You have been tasked with creating a strategic marketing plan for a retail brand of your choice. You can use one of the following brands, or select another existing brand:
The Executive Summary provides a brief overlook of the major lines of the document.
The Executive Summary provide a clear, concise overview of the following points:
· Company Description: Summary of the company your brand/products belong to.
· Target Segment: Identify your target market
· Competitive Advantage: Provide summary of your competitive advantage
· Positioning Statement: Identify your targeted position within the market your brand/product competes in.
· Marketing Plan Objectives: Identify your marketing plan objectives for your brand/product.
|2.||The Company Description
The Company Description highlights the recent history and recent successes of the organisation.
|3.||Strategic Focus and Plan
This section covers three aspects of corporate strategy that influence the strategic marketing plan:
The mission: of the company or product you have chosen.
Goals: set by the company or product.
· Nonfinancial goals
· Financial goals
Core competence/sustainable competitive advantage of your product/brand: identify what are the core competence or sustainable advantage your product or brand has over its competition.
|4.||The Situation Analysis
The situation analysis should take into account both the internal and external factors affecting the market for your chosen beverage brand. Use the below aspects to conduct a situation analysis.
· SWOT analysis
· Industry analysis
· Competitor analysis
· Company analysis
· Customer analysis
This section should cover all components pertaining to the marketing strategy for the brand.
Marketing and product objectives: Provide the marketing and products objectives of your brand or product.
Target markets: identify your brand or products target market in which it operates
Points of Difference: Identify what differentiates your productor brand from its competitors.
Positioning: Indicate your brand or products position within the market it operates.
This section describes in detail three key elements of the company’s product strategy: the product line, its quality and how this is achieved, and its “cutting edge” packaging. Please include visuals of your product/brand and the packaging.
Product Line: provide the full list with detail of each of the products your brand offers.
Unique Product Quality: Highlight your brands product quality
Packaging: Provide detail of your packing of your products/brand.
The Price Strategy section makes the company’s price point very clear, along with its price position relative to potential substitutes.
The Promotion strategy describes all the promotional activities planned for your product/brand.
The Distribution Strategy is described in terms of both (1) the present method and (2) the new one to be used when the increased sales
volume makes it feasible.
Strategic Marketing Plan Assignment Answers
The retail brand of choice that has been selected for the purpose of creating a strategic marketing plan is Edgars. Edgars is a Johannesburg based chain of stores that has its presence in the entire South Africa. This department store accounts for selling shoes, clothing, beauty products including mass marketing fashion products. This strategic marketing plan is aimed at analysing the strategic focus of the company, followed by a critical situation analysis examining the industry in which the company operates. The marketing strategy including the product and pricing strategy are also analysed as a part of this strategic marketing plan.
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