The document provides an overview of key aspects of developing a marketing plan, including understanding the purpose and components of a marketing plan, conducting marketing research, analyzing the internal and external environment, and establishing goals and strategies. A marketing plan addresses where the business has been, where it wants to go, and how it will get there. It involves situational analysis, defining the target market and opportunities/threats, setting goals and objectives, and developing integrated strategies for product, price, placement, and promotion. Marketing research from primary and secondary sources informs the planning process.
Slides cover basic know-how about 'Organizational Goals'. This was curated by Chad Yar Group for submission to don at Bahauddin Zakariya Unversity, Multan
A business plan is a document that brings together the key elements of a business that include details about the products and services, the cost, sales and expected profits.
Whatsapp ( history , fb allience and intresting facts about whatsapp)Harish Godiyal
this slide contains brief and to the point information about the most successful messaging app WHATSAPP
key points::
* history information
* how Whatsapp became so popular
* interesting facts related to the facebook and whatsapp .
* some interesting and unknown key points regarding Whatsapp.
MKT574 v1Strategic Marketing PlanMKT574 v1Page 2 of 2SIlonaThornburg83
MKT/574 v1
Strategic Marketing Plan
MKT/574 v1
Page 2 of 2
Strategic Marketing PlanPart A: Environmental Analysis and SWOT Analysis
(Due in Wk 2)
Company Description
Describe the company you are designing the plan for. Include:
· Mission Statement
· Vision Statement
· Product line description
· Company information, such as the size of the company
Environmental Analysis
Analyze the forces that affect the company and marketing efforts. Competitive Forces
Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to compare your company against its competitors. Describe any strategic moves the competition has recently made. Estimate your market share. Identify key competitive advantages against your competitors.Economic Forces
Analyze the economic environment in the areas affecting your business. Consider differences within your industry and the economic impact on suppliers.Political Forces
Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or eliminate plastic waste in your county.Legal, Regulatory, and Ethical Issues
Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible increased regulation on direct mail.Technological Forces
Analyze whether your company will be affected by emerging technologies or trends in hardware and software industriesSocial Forces
Analyze social trends and how they may affect your business. Considerations may include if your business will be affected by demographic trends, a growing dependence on computers, or whether interest in your product might be affected by growing preferences in the way things are done or changing social values.
Current Target Markets
Define the company’s current target markets. Describe the demographic, geographic, psychographic, and product usage of these targets.
Review Current Marketing
Review the company’s current marketing tactics. Consider how people find out about the product, how they get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors’ current marketing.
SWOT Analysis
Assess your company’s strengths, weaknesses, threats, opportunities, and then evaluate how to address these in your marketing plan. Strengths
Assess your company’s competitive advantage. Consider core competencies, assets, location, practices, etc. that are distinct in the way the organization meets the needs of its customers.Weaknesses
Assess what limits the company may have in its current marketing strategy. Consider if there is a company weakness that needs to be addressed through Public Relations or Marketing.Opportunities
Assess the opportunities you see based on trends or environmental conditions.Threats
Assess the threats or limi ...
(Due in Wk 4)Internal DataEvaluate internal sources of.docxgertrudebellgrove
(Due in Wk 4)
Internal Data
Evaluate
internal sources of information available to you inside the organization and what information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove rows as needed.
Source
What it Measures
Data
Potential Usage
Example: Sales data
Monthly sales by specific product
Average sales that month in US dollars for each of 10 products. Data can be segmented by business and consumer markets.
Can be used for trend analysis, projections, and to measure effectiveness of promotions.
Secondary Data
Evaluate
secondary data sources and the specific information you need from each source. Insert or remove rows as needed.
Source
What it Measures
Data
Potential Usage
Example: retail store analytics
Dollar value of sales by quarter by major product categories
Total sales of major players
Market Share Analysis
Seasonal patterns
Primary Data
Evaluate
primary data needs to create and evaluate the marketing plan. Insert or remove rows as needed.
