Marketing Planning Workshop
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An overview of our Marketing Planning Workshop - call 615-315-7588 to learn how you can schedule our workshop for your business.

An overview of our Marketing Planning Workshop - call 615-315-7588 to learn how you can schedule our workshop for your business.

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  • Hi this is very helpful, is it possible to have a copy ? dionigi.faccenda@gmail.com
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  • very complete and useful !
    I also share it in my linked-in.
    could you please send me a copy ?
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  • Hello, Thank you for your presentation. Its great stuff.
    I'm teaching sales and marketing to therapists. www.bavt.nl This presentation is very helpful for me. Is it possible to receive a copy? Thank you in advance.
    Henk van Dijk
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  • Could I please have a copy - alex@strikemedia.net.au
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  • great presentation. please can you send me a copy of it to - manju.choudhary523@gmail.com
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  • A marketing plan provides a stable base from which your company can enter the competitive marketplace. Effective marketing is a key to running a successful business and consistency, clarity and goal orientation in your marketing activities are very important. <br /> Marketing is one of the most expensive and complicated components of business. Most marketing activities, programs once set in motion are hard to stop or turnaround. There needs to be a great deal of organization and coordination of activities for programs to work. Example: advertisement with 800 number where the people answering the phone don&apos;t know anything about the advertisement. <br /> Company wide buy-in, participation and support - with a plan everyone who is involved indirectly or directly in the marketing process knows their role. E.g. - if you want the product people to buy-in, show them the numbers you are expecting to move of their product. Also tells them what they have to do. <br /> A comprehensive marketing plan serves as a benchmark for your company by establishing concrete objectives, strategies and tactics. <br /> It minimizes surprises...you enter the marketplace with your eyes wide open to possibilities and problems. <br /> Probably most important, it tells everyone where you are going and it prevents second guessing and confusion on the part of supporting departments and outside vendors -- i.e. ad agencies, etc. <br />
  • It means understanding ... <br /> The people who make up your target market(s). <br /> Their needs - products, services and buying preferences. <br /> Where, when and how to reach them with your marketing messages. <br />
  • Market analysis is the foundation of the marketing plan. <br /> This is perhaps the most difficult thing for any business to do. You have to get this right or everything else falls down from here including your promotional plan. <br /> You need to be specific and you need to narrow your focus to the audience you are trying to sell. Sure everyone might need your products or services, but certain groups will be more likely to buy them. <br /> One way to find out who is likely to buy your product is to look at who has bought it in the past. This applies not only to your products, but your business partner’s products and services as well. <br /> When you&apos;re developing a target marketing plan, the question gets down to how finely do you need to target a given market to be effective. The answer depends on revenue potential and whether you can reach and service that market cost effectively. <br /> The number of segments identified in a market is a function of the cost structure of the company, the commonality of demand in the segments for specific products and services, and the number of potential customers in each resulting segment. <br />
  • Markets can be segmented lots of different ways. <br /> Differences might be: price-sensitivity, service needs, product features, etc. <br /> The questions you have to ask yourself when developing your plans are: <br /> 1) Are the differences identifiable, measurable and a reason for varying the marketing and promotional mix? <br /> 2) Do the segments respond differently to variations in the marketing/promotional mix? <br />
  • To develop effective tactics to reach a group of customers, you need to as much as possible about them. <br />
  • What factors make the most difference to success or failure of doing business with this market segment? <br />
  • Example: <br /> Strategy:Reduce bad debts from 12% to 10% in the coming fiscal year. <br /> Reduce apparel returns from 20% to 10% in the coming fiscal year. <br /> Tactic:Use credit screening service to prescreen all lists during the coming fiscal. <br /> Implement standard sizing practice and chart for all apparel. <br />
  • Very important that we not get these confused. <br /> Three major classes of strategies: <br /> Market expansion - more fully penetrate existing market <br /> Market entry - penetrate new market <br /> Retrenchment <br /> Market entry strategy modes: <br /> Product development - new products, old markets <br /> Market development - new markets, old products <br /> Diversification - new product, new markets <br />
  • We&apos;ve now discussed market analysis and segmentation and are ready to move on to talking about developing the three components of the marketing matrix; strategies, tactics and programs. <br /> Some marketing educators and professional combine tactics within the strategy and programs therefore become their tactics. I like to keep them separate because it gives you a clearer picture of what you are trying to accomplish. <br />
