Treat your final plan as if you are submitting it to, or in, your real company…everything counts:
Layout
Spelling
Clear sentences
Original thinking
Correct citations if needed.
For your Final Marketing Plan, use these exact headers, and write the answers below it.
Headers
Company Name
Marketing Management Plan Purpose
Company Vision (Customer Pain Point)
Brand Story
Marketing Values
Customer Segments
Target Market
Product/Service Position
Marketing Messaging
Marketing Media
Marketing Mix
Key Marketing Decisions
Marketing Metrics
Customer Needs Recognition
Market Analysis
Customer Marketing Assumptions
Product Lifecycle
Market Disruption (Crossing the Chasm)
Integrated Marketing Campaign
Marketing Services
Global Marketing
Detailed Description
COMPANY NAME
Write down the name of your company.
MARKETING MANAGEMENT PLAN PURPOSE
Describe who your Marketing Management Plan is for, and what they will know that they didn't know before reading your Marketing Management Plan.
We will create a final template, and you will fill out a new part of the plan each week. At the end, you will submit the final copy of your complete plan.
COMPANY VISION
For this class, your vision in your customer pain point. We will talk about you when you define your brand, but for now, stick to customer pain identification.
Write down a first draft of your company vision. Your vision should be a short sentence or two that describes how the world will be different because your company exists. In other words, the impact on the world that you want to have with your company.
Vision = After You - Before You = Impact
Marketing: Company Brand Story
Write down your company brand story. Make it short and sweet...specifically:
What you do
Who you do it for
What makes you different
MARKETING: VALUES
Write down at least three values that your team should use as decision making tools.
What is most important to you in making decisions and in what order?
Imagine that you are writing down instructions for achieving the three top priorities of for your company. Now imagine that after writing your values, that you leave for three months. Will your employees do the right things to achieve your top values?
MARKET SEGMENTATION: CRITERIA
WRITE DOWN AT LEAST THREE CONSUMER GROUPS THAT YOU BELIEVE WILL BUY YOUR PRODUCT OR SERVICE AND SORT THEM IN GROUPS (SEGMENTS) BY
ONE OR MORE
OF THE FOLLOWING:
Where they are (location)
Who they are (demographics)
What they like (psychographics)
How they behave (Behavior)
You will prove one answer for each group. The answer will be based on one or more criteria.
MARKET SEGMENTATION: TARGETING
WRITE DOWN THE SEGMENT, THAT YOU WILL FOCUS ON FIRST (TARGET) AND WHY SUCH AS:
They will spend more money
They are easer to reach
You already have a media channel to them
They already show the biggest input
They are more likely to tell others
Other
MARKETING BRAND POSITIONING: MARKET POSITION
WRITE ...
1. Treat your final plan as if you are submitting it to, or in, your
real company…everything counts:
Layout
Spelling
Clear sentences
Original thinking
Correct citations if needed.
For your Final Marketing Plan, use these exact headers, and
write the answers below it.
Headers
Company Name
Marketing Management Plan Purpose
Company Vision (Customer Pain Point)
Brand Story
Marketing Values
Customer Segments
Target Market
2. Product/Service Position
Marketing Messaging
Marketing Media
Marketing Mix
Key Marketing Decisions
Marketing Metrics
Customer Needs Recognition
Market Analysis
Customer Marketing Assumptions
Product Lifecycle
Market Disruption (Crossing the Chasm)
Integrated Marketing Campaign
Marketing Services
Global Marketing
Detailed Description
COMPANY NAME
Write down the name of your company.
MARKETING MANAGEMENT PLAN PURPOSE
3. Describe who your Marketing Management Plan is for, and what
they will know that they didn't know before reading your
Marketing Management Plan.
We will create a final template, and you will fill out a new part
of the plan each week. At the end, you will submit the final
copy of your complete plan.
COMPANY VISION
For this class, your vision in your customer pain point. We will
talk about you when you define your brand, but for now, stick
to customer pain identification.
Write down a first draft of your company vision. Your vision
should be a short sentence or two that describes how the world
will be different because your company exists. In other words,
the impact on the world that you want to have with your
company.
