SlideShare a Scribd company logo
Marketing Plan
Cassandra Williams
The Details
● A marketing plan is defined in our textbook as, “a written
document composed of an analysis of current marketing situation,
opportunities and threats for the firm, marketing objectives and
strategy specified in terms of the ‘four P’s,’ action program, and
projected or pro forma income (and other financial) statements.”
● That may sound like a lot, but it’s easy to break down!
The Four P’s
● The four P’s are: Promotion, production, product, and place.
Also known as the “marketing mix.”
● Promotion is communicating value
● Product is creating value
● Price is capturing value
● Place is delivering value
Place
● Place deals specifically with retail and marketing channel
management, also known as supply chain management.
● There are a certain set of techniques to make the place aspect run
smoothly and effectively. Suppliers, warehouses, and stores must
run a smooth and seamless operating system so goods and
services delivered in efficient way, while staying on budget
Price
● The key to determining price is to figure out how much value a
consumer places on a product, and in turn, how much they are
willing to pay for it.
● The price will need to create a profit
Planning, Implementation, Control
● The planning, implementation, and control phases are all
important aspects of the marketing plan.
● Each phase has multiple steps to create the best possible
marketing plan
● The plan may change or be adjusted upon completing a phase, or
a step within the phase
Planning Phase
● The planning phase is where a firm or company defines critical
objections. In addition, the firm will also create a mission
statement and a positioning statement.
● A mission statement is a broad description of objectives. A firm
will use their mission statement to answer questions such as,
“What type of business are we?” and “What do we need to
accomplish?”
Implementation Phase
● The implementation phase as multiple steps included in it. These
include the SWOT analysis and STP.
● SWOT analysis is strengths, weaknesses, opportunities, and
threats. Strengths and weaknesses are internal, while
opportunities and threats are external.
● STP is segmentation, targeting, and positioning. These important
parts of the marketing plan are how a firm decides which specific
segment of a market to target, and how to position their products
towards said segmented target.
Control Phase
● The control phase is how a firm evaluates its performance. This
may include marketing metrics and a portfolio analysis.
● In a portfolio analysis, the management will evaluate the many
products a firm is marketing. After the evaluation, the
management will allocate financial resources in accordance with
the profit.
Conclusion
● Every step and phase of the marketing plan plays a crucial role in
creating an effective plan.
● A strategic planning process can go back and forth between steps
and phases to create the most successful plan. This can be
situational.

More Related Content

What's hot

5W1H Approach to Sales planning
5W1H Approach to Sales planning5W1H Approach to Sales planning
5W1H Approach to Sales planning
Sanjay Singh
 
sales plan
sales plansales plan
sales plan
ejensene
 
How is strategic planning carried out at different level of marketing?
How is strategic planning carried out at different level of marketing?How is strategic planning carried out at different level of marketing?
How is strategic planning carried out at different level of marketing?
Sameer Mathur
 
Sales plan
Sales planSales plan
Sales plan
Ajesh Shah
 
Element of a Business Plan
Element of a Business PlanElement of a Business Plan
Element of a Business Plan
ReturnOnChange
 
Creating a Successful Sales Plan - Slideshare Edition
Creating a Successful Sales Plan - Slideshare EditionCreating a Successful Sales Plan - Slideshare Edition
Creating a Successful Sales Plan - Slideshare Edition
Deborah L. Brown Maher
 
Tercer Trimestre (3Q)
Tercer Trimestre (3Q)Tercer Trimestre (3Q)
Tercer Trimestre (3Q)
Conteni2
 
Sales territory and management of sales quota
Sales territory and management of sales quotaSales territory and management of sales quota
Sales territory and management of sales quota
sanjay_sarkar
 
heather-maccaffrie-resume--2-
heather-maccaffrie-resume--2-heather-maccaffrie-resume--2-
heather-maccaffrie-resume--2-
Heather MacCaffrie
 
Strategic Planning (Extract)
Strategic Planning (Extract)Strategic Planning (Extract)
Strategic Planning (Extract)
Andrew Scouller
 
Introducción
IntroducciónIntroducción
Introducción
Conteni2
 
Lesson 2 elements of a business plan
Lesson 2   elements of a business planLesson 2   elements of a business plan
Lesson 2 elements of a business plan
edfowler
 
