Create a Mission Statement. State your short-term MARKETING objectives (one year). Assume that the product/service is ready to launch at the beginning of the year (planning and testing have been completed).Marketing objectives include goals for sales, profits, market share (as examples)
Objectives need to be quantifiable. Use the SMART acronymsimple, measurable, achievable, relevant, and time-specificin formulating your objectives. An objective with a 100% goal is not acceptableTARGET MARKETIdentify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureaus American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.COMPETITIONAnalyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in? Hoovers Pro in the Library is a good tool for this section; it may be accessed under Find Web Resources.PRODUCT/SERVICE FEATURESProvide a brief overview of the product or service.State the features of your product/service. Show how its innovative and different. It may be unique because of the area in which you plan to market it.
Discuss legal and ethical implications that could affect the marketing process. This will require research.