Vision = After You - Before You = Impact
Marketing: Company Brand Story
Write down your company brand story. Make it short and
sweet...specifically:
What you do
Who you do it for
What makes you different
4. MARKETING: VALUES
Write down at least three values that your team should use as
decision making tools.
What is most important to you in making decisions and in what
order?
Imagine that you are writing down instructions for achieving the
three top priorities of for your company. Now imagine that after
writing your values, that you leave for three months. Will your
employees do the right things to achieve your top values?
MARKET SEGMENTATION: CRITERIA
WRITE DOWN AT LEAST THREE CONSUMER GROUPS
THAT YOU BELIEVE WILL BUY YOUR PRODUCT OR
SERVICE AND SORT THEM IN GROUPS (SEGMENTS) BY
ONE OR MORE
OF THE FOLLOWING:
Where they are (location)
Who they are (demographics)
What they like (psychographics)
How they behave (Behavior)
You will prove one answer for each group. The answer will be
based on one or more criteria.
MARKET SEGMENTATION: TARGETING
5. WRITE DOWN THE SEGMENT, THAT YOU WILL FOCUS
ON FIRST (TARGET) AND WHY SUCH AS:
They will spend more money
They are easer to reach
You already have a media channel to them
They already show the biggest input
They are more likely to tell others
Other
MARKETING BRAND POSITIONING: MARKET POSITION
WRITE DOWN WHAT YOUR BRAND POSITION IS
RELATIVE TO YOUR COMPETITION. EX.
Easier
Faster
Cheaper
More reliable
Last Longer
Ex: We keep track of your customer and business interactions
like the SAP Enterprise Resource Planning System, only
6. without the high staff overhead to run and maintain it.
MARKETING: MESSAGE
Write down at least three most important messages to your
target market. Remember that your target market is motivated
by"
Fear
Guilt
Greed
Exclusivity
Social acceptance ("everyone in this group is doing it")
You can create your USP (Unique Selling Position) with this
template:
Narrowly defined positioning.
Meaningful specifics.
Guarantee
Examples:
§ “Fresh Hot Pizza Delivered in 30 Minutes or Less” –
Domino’s Pizza
7. “Where it absolutely, positively has to be there overnight” –
FedEx.
“We’re number two. We try harder.” Avis
“The milk chocolate melts in your mouth, not in your hand.” –
M&M
“A diamond is forever.” – De Beer’s
§ benefit that is a promise with meaningful specifics – with a
guarantee. If you define your USP narrowly, it will give you a
stronger appeal. Meaningful specifics mean that you specify the
benefit. Look at Domino’s example: They are not going to
deliver your pizza “sometime” but within 30 minutes. It has a
specific timeframe. They are taking two benefits that are what
clients hate about delivered pizza. They hate it when it’s cold,
and they hate it when it’s late.
You need to have meaningful specifics in your USP. The
meaning will be a benefit to your ideal customer, client or
patient.
The last part is a guarantee. If you can guarantee an
outcome that your ideal prospect will love, use that in your
USP.
MARKETING: MEDIA
Write down at least three media channels that are most
important to your target market and why. Examples include:
8. Blogs
Social Media (which social media specifically)
Trade Shows
Email
Magazines
TV Shows
Public Relations (getting others to talk about you...who and
where)
Email
Search Engine Marketing
Search Networks (Pay per Click)
Display Networks (Banner Ads)
Speaking Opportunities
Awards & Recognition
Sponsorships
Direct Mail
Content Marketing (video, articles, YouTube channels...)
Specify whether your choices are Owned Media, Paid Media, or
9. Earned Media
MARKETING: MARKETING MIX
Write down what is most important to your target market about
your marketing mix:
Product (Features, benefits, design...)
Price
Place (where and how they buy)
Promotion
increase awareness
create interest
generate sales
create brand loyalty (separate yourselves from others)
Planning: Marketing Decisions
For one of your marketing objectives write down three decisions
that as a manager you will have to make.
Ensure for your decision that you have widened your options as
described in the decisive video in the simCEO resources folder
(https://youtu.be/eY3ivHv7J7s).
Examples could include:
10. What is the best marketing media channel to reach our target
market?
How do I organize my marketing team most effectively to grow
our market the fastest.
