Your final marketing plan project is to be submitted using the Business Model Canvas forma
Your final marketing plan project is to be submitted using the Business Model Canvas format (similar to what we used for the week 3 version).
You will use any well-known brand as the basis of your plan. You will research the company and competitors and develop a Market Plan for the introduction of a new product line. Before you start any work on this project, your selection of brand must be approved by your professor. Introduce a new product within the current line of products, and position your plan as if you were 'selling the idea' to an investment group. There are many business propositions to choose from--why would yours stand out? Consider how the nine components of the week 3 Business Model Canvas were all interconnected. Review the following:
- Use the Notes section for each slide to explain your strategies
- Use very specific marketing language when preparing your canvas
- Did you consider the external environmental forces in your canvas?
- Did you include a competitive analysis in your canvas? How do your competitors impact your strategies?
- Cite numbers ($ or % increase; market share growth) and attach all pertinent documents to your report
- Be creative!
- It is important to understand that the Key Activities are not necessarily the obvious activities. For example, the Key Activities for a landscaper are not making sure the tractor has sharp blades or that they have enough workers to perform the daily jobs. Rather, the Key Activities a landscaper should focus on is securing NEXT YEARS's contracts by networking now and other business development activities (marketing). Also, maintaining a good working relationship with their banker is essential so they can secure instant funding in the event they need replacement equipment.
- Remember to explain any possible connections one component has with another. For example, if your Customer Relationship is going to include a high-tough costly campaign, then the Notes sections of your Costs should reflect that as you develop your pricing strategy.
- Your name and email address should appear on EVERY slide in the bottom right corner
- Your final presentation of all nine slides is due on or before the end of Unit 7 @ 11:59p
Before submitting your canvas, ask yourself the question, "Does this canvas contain all of the information a potential investor needs to make a decision in my favor?" "Why would he/she invest in my proposal over all the others received?"
Essentially, your presentation should use the Business Model Canvas format and be clear and easy-to-understand. An investor would NOT be INTERESTED in slides with boring bullet points. I hope this helps, and let me know if I can answer any questions.