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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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  • 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.
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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 Marketing Planning Workshop Presentation Transcript

  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 11 Marketing Planning 101Marketing Planning 101 WorkshopWorkshop Creating a Winning Marketing Plan …The Fundamentals & More © 2014 DWS Associates. All Rights Reserved
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 22 Table of ContentsTable of Contents • Overview of Marketing • Market Planning Process • Marketing Communications • Marketing Budgets and Forecasts • Writing the Marketing Plan
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 33 IntroductionIntroduction • "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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 44 Workshop ObjectivesWorkshop Objectives • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 55 What you will learnWhat you will learn • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 66 Workshop goal:Workshop goal: to make you a marketing guruto make you a marketing guru
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 77 Marketing Is KnowingMarketing Is Knowing
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 88 What the prospect is thinking…What the prospect is thinking… • 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?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 99 What is Marketing?What is Marketing? • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1010 How do sales and marketing differ?How do sales and marketing differ? • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1111 A marketing plan does the followingA marketing plan does the following • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1212 Why have a marketing plan?Why have a marketing plan? • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1313 Marketing success depends on…Marketing success depends on… • Having more knowledge about your customers and prospects than your competition. • Having a well thought out, actionable plan.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1414 Why have a marketing plan?Why have a marketing plan? 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1515 The Market Planning ProcessThe Market Planning Process
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1616 Marketing management processMarketing management process
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1717 Steps in processSteps in process • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1818 Steps in process (cont’d)Steps in process (cont’d) • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 1919 Analysis & SegmentationAnalysis & Segmentation Identifying Your Target Markets
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2020 Define your target customersDefine your target customers
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2121 Lots of ways to slice and dice a marketLots of ways to slice and dice a market • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2222 Setting target marketsSetting target markets • 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?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2323 Market analysis – key componentsMarket analysis – key components • Market segment definition • Company analysis • Needs and requirements • Distribution channels • Competitive forces • Communications • Keys to success
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2424 Market segmentation definitionMarket segmentation definition • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2525 Company analysisCompany analysis • What are your strengths? • What are your weaknesses? • What are your company's objectives as they relate to this target market?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2626 Market needs and requirementsMarket needs and requirements • Why do they need your product or service? • What is going to make them buy?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2727 Distribution channelsDistribution channels • 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?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2828 Competitive forcesCompetitive forces • 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.?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 2929 CommunicationsCommunications • 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?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3030 Keys to successKeys to success • 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...?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3131 Developing your marketingDeveloping your marketing strategies and tacticsstrategies and tactics
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3232 Strategies & TacticsStrategies & Tactics Strategies Strategies Tactics Theoretical Descriptive General Broad Set of Guidelines Operational An Execution Specific Detailed Implementation
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3333 Differentiating strategies and tacticsDifferentiating strategies and tactics • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3434 Marketing matrixMarketing matrix
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3535 Strategies begin with market focusStrategies begin with market focus • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3636 Positioning a product answers thesePositioning a product answers these questionsquestions • 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?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3737 Developing segment specific strategiesDeveloping segment specific strategies • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3838 Remember…you can’t be all things toRemember…you can’t be all things to all peopleall people • 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).
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 3939 Developing segment specific strategiesDeveloping segment specific strategies • 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?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4040 Example: any company “XYZ” inExample: any company “XYZ” in manufacturingmanufacturing • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4141 Marketing matrixMarketing matrix
  • Marketing CommunicationsMarketing Communications Developing Your Marketing Programs (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4242
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4343 What is a marketing program?What is a marketing program? • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4444 Key factors influencing direction andKey factors influencing direction and promotional (Marcom) mixpromotional (Marcom) mix 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?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4545 Marketing program objectivesMarketing program objectives • What are you trying to accomplish? – Generate sales – Increase market share – Improve brand image – Improve customer relations – Educate customers
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4646 Components of promotional mixComponents of promotional mix • Advertising • Sales Force (Personal Selling) • Sales Promotion (Internal & External) • Public Relations • Direct Marketing • Trade Shows and Exhibitions
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4747 What is a campaign?What is a campaign? • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4848 AdvertisingAdvertising • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 4949 Sales force (personal selling)Sales force (personal selling) • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5050 Sales promotionSales promotion • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5151 Sales promotion elementsSales promotion elements
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5252 Public RelationsPublic Relations • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5353 Direct MarketingDirect Marketing • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5454 Trade ShowsTrade Shows • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5555 Sales CollateralSales Collateral • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5656 Advertising & MediaAdvertising & Media In Marketing Communications
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5757 Advertising decision processAdvertising decision process • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5858 Elements to focus on when selectingElements to focus on when selecting mediamedia • Advertising objectives • Media circulation • Media costs and budget • Type of message that you will be conveying • Timing
  • Types of advertisingTypes of advertising • 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 (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 5959
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6060 The advertising plan answers theseThe advertising plan answers these questionsquestions • Who? • When? • Where? • How many? • How frequently? • What media? • At what costs?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6161 Media strategies to rememberMedia strategies to remember • 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.