What processes should we put in place to most effectively do
market analysis.
Planning: Marketing Metrics
As a manager, you will need to create metrics to measure
whether you will reach your goal.
Write down a one goal, one lag metric to achieve that goal, and
at least one LEAD metric. (the LEAD/LAG Measurement video
in the simCEO resources, https://youtu.be/Dwpak1IzYj8, might
help).
Example include:
Increase customer engagement
Lag measurement: # likes on Facebook
Lead measurement: number of company Facebook posts
Book more appointments
Lag measurement: #sales appointments booked
Lead Measurement: #leads on website.
11. Open new target market
Lag measurement: # of new people on our email list
Lead measurement: # of initial email sent to new people.
Customer Behavior: Needs Recognitions
Write down how your target market recognized that they have a
challenge that needs to be solved using your product or service
such as:
online dating is how you meet people
good parents give their children an advantage with pre-school
eye glasses cost too much
Ex.
They hear about the problem from a friend
They watch a talk show on TV
A celebrity tells them in a commercial
Social media leader
Hear it at school
Go to an event
12. Event happens to them
something breaks
Find out how hard it is to get something done when they try to
deal with a problem
Read article
Customer Behavior: Assumptions
Selling your product or service requires that you make
assumptions. Write down three assumptions that you are making
when you sell, or are going to sell your product or service.
Ex.
Customers will use a mobile app
Customers prefer buying using credit
Customers will buy more online than in a store
Customers will not buy without delivery included
Customers will pay more for higher quality
Marketing Research: Market Analysis
Write down a major question that you need answered using
research in order to plan your marketing, and before you make
customer assumptions.
13. Ex.
where does my target market live
where does my target market get its news from
How much will my customers pay for my product
What or who does my customers identify with when looking for
answers to problems
Product Planning: Product Life Cycle
Watch https://www.youtube.com/watch?v=5B3Mu8dqXlE, and
write down where in the product lifecycle, your product is.
If applicable, write down the most important thing that you need
to focus on to be ready for the next step.
Product Planning: Crossing the Chasm
Watch https://www.youtube.com/watch?v=Y-97AXOPzJo and,
if your company is launcing something that is new and
innovative that requires significant change for your customers,
write down whether your customer are:
Innovators
Early Adopters
Early Majority
14. Late Majority
Laggards
If applicable, write down the most important thing that you will
need to do to be ready for the next step.
Communications: Integrated Marketing Campaign
Marketing Managers think in terms of putting multiple pieces
together in a way that has a greater impact than the individual
pieces alone.
Watch https://www.youtube.com/watch?v=k6WF0O1Mnvk and
write down at least three components of an Integrated
Marketing Campaign. Your IMC can include components such
as:
Event (ex. tradeshow, conference, meetup, sports)
Online (ex. social media post, webinar that you could do, event
that you could live stream)
Email (ex. an email topic that you could send)
Direct Mail (ex. flyer, postcard, letter)
Promotion/Offer (ex. an offer that you could make)
PR (ex. endorsement or joint venture with someone well known)
Partner (ex. an event or campaign that you could do with
another organization).
15. Services:
Write down a service that you could add to your portfolio.
Remember that services are:
Intangible. You cannot hold or touch a service unlike a product.
Can’t see it, feel it, and even test it prior to purchase.
Inseparable. Services cannot be separated from the service
provid
provided and consumed at the same time in the same location
Perishable: Can’t be stored and sold the following day or at
some other time
Variable: The more your business relies on humans to provide
services (instead of automation), the more susceptible you are
to variability.
While manager focus on process improvement for product,
manager focus on consistency for services.
Write down specifically what you believe that customers will
expect. Wordslike quality or ease are NOT specific enough.
What specifically will you do to maintain and measure
consistency of service?
Global Marketing
In taking your company global, what specific issues will you
16. have, if any with:
Demand
Are there any cultural, political or regional issues that would
make your product undesirable
ex. religious rules, nationalism
Affordability
Can a significant part of your global market afford your
product?
Access
Do distribution, infrastructure, legal, or staffing issues impact
your product.
Branding
Does your brand work as is, or do you need to modify your brnd
to fit multiple countries?