Marketing Plan

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Marketing Plan: Background Study

Select your own topic based on personal interest. This can be a product or a service. (Ideas for inspiration: coffee stand, food truck, petsitting business, auto spa). My business is Homecare(taking care of people in their own homes-they hire someone to do the cleaning, cooking and basic chores).

Research the product category:

  • Conduct an audit by visiting a store or surfing competitors online to observe/record the following in a table:
    • Identify each of the category’s brands, and varieties of these brands (e.g. size, flavor, etc.).
    • Identify each product’s parent manufacturer, unit price, and brand imagery (as communicated by the package copy and graphics).
    • Identify segments or buckets these products can be divided into (ie dividing the category by product types, price or quality segments, important benefits offered, consumer groups served, and so forth).
    • Identify how products are displayed and what role each manufacturer plays within the category (e.g., leaders, challenger, nicher).
  • Research and write an analysis in which you obtain basic information about the category and its competitors from secondary research sources. This includes information on:
    • Category size
    • Rate of growth or decline
    • Primary competitors and their brands
    • Market shares of manufacturers and their brands
    • Channels of distribution
    • Recent product innovations
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