  • Developing strategies is the most creative, innovative phase of planning. <br />
  • We&apos;ve now discussed market analysis and segmentation and are ready to move on to talking about developing the three components of the marketing matrix; strategies, tactics and programs. <br /> Some marketing educators and professional combine tactics within the strategy and programs therefore become their tactics. I like to keep them separate because it gives you a clearer picture of what you are trying to accomplish. <br />
  • Programs don&apos;t have to be media related. For example, customer needs assessment training for sales executives is a program. <br />
  • The mix of promotional activities that you use is determined by seven central factors. <br /> Your market analysis will suggest the best mix of marketing communications tools to reach the target market. <br /> Your budget will determine the total amount you can or should spend on marketing communications. <br />
  • These are just some examples. <br /> You have to decide what your objectives are and then you can gear your communications towards reaching those objectives. <br />
  • Trade shows, considered part of Sales Promotion by some marketers and educators, are often broken out into a separate category because they are a primary tool in B-to-B marketing. <br />
  • The medium(s) you choose depends on creativity, budget, target market, message, cost and response desired. <br />
  • These are the media mix components. They need to be selected on the basis of who you are trying to reach, what you are trying to accomplish and how much you have to do it with. <br />
  • The media plan should be designed to expose your product to the largest possible segment of your target market in the most effective, efficient way. <br /> You should answer these questions when creating your media plan: <br /> Whom do you want to reach? <br /> Is this the right target? <br /> Have you missed anyone? <br /> When do you want to reach them? <br /> Where do you want to reach them? <br /> How many do you need to reach? <br /> How frequently do you need to reach them.? <br /> What media provide the best environments and conditions under which to reach the prospects? <br /> At what cost do you reach the prospects? <br /> Are you spending enough in total and for each medium to be most effective? <br /> Are you considering your competitions&apos; activity in the various media? <br />
  • These are items typically included in the budget, but it is not a complete list. <br />
  • The preferred method is to start with revenues and work backwards. However, the first method is often used when you have prior experience with expected response and conversion rates. <br />
  • The process of building a budget follows these steps: <br /> Determine average transaction value on a customer or product basis. Calculate the net number of transactions required to hit your revenue target. <br /> Calculate the net number of leads required to hit your closings target. <br /> Select channels based on your lead generation requirements. We&apos;re talking where the leads come from, not where the sales occur. <br /> Select programs to generate leads based on channel requirements. <br /> This method of developing budgets works whether you are talking about the entire budget or a piece of it. <br />
  • This is the final step in developing the budget and the most detailed level. <br />
  • This section is repeated for each identified target market. <br />
  • Financial Summary - Expenses and Revenues <br /> Includes tables and charts from marketing plan spreadsheets. <br /> Expenses <br /> Explain why the budget falls into different types of expenditures. Which are most important, and why. <br /> Explain why and how the budget is allocated to the different product lines. Make sure it matches your strategic focus. <br /> Show how budget allocation follows your strategy emphasis in certain market segments. Do you have strategic alignment? <br /> Explain how the budget is managed and by whom. <br /> Revenues <br /> Use introductory paragraph to summarize the key elements of the sales forecast. Highlight the products, markets, or managers expected to produce highest sales or highest sales growth. <br />
  • At the top of the pyramid are the marketing objectives. <br /> Next are the strategies, which include: markets, needs, offering, etc. <br /> Then come the tactics, which include: messages, media, channels, etc. <br /> And finally come the programs, which include: advertising, direct mail, brochures, displays, <br /> seminars, trade shows, promotions, press releases, etc. <br />
  • Tactics and programs can support the marketing strategies for more than one target market segment. <br />

Marketing Planning Workshop Presentation Transcript

  • 1. MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp Creating a Winning Marketing Plan …The Fundamentals & More ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 11
  • 2. TTaabbllee ooff CCoonntteennttss • Overview of Marketing • Market Planning Process • Marketing Communications • Marketing Budgets and Forecasts • Writing the Marketing Plan ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 22
  • 3. IInnttrroodduuccttiioonn • "K.I.S.S." ...This program introduces a simplified, straight-forward approach to the process of developing and implementing marketing plans. • It is intended as both an introductory and refresher course for marketing executives. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 33
