Chapter no: 06           By Ms. Paras Channar (Lecturer IBA)4/9/2013                                         1
    Marketing Plan.    Benefits to Construction Marketing Plan.    Conducting SWOT Analysis.    Unique Selling Proposi...
    Marketing plan may be part of overall     business plan. marketing plan section explain     how you’re going to get y...
    Mapping a road to success gives you and your     employees a comprehensive guide for how your     business can grow. ...
    A SWOT analysis helps you to gain a clear picture of     your business from a standpoint of 4 different angles,     e...
 The unique selling proposition (USP) concept  was created by America advertising executive  Rosser reeves. He summarized...
    The pricing strategy portion of the marketing plan     involves determining how you will price your product     or se...
    Remember, the primary goal of the marketing plan is     to get people to buy your products or services. The     sales...
    Outline the transaction process between your business     and your customers.         what system will be used for p...
    Essentially the advertising and promotion section of the marketing plan     describe how you’re going to deliver your...
Marketing       Assessment      Customer      Needs                     Differentiated      External       Market Strategy...
4/9/2013   12
Component of the plan                 DescriptionMission statement                     A meaningful statement of the purpo...
    Understand The Purpose Of A Marketing     Plan.    List Advantages and Disadvantages.    Develop An Effective Marke...
 Identify strategies for conducting market  research Identify advantages of market research Understand What The Marketi...
    Advantages of developing a marketing plan:          identifies needs and wants of consumers          determines dem...
    The key element of a successful marketing plan is to "know your     customers", their likes, dislikes, and expectatio...
4/9/2013   18
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Chapter no 6 of BPP By Aamir Mugheri

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Chapter no 6 of BPP By Aamir Mugheri

  1. 1. Chapter no: 06 By Ms. Paras Channar (Lecturer IBA)4/9/2013 1
  2. 2.  Marketing Plan. Benefits to Construction Marketing Plan. Conducting SWOT Analysis. Unique Selling Proposition Marketing Plan Process. Tips to write Marketing Plan4/9/2013 2
  3. 3.  Marketing plan may be part of overall business plan. marketing plan section explain how you’re going to get your customer to buy your products and services.4/9/2013 3
  4. 4.  Mapping a road to success gives you and your employees a comprehensive guide for how your business can grow. This allows you to predict upcoming challenges and adjust accordingly. A marketing plan provides reference or any major changes within your company. Marketing plans give insight to your customers, target market, profitability, and strategic analysis.  Roadmap to success  Reference for employees and owners  Financial goals analysis  Marketing tactics.4/9/2013 4
  5. 5.  A SWOT analysis helps you to gain a clear picture of your business from a standpoint of 4 different angles, each of which can be improved upon. Your business’ current condition should be directed related to the current economic state and market conditions. Although your marketing plan will have many detailed pages that outline the marketing conditions and marketing plan for your business, I am not going to go into each section. Instead, I have provided a sample marketing plan that can be edited and used as a template for creating a simple plan for your business.4/9/2013 5
  6. 6.  The unique selling proposition (USP) concept was created by America advertising executive Rosser reeves. He summarized in one short sentence, ”why buy instead of the others?” In detail USP is what set your product and services apart from your competitors. The catch is that the proposition must offer your potential customers a specific benefit that they see as attractive. It focus on; Pricing strategy Sales/ distribution plan Advertising and promotion plan4/9/2013 6
  7. 7.  The pricing strategy portion of the marketing plan involves determining how you will price your product or services; the price you charge has to be competitive but still allow you to make a reasonable profit. You set the pricing through a process of calculating costs, estimating the benefits to consumers, and comparing your product, services, and prices to others that are similar. Important Question;  How do you know what price to charge?  What kind of ROI return on investment are you expecting with this pricing strategy, and within what time frame?4/9/2013 7
  8. 8.  Remember, the primary goal of the marketing plan is to get people to buy your products or services. The sales and distribution part of the marketing plan. Outline the distribution methods to be used like;  How is your product or services going to get to the customer?  What distribution channel is going to be used?  What are the costs associated with distribution?  What minimum inventory levels must be maintained to ensure that there is no loss of sales due to problem such as late shipments and back orders?4/9/2013 8
  9. 9.  Outline the transaction process between your business and your customers.  what system will be used for processing orders, shipping and billing.  is there a system for customer feedback so customer satisfaction can be tracked and addressed? If it’s applicable to your business, outline your sales strategy.  What types of salespeople will be involved (Commissioned salespeople, product demonstrators, telephone solicitors etc)?  Describe the incentives salespeople will be offered to encourage their achievements (such as getting new accounts, the most orders, etc)4/9/2013 9
  10. 10.  Essentially the advertising and promotion section of the marketing plan describe how you’re going to deliver your unique selling proposition to your prospective customers. Advertising the key approach to advertising is to think of it in terms of media and which media will be most effective in reaching your target market. What percentage of your annual advertising budget will you invest in each of the following:  The internet  Television  Radio  Newspapers  Magazines  Billboards  Direct mail  Cooperative advertising with wholesales, retailers, or other businesses?4/9/2013 10
  11. 11. Marketing Assessment Customer Needs Differentiated External Market Strategy Environment Marketing Plan Development Competitive Analysis Communication & Implementation Positioning Tracking Result4/9/2013 11
  12. 12. 4/9/2013 12
  13. 13. Component of the plan DescriptionMission statement A meaningful statement of the purpose and direction of the businessCorporate objectives The overall business objectives that shape the marketing planMarketing audit The way the information for marketing planning is organised. Assesses the situation of marketing in the business – the products, resources, distribution methods, market shares, competitors etcMarket analysis The markets the business is in (and targeting) – size , structure, growth etcSWOT analysis An assessment of the firm’s current position, showing the strengths & weaknesses (internal factors) and opportunities and threats (external factors)Marketing objectives and strategies What the marketing function wants to achieve (consistent with corporate objectives) and how it intends to do it (e.g. Ansoff, Porter)Marketing budget Usually a detailed budget for the next year and an outline budget for the next 2-3 yearsAction plan 4/9/2013 The detailed implementation plan 13
  14. 14.  Understand The Purpose Of A Marketing Plan. List Advantages and Disadvantages. Develop An Effective Marketing Strategy4/9/2013 14
  15. 15.  Identify strategies for conducting market research Identify advantages of market research Understand What The Marketing Plan Contains Target market Competition Product Marketing budget Location Pricing strategy Promotional strategy4/9/2013 15
  16. 16.  Advantages of developing a marketing plan:  identifies needs and wants of consumers  determines demand for product  aids in design of products that fulfill consumers needs  outlines measures for generating the cash for daily operation, to repay debts and to turn a profit  identifies competitors and analyzes your products or firms competitive advantage  identifies new product areas  identifies new and/or potential customers  allows for test to see if strategies are giving the desired results Disadvantages of developing a marketing plan.  identifies weaknesses in your business skills  leads to faulty marketing decisions based on improperly analyzed data  creates unrealistic financial projections if information is interpreted incorrectly  identifies weaknesses in your overall business plan4/9/2013 16
  17. 17.  The key element of a successful marketing plan is to "know your customers", their likes, dislikes, and expectations. You must also know your competition (or similar inventions) and their strengths and weaknesses. By identifying these factors, you can develop a marketing strategy that will allow you to arouse and fulfill customers needs, better understand competitors and identify changes in the marketplace. The purpose of the marketing plan is to define your market, identify your customers and competitors, outline a strategy for attracting and keeping customers, and to identify and anticipate change. Again, even if you do not wish to market your own product having the above knowledge will impress both potential licensees and manufacturers.4/9/2013 17
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