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How to Write a Killer Marketing Plan e-Society Seminar March 11, 2010 Dr. Michael Merz Department of Marketing & Decision Sciences College of Business San Jose State University
Today’s Agenda ,[object Object],[object Object]
What is a Marketing Plan? Why is it important?
Marketing Plan and Its Importance ,[object Object],[object Object],[object Object],[object Object]
How to Write a Marketing Plan?
Guidelines for Writing a  Marketing Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Guidelines for Writing a  Marketing Plan Section Description I. Executive Summary II. Current Marketing Situation IV. Objectives and Issues V. Marketing Strategy VI. Marketing Programs VII. Financial Plans VIII. Implementation Controls ,[object Object],[object Object],Summarizes environmental trends affecting the new venture and provides SWOT analysis. Outlines the specific marketing objectives and identifies issues that may affect the new venture’s attainment of these objectives. ,[object Object],[object Object],Lays out the program supporting the marketing strategy, including specific activities, schedules, and responsibilities for 4 P’s. Details expected revenues, expenses, and profits based on the marketing programs in the plan. Indicates how progress toward objectives will be measured and how adjustments will be made to keep programs on track. III. Environmental Analysis Describes the current situation, product, market, environment, and competition.
I. The Executive Summary
Executive Summary Guerrilla Marketing Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Levinson (2007), Guerilla Marketing
Executive Summary Guerrilla Marketing Plan – Example The  purpose  of Prosper Press is to sell the maximum number of books at the lowest possible selling cost per book.  This will be  accomplished  by positioning the books as being so valuable to free-lancers that they are guaranteed to be worth more to the reader than their selling price.  The  target market  will be people who can or do engage in free-lance earning activities.  Marketing tools  to be utilized will be a combination of classified advertising in magazines and newspapers, direct mail, sales at seminars, publicity in newspapers and on radio and television, direct sales calls to bookstores, and mail-order display ads in magazines.  The  niche  to be occupied is one that stands valuable information that helps free-lancers succeed, the ultimate authority for free-lancers.  Our  identity  will be one of expertise, readability, and quick response to customer requests.  Thirty percent of sales will be  allocated  to marketing.
II. Current Marketing Situation
Product Overview ,[object Object],[object Object],[object Object],[object Object],[object Object]
Window of Opportunity “ Window of opportunity ” is a metaphor describing the time period in which a firm can realistically enter a new market. Time Market Size t(0) t(1) Window of Opportunity t(1) – t(0)
Market Overview Feasibility Analysis has four components. - Concept Test Results - Usability Test Results ,[object Object],[object Object],[object Object]
III. Environmental Analysis
Environmental Analysis ,[object Object],[object Object],[object Object],[object Object],[object Object]
Environmental Analysis The 5 C’s Context Company Core Competencies Customer Unmet Needs Competition Competitive Advantage Collaborators Shared Interests Target Market Assess the Situation
SWOT Analysis ,[object Object],[object Object],[object Object],[object Object],[object Object]
IV. Objectives and Issues
Objectives versus Goals ,[object Object],[object Object],[object Object],[object Object]
There are Three Types of Objectives in Marketing Plans ,[object Object],[object Object],[object Object]
Keys to Effective Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object]
V. Marketing Strategy
Mission (Statement) ,[object Object],[object Object],[object Object]
Mission Example In 2002 Microsoft’s mission was  "To empower people through great software -- any time, any place, and on any device.” The mission statement now reads,  "At Microsoft, we work to help people and businesses throughout the world realize their full potential.”
Three-Step Process of Target Marketing ,[object Object],[object Object]
Segmentation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Target Marketing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Target Marketing Market Coverage Strategies Entrepreneurs may only consider two segments: the niche they are targeting and “everyone else”.
