PowerPoint on developing a marketing plan

1. How To Develop a Marketing Plan
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2. What is a
Marketing
Plan
A marketing plan is a written
document composed of an analysis of
the current marketing situation,
opportunities and threats for the firm,
marketing objectives and strategy
specified in terms of the four Ps, action
programs, and projected or pro forma
income (and other financial)
statements.
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3. 3 Major Phases of
The Marketing Plan
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Planning Phase: Where
marketing executives, in
conjunction with other top
managers, define the mission
and/or vision of the business
Implementation Phase: Where
marketing managers identify and
evaluate different opportunities by
engaging in a process known as
segmentation, targeting, and
positioning (STP).
Control Phase: Where you will
evaluate the performance of the
marketing strategy using
marketing metrics and taking any
necessary corrective actions.

4. Step 1: Define
Business Mission
and Objectives
You will develop a mission statement that will be a
broad description of your firm’s objectives and the
scope of activities you plan to undertake.
Your mission statement will answer 3 questions
1. What type of business are we?
2. What are our objectives?
3. What do we need to accomplish those objectives?
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5. Step 2: Conduct a Situation Analysis
Conduct a SWOT Analysis
A SWOT analysis will assess your company’s internal environment from the
following.
• Strengths
• Weaknesses
• Opportunities
• Weaknesses
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6. Step 3: Identify and Evaluate Opportunities
Using Segmentation, Targeting, and
Positioning (STP)
• Segmentation: You will divide your market into groups of customers with different
needs, wants, or characteristics
• Targeting: Evaluate each segments attractiveness and decide which one to pursue
that will be your target market
• Positioning: Define your marketing mix variables so your target customers have a
clear, distinctive, desirable understanding of what your product does in comparison
with competing products
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7. Step 4: Implement Marketing Mix and Allocate
Resources
You Will Use the Four Ps of Marketing
• Product: Value creation, you will develop products and services that customers will perceive
as valuable enough to buy.
• Price: Value capture prices customers perceive as giving them a good value for the product
they receive
• Place: Value delivery you must make your product or service readily available when and where
the customer wants
• Promotion: Value communication you will use a variety of communication disciplines to reach
your customers advertising, personal selling, sales promotion, public relations, direct
marketing, and online marketing including social media
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8. Step 5: Evaluate Performance Using
Marketing Metrics
What is a metric? A metric is a measuring system that
quantifies a trend, dynamic, or characteristic
Why are metrics used? They are used to explain why things
happen and also predict the future
Metrics also make it possible to compare results across
regions, strategic business units (SBUs) product lines, and
time periods
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9. Conclusion
• You can follow these steps to write
your own marketing plan
• This is just a general guideline and
there are always more things to
consider when writing your marketing
plan
• Make sure to be thorough with your
marketing plan and don’t hold back
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10. Works Cited
• Grewal, Dhruv, and
Michael Levy.
Marketing. McGraw-
Hill, 2022.
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