define a goal for your marketing plan and then explore the current market trends to propose the most effective pricing, promotion, and placement of your product or service. Your plan will also include promotional timelines and a project calendar for implementation and evaluation of the marketing plan.
Specifically, the following critical elements must be addressed in your marketing plan:
Introduction: In this section of the project, you will introduce your chosen product or service from an existing sport organization as well as the overall goal of your marketing plan for promoting this product or service. This will include an overview of the current state of the sport organization and potential opportunities for the organization.
Provide an overview of your chosen sport organization and the product or service you have selected to be the focus of your marketing plan. (Remember that this must be an existing sport organization, but the product or service may already exist or may be a new, proposed product or service.)
Introduce the overall goal of your marketing plan, including a brief allusion to the determinants of the plan’s success.
Describe the current state of your chosen sport organization (e.g., popularity, recent events, history, previous marketing initiatives).
Justify how your marketing plan aligns with the mission statement for your sport organization. Support your justification with specific examples.
Briefly describe potential sales and revenue growth opportunities that this marketing plan could help develop for the sport organization.
Target Market Analysis: In this section of the project, you will analyze your target market to inform your plan for pricing, placing, and promoting your product or service within the market.
Explain the current and future trend of the market with respect to the chosen product or service. In other words, will it be appropriate to serve the needs of customers in the current and future market?
Describe the target customers (e.g., age, gender, education, lifestyle, values) for your product or service.
Justify the market research methods that you will use to retrieve information about the target market and consumers. Support your justification with research. For example, will you use primary data (e.g., surveys, focus groups, interviews) or secondary data (e.g., more general information like SGMA reports or industry reports from sport business journals)?
Describe the internal market factors (corporate culture, financial state, etc.) that affect your sport organization.
Describe the external market factors (competitors, economy, etc.) that affect your sport organization.
Discuss business data that supports a decision to undertake this marketing plan.
Industry and Organization Factor Analysis: In this section of the project, you will examine your sport organization by conducting a SWOT analysis and evaluating the readiness of your organization to enter the target market of the selected product or service.
Analyze the current status of the industry related to your sport organization, including needs and business opportunities.
Conduct a SWOT analysis that identifies strengths, weaknesses, opportunities, and threats of your sport organization.
Explain the readiness of your sport organization to enter the target market of the product or service. Support your explanation with examples from your SWOT analysis.
Explain the current economic condition of your sport organization. Support your explanation with examples from your SWOT analysis.
Marketing Strategy: In this section of the project, you will propose a marketing strategy for the price, placement, and promotion of your product or service, based on your analyses of the previous two sections. This is where the key details of your marketing plan will be communicated to stakeholders. Remember that your strategy must be supported by your market research.
Describe the key attributes of your sport product or service that make it a value for consumers. Support your position with research. Consider the following within your description: What are the features that are both appealing to consumers and different from competitors’ products? Why should consumers purchase this product instead of the competitors’ products?
Analyze the pricing standards of the industry for comparable products or services.
Propose a pricing structure for your product or service. Justify the pricing based on your analysis of comparable products or services.
Analyze the current distribution channels for comparable products or services, including the prominence of online buying within the industry.
Propose a placement and distribution structure for your product or service. Justify the structure based on your analysis of current distribution channels within the industry.
Propose a high-level promotion and advertising strategy for your product or service, including how you plan to attract new customers and retain existing customers. Support your strategy with specific examples.
Explain what social media campaigns will be part of your strategy. Justify your strategy with research.
Explain what promotional events will be part of your strategy. Justify your strategy with research.
Explain what sponsorship activation will be part of your strategy and how this will be communicated to potential customers. Justify your strategy with research.
Create a sample timeline of promotional events for the first three months of launching the product or service, including an explanation of how these events will be communicated to potential customers.
Implementation and Evaluation: In this section of the project, you will develop a project calendar for implementation of your plan and decide how you will determine the plan’s success and when evaluations of the plan will take place.
Develop a project calendar for launching the product or service, including key tasks involved in implementing the marketing plan, person(s) responsible for each task, and anticipated time frame for each task.
Explain the determinants of success of the marketing plan. In other words, how will you determine that the goals of the marketing plan have been met? Support your explanation with specific examples.
Explain when initial and ongoing evaluations of the marketing plan will take place.
Explain any contingencies or alterations to the plan in the event of negative publicity or in the event of not having accomplished your goal at the time of an evaluation of the plan.
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