Positioning  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Positioning by Name or Slogan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Positioning by Features vs. Benefits ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How might a surgeon explain a new surgical procedure to a patient lying in a hospital bed, if only technical features (rather than benefits) were explained? “ Have I got an operation for you. Only three incisions and an Anderson Slash, a Ridgeway stubble-side fillip, and a standard dormer slip! Only five minutes with a scalpel; only thirty stitches! We can take out up to five pounds of your insides, have you back in your hospital bed in 75 minutes flat, and we can do ten of them in a day”. (McMath and Forbes (April 1998) in Entrepreneur, pp. 135-139)
VI. Marketing Programs
The Marketing Mix Assess the Situation (5 C’s) Target Market Select  Target Market Define Marketing Mix (4P’s) Product Price Promotion Place
Three Levels of Product Additional benefits and services built around the core benefit and actual product
Product ,[object Object],[object Object],[object Object],[object Object],[object Object]
Price Product’s Cost Product’s Perceived Value Penetration Pricing Skim Pricing Competitors Prices Feasible Price Range
Price ,[object Object],[object Object],[object Object],[object Object]
Promotion ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Promotion Promotion Tool Use Advertising Efficiently get messages to large audience. Sales Promotion Stimulate immediate purchase, reward repeat purchases, motivate sales personnel. Public Relations Build positive image, strengthen ties with stakeholders. Direct Marketing Reach targeted audiences, encourage direct response. Personal Selling Reach customers one-to-one to make sales, strengthen relationships.
Place ,[object Object],[object Object],[object Object],[object Object]
Place  Distribution Channels
VII. Financial Plans
Financial Plans ,[object Object],[object Object],[object Object],[object Object]
VIII. Implementation Controls
Measuring what Matters ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Identifying Metrics ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Sample Marketing Metrics Objective Metric To acquire new customers. Measure number or percentage of new customers acquired by month, quarter, year. To retain current customers. Measure number or percentage of customers who continue purchasing during a set period. To increase market share. Measure dollar or unit sales divided by total industry sales during a set period. To accelerate product development Measure the time needed to bring a new product to market.
Sample Financial Metrics Objective Metric To increase sales revenue by product. Measure product sales in dollars per week, month, quarter, or year. To improve profitability. Measure gross or net margin for a set period by product, line, channel, marketing program, or customer. To reach break-even. Measure the number of weeks or months until a product’s revenue equals and begins to exceed costs.
Sample Societal Metrics Objective Metric To make products more environmentally friendly. Measure the proportion of each product’s parts that are recyclable or have been recycled during a set period. To build awareness of a social issue. Measure awareness among the target audience after the program or a set period. To conserve electricity or fuel. Measure amount used by month, quarter, year.
Sample Behavioral Metrics Behavior Metric Customer Awareness Customer awareness per telephone survey.  Customer Learning Number of information packets requested, number of hits to a website. Customer Attitudes Customer attitudes per telephone study, feedback on blogs, customer letters.
Contingency Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Thank you! Now, follow your dreams! Q & A

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How To Write A Killer Marketing Plan

  • 1. How to Write a Killer Marketing Plan e-Society Seminar March 11, 2010 Dr. Michael Merz Department of Marketing & Decision Sciences College of Business San Jose State University
  • 2.
  • 3. What is a Marketing Plan? Why is it important?
  • 4.
  • 5. How to Write a Marketing Plan?
  • 6.
  • 7.
  • 9.
  • 10. Executive Summary Guerrilla Marketing Plan – Example The purpose of Prosper Press is to sell the maximum number of books at the lowest possible selling cost per book. This will be accomplished by positioning the books as being so valuable to free-lancers that they are guaranteed to be worth more to the reader than their selling price. The target market will be people who can or do engage in free-lance earning activities. Marketing tools to be utilized will be a combination of classified advertising in magazines and newspapers, direct mail, sales at seminars, publicity in newspapers and on radio and television, direct sales calls to bookstores, and mail-order display ads in magazines. The niche to be occupied is one that stands valuable information that helps free-lancers succeed, the ultimate authority for free-lancers. Our identity will be one of expertise, readability, and quick response to customer requests. Thirty percent of sales will be allocated to marketing.
