THE NEXT TOP FIRM
WEEK 4: CREATING A MARKETING PLAN
TODAY'S MISSION & LESSON INSTRUCTIONS
MARKETING PLAN
Suggested Time for Activity: 3 minutes
2:10 - 2:13

A marketing plan is a document that describes how a business plans to sell to their target audience. Look at the marketing plan diagram below. The marketing plan starts by describing the business's identity. Then it identifies the business's strengths, weakness, opportunities, and threats. Next, it evaluates the target audience and identifies their buying trends and characteristics. After explaining the target audience, the marketing plan identifies the intersection, or what products and services will meet the needs of the target audience. Finally, it explains the advertising campaign which includes the advertising techniques and products or services the business has or will get that will be advertised to attract the target audience. In the real world, marketing firms will watch and refine the marketing plan after they begin the advertising campaign to make sure it is bringing in the target audience and increasing the business's profit. If it is not, they refine or change the plan.
Today you will write a marketing plan for Nelms Pharmacy. When you write a marketing plan, you are describing how you will advertise for your client, Nelms Pharmacy. For this activity, you will use a work page that takes you step by step through the process of writing a marketing plan. Click on Google Drive icon to the right. It will open your Google Drive for you in another tab. Then, click "Shared with Me. You will see a folder with your advertising firm name. Click on it and open the document entitled, "Marketing Plan Brainstorm." You will see that it is a shared document for your team. You will all work in it together. After you open it, tab back over to this screen to go to Activity 1 below.
Today you will write a marketing plan for Nelms Pharmacy. When you write a marketing plan, you are describing how you will advertise for your client, Nelms Pharmacy. For this activity, you will use a work page that takes you step by step through the process of writing a marketing plan. Click on Google Drive icon to the right. It will open your Google Drive for you in another tab. Then, click "Shared with Me. You will see a folder with your advertising firm name. Click on it and open the document entitled, "Marketing Plan Brainstorm." You will see that it is a shared document for your team. You will all work in it together. After you open it, tab back over to this screen to go to Activity 1 below.
ACTIVITY 1: COMPANY IDENTITY
Suggested Time for Activity: 7 minutes
2:13 - 2:20
The first section of your marketing plan for Nelms Pharmacy is their company's identity. Remember, Nelms Pharmacy's business identity addresses their major product or service, other special products or services, the atmosphere they want to create for people who come into Nelms Pharmacy, and the owners values, ideals, and beliefs about their business. You need to establish Nelms Pharmacy's business identity. To do this, you will tab over to the Marketing Plan Brainstorm in your Google Drive. Answer the following questions in your marketing plan under Company Identity. When you have finished, come back here and go on to Activity 2.
- What is the major product sold at Nelms Pharmacy?
- What other products are sold there?
- What atmosphere do they want to create at Nelms Pharmacy?
- What values and beliefs do they have that will impact the design of your campaign?
ACTIVITY 2: SWOT
Suggested Time for Activity: 7 minutes
2:20 - 2:27
The second section of the marketing plan is Nelms Pharmacy's SWOT. Remember, SWOT is an acronym for strengths, weaknesses, opportunities, and threats. So you will need to cover all of Nelms Pharmacy's strengths, weaknesses, opportunities, and threats. To do this, you will tab over to the Marketing Plan Brainstorm in your Google Drive. Answer the following questions in your marketing plan under SWOT. When you have finished, come back here and go on to Activity 3.
- Threats: Who are Nelms Pharmacy’s major competitors?
- Weaknesses: What can Nelms Pharmacy’s competitors offer that Nelms Pharmacy cannot?
- Strengths: What can Nelms Pharmacy offer that other pharmacies can't offer? What makes Nelms Pharmacy special?
- Opportunities: What are products or services Nelms Pharmacy could add to persuade customers to come to Nelms instead of other pharmacies?
ACTIVITY 3: TARGET AUDIENCE
Suggested Time for Activity: 7 minutes
2:27 - 2:34
The third part of the marketing plan is Nelms Pharmacy's target audience. The target audience will not be the major group of people who visit Nelms Pharmacy. It will be another group of people that you think you can advertise to in order to bring in more customers to Nelms Pharmacy. To identify the audience that you want to target for Nelms Pharmacy's ad campaign, you will tab over to the Marketing Plan Brainstorm in your Google Drive. Answer the following questions in your marketing plan under Target Audience. When you have finished, come back here and go on to Activity 4.
