Distinctive competence:
Indications for future direction:
Summary of business performance
Summarise briefly the business’s current performance and why it is good/bad. A possible template, depending on the data available, is on McDonald & Wilson p530. Or just write a sentence or short paragraph.
Summary of financial projections
Summarise your intended financial results over the planning period (typically 3 years). A possible template is on McDonald & Wilson p531. Or just write a sentence or short paragraph.
Assumptions
Document any key assumptions on which your plan depends. Assumptions should be few in number. If the plan can work irrespective of the assumption, don’t include it.
2. Market Overview (1.5 pages approx)
Explain briefly how the market works. While real plans might include PESTLE and market maps, for this plan please just include Porter 5 Forces and segmentation.
Forces affecting industry profitability
Include a Porter 5 forces analysis (Baines et al., chapter 2) with a brief commentary. Here is a possible template.
Rivalry1.
2.3.4.
5.
Threat of new entrants1. 2. 3.
4. 5.
Bargaining power of suppliers
1.
2.3.4.
5.
Bargaining power of buyers
1.
2.3.4.
5.
Threat of Substitutes1. 2. 3.
4. 5.
Market segmentation
Include a segmentation of the market (McDonald & Wilson p99-117; a quick method is on p115-117. See also Baines et al., pp 204-244). Briefly justify your chosen segmentation method. If the firm makes very diverse products, focus on one current product (see Introduction in section 1 above).
3. SWOT and Portfolio Summary: [product name] (2 pages approx)
For the current product you are focusing on, analyse your strengths and weaknesses in each segment using Cranfield’s quantified SWOT analysis (critical success factor analysis). See McDonald & Wilson p175-184. Add a brief commentary for each table/graphic on what you conclude. Use these templates or your own equivalents (e.g. from Excel) as you prefer.
Market attractiveness
|
MAFs
|
Weighting
|
Score per product-market
Fill in the segment names as column headings.
Enter a score out of 10 above the diagonal line, and a weighted score (score x weight / 100) below it.
|
|
P-M 1
|
P-M 2
|
P-M 3
|
P-M 4
|
|
|
1
|
|
|
2
|
|
|
3
|
|
|
4
|
|
|
5
|
|
|
Total
|
100
|
Critical success factors
The table below is for each product-market (segment). You may wish to summarise strengths and weaknesses in words, and also list any key opportunities/threats.
|
CSFs
|
Weighting
|
Score/weight
Score out of 10 above the diagonal line. Multiply these by the weight and divide by 100 below the line
|
|
You
|
Compet. A
|
Compet. B
|
Compet. C
|
1
2
3
4
5
Total
|
100
|
Portfolio summary
Summarise the portfolio using the Directional Policy Matrix. Add a brief commentary on what you conclude. Example below. (P1=your product name; S1, 2 etc = segments)
Assumptions, Marketing Objectives and Strategies
Relative business strengthMarket Attractiveness
highlowhighlowP1-S1P1-S4P1-S2P1-S5P1-S3
4. Objectives and Strategies (2 pages approx)
List key objectives and strategies here for the current product you are focusing on. More guidance is in McDonald & Wilson chapter 6. Here is a possible template. Optionally, you may wish to include a future version of the Directional Policy Matrix showing the impact of your objectives and strategies.
Segment
Objective(s)
Strategies
One or more for each segment where you are making changes
1. Improve [CSF name] from x to y by…[what you will do]
2. …
LINK BACK TO THE STRATEGIC OBJECTIVES (one paragraph max.)
Provide a brief statement about how the objectives and strategies that you have set for this product will support the organisation’s overall mission.
MARKETING PLANNING PROCESS (one paragraph max.)
Marketing planning is a cross-functional activity. Reflect on the process of preparing the marketing plan. Who in the organisation needs to be involved at the stage of analysis? Who needs to be involved in agreeing the strategy? Who needs to implement the plan? And who needs to monitor it? Explain how you intend to get these various departments involved.
CONCLUSION – ‘THE ELEVATOR PITCH’ (50 words max.)
Imagine you have just bumped into the CEO of your company while travelling in the lift of your building. Suddenly you have the opportunity to convince the most powerful person in your company that your plan is a good one. Write a brief 50 word statement of the benefit of your plan to your organisation. Make sure you take into account the analysis and objectives you’ve set in this document. This chance meeting may have a profound impact on whether your plan wins financial support – but remember he/she is a busy person and won’t have more than 30 seconds to listen to you!
Rivalry
1.
2.
3.
4.
5.
Threat of new entrants
1. 2. 3.
4. 5.
Bargaining power of suppliers
1.
2.
3.
4.
5.
Bargaining power of buyers
1.
2.
3.
4.
5.
Threat of Substitutes
1. 2. 3.
4. 5.
Assumptions, Marketing Objectives and Strategies
Relative business strength
Market Attractiveness
high
low
high
low
P1- S1
P1-S4
P1-S2
P1-S5
P1-S3
