MARKETING MAKEOVER PLAN
MARKETING OBJECTIVES
[Write out 1-3 most important product-specific marketing objectives that your marketing makeover plan seeks to achieve for the chosen product]
TARGET MARKET
Current Target Market
[Identify and discuss the current target market for the chosen product]
Proposed Target Market
[Identify and describe in detail one key target market for your chosen product; create a profile of the ideal customer representing the target market; identify and discuss the characteristics of the target market customer in relation to several descriptors such as demographic, psychographic, geographic, geodemographic, benefits sought, or usage rate descriptors; justify why you chose the particular target market]
PRODUCT – BRANDING
Current Branding
[Identify and describe the current branding strategy; describe and discuss any existing branding, including current use of brand mark and brand name and their potential issues; identify, describe, and discuss its existing packaging and packaging functions including their issues]
Proposed Branding
[Identify, describe, and justify your proposed branding strategy; describe and discuss your proposed branding, including suggestions for better use of brand mark and brand name development; identify, describe, and justify your proposed packaging and packaging functions]
PRODUCT – POSITIONING
Current Positioning
[Identify and describe the product’s current positioning]
Proposed Positioning
[Identify, describe, and justify your proposed (re)positioning for the product, including suggested changes; discuss the proposed (re)positioning relative to competition; identify the positioning bases of major competitors; create a perceptual map that reveals the relative positions of competitors and the company’s product’s current and proposed positioning]
MARKETING ENVIRONMENT
Social Factors
[Identify and describe product-relevant consumer attitudes and social trends]
Economic Factors
[Identify and describe macro social-economic conditions relevant to product category demand]
Technological Factors
[Identify and describe technological developments in the product’s industry]
Legal Factors
[Identify and describe major laws and regulations that may affect the product’s industry]
PLACE – MARKETING CHANNELS
Current Marketing Channels
[Identify and discuss the current level of distribution intensity of your product; identify current marketing channels]
Proposed Marketing Channels
[Identify and justify your proposed distribution intensity, including major changes; and identify specific marketing channel choices, including the specific type of store and non-store retailers you propose for your product; discuss any changes in marketing channel use]
PROMOTION – ADVERTISING
Current Advertising
[Identify and describe the current use of advertising in the product’s marketing communications, including the specific advertising appeals, executional styles, and media choices used]
Proposed Advertising
[Identify, describe, and justify your proposed use of advertising, including changes; offer and describe specific ideas about how you propose advertising should be used, including identifying proposed advertising appeals, executional styles, and associated media choices; discuss the changes]
PROMOTION – SALES PROMOTION
Current Sales Promotion
[Identify and describe the current use of sales promotion in the product’s marketing communications, including current use of sales promotion tools]
Proposed Sales Promotion
[Identify, describe, and justify the proposed use of sales promotion in the product’s marketing communications, including the proposed use of sales promotion tools; highlight changes]
PROMOTION – EVENT MARKETING
Current Event Marketing
[Identify and describe the any current use of event marketing in the product’s marketing communications, including current events]
Proposed Event Marketing
[Identify and describe the proposed use of event marketing in the product’s marketing communications, including proposed marketing events; highlight changes]
PROMOTION – PUBLIC RELATIONS
Current Public Relations
[Identify and describe the current use of public relations in the product’s marketing communications]
Proposed Public Relations
[Identify, describe and justify how, when, and for purposes you propose public relations should be used in marketing communications for your product; highlight changes]
PROMOTION – SOCIAL MEDIA
Current Social Media Use
[Identify current social media objectives; identify and describe the current use of social media tools in the marketing communications, including the specific social media tools used for the product]
Proposed Social Media Use
[Identify proposed social media objectives; identify and describe the proposed use of social media tools in the marketing communications, including the specific social media tools to be used for the product; highlight changes]
PRICE – PRICE STRATEGY AND PRICING DETAILS
Current Pricing
[Identify and discuss the current pricing goal, the current price strategy including the base price and tactics used for fine tuning the base price relevant for the product currently]
Proposed Pricing
[Identify and justify the proposed pricing goal, the proposed price strategy including the base price and suggested tactics to be used for fine-tuning the base price relevant for the product; highlight changes]