THINK LITERACY: Cross-Curricular Approaches, Grades 7-12
Tactics: Tactics are more detailed courses of action than strategies. Example: Focusing on the Internet as a medium and using celebrities from extreme sports in ads with a humourous twist would satisfy the criteria of non-traditional advertising.
In addition to Objectives, Strategies and Tactics for each of the 4Ps the following areas should be considered and discussed in the Marketing Plan.
Marketing Research Issues requiring research (product characteristics, customers, marketing mix effectiveness, competition etc.) Type of research required (i.e. research strategy)
Product The product’s USP (Unique Selling Point) Product liability, safety and social responsibility considerations, branding and Image
Packaging (e.g., design, promotion, protection) Once you have the rough sketch of your package design, consider the best material. If the type of material/paper you would like to use is not available, you may use construction paper and explain how the ideal packaging would be constructed.
Type of channel Customer service level required Major characteristics of channel members (wholesalers, retailers)
Promotion Desired positioning: What is the main message (theme) to be used in various mediums? TV/Radio Advertisement Develop a 30 second or 60 second radio or television commercial for your product. Prepare a script or storyboard using an effective strategy, appropriate to your target market and product and prepare a taped version of your advertisement. Note: If the technology is available, students may prefer to prepare on-line advertising. Print Advertisement Prepare a magazine, newspaper, direct mail or billboard ad. Ensure you have incorporated the 4 (some texts use 5) main parts of an ad.
Nature of demand (price sensitivity and elasticity) Pricing strategies: What pricing strategy is most appropriate when industry status, competition, target market and the required investment are taken into consideration? Markup chain in channel Profitability (gross margin) Financial Considerations Pro-forma (estimated) income statement
PART 3: FUTURE CONSIDERATIONS
Future plans for longer term product and/or company growth (e.g., line extensions, related new product concepts, advertising and promotional plans).
Expected changes over the Product Life Cycle