The Structure of Your Personal Marketing Plan

1.    Executive Summary

2.    Situation Analysis [50-60 % of the length of the plan]

      Customers (i.e., desired companies, graduate schools, or customers)

      Company (i.e., yourself)

  Collaborators

      Competitors

      Context

      SWOT

3.    Strategic Direction [10% of the length of the plan]

      Segmentation and Targeting

      Differentiating and Positioning (including a positioning statement)

4.    Marketing Strategy [30-40 % of the length of the plan]

      Target Market

      Product (including a product development plan)

      Price

      Place

      Promotion (including an elevator pitch)

5.    Reference

Notes:

      6-8 pages from section 1 (executive summary) to section 4 (marketing strategy), which means cover page, table of content (if you have one), and reference do not count into the 6-8 pages.

o  The page requirement is to ensure you to do enough research for your own benefits.

      12 font size; single-space between lines; double-space between paragraphs; normal page margins.

      All the sections listed above have detailed explanation in the guideline document about their purposes, requirements, and suggested resources. Make sure to read them; they are very helpful. If you still have questions after reading them, please let me know.

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Guidelines for Researching and Writing Your Personal Marketing Plan

BCOR 3510Principles of Marketing

The purpose of the personal marketing plan project is to give you an opportunity to apply marketing concepts into a non-traditional area your professional career after graduation. The plan will demonstrate how the pieces of a marketing plan fit together while also helping you learn more about yourself and various career opportunities. The personal marketing plan should also help you think about how you might use your remaining time in college to prepare for a meaningful career. While most examples will focus on marketing yourself to potential employers, the plan can also be written for graduate school, next milestone in your career path (if you already know your post- college job), or wherever else you want to go next in life.

Closely follow these writing and style guidelines for your personal marketing plan:

      The marketing plan is worth 120 points or 12% of your grade in this class.

      It will be graded on how well it reflects the structure of a marketing plan and applies course concepts.

      It should be approximately 6-8 pages (little more or less is fine), 12 font size single-space, double-space between paragraphs.

      There should be clear section headings for each major section (see bold in outline below) and sub- section (see italicized below). Organization is very important in a marketing plan.

      You can also feel free to use bullets especially when you are listing elements for example listing your strengths or weaknesses. That said, a completely bulleted plan doesn’t read well so be sure to use full sentences and paragraphs to summarize or introduce lists.

      You are welcome to use first or third person writing-style.

The plan should be organized as follows (be sure to use clear headings for each section bolded or italicized below):

1.    Executive Summary

Purpose: 2 paragraphs that provide an overview of your paper. An executive summary is not an introduction that tells the reader what you are going to do it is a summary that tells the reader what you did. You should not write it until the rest of the paper is completed. It is more a synthesis that highlights the unique aspects of the plan.

      Evaluation of this section bottom line of what we would expect to see:

      One paragraph that highlights the key factors from the situation analysis that most influenced your particular strategy.

      Then, a second paragraph highlights your unique strategic direction and key components of your marketing strategy.

2.    Situation Analysis [about 50-60% of the length of the plan]

Purpose: Conducting market research for your personal marketing plan. The Situation Analysis section of your plan requires both secondary and primary market research. As you know, a successful marketing plan starts with a solid understanding of customer wants and needs, competitor strengths and activities, company strengths and weaknesses, and recognition of key elements of the market context.

Secondary Research. This document lists a range of Suggested Resources to help you learn more about each section of the plan most of these are secondary data sources you can tap.

      Focus on a few key facts or trends. What are they?

      How can they help you be more thoughtful with your marketing strategy?

      Under the description of each section of the Situation Analysis you will see potential resources most of which are secondary data sources.

Primary Research. You are expected to conduct at least one informal informational interview with a person who works in the industry and/or job role you have identified in your target market (or a closely related one). The contact may be one that you identify through talking with a family member, friend, fellow student, LinkedIn, Career Management Center, or other means.

      Ask if you can chat with them for 15-30 minutes about their job and career path.

      Convey that you are not trying to get a job at their company or an internship, you are simply learning, and you think they would be an interesting person to learn from.

      Ideally, you should meet in person (at their office, for coffee, etc.) or over the phone if the person is not local. Skype (or FaceTime) is another good option.

      Consider asking 3 questions:

o  Can you share with me the story about how you got into this job?

o  Can you share with me what you like and dislike about it?

o  (At the end) Is there someone else you know who has different career experiences that you think I could learn from? Build yourself a network you can tap into over time.

      After the interview, spend 10-15 minutes recording your thoughts about what you learned and how you can incorporate those insights into your plan.

o  For more insight see the LMUs Informational Interview Handout (https://careers.lmu.edu/jobs/informationalinterviews/).