Driving Strategic Growth - D Hetrick 2016
Driving Strategic Growth - D Hetrick 2016Driving Strategic Growth - D Hetrick 2016
Driving Strategic Growth - D Hetrick 2016
Dale Hetrick
 
Key performance indicators
Key performance indicatorsKey performance indicators
Key performance indicators
Ankita Dhandharia
 
Business plan (vtu 18 ec51 times module 5)
Business plan (vtu 18 ec51 times module 5)Business plan (vtu 18 ec51 times module 5)
Business plan (vtu 18 ec51 times module 5)
NikhilKumar1574
 
Sales plan template
Sales plan templateSales plan template
Sales plan template
Maja Seeberg
 
Sales & marketing director mohamed khattab
Sales & marketing director mohamed khattabSales & marketing director mohamed khattab
Sales & marketing director mohamed khattab
Mohamed Khattab
 
Sales functions
Sales functionsSales functions
Sales functions
Rakesh Vishwakarma
 
marketing-kotler
marketing-kotlermarketing-kotler
marketing-kotler
Rajat Sharma
 
Sales budgeting
Sales budgetingSales budgeting
Sales budgeting
Gurjit
 

What's hot (20)

5W1H Approach to Sales planning
5W1H Approach to Sales planning5W1H Approach to Sales planning
5W1H Approach to Sales planning
 
sales plan
sales plansales plan
sales plan
 
How is strategic planning carried out at different level of marketing?
How is strategic planning carried out at different level of marketing?How is strategic planning carried out at different level of marketing?
How is strategic planning carried out at different level of marketing?
 
Sales plan
Sales planSales plan
Sales plan
 
Element of a Business Plan
Element of a Business PlanElement of a Business Plan
Element of a Business Plan
 
Creating a Successful Sales Plan - Slideshare Edition
Creating a Successful Sales Plan - Slideshare EditionCreating a Successful Sales Plan - Slideshare Edition
Creating a Successful Sales Plan - Slideshare Edition
 
Tercer Trimestre (3Q)
Tercer Trimestre (3Q)Tercer Trimestre (3Q)
Tercer Trimestre (3Q)
 
Sales territory and management of sales quota
Sales territory and management of sales quotaSales territory and management of sales quota
Sales territory and management of sales quota
 
heather-maccaffrie-resume--2-
heather-maccaffrie-resume--2-heather-maccaffrie-resume--2-
heather-maccaffrie-resume--2-
 
Strategic Planning (Extract)
Strategic Planning (Extract)Strategic Planning (Extract)
Strategic Planning (Extract)
 
Introducción
IntroducciónIntroducción
Introducción
 
Lesson 2 elements of a business plan
Lesson 2   elements of a business planLesson 2   elements of a business plan
Lesson 2 elements of a business plan
 
Driving Strategic Growth - D Hetrick 2016
Driving Strategic Growth - D Hetrick 2016Driving Strategic Growth - D Hetrick 2016
Driving Strategic Growth - D Hetrick 2016
 
Key performance indicators
Key performance indicatorsKey performance indicators
Key performance indicators
 
Business plan (vtu 18 ec51 times module 5)
Business plan (vtu 18 ec51 times module 5)Business plan (vtu 18 ec51 times module 5)
Business plan (vtu 18 ec51 times module 5)
 
Sales plan template
Sales plan templateSales plan template
Sales plan template
 
Sales & marketing director mohamed khattab
Sales & marketing director mohamed khattabSales & marketing director mohamed khattab
Sales & marketing director mohamed khattab
 
Sales functions
Sales functionsSales functions
Sales functions
 
marketing-kotler
marketing-kotlermarketing-kotler
marketing-kotler
 
Sales budgeting
Sales budgetingSales budgeting
Sales budgeting
 

Similar to Marketing plan

The marketing plan
The marketing planThe marketing plan
The marketing plan
PaigeBolinger1
 
Jayci Mitchell pov slideshare
Jayci Mitchell pov slideshareJayci Mitchell pov slideshare
Jayci Mitchell pov slideshare
JayciMitchell
 
Module 5 marketing Strategies and plans.pptx
Module 5 marketing Strategies and plans.pptxModule 5 marketing Strategies and plans.pptx
Module 5 marketing Strategies and plans.pptx
BaluJagadish1
 
Marketing PowerPoint Michael McFellin.pptx
Marketing PowerPoint Michael McFellin.pptxMarketing PowerPoint Michael McFellin.pptx
Marketing PowerPoint Michael McFellin.pptx
michaelmcfellin
 