Source
What it Measures
Data
Potential Usage
Example: Focus group
Product usage, motives, identify group level satisfaction, decision process, etc.
Qualitative
Identify different reactions of market segments to product. Identify marketing opportunities, product/service flaws and opportunities
Customer Relationship Management
Establish
customer touchpoints and develop appropriate CRM events for customer acquisition, retention, and profitability. Insert or remove rows as needed.
CRM Touchpoint
Purpose & CRM Objective
Data
Potential Data Usage
Example: Customer profile information on website
Starts the account for visitors: name, geography, email address (Customer acquisition)
Presale: geographic location; customer id, source of reference
Email address
Post sales: address, product purchased, quantity, price.
Track new and returning customer counts, total period purchases by customer ID, geographic sales data. Can be used for loyalty rewards, retention, and targeted marketing.
Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring
(Due in Wk 6)
New Target Markets
Determine
any new markets for your strategy and describe how you will provide value to each target market.
Marketing Mix for New Target Markets
Determine
adaptions for each new target market.
· Products
· Price
· Distribution
· Traditional Promotion
· Online Promotion
Marketing Implementation
Create
the implementation for your marketing plan. Describe how you will organize and implement the plan, such as whether it will be organized by market, geography, and who is responsible for marketing decisions.
Marketing Communication Channels
Evaluate
the marketing communication channels you will use to reach se.
MKT711 v7Marketing Plan GuidelinesMKT711 v7Page 2 of 2MaIlonaThornburg83
MKT/711 v7
Marketing Plan Guidelines
MKT/711 v7
Page 2 of 2
Marketing Plan Guidelines
Introduction
Before a company commits any funds, resources, or capital to any project, market expansion, or research and development, it needs to have a good handle on the potential market outlook as well as risks.
Review the differences between the two types of data collection methods:
Primary Information Sources
Secondary Information Sources
· Direct observation
· Focus groups
· Surveys
· Experiments
· Internal data sources – The best source of data on current objectives, strategies, performance, and available resources are from the company itself.
· Government sources – Information on the economy, population, and business activities is the major strength of most government data sources. Government sources are also easily accessible and low in cost.
· Book and periodical sources – Articles and research reports are available in the library and other sources on the internet.
· Commercial sources – Trade reports and market research studies are available on websites like the American Marketing Association, or the Advertising Research Foundation.
Analyze secondary information to get a better handle on customer segments and their buying criteria for the brand you have chosen. You will also gain insights into the market landscape, which includes competition, technical information, legal and regulatory issues, supply chain challenges, and other related factors. Through this analysis, you will get a good sense of how well your brand is positioned to compete in the market.
Data Collection Methods
Describe what types of primary and secondary sources you will use to gather information about the brand you selected.
Note: You will need to support your recommendations with secondary research because you do not have time to conduct primary research.
Overview of Brand
Describe the organization and the products or services the brand offers, including the following:
· Description of the brand, including when the brand was founded, the location, size, divisions, product lines, etc.
· Products and services offered by this brand; emphasize the benefits to potential and current customers
· How long the brand has been in the market
· Main selling points of the brand, including how many models, package sizes, and line extensions are marketed by the brand
· The experience of key personnel in the organization, as experience often relates to marketing and business success
Provide an overview of the brand’s financial condition, such as sales, growth rates, capital structure, financial stability, etc.
Include the following items, as appropriate:
· Current objectives
· Overall strategy
· Performance
· Resources
· Financial strength
· Global presence
· Marketing strengths
· Salesforce size
· Research and development excellence
· Supply chain structure
· Stakeholders
Note: You can obtain most of this information from ann ...
