Marketing Strategy Plan
Project scope
Categories
Market research Marketing strategy Marketing analyticsSkills
marketing strategies value propositions market analysis calculations market research pricing strategies brandingWe want students to help us build a marketing strategy plan to provide insight and guide to our marketing strategy based on our product and clientele. We’d like to know how we can maximize use of different channels and get recommendations to improve our messaging.
The main questions we’d like students to help us answer are the following:
- Communicate with the founder, fact finding about the business idea and product sources, note them down and analysis.
- Answer the 5W1H for business and help us identify our target market.
- What channels should we utilize for promotion, including ones we are not currently using?
- What should our pricing strategy be? Given the calculation of product cost, labor cost, and other business operation cost to be profitable
- How could our messaging be updated to better explain our value proposition?
- What branding direction should we take
- Conduct interview with founder to fact find and record down information
- Conduct market research
- Provide market analysis
- Provide marketing strategy based on market analysis
- Provide pricing strategy based on market analysis
A project manager will be there to provide support and guidance to the students.
About the company
We were a brick and mortar coffee shop with an annual sales of $200k. Due to the impact of COVID, we have decide to change our business strategy to online business store only.