Sections in the Situation Analysis:

      Company. This is you. This section defines your capabilities and what you want from a job. Consider answering some of the following questions:

o  What are your strengths and weaknesses?

o  What types of job experiences have you had?

o  What career-related skillsets are you investing in? (or desire to invest in)

o  What are your passions in life that might intersect with your career?

o  Are there constraints on your search? (e.g., family matters keep you in California)?

o  Think about times when you are happy or fulfilled, what were you doing?

o  How would a family member, friend, or coworker describe you?

    Collaborators (sub-sub-section). Who are potential collaborators you could tap? Do you have family, friends, classmates, current or former employers that could help you network for a job and connections? Most jobs come from connections so this section if very important. LMU CBA LinkedIn page is a good resource.

Suggested Resources:

    Identify your interests by completing the O*Net Interest Profiler (https://www.mynextmove.org/explore/ip)

    Strengths assessment from LMU (https://careers.lmu.edu/resources/assessments/strengthsquest/)

    A free strengths assessment (https://high5test.com/)

    Join a student organization to learn more about what you like and dislike.

    Talk with your family and friends.

      Competitors. These are other applicants/students – who else is trying to get these same jobs or graduate programs?

o  Identify types of competitors who might also be seeking the same jobs.

o  What are strengths and weaknesses of each type of competitor?

Suggested Resources:

    Use LinkedIn to analyze your competitors. You can view others skills, experience, education, and how they promote themselves.

    Mention what you learned about your competition by viewing different profiles.

    Look at the NACE (National Association of Colleges and Employers) Job Outlook Survey to review skills that employers are seeking and review your competition. Besides, NACE has many other job market resources.

      Context – External market environment. Choose relevant aspects.

o  There should be some discussion of each aspect of the external market environment from chapter 4. For example, social cultural trends on millennials job seekers, technology, or more generally the current economic environment.

Suggested Resources:

    Utilize professional organizations in your field of interest to learn about social, political, technological, and economic changes in their work environment.

      Strengths-Weaknesses-Opportunities-Threats (S.W.O.T.)

o  Include a S.W.O.T. (strengths & weaknesses are internal to you and opportunities & threats that are external to you).

o  You probably want to list from 3-6 of each of these choose the most important factors.

o  This is repetitive from what you wrote in the previous sections. But, at this point, you are identifying the most important factors from the situation analysis those factors that will have the greatest influence on your strategic direction and marketing strategy.

Suggested Resources:

    Review what you wrote in previous sections.

      Evaluation of this section the bottom line in this section we will look to see:

o  Sections include customers, competitors, company (including collaborators), context, and SWOT

o  Good scope of firms (customers) and focus on a few

o  Clear understanding of customer needs

o  Thoughtful about capabilities (company/yourself)

o  Good competitor analysis, e.g., good understanding competitors strengths and weaknesses

o  Context mentions social, political, technological, economic, environmental

o  Clear SWOT, strengths/weaknesses (clearly internal) opportunity/threat (external)

o  Logical flow across the components based on significant analysis

o  Easy to see innovative ideas and connections to course concepts

o  Synthesis and focus of the secondary research gathered in situation analysis

o  Good execution of primary research (interview) one personal interview is required

o  Quality and quantity of research conducted did you conduct useful, and relevant research? Are sources cited? Did you use multiple resources? Communicated clearly?

o  Did you do an interview? Is it clear what you learned from the interview?

o  Demonstrate clear and useful insights that relate back to the plan

3.    Strategic Direction [about 10% of the length of the plan]

      Segmentation and targeting. From all the potential employers discussed in the situation analysis, which one industry or few related companies or graduate programs will you target? You could target a single company, but unless you have particular connections, you should have a group of similar companies.

o  This section should include a brief but compelling rationale for your decision. You should directly reference things you have learned and written in the Situation Analysis.

Suggested Resources:

o  Use targeted companies or programs websites to support your synthesis and identify your target market. These may show openings, portray company culture, and other vital information.

o  Need additional information to make your decision? Career and Professional Development (https://careers.lmu.edu/) can be helpful, e.g., making an appointment for consulting.

      Differentiation and positioning. How are you going to differentiate yourself from the competition? How do you want employers to view you? [Note: because you have time to make changes to your product (you!), you can note ways that you plan to grow and develop between now and graduation or job hunt time to enhance your marketability.]

o  This section should use rationale that clearly describes the competitive advantage you can offer and how you would position yourself against that competition.

o  Summarize with a clear positioning statement in this form or similar forms (create a separate paragraph):

    Among all potential (job type) hires, (your name) is the most (list 1-3 unique qualities you bring to a company) because (proof that you have those qualities)

    The qualities you can bring to an employer (in the positioning statement) should be demonstrable hopefully with evidence or stories you can tell that show you have that quality. Develop and refine those stories then look for ways to bring them into your Promotion subsection in the strategy section.

Suggested Resources:

      Review the resources from the situation analysis to identify your potential sources of competitive advantage. Think what does my target market need? What are my strengths? What do I do better than competitors?

