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The Marketing Plan
- 1. 8-1 Chapter 8 The Marketing Plan
- 2. 8-2 Industry Analysis Provide Sufficient Knowledge Of Environment Broad-Based Assessment Of Trends Competitor Analysis 1) Strengths 2) Weaknesses
- 3. 8-3 Market Research Steps 1) Define Purpose 2) Gather Data- Secondary Sources 3) Gather Information- Primary Sources 4) Analyze/Interpret Results
- 4. 8-4 Marketing Plan 1) Where Have We Been? 2) Where Do We Want To Go? 3) How Do We Get There?
- 5. 8-5 Characteristics of Marketing Plan Provide Strategy Based On Facts/Assumptions Organization For Implementation Short & Long-Term Continuity Simple/Short Flexible Criteria For Control
- 6. 8-6 Environmental Factors Financial Resources Management Team Suppliers Company Mission
- 7. 8-7 Steps in Plan Preparation Define Situation Define Target Market Consider Strengths/Weaknesses Establish Goals/Objectives Define Strategy/Action
- 8. 8-8 Target Marketing Market Segmentation 1. ID Bases for Segmenting 2. Develop Profiles Market Targeting 3. Evaluate Segment Attractiveness 4. Select Target Segments Market Positioning 5. ID Possible Positioning Concepts 6. Develop Marketing Mix
- 9. 8-9 Market Segmentation Customer Characteristics Geographic Demographic Psychographic Buying Situation Desired Benefits Usage Buying Conditions Awareness Of Buying Intention
- 10. 8-10 Consumer Market Segmentation Demographic Age, Family Size, Education Level, Family Life Cycle, Income, Nationality, Occupation, Race, Religion, Residence, Sex, Social Class Geographic Region of Country, City Size, Market Density, Climate Psychological Personality Traits, Motives, Life Style Benefits Durability, Dependability, Economy, Esteem Enhancement, Status from Ownership, Handiness Volume of Use Heavy, Medium, Light Controllable Elements Sales Promotion, Price, Advertising, Guarantee, Warranty, Retail Store Purchased Service, Product Attributes, Reputation of Seller
- 11. 8-11 Industrial Market Segmentation Demographic Number of Employees, Size of Sales, Size of Profit, Type of Product Lines Geographic Region of Country Psychological Degree of Industrial Leadership Benefits Dependability, Reliability of Seller & Support Service, Efficiency in Operation or Use, Enhancement of Firm’s Earning, Durability Volume of Use Heavy, Medium, Light Controllable Elements Price, Service, Warranty, Reputation of Seller
- 12. 8-12 Government Market Segmentation Demographic Type of Agency, Size of Budget, Amount of Autonomy Geographic Federal, State, Local Psychological Degree of Forward Thinking Benefits Dependability, Reliability of Seller & Support Services Volume of Use Heavy, Medium, Light Controllable Elements Price, Reputation of Seller
- 13. 8-13 Marketing Strategy Product/Service Pricing Costs Markup/Margin Competition Distribution Promotion Consumer vs. B2B Budget Implementation Monitor Progress Contingency
- 14. 8-14 Product Mix Quality Assortment Breadth/Depth of Line Warranty Guarantee Service Package
- 15. 8-15 Price Mix-Relationships $ Price/Consumer Reactions $ Price/Cost $ Price/Competitive Reactions
- 16. 8-16 Distribution Mix Channels Retailers Wholesalers Representatives Physical Distribution Storage Inventory Transportation Warehousing
- 17. 8-17 Distribution Channel Selection Degree of Directness Market Conditions Product Attributes Cost Benefits Venture Attributes Number of Channel Members Intensive Selective Exclusive Channel Member Selection Criteria Reputation Services Provided Number of Channels- 1 or Multiple Target Markets 1 Channel Multiple Channels
- 18. 8-18 Why Plans Fail Lack of Real Plan Lack of Adequate Analysis Unrealistic Goals
- 21. 8-21 Market Summary Market: Past, present, and future Review changes in market share, leadership, players, market shifts, costs, pricing, and competition
- 22. 8-22 Product Definition Describe the product or service being marketed
- 23. 8-23 Competition The competitive landscape Provide an overview of product competitors, and their strengths and weaknesses Position each competitor’s product against the new product
- 24. 8-24 Positioning Positioning of product or service Statement that distinctly defines the product in its market and against its competition over time Consumer promise Statement summarizing the benefit of the product or service to the consumer
- 25. 8-25 Communication Strategies Messaging by audience Target consumer demographics
- 26. 8-26 Packaging and Fulfillment Product packaging Discuss form factor, pricing, look, and strategy Discuss fulfillment issues for items not shipped directly with the product COGs Summarize cost of goods and high-level bill of materials
- 27. 8-27 Launch Strategies Launch plan If product is being announced Promotion budget Supply backup material with detailed budget information for review
- 28. 8-28 Public Relations Strategy and execution PR strategies PR plan highlights Have backup PR plan including editorial calendars, speaking engagements, conference schedules, etc.
- 29. 8-29 Advertising Strategy and execution Overview of strategy Overview of media and timing Overview of ad spending
- 30. 8-30 Other Promotion Direct marketing Overview of strategy, vehicles, and timing Overview of response targets, goals, and budget Third-party marketing Co-marketing arrangements with other companies Marketing programs Other promotional programs
- 31. 8-31 Pricing Pricing Summarize specific pricing or pricing strategies Compare to similar products Policies Summarize policy relevant to understanding key pricing issues
- 32. 8-32 Distribution Distribution strategy Channels of distribution Summarize channels of distribution Distribution by channel Show plan of what percent share of distribution will be contributed by each channel – a pie chart might be helpful
- 33. 8-33 Vertical Markets/Segments Vertical market opportunities Discuss specific market segment opportunities Address distribution strategies for those markets or segments Address use of third-party partner role in distribution to vertical markets
- 34. 8-34 International International distribution Address distribution strategies Discuss issues specific to international distribution International pricing strategy Localization issues Highlight requirements for local product variations
- 35. 8-35 Success Metrics First year goals Additional year goals Measures of success/failure Requirements for success
- 36. 8-36 Schedule 18-month schedule highlights Timing Isolate timing dependencies critical to success