FINAL ASSIGNMENTName___________________Date_________________.docxmydrynan
FINAL ASSIGNMENT
Name:___________________
Date:____________________
CJT 2800: Professional Ethics in Criminal Justice-Spring 2014
Course Description:
Examines the decision-making process of those involved in the field of public safety, including law enforcement and corrections, as it relates to morals, values, integrity, discretion and authority. The course queries ethics as to the fair and equal treatment of those involved in the criminal justice process to include criminal justice personnel, victims and criminals. Topics relating to the history, definition, categories and theories of ethics; lying and deception as it relates to criminal justice; prejudice and discrimination in the field of criminal justice; and abuse of authority specific to the field of criminal justice will be examined.
Assessment: Presentation (15 minutes)
1. Each student will choose an ethics related topic to each of the following fields of criminal justice: law enforcement, courts, corrections and forensics.
2. Student will discuss the ethics issue as it relates to each of the fields.
3. Student will provide 1 possible resolution (accountability) to the ethics issues presented in his/her presentation.
4. Student will apply/analyze the ethics issue from each of the 3 theories discussed in the textbook (formalism, Utilitarianism, and Virtue ethics)
5. Student will discuss the impact of technology and media on the ethics issue.
6. The student will research the topic and must have 5 legitimate, documented resources (APA format).
7. The student will provide a 15 minute presentation on the topic using visual aids to include but are not limited to 3 of the following examples: powerpoint, youtube, interactive games, poll everywhere, etc.
8. The student will provide a one page, formal outline of his/her presentation and a citation page in APA format.
1. Create and or evaluate a marketing plan to a defined target utilizing an environmental and SWOT analysis, buyer behavior concepts, product strategy, pricing strategy, integrated marketing communication strategy and a distribution strategy.
2. Describe the relationship between an organization’s success, its customer’s ability and willingness to buy products and competitive and economic factors
3. Apply known methods to improve ethical decisions in a marketing organization
4. Compare and contrast the fundamental methods of gathering data.
5. Define what a market is for an organization
6. Explain why firms select and use different general targeting strategies
7. Develop a segment profile using the major segmentation variables when constructing a marketing plan
8. Evaluate market segments for a firm
9. Explain the benefits, dangers and methods, for positioning of a product, service or idea
10. Discuss the relevance and associated marketing tactics of each of the stages in the consumer buying process in the marketing plan
11. Compare and contrast the major characteristics of business customers and consumers
12. ...
MKT4A2 -Assessment DetailsThe assessment requires that you engag.docxaltheaboyer
MKT4A2 -Assessment Details
The assessment requires that you engage fully with course material from both a theoretical and practical viewpoint. You will need to demonstrate the ability to synthesise ideas and consider the impacts of various strategies on businesses. Your competencies in the subject will be tested through summative assessments. These assessments will help you to understand the current trends in the marketing world namely organisations shifting from using traditional marketing DNA (marketing tools) to new marketing DNA (marketing tools). You will apply both strands of DNA to an organisation and comment on application and marketing opportunities.
Formative assessments
Debriefing 1 - weeks 7 or 8 (or ongoing)
You will prepare a draft of your first assignment identifying an organisation which is using old marketing DNA and justify the suitability of the chosen company in preparation for summative assessment 1.
Group Debriefing Activity
You will work in groups to peer assess each other’s debriefs and offer critical input and feedback.
Debriefing 2 - weeks 20 or 21 (or ongoing)
You will prepare a presentation draft identifying an organisation which is using new marketing DNA and justify the suitability of the chosen company in preparation for summative assessment 2. Monitor progress and form strategies in preparation for the group presentation solution campaign.
Summative assessments
Assessment 1: Report 75% TMM (individual submission) 3,000 words maximum-Friday of week 9 (29/11/2019)
You will submit an individual report identifying an organisation that is incorporating old marketing DNA into their marketing operations. The report will identify key traditional marketing tools being used by the company, and assess their usefulness and effectiveness. You will also argue the case for the company applying new marketing DNA and offer practical recommendations.