The marketing plan
The marketing planThe marketing plan
The marketing plan
SydneeJohnson2
 
Commercial Strategy Plan
Commercial Strategy PlanCommercial Strategy Plan
Commercial Strategy Plan
André Harrell
 
Mohamed Attia C.V
Mohamed Attia C.VMohamed Attia C.V
Mohamed Attia C.V
LG Electronics
 
Mohamed Attia C.V
Mohamed Attia C.VMohamed Attia C.V
Mohamed Attia C.V
LG Electronics
 
Point of View.pptx
Point of View.pptxPoint of View.pptx
Point of View.pptx
MorganDillon3
 
Strategic Planning: Developing and Implementing a Marketing Plan
Strategic Planning: Developing and Implementing a Marketing PlanStrategic Planning: Developing and Implementing a Marketing Plan
Strategic Planning: Developing and Implementing a Marketing Plan
Marjorie Rice
 
Marketing Strategy & Marketing Plans.pptx
Marketing Strategy & Marketing Plans.pptxMarketing Strategy & Marketing Plans.pptx
Marketing Strategy & Marketing Plans.pptx
LailaRichey
 
The 6 stages for business advantage
The 6 stages for business advantage The 6 stages for business advantage
The 6 stages for business advantage
Strategic Business & IT Services
 
Business level strategies
Business level strategiesBusiness level strategies
Business level strategies
waseem40459
 
Business Plan
Business PlanBusiness Plan
Business Plan
Sajad Nazari
 
Foundations of marketing presentation
Foundations of marketing  presentation Foundations of marketing  presentation
Foundations of marketing presentation
JessicaFarmer18
 
The Marketing plan
The Marketing planThe Marketing plan
The Marketing plan
MatthewForsthoefel
 
Sales management
Sales managementSales management
Sales management
HamzaAli367
 
Sales management
Sales managementSales management
Sales management
HamzaAli367
 
Planning, Organizing & Control for sales team.pdf
Planning, Organizing & Control for sales team.pdfPlanning, Organizing & Control for sales team.pdf
Planning, Organizing & Control for sales team.pdf
AmitKumarHajela
 
Allocadia's Marketing Performance Management Maturity Self-Assessment Workbook
Allocadia's Marketing Performance Management Maturity Self-Assessment WorkbookAllocadia's Marketing Performance Management Maturity Self-Assessment Workbook
Allocadia's Marketing Performance Management Maturity Self-Assessment Workbook
Allocadia Software
 

Similar to Marketing plan (20)

The marketing plan
The marketing planThe marketing plan
The marketing plan
 
Jayci Mitchell pov slideshare
Jayci Mitchell pov slideshareJayci Mitchell pov slideshare
Jayci Mitchell pov slideshare
 
Module 5 marketing Strategies and plans.pptx
Module 5 marketing Strategies and plans.pptxModule 5 marketing Strategies and plans.pptx
Module 5 marketing Strategies and plans.pptx
 
Marketing PowerPoint Michael McFellin.pptx
Marketing PowerPoint Michael McFellin.pptxMarketing PowerPoint Michael McFellin.pptx
Marketing PowerPoint Michael McFellin.pptx
 
The marketing plan
The marketing planThe marketing plan
The marketing plan
 
Commercial Strategy Plan
Commercial Strategy PlanCommercial Strategy Plan
Commercial Strategy Plan
 
Mohamed Attia C.V
Mohamed Attia C.VMohamed Attia C.V
Mohamed Attia C.V
 
Mohamed Attia C.V
Mohamed Attia C.VMohamed Attia C.V
Mohamed Attia C.V
 
Point of View.pptx
Point of View.pptxPoint of View.pptx
Point of View.pptx
 
Strategic Planning: Developing and Implementing a Marketing Plan
Strategic Planning: Developing and Implementing a Marketing PlanStrategic Planning: Developing and Implementing a Marketing Plan
Strategic Planning: Developing and Implementing a Marketing Plan
 
Marketing Strategy & Marketing Plans.pptx
Marketing Strategy & Marketing Plans.pptxMarketing Strategy & Marketing Plans.pptx
Marketing Strategy & Marketing Plans.pptx
 
The 6 stages for business advantage
The 6 stages for business advantage The 6 stages for business advantage
The 6 stages for business advantage
 
