Throughout this course, you will compile a comprehensive marketing plan based on one of the product scenarios below (you will use the same scenario throughout the course). The company that you will choose to submit a marketing plan for is a fictional start-up company based upon the scenarios provided. Submissions will be completed during Units II and IV, which, together, will comprise a full marketing plan.
Athletics Supreme is a company that has been in business for 10 years, and the company sells a variety of athletic equipment. They have observed the growing interest in sportswear and would like to expand their product offering to include a line of sportswear and possibly other related lines. Their goal is to provide their customers with “one-stop” shopping opportunities, maintain their brand identity, and still maintain a profit.
During this unit, you will compile the “Company Overview and Market Research” and the “Situation Analysis” portions of your marketing plan, which will be based on the company you selected above.
In the “Company Overview and Market Research” section of the marketing plan, you will introduce the fictional company you have selected/created, allowing the reader to understand the company, product/service, and any other pertinent details. In your overview, make sure to explain the marketing concept and holistic marketing concept and how one or both of these apply to your company. Marketing plans are compiled by companies that have incorporated a solid marketing research strategy in order to better understand the industry, competition, and customer. Explain the research strategies that will be used by your company.
In the “Situation Analysis” section of the marketing plan, you will begin by analyzing the macro environment by using a PEST analysis. This will lead to a better understanding of how changes in the political/legal, economic, socio-cultural, and technological environment will affect your company.
Then, you will complete an application of segmentation of the market for your fictional company. Think about behavioral, psychographic, demographic, and geographic criteria that might help you in segmenting the market. Once you have completed the segmentation, identify the target market that your company will focus on, including your rationale. It is important for the marketing manager to understand the competitive environment within the industry in which they operate. Compile a detailed, competitive analysis that can be used to examine the top three or four competitors and can differentiate each competitor from your company. Finally, assemble and thoroughly explain a SWOT (strengths, weaknesses, opportunities, threats) analysis with a minimum of three elements under each area.
The following subheadings can be used to organize the aforementioned sections:
· Company Overview and Market Research
o Overview of Company
o Market Research Strategies
· Situation Analysis
o Analyzing Macro-environment-PEST Analysis
o Segmentation & Target Market Analysis
o Competitive Analysis
o SWOT Analysis
Your APA formatted assignment should be three pages in length (not including the title and reference pages). Be sure to use the subheadings as given above. Because this assignment is a comprehensive plan, additional research and support should be included. You are required to use a minimum of three academic sources that are no more than five years old. Any resources used should be cited in APA format.