The objective of this project is to develop a marketing plan for the new “Chevy Volt.” The purpose of this Market Planning exercise is to build a student’s exposure, familiarity and aptitude of the entire marketing process, from research to implementation. There is significant research and data available, and now that the launch has occurred, students can even access the local dealers as a resource.
While an example plan can be found on page 60, be sure to use the following template: I. Executive Summary (brief explanation of the concept or idea; detailed description of product or service; key strategic objectives) II. Marketing SituationA. Market Description (goal statement; define the market as you see it, and all major segments; define the customer needs; define the key factors that influence purchasing decisions) B. Product / Service Review (very detailed in-depth description of the product or service; features/benefits; issues of competitive advantage/disadvantage; pricing structure) C. Unique characteristics of the Marketing Environment1) Macroenvironmental Analysis [demographics, economics, natural, technological, political , cultural] 2) Microenvironmental Analysis [company, customer, competition, suppliers, publics, intermediaries]3) SWOT Outcomes [major issues to address that came out of environmental analyses]D.
Research Findings (Primary, Secondary, Competitive Intelligence,) what tools were used? what add’l tools are recommended? How has this research effort reduced or eliminated the risk associated with entering this market?E. Distribution Review (How will you be making your product available? specifically where will you be selling?)III. Marketing Objectives (how much of what are you trying to accomplish?)IV. Marketing Strategy (a strategy for “how” you will accomplish your objectives, etc.)A. Product Strategy (attributes, solution, value, branding, packaging, labeling, positioning, etc.
)B. Pricing Strategy (perception of value, costs, market, demand, new-product strategy, adjustments, etc.)C. Promotional Strategy (advertising, public relations, sales promotions, personal selling, direct marketing)D.
Physical Distribution Strategy (location, channels, warehousing, inventory, transportation)V. Marketing Dynamics Summary (detailed conclusions exploring the prime elements of risk that need to be addressed to ensure this product concept will be a success)