As this is a small and probably quitter an unknown business, you are expected to conduct relevant primary research with management and customers particularly with regards to segmentation, targeting and positioning (STP) and the marketing mix.
Assessment 2: Presentation 25%TMM (group work)–submission to blackboard one day before presenting in week 22 or in week 23. Presentations- 10-15 minutes
You will deliver a group presentation solution campaign identifying an organisation which successfully incorporates new marketing DNA into its operations. You will build on issues which have been identified through summative assessment 1. You will also highlight the key benefits to the company and identify future marketing opportunities by introducing and discussing their own interpretations of new DNA and their effectiveness for the company.
You’re expected to conduct relevant secondary research.
MKT4A2- Assessment 1- Individual report details
Assessment 1: Report 75% TMM (individual submission) 3,000 words maximum- (10% leeway) Turnitin submission by Friday of week 9, 29th Nove ...
Title of the assignment. Use it in the front page and as your TakishaPeck109
Title of the assignment. Use it in the front page and as your initial heading in the paper.
Use it as a level one heading.
Level one heading: Centered, bolded, upper- and lower-case letters. (All of them).
Use it as a level two heading.
Level two heading: Left margin, bolded, upper and lowercase letters. (All of them).
The assignment should be in Word format. Use the APA style, 7th edition. At the left, the information for the front page. Do not include the instructions in the assignment. References are a must. Look for the information about APA style that I posted as a private message.
MKT/574 v1
Strategic Marketing Plan
MKT/574 v1
Page 2 of 2
Strategic Marketing PlanPart A: Environmental Analysis and SWOT Analysis
(Due in Wk 2)
Company Description
Describe the company you are designing the plan for. Include:
· Mission Statement
· Vision Statement
· Product line description
· Company information, such as the size of the company
Environmental Analysis
Analyze the forces that affect the company and marketing efforts. Competitive Forces
Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to compare your company against its competitors. Describe any strategic moves the competition has recently made. Estimate your market share. Identify key competitive advantages against your competitors.Economic Forces
Analyze the economic environment in the areas affecting your business. Consider differences within your industry and the economic impact on suppliers.Political Forces
Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or eliminate plastic waste in your county.Legal, Regulatory, and Ethical Issues
Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible increased regulation on direct mail.Technological Forces
Analyze whether your company will be affected by emerging technologies or trends in hardware and software industriesSocial Forces
Analyze social trends and how they may affect your business. Considerations may include if your business will be affected by demographic trends, a growing dependence on computers, or whether interest in your product might be affected by growing preferences in the way things are done or changing social values.
Current Target Markets
Define the company’s current target markets. Describe the demographic, geographic, psychographic, and product usage of these targets.
Review Current Marketing
Review the company’s current marketing tactics. Consider how people find out about the product, how they get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors’ current marketing.
SWOT Analysis
Assess your company’s strengths, weaknesses, t ...
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
2. 8-2
Understanding the Marketing Plan
Marketing plan - A written document stating
marketing objectives, strategies, and activities to be
followed in a business plan.
It is designed to provide answers to three basic
questions:-
Where have we been?: this segment focusing on some history of
the marketplace, market opportunities and threats (external). And
strengths and weaknesses of the firm (internal).
Where do we want to go (in the short term)?: this segment
addresses the marketing objective and primarily goals of the new
venture in the next 12 months.
How do we get there?: this segment discusses the specific
marketing strategy that will be implemented, when it will occur,
and who will be responsible for the monitoring activities.
3. 8-3
Characteristics of a Marketing Plan
A marketing plan should be designed in a way to
meet following criteria's:-
Provide a strategy to meet company mission or goal.
Be based on proper facts (marketing research) and valid
assumptions (considering available resources such as finance,
equipment, human resource, technology etc).
Describe an appropriate organization of the plan for
implementation of marketing activities.
Provide for continuity means short-term goals should be align to
achieve long tem marketing objectives.