Business level strategies
Business level strategiesBusiness level strategies
Business level strategies
 
Business Plan
Business PlanBusiness Plan
Business Plan
 
Foundations of marketing presentation
Foundations of marketing  presentation Foundations of marketing  presentation
Foundations of marketing presentation
 
The Marketing plan
The Marketing planThe Marketing plan
The Marketing plan
 
Sales management
Sales managementSales management
Sales management
 
Sales management
Sales managementSales management
Sales management
 
Planning, Organizing & Control for sales team.pdf
Planning, Organizing & Control for sales team.pdfPlanning, Organizing & Control for sales team.pdf
Planning, Organizing & Control for sales team.pdf
 
Allocadia's Marketing Performance Management Maturity Self-Assessment Workbook
Allocadia's Marketing Performance Management Maturity Self-Assessment WorkbookAllocadia's Marketing Performance Management Maturity Self-Assessment Workbook
Allocadia's Marketing Performance Management Maturity Self-Assessment Workbook
 

Recently uploaded

Data-Driven Personalization - Build a Competitive Advantage by Knowing Your C...
Data-Driven Personalization - Build a Competitive Advantage by Knowing Your C...Data-Driven Personalization - Build a Competitive Advantage by Knowing Your C...
Data-Driven Personalization - Build a Competitive Advantage by Knowing Your C...
DigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
 
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...
Amsive
 
How to Make Your Trade Show Booth Stand Out
How to Make Your Trade Show Booth Stand OutHow to Make Your Trade Show Booth Stand Out
How to Make Your Trade Show Booth Stand Out
Blue Atlas Marketing
 
Growth Marketing in 2024 - Randy Rayess, Outgrow
Growth Marketing in 2024 - Randy Rayess,  OutgrowGrowth Marketing in 2024 - Randy Rayess,  Outgrow
Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...
Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...
Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...
DigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
 
Breaking Silos To Break Bank: Shattering The Divide Between Search And Social
Breaking Silos To Break Bank: Shattering The Divide Between Search And SocialBreaking Silos To Break Bank: Shattering The Divide Between Search And Social
Breaking Silos To Break Bank: Shattering The Divide Between Search And Social
Navah Hopkins
 
Mastering The Best Restaurant Advertising Campaigns Detailed Guide
Mastering The Best Restaurant Advertising Campaigns Detailed GuideMastering The Best Restaurant Advertising Campaigns Detailed Guide
Mastering The Best Restaurant Advertising Campaigns Detailed Guide
Kopa Global Technologies
 
PickUp_conversational AI_Capex, Inc._20240611
PickUp_conversational AI_Capex, Inc._20240611PickUp_conversational AI_Capex, Inc._20240611
PickUp_conversational AI_Capex, Inc._20240611
Shuntaro Kogame
 
Get Off the Bandwagon - Separating Digital Marketing Myths from Truth - Scott...
Get Off the Bandwagon - Separating Digital Marketing Myths from Truth - Scott...Get Off the Bandwagon - Separating Digital Marketing Myths from Truth - Scott...
Get Off the Bandwagon - Separating Digital Marketing Myths from Truth - Scott...
DigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
 
Pillar-Based Marketing Master Class - Ryan Brock
Pillar-Based Marketing Master Class - Ryan BrockPillar-Based Marketing Master Class - Ryan Brock
WTS-Berlin-2024-Veronika-Höller-Innovate-NextGEN-SEO-Merging-AI-Multimedia-an...
WTS-Berlin-2024-Veronika-Höller-Innovate-NextGEN-SEO-Merging-AI-Multimedia-an...WTS-Berlin-2024-Veronika-Höller-Innovate-NextGEN-SEO-Merging-AI-Multimedia-an...
WTS-Berlin-2024-Veronika-Höller-Innovate-NextGEN-SEO-Merging-AI-Multimedia-an...
Veronika Höller
 
Basic Management Concepts., “Management is the art of getting things done thr...
Basic Management Concepts., “Management is the art of getting things done thr...Basic Management Concepts., “Management is the art of getting things done thr...
Basic Management Concepts., “Management is the art of getting things done thr...
DilanThennakoon
 
Learn more about affiliate marketing as a beginner
Learn more about affiliate marketing as a beginnerLearn more about affiliate marketing as a beginner
Learn more about affiliate marketing as a beginner
MichaelGiles34
 
Top Strategies for Building High-Quality Backlinks in 2024 PPT.pdf
Top Strategies for Building High-Quality Backlinks in 2024 PPT.pdfTop Strategies for Building High-Quality Backlinks in 2024 PPT.pdf
Top Strategies for Building High-Quality Backlinks in 2024 PPT.pdf
1Solutions Pvt. Ltd.
 