  • 12.
  • 13. Window of Opportunity “ Window of opportunity ” is a metaphor describing the time period in which a firm can realistically enter a new market. Time Market Size t(0) t(1) Window of Opportunity t(1) – t(0)
  • 14.
  • 16.
  • 17. Environmental Analysis The 5 C’s Context Company Core Competencies Customer Unmet Needs Competition Competitive Advantage Collaborators Shared Interests Target Market Assess the Situation
  • 18.
  • 20.
  • 21.
  • 22.
  • 24.
  • 25. Mission Example In 2002 Microsoft’s mission was "To empower people through great software -- any time, any place, and on any device.” The mission statement now reads, "At Microsoft, we work to help people and businesses throughout the world realize their full potential.”
  • 26.
  • 27.
  • 28.
  • 29. Target Marketing Market Coverage Strategies Entrepreneurs may only consider two segments: the niche they are targeting and “everyone else”.
  • 30.
  • 31.
  • 32.
  • 33. How might a surgeon explain a new surgical procedure to a patient lying in a hospital bed, if only technical features (rather than benefits) were explained? “ Have I got an operation for you. Only three incisions and an Anderson Slash, a Ridgeway stubble-side fillip, and a standard dormer slip! Only five minutes with a scalpel; only thirty stitches! We can take out up to five pounds of your insides, have you back in your hospital bed in 75 minutes flat, and we can do ten of them in a day”. (McMath and Forbes (April 1998) in Entrepreneur, pp. 135-139)
  • 35. The Marketing Mix Assess the Situation (5 C’s) Target Market Select Target Market Define Marketing Mix (4P’s) Product Price Promotion Place
  • 36. Three Levels of Product Additional benefits and services built around the core benefit and actual product
  • 37.
  • 38. Price Product’s Cost Product’s Perceived Value Penetration Pricing Skim Pricing Competitors Prices Feasible Price Range
  • 39.
  • 40.
  • 41. Promotion Promotion Tool Use Advertising Efficiently get messages to large audience. Sales Promotion Stimulate immediate purchase, reward repeat purchases, motivate sales personnel. Public Relations Build positive image, strengthen ties with stakeholders. Direct Marketing Reach targeted audiences, encourage direct response. Personal Selling Reach customers one-to-one to make sales, strengthen relationships.
  • 42.
  • 43. Place Distribution Channels
  • 45.
  • 47.
  • 48.
  • 49. Sample Marketing Metrics Objective Metric To acquire new customers. Measure number or percentage of new customers acquired by month, quarter, year. To retain current customers. Measure number or percentage of customers who continue purchasing during a set period. To increase market share. Measure dollar or unit sales divided by total industry sales during a set period. To accelerate product development Measure the time needed to bring a new product to market.
  • 50. Sample Financial Metrics Objective Metric To increase sales revenue by product. Measure product sales in dollars per week, month, quarter, or year. To improve profitability. Measure gross or net margin for a set period by product, line, channel, marketing program, or customer. To reach break-even. Measure the number of weeks or months until a product’s revenue equals and begins to exceed costs.
  • 51. Sample Societal Metrics Objective Metric To make products more environmentally friendly. Measure the proportion of each product’s parts that are recyclable or have been recycled during a set period. To build awareness of a social issue. Measure awareness among the target audience after the program or a set period. To conserve electricity or fuel. Measure amount used by month, quarter, year.
  • 52. Sample Behavioral Metrics Behavior Metric Customer Awareness Customer awareness per telephone survey. Customer Learning Number of information packets requested, number of hits to a website. Customer Attitudes Customer attitudes per telephone study, feedback on blogs, customer letters.
  • 53.
  • 54. Thank you! Now, follow your dreams! Q & A