  • 4. WWoorrkksshhoopp OObbjjeeccttiivveess • To improve your knowledge of the market planning process. • To give you a set of tools which will help you design, implement and track your marketing plan. • To give you a better understanding of marketing communications and how to use it in supporting your marketing plan. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 44
  • 5. WWhhaatt yyoouu wwiillll lleeaarrnn • How to write an actionable targeted marketing plan. • How to develop your expenses and sales budgets. • How to develop your Marketing communications strategy and Marketing communications mix. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 55
  • 6. WWoorrkksshhoopp ggooaall:: ttoo mmaakkee yyoouu aa mmaarrkkeettiinngg gguurruu ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 66
  • 7. MMaarrkkeettiinngg IIss KKnnoowwiinngg ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 77
  • 8. WWhhaatt tthhee pprroossppeecctt iiss tthhiinnkkiinngg…… • You don't know me. • You don't know my company. • You don't know my company's business. • You don't know my needs and requirements. • You don't know where I buy. • You don't know my buying process. • Now -- what was it you wanted to sell me? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 88
  • 9. WWhhaatt iiss MMaarrkkeettiinngg?? • Marketing is the sum of all activities involved in the chain of moving products from the producer to end-user. • It includes market research, product and positioning strategy, pricing, packaging, distribution, promotion, sales, etc. • The purpose of marketing research is to find out who wants or needs your product and under what conditions will they buy it. • Then marketing strategy can be formulated to meet the needs of the target market. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 99
  • 10. HHooww ddoo ssaalleess aanndd mmaarrkkeettiinngg ddiiffffeerr?? • Marketing is inclusive of sales and deals with the overall product/service offering - its conception, development, packaging, positioning, pricing, distribution, and promotion (including sales) in the market. • The sales force, working inside the firm or out in the field, take the product/promotion package and customer information provided by marketing and actually sell the product, either in person, via telephone, or the web. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1100
  • 11. AA mmaarrkkeettiinngg ppllaann ddooeess tthhee ffoolllloowwiinngg • Evaluates firm mission and vision for relevance/currency. • Checks firm strengths and weaknesses. • Checks environmental opportunities and threats. • Focuses on strategic target markets and their underlying needs. • Sets sales and marketing objectives for chosen segments. • Defines strategies, tactics and programs. • Sets sales and expense budgets. • Assigns marketing functions, responsibilities, and timelines. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1111
  • 12. WWhhyy hhaavvee aa mmaarrkkeettiinngg ppllaann?? • A marketing plan provides a stable base from which your company can enter the competitive marketplace. • Marketing is expensive requiring a great deal of organization and coordination of activities for programs to work. • To facilitate company wide buy-in, participation and support. • It serves as a benchmark for establishing concrete objectives, strategies and tactics. • It’s a record for learning. • It minimizes surprises…you enter the marketplace with your eyes wide open. • It tells everyone where you are going and prevents second guessing and confusion in the organization ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1122
  • 13. MMaarrkkeettiinngg ssuucccceessss ddeeppeennddss oonn…… • Having more knowledge about your customers and prospects than your competition. • Having a well thought out, actionable plan. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1133
  • 14. WWhhyy hhaavvee aa mmaarrkkeettiinngg ppllaann?? To facilitate execution of strategy by the marketing/sales team in order to… – Increase sales from existing customers – Acquire new customers – Find new market opportunities – Add new strategic partners – Add new sales channels • Resellers and Representatives • Value-added Resellers • Partners and Co-Branding • Joint Ventures ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1144
  • 15. TThhee MMaarrkkeett PPllaannnniinngg PPrroocceessss ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1155
  • 16. MMaarrkkeettiinngg mmaannaaggeemmeenntt pprroocceessss ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1166
  • 17. SStteeppss iinn pprroocceessss • Step 1 – analyze opportunities and set objectives – The Four "Ps" -- What do you have to offer, etc. ... – S.W.O.T. • Firm’s internal strengths and weaknesses • Internal and external environmental factors impacting your business • Industry analysis -- Where's the industry going ... – Set your marketing objectives. • Step 2 – define your target market(s) – Starting point - successful marketing plans begin with market focus. – Consider many segments, but select your primary target markets. – The target market defines the market need and product offering. • Step 3 – set your marketing strategies – Target market – Target market needs – Target market offering ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1177
  • 18. SStteeppss iinn pprroocceessss ((ccoonntt’’dd)) • Step 4 – set your marketing tactics – What are your going to offer the target market? – What and how are you going to tell the target market about this offer? – How are you going to distribute this offer to the target? – What will be your pricing strategy? • Step 5 – define your supporting marketing programs – Programs provide the specifics of implementation • Step 6 – implementation – The goal of planning is implementation. – The key to implementation is management. – To measure the success of a marketing plan, you need to be able to control and track the activities and results of those activities. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1188