No Cookies, No Problem - Steve Krull, Be Found Online
No Cookies, No Problem - Steve Krull, Be Found OnlineNo Cookies, No Problem - Steve Krull, Be Found Online
No Cookies, No Problem - Steve Krull, Be Found Online
DigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
 
Advanced Storytelling Concepts for Marketers
Advanced Storytelling Concepts for MarketersAdvanced Storytelling Concepts for Marketers
Advanced Storytelling Concepts for Marketers
Ed Shimp
 
DCC Technology Intro Slides June 2024.pptx
DCC Technology Intro Slides June 2024.pptxDCC Technology Intro Slides June 2024.pptx
DCC Technology Intro Slides June 2024.pptx
vishc81
 
PickUp_conversational AI_Capex, Inc._20240610
PickUp_conversational AI_Capex, Inc._20240610PickUp_conversational AI_Capex, Inc._20240610
PickUp_conversational AI_Capex, Inc._20240610
Shuntaro Kogame
 
Influencer Marketing Master Class - Alexis Andreasik
Influencer Marketing Master Class - Alexis AndreasikInfluencer Marketing Master Class - Alexis Andreasik
Influencer Marketing Master Class - Alexis Andreasik
DigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
 

Recently uploaded (20)

Data-Driven Personalization - Build a Competitive Advantage by Knowing Your C...
Data-Driven Personalization - Build a Competitive Advantage by Knowing Your C...Data-Driven Personalization - Build a Competitive Advantage by Knowing Your C...
Data-Driven Personalization - Build a Competitive Advantage by Knowing Your C...
 
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...
 
How to Make Your Trade Show Booth Stand Out
How to Make Your Trade Show Booth Stand OutHow to Make Your Trade Show Booth Stand Out
How to Make Your Trade Show Booth Stand Out
 
Growth Marketing in 2024 - Randy Rayess, Outgrow
Growth Marketing in 2024 - Randy Rayess,  OutgrowGrowth Marketing in 2024 - Randy Rayess,  Outgrow
Growth Marketing in 2024 - Randy Rayess, Outgrow
 
Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...
Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...
Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...
 
Breaking Silos To Break Bank: Shattering The Divide Between Search And Social
Breaking Silos To Break Bank: Shattering The Divide Between Search And SocialBreaking Silos To Break Bank: Shattering The Divide Between Search And Social
Breaking Silos To Break Bank: Shattering The Divide Between Search And Social
 
Mastering The Best Restaurant Advertising Campaigns Detailed Guide
Mastering The Best Restaurant Advertising Campaigns Detailed GuideMastering The Best Restaurant Advertising Campaigns Detailed Guide
Mastering The Best Restaurant Advertising Campaigns Detailed Guide
 
PickUp_conversational AI_Capex, Inc._20240611
PickUp_conversational AI_Capex, Inc._20240611PickUp_conversational AI_Capex, Inc._20240611
PickUp_conversational AI_Capex, Inc._20240611
 
Get Off the Bandwagon - Separating Digital Marketing Myths from Truth - Scott...
Get Off the Bandwagon - Separating Digital Marketing Myths from Truth - Scott...Get Off the Bandwagon - Separating Digital Marketing Myths from Truth - Scott...
Get Off the Bandwagon - Separating Digital Marketing Myths from Truth - Scott...
 
Pillar-Based Marketing Master Class - Ryan Brock
Pillar-Based Marketing Master Class - Ryan BrockPillar-Based Marketing Master Class - Ryan Brock
Pillar-Based Marketing Master Class - Ryan Brock
 
WTS-Berlin-2024-Veronika-Höller-Innovate-NextGEN-SEO-Merging-AI-Multimedia-an...
WTS-Berlin-2024-Veronika-Höller-Innovate-NextGEN-SEO-Merging-AI-Multimedia-an...WTS-Berlin-2024-Veronika-Höller-Innovate-NextGEN-SEO-Merging-AI-Multimedia-an...
WTS-Berlin-2024-Veronika-Höller-Innovate-NextGEN-SEO-Merging-AI-Multimedia-an...
 