  • Marketing BudgetMarketing Budget Developing your expense budget and revenue forecast (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6262
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6363 Budget componentsBudget components • There are three components to a marketing budget – Expenses – Transactions (Closes) – Revenues • Each has three tracking components – Plan – Actual – Variance
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6464 Marketing budget – more than justMarketing budget – more than just advertising expenseadvertising expense • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6565 Several ways to build a budgetSeveral ways to build a budget • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6666 Building budget is a 4-step processBuilding budget is a 4-step process 1. Calculate transaction value & transactions 2. Calculate lead generation requirements 3. Determine lead generation tactics 4. Plan programs
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6767 Step 1: Calculating transaction valuesStep 1: Calculating transaction values and transactionsand transactions • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6868 Step 2: Calculating lead requirementsStep 2: Calculating lead requirements • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 6969 Step 3: Determine lead generationStep 3: Determine lead generation tacticstactics • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7070 Step 4: Determine programsStep 4: Determine programs • What, how, where and when? • Expenses associated? • Revenues associated?
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7171 Pulling it all togetherPulling it all together The Written Marketing Plan
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7272 Your marketing plan should includeYour marketing plan should include • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7373 Marketing plan outlineMarketing plan outline 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7474 Executive summary and objectivesExecutive summary and objectives • Summarize market strategy. • Include highlights of expense budget and lead and sales forecasts. • State quantifiable and measurable marketing objectives.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7575 Target market identification andTarget market identification and anaylsisanaylsis • Summary • Market definition and segmentation • Segment strategy • Segment analysis – Demographics – Needs and requirements – Distribution channels – Competitive forces – Communications • Keys to success
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7676 Marketing plansMarketing plans • Summary • Marketing plan matrix • Marketing strategies review • Marketing tactics review • Marketing programs review
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7777 Financial summaryFinancial summary • Include summary and detailed analysis of expense budget, lead generation forecasts and sales forecast. • By program type • By product • By market • By manager
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7878 Organizational planOrganizational plan • Cover organizational structure required to meet objectives. • Identify personnel and training requirements. • Cover related expense budgets and sales quotas.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 7979 Critical issuesCritical issues • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8080 Keys to a better marketing planKeys to a better marketing plan • Should be practical, concrete. • Contain concrete programs with measurable objectives. • Should assign tasks to people or departments with milestones and deadlines for tracking implementation.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8181 ImplementationImplementation Managing and Tracking Your Marketing Plan
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8282 The goal of planning is implementationThe goal of planning is implementation • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8383 ImplementationImplementation • 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
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8484 Things to RememberThings to Remember
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8585 The marketing plan pyramidThe marketing plan pyramid
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8686 Tactics and programs can supportTactics and programs can support more than one segmentmore than one segment
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8787 RememberRemember • 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.
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8888 Summary: what we have coveredSummary: what we have covered • Marketing as a Concept • The Market Planning Process • The Role of Marketing Communications • Developing Marketing Budgets and Forecasts • Format of the Marketing Plan
  • (651) 315-7588(651) 315-7588 Marketing Planning 101 WorkshopMarketing Planning 101 Workshop 8989 Now you’re ready to make the dive intoNow you’re ready to make the dive into the market planning processthe market planning process