5 Steps to make a marketing plan.

1. MARKETING
PLAN
PRINCIPLES
5 S T E P P R O C E S S T O D E S I G N I N G
A N A F F E C T I V E M A R K E T I N G P L A N

2. STEP 1: Define the
Business Mission
and Objectives
✧ Write a Mission Statement that
answers these questions
✧ What type of business are we?
✧ What are our objectives?
✧ What do we need to do to
accomplish those objectives?

3. STEP 2:
Conduct a
Situation
Analysis
using SWOT

4. SWOT Analysis Identifies:
Strengths- What do you do well?
Weaknesses- Where do you have fewer resources than others?
Opportunities- What trends could you take advantage of?
Threats- What threats do your weaknesses expose to you?

5. STEP 3: Identify and
Evaluate
Opportunities using
Segmentation,
Targeting, and
Positioning
Segmentation – The process of dividing
the market into groups of customers
with different needs, wants, or
characteristics.

6. STEP 3: Continued
Targeting - The process of evaluating the
attractiveness of various segments and
then deciding which to pursue as a
market.
Positioning – The process of defining the
marketing mix variables so that target
customers have a clear, distinctive, desirable
understanding of what the product does or
represents in comparison with competing
products.

7. STEP 4: Implement
Marketing Mix and
Allocate Resources
The Four P’s- Product,
Price, Promotion and
Placement.

8. Product
and Price
P R O D U C T A N D VA L U E C R E AT I O N
P R O D U C T S –
C R E AT I N G P R O D U C T S T H AT
C U S T O M E R S P E R C E I V E A S
VA L U A B L E E N O U G H T O B U Y.
P R I C E A N D VA L U E C A P T U R E –
P R I C E S H O U L D B E B A S E D O N T H E
VA L U E T H AT T H E C U S T O M E R
P E R C E I V E S .

9. Place and
Promotion
P L A C E A N D VA L U E D E L I V E R Y –
M A K E T H E P R O D U C T O R S E R V I C E
R E A D I LY A C C E S S I B L E W H E N A N D
W H E R E T H E C U S T O M E R WA N T S
I T
P R O M O T I O N A N D VA L U E
C O M M U N I C A I O N –
A D V E R T I S I N G A N D P R O M O T I O N
T O P R O V I D E C L A R I T Y,
C O N S I S T E N C Y, A N D M A X I M U M
C O M M U N I C AT I V E I M PA C T

10. STEP 5: Evaluate
Performance Using
Marketing Metrics
The final step in the planning process
includes evaluating the results of the
strategy and implementation program using
market metrics. Metrics explain why things
happen and also project the future.

11. References:
Grewal, Dhruv, and Michael Levy. Marketing. McGrawHill, 2022.