Basic Management Concepts., “Management is the art of getting things done thr...
Basic Management Concepts., “Management is the art of getting things done thr...Basic Management Concepts., “Management is the art of getting things done thr...
Basic Management Concepts., “Management is the art of getting things done thr...
 
Learn more about affiliate marketing as a beginner
Learn more about affiliate marketing as a beginnerLearn more about affiliate marketing as a beginner
Learn more about affiliate marketing as a beginner
 
Top Strategies for Building High-Quality Backlinks in 2024 PPT.pdf
Top Strategies for Building High-Quality Backlinks in 2024 PPT.pdfTop Strategies for Building High-Quality Backlinks in 2024 PPT.pdf
Top Strategies for Building High-Quality Backlinks in 2024 PPT.pdf
 
No Cookies, No Problem - Steve Krull, Be Found Online
No Cookies, No Problem - Steve Krull, Be Found OnlineNo Cookies, No Problem - Steve Krull, Be Found Online
No Cookies, No Problem - Steve Krull, Be Found Online
 
Advanced Storytelling Concepts for Marketers
Advanced Storytelling Concepts for MarketersAdvanced Storytelling Concepts for Marketers
Advanced Storytelling Concepts for Marketers
 
Amazing and On Point - Ramon Ray, USA TODAY
Amazing and On Point - Ramon Ray, USA TODAYAmazing and On Point - Ramon Ray, USA TODAY
Amazing and On Point - Ramon Ray, USA TODAY
 
DCC Technology Intro Slides June 2024.pptx
DCC Technology Intro Slides June 2024.pptxDCC Technology Intro Slides June 2024.pptx
DCC Technology Intro Slides June 2024.pptx
 
PickUp_conversational AI_Capex, Inc._20240610
PickUp_conversational AI_Capex, Inc._20240610PickUp_conversational AI_Capex, Inc._20240610
PickUp_conversational AI_Capex, Inc._20240610
 
Influencer Marketing Master Class - Alexis Andreasik
Influencer Marketing Master Class - Alexis AndreasikInfluencer Marketing Master Class - Alexis Andreasik
Influencer Marketing Master Class - Alexis Andreasik
 

Marketing plan

  • 2. The Details ● A marketing plan is defined in our textbook as, “a written document composed of an analysis of current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the ‘four P’s,’ action program, and projected or pro forma income (and other financial) statements.” ● That may sound like a lot, but it’s easy to break down!
  • 3. The Four P’s ● The four P’s are: Promotion, production, product, and place. Also known as the “marketing mix.” ● Promotion is communicating value ● Product is creating value ● Price is capturing value ● Place is delivering value
  • 4. Place ● Place deals specifically with retail and marketing channel management, also known as supply chain management. ● There are a certain set of techniques to make the place aspect run smoothly and effectively. Suppliers, warehouses, and stores must run a smooth and seamless operating system so goods and services delivered in efficient way, while staying on budget
  • 5. Price ● The key to determining price is to figure out how much value a consumer places on a product, and in turn, how much they are willing to pay for it. ● The price will need to create a profit
  • 6. Planning, Implementation, Control ● The planning, implementation, and control phases are all important aspects of the marketing plan. ● Each phase has multiple steps to create the best possible marketing plan ● The plan may change or be adjusted upon completing a phase, or a step within the phase
  • 7. Planning Phase ● The planning phase is where a firm or company defines critical objections. In addition, the firm will also create a mission statement and a positioning statement. ● A mission statement is a broad description of objectives. A firm will use their mission statement to answer questions such as, “What type of business are we?” and “What do we need to accomplish?”
  • 8. Implementation Phase ● The implementation phase as multiple steps included in it. These include the SWOT analysis and STP. ● SWOT analysis is strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal, while opportunities and threats are external. ● STP is segmentation, targeting, and positioning. These important parts of the marketing plan are how a firm decides which specific segment of a market to target, and how to position their products towards said segmented target.
  • 9. Control Phase ● The control phase is how a firm evaluates its performance. This may include marketing metrics and a portfolio analysis. ● In a portfolio analysis, the management will evaluate the many products a firm is marketing. After the evaluation, the management will allocate financial resources in accordance with the profit.
  • 10. Conclusion ● Every step and phase of the marketing plan plays a crucial role in creating an effective plan. ● A strategic planning process can go back and forth between steps and phases to create the most successful plan. This can be situational.