Business and Information Technology Education
Introduction to BITE 3200 and the Final Marketing Project
An effective Retail Marketing Strategy depends on communicating the right message and image, to the right people, in the right manner, at the right time…
We live in a market economy which simply stated is an economy that lives and breathes within the confines of the government’s limited control measures. It is people and the psychology of people that move the market within the theoretical parameters of economic principles.
That said, we study marketing and in this case retail marketing procedures as an integral aspect of product and service distribution. We need to understand marketing theory as it pertains to the target audience we endeavor to reach. We also need to view retail procedures from a systemic approach taking into account many internal and external business and economic factors.
Retail marketing plans can and will evolve as the products and market change. A comprehensive retail marketing plan is an important part of an organization’s business plan and should be an ever changing and evolving work in progress which closely follows consumer trends, economics, finance and product evolutions and cycles.
During the course of your semester long project, you will be asked to create a stand alone strategic retail action plan for a retail institution and audience of your choice. You will need to provide a brief biography of the business and a thesis for your project design and objectives. You will be given a timeline for submission and a catalog of all the necessary elements. However, you will not be given a template or boiler plate for the final project. Your final project grade will be dependent on your project’s ability to realistically meet its objective. Here is where you will take into account the economy, the psychology of people (as consumers) and the confines of economic and business practices. Your readings, the discussion boards, Instructor videos and course assignments should provide you with the theoretical framework for your project.
Project Timeline
This is an outline of the course project. You will see that the course discussion board, readings, assignments and videos will be supporting your endeavor to write the final action plan. The plan (not a white paper about a plan, an actual plan will need to be written in a Word 2010 document.
Although the final plan will not be due until the last week of the semester I encourage you to work on the plan throughout the semester, this plan cannot be completed as a final week project.
I will be more than willing to review your work throughout the semester and assist you in any way I can. I am available through e-mail, office visit, phone conversation or IM.
Remember that this project is the culmination of your content knowledge of the subject matter put into a practical based outcome. The project is, simply put, an artifact of your learning process this semester. That it counts for 30% of your grade is evidence of its significance and should be aligned in magnitude.
Step 1 (due date to be determined)
Write a Thesis for your Project (no more than 1 page)
- Overview of Business Entity
Describe the company you plan to create the retail action plan for. This can be an existing business, a new business and or a conceptualized business that you create. You may choose any aspect of the retail experience to create your action plan. We will talk at length about this as we progress through the semester.
- Audience
Who is the rattail plan intended for, a decision maker like your boss or the company CEO, a financial institution, like a banker who you may be wooing for financial backing or a partner whom you would like to join you in your endeavor.
- Objective
What do you hope to accomplish with the retail plan, this means time limited goal oriented and measurable outcomes (no more than a few very specific goals). Increase profits is not a goal, increase profits of the sale of energy drinks in our north eastern division by 10% in Q2 is a goal. Being a successful business is not a goal, covering costs and meeting a preset profit margin of x% is a goal.
Also, how will you gauge the success or failure, in other word you must have a means to measure the plans operationalized success
- Budget and Resources
What will you need (money, people, resources) to make this retail action plan a reality. You must include a budget, human and physical resource requirements.
Step 2 (due date to be determined)
Outline your project
- Cover Page
Create a cover page that embodies your project and that creates an interest in the reader to read the plan
- Table of Contents
Create a true TOC in your Word document. In order to create a true TOC you will need to create an outline with headings. Do not worry if you are not done with your outline, a true TOC will allow you to update as needed.
Step 3 (due date to be determined)
Write your Retail Action Plan.
The plan should be a minimum of 7 pages but no more than 10 (excluding the cover, TOC, Reference page, and attachments). When you’re writing your Action Plan you will need to be clear and concise with regards to how you will meet your retail businesses objectives. Your objectives should have been clearly stated in your thesis and restated in your introduction.
Please take the time to review the example that will be posted. Keep in mind that this is a sample of proper work, not perfect, not to be modeled after, not to be used as a boilerplate.
You should be considering some of the following items:
- Inclusion of current market conditions as they pertain to your business
- Your business objectives (laid out in the thesis)
- Key strategies and how you will operationalize them
- Specific steps to achieving your objectives and means to measure success
- Proposed budget of the plans action
- Timing and market penetration issues
Things you must have:
- Cover Page
- Company logo, slogan and or mission statement
- Table of Contents
- An executive summary or introduction of the business (1 page) (usually written as a last item to capture your plans essence in a page)
- Clearly defined headings and topics
- Charts and graphs (where needed and applicable)
- Well developed, easy to read business document
- Pictures where applicable artwork in rare instances
- Correct file name for your zip and inclusive files
Things you must not have:
- Typographical errors
- Grammar errors
- Use of large fonts (over 12 pts) and double spacing for body text
- Large amounts of white (blank) space
- Poor layout and design
- Shallow content
- Copy and pasted information (even with citation)
- A paper about a plan (this is the plan)
- Clip art and word art (keep your audience in mind here)
- Linked or imbedded files that do not run (they need to be zipped with the project).
- Multiple files that are not zipped together (you will be handing in a single file, if you have multiple files they will have to be zipped together)
Step 4
Submit your project by the due date posted in the course. The final week of the course will have an item that contains an upload area to upload your project. Late submission will not be accepted
Grading for the final project is as follows:
_________Design (25 pts.)
The overall blueprint of the plan; includes aesthetics, colors, continuity of objects, grammar, spelling correct use of business syntax
_________Development (25 pts.)
Does the plan flow in its ability to be followed by its intended audience and is it viable in its design and development
_________Content (25 pts.)
Is it inclusive of product or service description, Promotion, Price and Placement. Are appropriate items such as: Target Market, Competition, Budget, Promotional Strategy & Activities Considered?
_________Effectiveness (25 pts.)
Does the plan set goals and or benchmarks, dictate a plan of action and allow for change based on an effective feedback model.
Above Proficient (A) 100 – 90 pts.
Proficient (B) 89 – 80pts.
Below Proficient (C) 79 – 70pts.
Insufficient (F) 69 – 0pts.
Attached you will find an example project. Though this project is not flawless it is a solid representation of the depth, breadth and presentation that is expected for the final action plan. Please do not use this example as a boiler plate for your project; instead use it as a benchmark for building your own plan.
Word Count: 2700-2800
No. of Pages: 13