MKT 1100 Marketing Strategy Group Project
Client: YaYa Tea, Mindy Cheung & Gary Chan, owners
Presentation due dates: Preview-Dec. 10th (draft presentation due); Final-Dec. 17th (written plan and presentation due)
Objectives and goals of marketing strategy:
- Client wants to increase sales (how will you measure?)
- Client wants to increase partnerships/collaborations with other businesses/organizations (measurement?)
- Client wants to increase brand awareness/word of mouth (measurement?)
- Clients wants to increase social media following by at least 1,000
- Budget for project(s)=$4,000
- “Above and beyond”—the introduction of Grandmother icon into brand
What should be in your marketing strategy plan?
Executive Summary: 1-2 page synopsis of the entire marketing plan, introduction
- Key points of plan
- Include 1-2 points that make the company unique
- Mission statement (group’s version)
- Core competencies
Environmental analysis: Information about the company’s current situation with respect to the marketing environment (competition, politics, economy, technology, sociocultural, legal)
- Assessment of marketing environmental factors
- Assessment of target market(s), who are the customers for your location?
- How is product positioned?
SWOT analysis: Assessment of the company’s strengths, weaknesses, opportunities, threats
- Strengths of the company/specific location
- Weaknesses of the company/specific location
- Opportunities in the environment and specific location
Marketing objectives: what does the client want to achieve? Goals?
Marketing strategies: outline of how the company will achieve its objectives
- Marketing mix (product, price, promo, place)
- What are the group’s ideas for achieving the client’s goals?
- Social media?
- Suggestions outside budgetary constraints
Market implementation: outline of how the company will implement its marketing strategies
- Activities? Collaborations? Partnerships? Events?
- Implementation timeline
Performance evaluation: Explanation of how the company will evaluate the performance of the implemented plan—measurement, how will you measure success? Return on investment (ROI)?
- If the group suggests spending $1000 on an event, how many new social media followers will the event produce? What is the cost of each follower gained?
Written Marketing Strategic Plan
All of the above categories should be included in a written document—the marketing strategic plan. A hard copy is due on the last day of class (12/17), no exceptions. The written marketing strategic plan should be typed, double-spaced, APA documentation style (when using outside sources), normal margin, 12-point font. Visuals are helpful. Identify the group, all the names of students in the group, location of group’s specific YaYa location.
Presentation should be in PowerPoint or Prezi format. It should not be a duplicate of the written marketing strategic plan! The presentation should focus on key points made in the written plan, and presenters should not just read from the slides (use slides to prompt next point). The use of images, charts, graphs, or other visuals are encouraged.
There will be two presentations—one for practice in front of panel of internal City Tech judges, and the final one on the 17th, which will be before a panel of external judges that include the client. Groups should practice the presentation before Dec 10th draft presentation is due.
Presentation and marketing strategic plan will be judged on the following: clarity of vision, creativity of strategy (collaborations, events, etc.), ability to measure/evaluate plan, feasibility of plan (is it really do-able in terms of time and budget?). The actual presentation will also be judged on these criteria as well as: team work, clear and concise presentation of material, knowledge of YaYa brand, enthusiastic and convincing presentation style, staying within the ten-minute presentation time allocation.
Team collaboration evaluation: every team member should be contributing to the marketing plan and presentation. Each team member will fill-out a self-evaluation at the end of the semester that will ask about the experience of working as team. For instance, did all members contribute/pull their weight on the project, etc.?