  • 19. AAnnaallyyssiiss && SSeeggmmeennttaattiioonn Identifying Your Target Markets ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 1199
  • 20. DDeeffiinnee yyoouurr ttaarrggeett ccuussttoommeerrss ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2200
  • 21. Foundation ooff mmaarrkkeettiinngg ppllaann • Market analysis is most difficult to do, but you have to get it right or everything else falls down. • You need to be specific and you need to narrow your focus to the audience that will be more likely to buy from you…note everybody. • One way to find out who is likely to buy your product is to look at who has bought from you and your business partners in the past. • When you're developing a target marketing plan, the question gets down to how finely do you need to target a given market to be effective and that depends on revenue potential and whether you can reach and service that market cost effectively. • The number of segments you identify is a function of the cost structure of the company, the commonality of demand in the segments for specific products and services, and the number of potential customers in each resulting segment. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2211
  • 22. SSeeggmmeennttiinngg yyoouurr mmaarrkkeett • Markets can be segmented lots of different ways. • Differences might be: demographics, psychographics, life-styles, price-sensitivity, service needs, product features, etc. • The questions you have to ask yourself when developing your plans are: 1) Are the differences identifiable, measurable and a reason for varying the marketing and promotional mix? 2) Do the segments respond differently to variations in the marketing/promotional mix? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2222
  • 23. EExxaammpplleess ooff sseeggmmeennttaattiioonn • Consumer Markets: – Age: Under 18, 18 – 24, 25 - 34, etc. – Sex: Males, females – Income: Under $25K, $25 – 49K, $50K+, etc. – Ethnicity: Caucasian, African, Hispanic, Asian, etc. – Purchase history: triers, non-triers, heavy vs. light users, etc. • Industrial Markets: – Product: "PCs, mini computer, main frames..." – Industry: "Retail, construction, manufacturing..." – Applications: "Financial, CAD/CAM, Facility operations..." – Customer: "Accounts, Engineers, IS managers..." – Geographic: "U.S., Canada, Mexico..." – Combinations of the above ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2233
  • 24. SSeettttiinngg ttaarrggeett mmaarrkkeettss • Who are they? • Where are they? • Do they have sufficient size? • What do they need? • How do they buy? • Can you reach them with your marketing and sales messages? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2244
  • 25. MMaarrkkeett aannaallyyssiiss –– kkeeyy ccoommppoonneennttss • Market segment definition • Company analysis • Needs and requirements • Distribution channels • Competitive forces • Communications • Keys to success ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2255
  • 26. MMaarrkkeett sseeggmmeennttaattiioonn ddeeffiinniittiioonn • Define the name of the segment. • Define the universe of potential buyers - market potential. • Define growth forecast for total potential customers in the segment. • Define the average transaction value of sale and/or average sales per year. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2266
  • 27. CCoommppaannyy aannaallyyssiiss • What are your strengths? • What are your weaknesses? • What are your company's objectives as they relate to this target market? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2277
  • 28. MMaarrkkeett nneeeeddss aanndd rreeqquuiirreemmeennttss • Why do they need your product or service? • What is going to make them buy? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2288
  • 29. DDiissttrriibbuuttiioonn cchhaannnneellss • Where do the customers go to fill their needs and requirements? • What is the channel of distribution for this customer segment? • How are they different than for other segments? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 2299
  • 30. CCoommppeettiittiivvee ffoorrcceess • What is the buying process for these customers? • What are the key decision factors that make them choose one vendor over another? • Is it price, service, support, availability, quality, etc.? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3300
  • 31. CCoommmmuunniiccaattiioonnss • Where do members of this segment go for information? • Where do you send messages so that the right customers will find them? • How do you create those messages so that they will generate the right response? • What kinds of information will be most effective? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3311
  • 32. KKeeyyss ttoo ssuucccceessss • Is price more important than features? • Is ease of installation more important? • Is ease of conversion and time of conversion most important? • Is ease of use and learning most important, etc...? (Remember: You need to determine what factors make the most difference to success or failure of doing business with this market segment.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3322
  • 33. DDeevveellooppiinngg yyoouurr mmaarrkkeettiinngg ssttrraatteeggiieess aanndd ttaaccttiiccss ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3333
  • 34. SSttrraatteeggiieess && TTaaccttiiccss Strategies Tactics Strategies Theoretical Descriptive General Broad Set of Guidelines Operational An Execution Specific Detailed Implementation ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3344