      Evaluation of this section the bottom line in this section we will look to see:

o  Clear choice of strategic focus

o  Clear evidence that strategic direction flows from situation analysis

o  Strong and innovative point of differentiation and positioning

o  Clear positioning statement

4.    Marketing Strategy [about 30-40% of the length] [Product & Promotion Ps should get the most attention]

      Target Market. Simply re-state the target market identified in the previous section.

      Product. What do you have to offer? What will you do to enhance your offering?

o  Here you should include what services, benefits, capabilities you can offer and what additional services you expect to be able to offer prospective employers in the future.

o  This should emerge from your analysis of yourself (Company section of the situation analysis) and will probably emphasize what employers are seeking (Customer section), and how you are different (compare Company and Competitor) sections.

o  This section should also include a product development plan (what you plan to do between now and when you are hired) that will make the product a better fit for your target market.

    Note: Be clear on the skills you plan to develop or refine between now and when you are actively on the job market, and clearly indicate how you will attain those skills (internships, classes, etc.)

    Note that, in the future, your experience of developing product (i.e., yourself) is a very marketable experience to show your interests, commitments, readiness, and employability.

Suggested Resources:

      Review your company, customer, and competitor analysis try to identify how you can fit best and can demonstrate a competitive advantage. Have a plan to make yourself a more attractive candidate for your target market.

      Price. What salary and/or benefits in general will an employer need to offer for your services? [You could include any type of training needs, future career opportunities, or other benefits important to you.]

Suggested Resources:

o  O*Net resource to view salary averages by location, median wages, employment trends, and projected growth.

o  The Bureau of Labor Statistics resource with information regarding labor trends.

o  The Occupational Outlook Handbook resources on salary/growth of jobs.

o  Salary.com free information on salaries. Search by job title or location.

o  Glassdoor place for employees to provide reviews, interview questions, salary information, and company information.

o  Company section do you have any skills that may allow you to command a higher salary?

      Place. Where do you want to work? Geography? Type of work (indoor, outdoor, on the road, from home, project-based or standard 40 hour work weeks).

Suggested Resources:

o  Cost of living calculators can help you identify realistic goals.

o  You may look at climate, e.g., average annual sunshine by state, or other location-based information to identify important factors in your decision.

o  Look at your Company section are there desires or constraints that influence where you want to work?

o  Customer section are target employers located in certain places?

      Promotion. This is probably the longest section of the strategy. How will you communicate your benefits to potential employers? Promotion includes elements such as your resume, personal selling (interviews), networking, and other ideas you generate.

o  This section should include promotion objectives, which can be tied to specific promotion media, and the message you would try to use with each.

o  Develop a short Elevator Pitch, inspired by your Positioning Statement, which supports your promotional strategy.

o  Consider other innovative ways to communicate your differentiation to the target market.

o  How will you stand out as a remarkable candidate?

o  A resume is not required if you don’t have one, though you could briefly outline some of what you hope to highlight in a resume.

o  What will you highlight on your LinkedIn page?

o  Prepare a collection of stories and evidence that illustrate your capabilities and skills. Even though the details of those stories and evidence are not required in this plan, you need to develop them for yourself. They are more important and useful than any interview skills.

Suggested Resources:

o  Review your differentiation and positioning section your promotion should clearly communicate that positioning.

o  Read the LinkedIn101 (https://www.linkedin.com/pulse/linkedin-beginner-all-star-8-easy-steps-clifford-wessel/) and 201 (https://www.linkedin.com/pulse/new-2017-ui-linkedin-201-profile-optimization-branding-wessel/) articles to learn how to differentiate yourself online.

o  Develop an Elevator Pitch for yourself following the worksheets you like (you can find many of them online).

o  Use CPD of LMU to peruse job descriptions and strategize on ways to build in critical desired skills into your promotion.

o  Visit https://careers.lmu.edu/resources/resumeguide/ for resume development

o  There are multiple ways to promote yourself throughout the job search. Access the relevant topics from CPD of LMU (https://careers.lmu.edu/jobs/)

      Resume

      Job Search

      Informational Interview

      Interview, etc.

      Evaluation of this section the bottom line in this section we will look to see:

o  Product demonstrates understanding of current and future product

o  Clear product development plan

o  Clear connection between product, customer needs, and capabilities

o  Adequate treatment of price and place referencing to research

o  Promotion objectives are clear and strategy follows from them.

o  Creative, consistent, and compelling promotion discussing an array of media

o  Promotion clearly links to and supports positioning strategy

o  Well-crafted elevator pitch should be included

5.    References

Use in-text citation and provide a list of references at the end of the paper using any regular format. This should include online and offline sources you have used. Include people you have talked to about the job search process, reference should note persons name, title, and date you talked to the person.

    You are expected to talk to at least one person in this process (employers, counselors, even friends or parents who can help you assess yourself or the job market).

    You should demonstrate your research by having a list of references. The formatting of the references should be consistent but there is no special requirement for formatting. In-text citation can be done in a simple way that refers to the list of references (Richard 2020