- What type of people visit Nelms Pharmacy the most?
- What other audience (group of people) could you target to help Nelms Pharmacy increase their profits?
If so, what other audience (group of people) could you target? - Why should you make this group the target of their ad campaign? What characteristics does this group have that might make them spend more money while they are in Nelms Pharmacy?
ACTIVITY 4: INTERSECTION
Suggested Time for Activity: 7 minutes
2:34 - 2:41
The forth component of the marketing plan is the intersection. The intersection identifies the products and services Nelms Pharmacy currently has or should get to appeal to the target audience. To determine the intersection of the target audience and products and services, you will tab over to the Marketing Plan Brainstorm in your Google Drive. Answer the following questions in your marketing plan under Intersection. When you have finished, come back here and go on to Activity 5.
- Think about the new group of people you plan to target. What products or services does Nelms Pharmacy have that might appeal to this group?
- Think about the products and services you said might appeal to the new target audience. Are there any products or services that Nelms Pharmacy could begin offering (that they are currently not offering) that would bring the target group into Nelms Pharmacy?
- Why should you make this group the target of their ad campaign? What characteristics does this group have that might make them spend more money while they are in Nelms Pharmacy?
ACTIVITY 5: CAMPAIGN
Suggested Time for Activity: 7 minutes
2:41 - 2:48
The final component of the marketing plan for our student advertising firms is the Advertising Campaign. The Advertising Campaign is the way you intend to advertise Nelms Pharmacy's products and services or products and services they will have to the target audience. This requires you to select an advertising technique that will appeal to the target audience. To review advertising techniques, scroll below the instructions to view the slideshow. To design the framework for your advertising campaign, you will tab over to the Marketing Plan Brainstorm in your Google Drive. Answer the following questions in your marketing plan under Advertising Campaign. When you have finished, come back here and go on to Activity 6.
- Think about the characteristics of the new target group. How could you advertise Nelms Pharmacy’s products or services for the new target group? In other words, how could you convince them to buy it?
- Think about the products and services that Nelms Pharmacy currently doesn’t offer, but you thought the target audience would like. How could you advertise these proposed products or services to make them appealing to the new target audience?
- Keeping Nelms Pharmacy’s values and ideals in mind, what advertising technique would work best with the new target group? Why? (Remember the slideshow is underneath the campaign section on the lesson.)
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ACTIVITY 6: MARKETING PLAN
Suggested Time for Activity: 7 minutes
2:48 - 2:55
Now it is time to write the whole marketing plan. This is the plan that you will give to Nelms Pharmacy. The marketing plan combines all the components that you just brainstormed into an easy to read report. I have provided you with prompts. The prompts will make your report easy to read. You may change this but be aware, poorly written marketing plans might cost you the Next Top Firm trophy. If you change the prompts, make sure you address all the components of a marketing plan.
Remember, this is a professional report. You need to use full sentences, proper spelling, and correct punctuation. To write the marketing plan you will go back to your Google Drive Folder with your advertising firm's name. You will see another document called, "Marketing Plan for Nelms Pharmacy." Open the document. Keep your brainstorm open in another tab, or have one group member keep the Marketing Plan Brainstorm open and another group type in the Final Marketing Plan. When you finish, raise your hand and we can go over it together.
WHAT YOU DO NOT FINISH IN CLASS WILL BE HOMEWORK! YOU WILL NEED TO FINISH THIS BEFORE WE COME BACK FROM THE BREAK. REMEMBER TO GET EACH OTHER'S PHONE NUMBERS OR EMAILS. CHECK YOUR EMAIL OVER THE BREAK!
Remember, this is a professional report. You need to use full sentences, proper spelling, and correct punctuation. To write the marketing plan you will go back to your Google Drive Folder with your advertising firm's name. You will see another document called, "Marketing Plan for Nelms Pharmacy." Open the document. Keep your brainstorm open in another tab, or have one group member keep the Marketing Plan Brainstorm open and another group type in the Final Marketing Plan. When you finish, raise your hand and we can go over it together.
WHAT YOU DO NOT FINISH IN CLASS WILL BE HOMEWORK! YOU WILL NEED TO FINISH THIS BEFORE WE COME BACK FROM THE BREAK. REMEMBER TO GET EACH OTHER'S PHONE NUMBERS OR EMAILS. CHECK YOUR EMAIL OVER THE BREAK!