  • 35. DDiiffffeerreennttiiaattiinngg ssttrraatteeggiieess aanndd ttaaccttiiccss • What is a strategy? – A marketing strategy is a statement describing the method of how a marketing objective will be achieved. – Example: We will grow sales by 5% by expanding the field sales force from 20 to 25. • What is a tactic? – A marketing tactic sets the offer, the marketing message and the way it should be transmitted. – Example: We will focus on selling the Widget to existing company accounts by having field sales reps offer free installation during the 3 month introductory period. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3355
  • 36. Three mmaajjoorr ccllaasssseess ooff ssttrraatteeggiieess • Market expansion - more fully penetrate existing market • Market entry - penetrate new market • Retrenchment • Market entry strategy modes: – Product development - new products, old markets – Market development - new markets, old products – Diversification - new product, new markets ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3366
  • 37. EExxaammpplleess • Strategy: – Reduce bad debts from 12% to 10% in the coming fiscal year. – Reduce apparel returns from 20% to 10% in the coming fiscal year. • Tactic: – Use credit screening service to prescreen all lists during the coming fiscal. – Implement standard sizing practice and chart for all apparel. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3377
  • 38. MMaarrkkeettiinngg mmaattrriixx • Now we’re ready to talk about the 3 components of the marketing mix: strategies, tactics, programs. • Some educators combine tactics within strategies and programs become tactics. • I like to keep them separate to give you a clearer picture of what you’re trying to accomplish. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3388
  • 39. SSttrraatteeggiieess bbeeggiinn wwiitthh mmaarrkkeett ffooccuuss • Positioning is an important part of market focus. • Positioning targets a product for specific market segments. • The same product can be positioned in many different ways. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 3399
  • 40. PPoossiittiioonniinngg aa pprroodduucctt aannsswweerrss tthheessee qquueessttiioonnss • What kind of product is it? • For whom is the product designed? • What is the single most important benefit it offers? • What is its most important competitor? • How is it different from that competitor? • What is the customer benefit of that difference? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4400
  • 41. DDeevveellooppiinngg sseeggmmeenntt ssppeecciiffiicc ssttrraatteeggiieess • You have defined your target markets focus and those markets' needs. • You have defined your overall offer and message. • You are now ready to produce a statement describing the method of how a marketing objective will be achieved. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4411
  • 42. RReemmeemmbbeerr……yyoouu ccaann’’tt bbee aallll tthhiinnggss ttoo aallll ppeeooppllee • Focus on selected target markets…not all targets. • Selected product offerings that appeal to target market needs • Company strengths - play to your company strengths not weaknesses • Strategies that aren't focused won't work. • Having too many is just as bad as having none. • Try to keep them to an actionable number (3 - 4). ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4422
  • 43. DDeevveellooppiinngg sseeggmmeenntt ssppeecciiffiicc ssttrraatteeggiieess • What is the marketing message? • Align your message with your target's needs. • How do you send that message to your target market? • Where are they, what do they read, watch or listen to and how do they respond? • How do you convert leads into sales? • How and where do they buy? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4433
  • 44. EExxaammppllee:: aa mmaannuuffaaccttuurriinngg ssooffttwwaarree ddeevveellooppmmeenntt ccoommppaannyy • Objective – Increase revenues by 15%. • Strategy – Position XYZ as the leading provider of information technology solutions for the discrete and process manufacturing sectors. • Tactics – Broaden product/service line matrix to include ERP solutions for mfgs.. in the $10 - 50 million revenue range. – Develop PC based manufacturing solutions for small manufacturers. • Programs – Direct marketing campaign promoting solution to target market. – Attending manufacturing trade shows. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4444
  • 45. MMaarrkkeettiinngg CCoommmmuunniiccaattiioonnss Developing Your Marketing Programs ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4455
  • 46. MMaarrkkeettiinngg mmaattrriixx ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4466
  • 47. WWhhaatt iiss aa mmaarrkkeettiinngg pprrooggrraamm?? • A marketing program implements tactics. • A marketing program is an activity with well-defined responsibilities, deadlines and measurable results. • A marketing program generally has budgeted expenses tied to it. • A marketing program generally has a concrete and measurable outcome in sales units and value. (Marketing programs don’t have to be media related. For example, conducting customer needs assessment training for sales executives is a program.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4477
  • 48. KKeeyy ffaaccttoorrss iinnfflluueenncciinngg ddiirreeccttiioonn aanndd pprroommoottiioonnaall ((MMaarrccoomm)) mmiixx The mix of promotional activities is determined by seven central factors: 1. What are you trying to accomplish? 2. The target market analysis 3. The marketing budget 4. What's the competition doing? 5. Product? 6. Media cost? 7. Timing? (Your market analysis will suggest the best mix to reach the target audience. Your budget will determine the total amount you can or should be spending on marketing communications.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4488
  • 49. MMaarrkkeettiinngg pprrooggrraamm oobbjjeeccttiivveess • What are you trying to accomplish? – Generate sales – Increase market share – Improve brand image – Improve customer relations – Educate customers (These are some examples. You have to decide what your objectives are and then you can gear your communications towards reaching those objectives.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 4499
  • 50. CCoommppoonneennttss ooff pprroommoottiioonnaall mmiixx • Advertising • Sales Force (Personal Selling) • Sales Promotion (Internal & External) • Public Relations • Direct Marketing • Trade Shows and Exhibitions (Trade shows, Conferences and Exhibitions are considered part of Sales Promotion by some marketers and educators, are often broken out into a separate category because they are a primary tool in B-to-B marketing.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5500
  • 51. WWhhaatt iiss aa ccaammppaaiiggnn?? • A promotional program is integrated through a "campaign." • A "campaign" is a unified, organized group of programs and promotional messages that have one theme or central idea. • Within a "campaign," you integrate the use of the various promotional methods. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5511
  • 52. AAddvveerrttiissiinngg • Advertising is the creation and placement of paid messages to inform potential customers and solicit sales of your product. • It can be a more long term approach to increasing sales than direct marketing, sales promotion, or personal selling. • One-way communication vs. two-way of personal selling. • It can be effective for wide target markets or narrow niches. (Remember: The medium(s) you choose depends on creativity, budget, target market, message, cost and response desired.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5522
  • 53. SSaalleess ffoorrccee ((ppeerrssoonnaall sseelllliinngg)) • Still the primary method of generating leads, closing sales and servicing accounts. • Face-to-face selling is being supplemented and/or being replaced by telemarketing. • Key issues include: – Sales force training – Sales force automation – Provision of selling aids and materials – Sales force incentives and compensation ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5533
  • 54. SSaalleess pprroommoottiioonn • Supplements advertising, public relations and personal selling. • External Objective – Motivate customers to buy now • Internal Objective - motivate sales force to sell • Includes: sales contests, premiums, coupons, trading stamps, videotape presentations, POP displays, sampling, etc. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5544
  • 55. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5555
  • 56. PPuubblliicc RReellaattiioonnss • Public relations is what you get others to say about you. • It involves planting commercially significant news in the media. • It is a non-direct message about your company, product, project or event. • Because it appears written by others, it has great credibility. • The goal of PR is to positively influence the marketplace about your company and products. • Examples include: sponsoring trade events, speeches, white papers, newsletters, press releases. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5566
  • 57. DDiirreecctt MMaarrkkeettiinngg • Direct marketing uses direct mail or email media to generate immediate, measurable, trackable results. • It uses marketing databases to track responses and results at a customer level. • By using NAICS codes (formerly SIC), it allows the placement of messages with highly targeted market segments. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5577
  • 58. TTrraaddee sshhoowwss,, eevveennttss,, ccoonnffeerreenncceess • Really a subset of sales promotion • Still a significantly large part of marketing budgets and still an effective way to reach your target audience. • Reasons for participation: – Connect with key media players and editors – Evaluate competition – Talk with customers and prospects – Sell products ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5588
  • 59. SSaalleess CCoollllaatteerraall • Written material that represents and explains your product to potential customers. • Includes any printed material that helps close a sale: data sheets brochures, pamphlets, return cards, form letters, etc. • Big issue here is consistency - all materials should be integrated to have the same look and feel. • Examples: white papers, e-Books, brochures, videos, CDs, etc. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 5599
  • 60. AAddvveerrttiissiinngg && MMeeddiiaa In Marketing Communications ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6600
  • 61. AAddvveerrttiissiinngg ddeecciissiioonn pprroocceessss • Set specific advertising goals • Determine target audience • Establish budget • Develop message • Select the media type • Select the specific media vehicles • Determine media calendar • Evaluate performance ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6611
  • 62. EElleemmeennttss ttoo ffooccuuss oonn wwhheenn sseelleeccttiinngg mmeeddiiaa • Advertising objectives • Media circulation • Media costs and budget • Type of message that you will be conveying • Timing ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6622
  • 63. TTyyppeess ooff aaddvveerrttiissiinngg • Broadcast: Radio, TV • Print: Newspapers, Magazines • Electronic: E-mail, Banner Ads, SMS Text, etc. • Supplements, Free Standing Inserts • Direct Mail • Coupon Packs, Card Decks • Directories • Telemarketing • Outdoor: Billboards, Kiosks, Transit (Remember: These are the media mix components. They need to be selected on the basis of who you are trying to reach, what you are trying to accomplish and how much you have to do it with.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6633
  • 64. TThhee aaddvveerrttiissiinngg ppllaann aannsswweerrss tthheessee qquueessttiioonnss • The media plan should be designed to expose your product to the largest possible segment of your target market in the most effective, efficient way. Answer these questions when creating your media plan: – Who do you want to reach (Right target, Missed anyone)? – When do you want to reach them? – Where do you want to reach them? – How many of them do you want to reach? – How frequently do you want to reach them? – What media is best for reaching them? – At what cost do you want to reach them? – Are you spending enough in total and for each medium to be effective? ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6644
  • 65. MMeeddiiaa ssttrraatteeggiieess ttoo rreemmeemmbbeerr • Select media with high specific market penetration. • Schedule adequate frequency of advertisements to impact target market. • Position advertising in or near articles on industry, product reviews, appropriate editorials, high visibility areas such as front cover, center spread, above the fold, top of the email messages, etc. • Make use of special high-interest issues, programs, websites, etc. • Maximize ad life with frequent repetition…monthly, weekly, daily, in selected media. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6655
  • 66. MMaarrkkeettiinngg BBuuddggeett Developing your expense budget and revenue forecast ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6666
  • 67. BBuuddggeett ccoommppoonneennttss • There are three components to a marketing budget – Expenses – Transactions (Closes) – Revenues • Each has three tracking components – Plan – Actual – Variance ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6677
  • 68. MMaarrkkeettiinngg bbuuddggeett –– mmoorree tthhaann jjuusstt aaddvveerrttiissiinngg eexxppeennssee • Direct selling costs (salaries, commissions, travel, entertainment) • Indirect selling costs (training, selling aides, subscriptions, dues) • Advertising (print, direct mail, electronic) • Sales promotion (trade shows, premiums, gifts, incentives) • Public relations • Marketing administration (These are items typically include in the budget, but it is not a complete list.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6688
  • 69. SSeevveerraall wwaayyss ttoo bbuuiilldd aa bbuuddggeett • From programs, work forward to projected leads, closes and generated revenues. • From revenues, work backwards to average transaction values, to closes, to leads and programs to generate them. (The preferred method is to start with revenues and work backwards. However, the first method is often used when you have prior experience with expected response and conversion rates.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 6699
  • 70. BBuuiillddiinngg bbuuddggeett iiss aa 44--sstteepp pprroocceessss The process of building a budget follows these steps: 1. Calculate transaction value & transactions 2. Calculate lead generation requirements 3. Determine lead generation tactics 4. Plan programs (This method of developing budgets works whether you are talking about the entire budget or a piece of it.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7700
  • 71. SStteepp 11:: CCaallccuullaattiinngg ttrraannssaaccttiioonn vvaalluueess aanndd ttrraannssaaccttiioonnss • Revenues by product or product category • Most complicated • Requires rolling up a product mix and then customer mix calculation • Revenues by customer • Good starting point for developing overall budget especially if programs and offers are not defined. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7711
  • 72. SStteepp 22:: CCaallccuullaattiinngg lleeaadd rreeqquuiirreemmeennttss • Straight forward mathematical calculation • Start with revenue objectives - work backwards • Based on inquiry to lead conversion rates • General B-to-B formula • Leads, Prospects, Hot Prospects, Closes ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7722
  • 73. SStteepp 33:: DDeetteerrmmiinnee lleeaadd ggeenneerraattiioonn ttaaccttiiccss • Where are the leads going to come from? • Trade shows, Outbound telemarketing, Sales force, Business partners, Direct response, etc.? • Existing customers, new customers? • This is the most important step in the process and the basis on which you allocate your promotional budget. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7733
  • 74. SStteepp 44:: DDeetteerrmmiinnee pprrooggrraammss • What, how, where and when? • Expenses associated? • Revenues associated? (This is the final step in developing the budget and the most detailed level.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7744
  • 75. PPuulllliinngg iitt aallll ttooggeetthheerr The Written Marketing Plan ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7755
  • 76. YYoouurr mmaarrkkeettiinngg ppllaann sshhoouulldd iinncclluuddee • Target Market and segment strategies • Who, how many, where ... • The message • The offering • Segment Tactics • Where, how, when to send the message • Ads vs. PR vs. mail, etc. ... • Specific Programs • Budgets, milestones, managers, content, media specifics, etc. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7766
  • 77. MMaarrkkeettiinngg ppllaann oouuttlliinnee 1. Executive Summary 2. SWOT analysis & Marketing Objectives 3. Target Market Identification/Analysis 4. Marketing Plan (Strategies, tactics and programs) 5. Financials - Expense Budget, Lead Generation & Sales Forecast 6. Organizational plan 7. Critical Issues ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7777
  • 78. EExxeeccuuttiivvee ssuummmmaarryy aanndd oobbjjeeccttiivveess • Summarize market strategy. • Include highlights of expense budget and lead and sales forecasts. • State quantifiable and measurable marketing objectives. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7788
  • 79. TTaarrggeett mmaarrkkeett iiddeennttiiffiiccaattiioonn aanndd aannaayyllssiiss • Summary • Market definition and segmentation • Segment strategy • Segment analysis – Demographics – Needs and requirements – Distribution channels – Competitive forces – Communications • Keys to success (Remember: This section is repeated for each identified target market.) ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 7799
  • 80. MMaarrkkeettiinngg ppllaannss • Summary • Marketing plan matrix • Marketing strategies review • Marketing tactics review • Marketing programs review ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8800
  • 81. FFiinnaanncciiaall ssuummmmaarryy • Include summary and detailed analysis of expense budget, lead generation forecasts and sales forecast. • By program type • By product • By market • By manager ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8811
  • 82. FFiinnaanncciiaall ssuummmmaarryy ((ccoonntt’’dd)) • Expenses – Explain why the budget falls into different types of expenditures. Which are most important, and why. – Explain why and how the budget is allocated to the different product lines. Make sure it matches your strategic focus. – Show how budget allocations follow your strategy emphasis in certain market segments. Do you have strategic alignment? – Explain how the budget is managed and by whom. • Revenues – Use introductory paragraph to summarize the key elements of the sales forecast. Highlight the products, markets, or managers expected to produce highest sales or highest sales growth. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8822
  • 83. OOrrggaanniizzaattiioonnaall ppllaann • Cover organizational structure required to meet objectives. • Identify personnel and training requirements. • Cover related expense budgets and sales quotas. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8833
  • 84. CCrriittiiccaall iissssuueess • Discuss critical issues which have a direct impact on achieving the objectives in the plan. • List action points. • Summarizes any risks. • Request additional resources. • Summarize conclusions. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8844
  • 85. KKeeyyss ttoo aa bbeetttteerr mmaarrkkeettiinngg ppllaann • Should be practical, concrete. • Contain concrete programs with measurable objectives. • Should assign tasks to people or departments with milestones and deadlines for tracking implementation. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8855
  • 86. IImmpplleemmeennttaattiioonn Managing and Tracking Your Marketing Plan ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8866
  • 87. TThhee ggooaall ooff ppllaannnniinngg iiss iimmpplleemmeennttaattiioonn • A plan is as good as implementation. • Most important element in implementing a plan is following up on it's built-in steps. • Following up and tracking plan vs. actual results is crucial to the success. • Another essential element is having all marketing activities or tools responsibilities clearly assigned. • A useful marketing plan must be a live plan. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8877
  • 88. IImmpplleemmeennttaattiioonn • Keys to implementation – Is the plan simple? – Is the plan specific? – Is the plan realistic? – Is the plan complete? • Key factors that will determine the level of implementation – Realism – Ownership – Tracking and follow-through ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8888
  • 89. TThhiinnggss ttoo RReemmeemmbbeerr ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 8899
  • 90. TThhee mmaarrkkeettiinngg ppllaann ppyyrraammiidd ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 9900
  • 91. MMaarrkkeettiinngg ppllaann ppyyrraammiidd • At the top of the pyramid are the marketing objectives. • Next are the strategies, which include: markets, needs, offering, etc. • Then come the tactics, which include: messages, media, channels, etc. • And finally come the programs, which include: advertising, direct mail, brochures, displays, seminars, trade shows, promotions, press releases, etc. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 9911
  • 92. TTaaccttiiccss aanndd pprrooggrraammss ccaann ssuuppppoorrtt mmoorree tthhaann oonnee sseeggmmeenntt (Remember: Tactics and programs can support the marketing strategies for more than one target market segment. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 9922
  • 93. RReemmeemmbbeerr • The target market defines the market need and product or service offering. • Focus on markets and niches: – Marketing strategies need to focus on market segments and niches within those segments, not products. • Strategy: – A well-implemented, mediocre strategy is better than a brilliant strategy not implemented. • Implementation: – A plan won't be implemented unless specific responsibilities are assigned to specific people... – Milestones are established and agreed upon... – And the people responsible know that someone will follow-up to check on results. ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 9933
  • 94. SSuummmmaarryy:: wwhhaatt wwee hhaavvee ccoovveerreedd • Marketing as a Concept • The Market Planning Process • The Role of Marketing Communications • Developing Marketing Budgets and Forecasts • Format of the Marketing Plan ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 9944
  • 95. NNooww yyoouu’’rree rreeaaddyy ttoo mmaakkee tthhee ddiivvee iinnttoo tthhee mmaarrkkeett ppllaannnniinngg pprroocceessss ((665511)) 331155--77558888 MMaarrkkeettiinngg PPllaannnniinngg 110011 WWoorrkksshhoopp 9955