Be simple and short but the plan should not be so short that details
on how to accomplish a goal is excluded.
Be flexible, means if scenarios changes then plan should have the
enough flexibility to incorporate counter strategies.
Specify organisation performance criteria that could be monitored
for control purpose such as 10% market share, 50% growth in
sales etc.
4. 8-4
Marketing Research for the New
Venture
Before making a Marketing plan need to do
some marketing research for the new
business venture which involves four steps
process (for detail see next slides):-
1.Defining the Purpose or Objectives
2.Gathering Data from Secondary Sources
3.Gathering Information from Primary
Sources
4.Analyzing and Interpreting the Results
5. 8-5
Marketing Research for the New
Venture (cont.)
Step One: Defining the Purpose or
Objectives
Make a list of the information that will be
needed to prepare the marketing plan.
Generally objectives are set to determine the
following:-
How much potential customers would be willing to pay
for the product or service?
Where potential customers would prefer to purchase
the product or service?
Where the customer would expect to hear about or
learn about such a product or service?
6. 8-6
Marketing Research for the New
Venture (cont.)
Step Two: Gathering Data from Secondary
Sources (data that already exists)
Secondary sources can include trade magazines,
newspaper articles, libraries, government
agencies, the internet, universities and
commercial data.
Considering Pakistan’s context information
regarding business sectors could be availed from
SMEDA, Chamber of commerce, SECP, and
SBP’s etc website.
7. 8-7
Step Three: Gathering Information from
Primary Sources (information that is new)
Data collection procedures are following:-
Observation: observe potential customers and record
some aspect of their buying behavior.
Networking: informal method to gather data from
experts in the field.
Interviewing: formal method of collecting data in
person, by telephone, or through mail or e-mail.
Focus groups: a group of 10-12 people invited to
participate in a discussion related to research objective.
Experimentation: in a laboratory setting observing a
certain phenomenon by controlling specific variables in
the research process.
Marketing Research for the New
Venture (cont.)
9. 8-9
Step Four: Analyzing and Interpreting the
Results
Results can be tabulated by hand or on a
computer.
Evaluation and interpretation should be based
on research objectives.
Cross-tabulated data can provide more focused
results.
Marketing Research for the New
Venture (cont.)
10. 8-10
The marketing system identifies the major
interacting components, both internal and
external to the firm, that enable the firm to
successfully provide products/services to
meet customer needs in the chosen market
place (see next figure)
The Marketing System
13. 8-13
External environment (cont.)
•The macroenvironment consists of broad environmental issues that may
impinge on the business. These include the economy, social/cultural issues,
technological changes, political/legal factors (PEST or STEP).
1.Economic forces: economic growth and unemployment, interest and
exchange rates, the growth of economic areas
2.Social/cultural forces: demographic forces, brought up culture , religious
forces, corporate social responsibilities and marketing ethics.
3.Technological forces: current technology, upcoming technology.
4.Political/legal forces: monopolies and mergers, codes of practices,
restrictive practices.
5.Physical forces (consumer movement to safeguard consumer rights): use of
environmental friendly ingredients, recyclable and non-wasteful packaging,
protection of the ozone layer, animal testing of new products, energy
conservation etc
14. 8-14
External environment (cont.)
•The microenvironment demands for analysing the market and competitors
to identify the potential threats and opportunities
•The market consists of statistical analysis of market (size, growth rates and
trends), customer analysis (who they are , what choice/criteria they use) and
distributors analysis (covering channel attractiveness studies, and influence
within distributors) and suppliers analysis.
•The competitor analysis examines the nature of actual and potential
competitors and their objectives and strategies, their strengths and
weaknesses, market share, size, and profitability considering industry.
Recommended analysis is Porters ‘five forces’.
16. 8-16
Internal environment
•In addition to external environmental factors, there are internal
environmental factors that are controllable to entrepreneur and are critical
for making marketing plan and its implementation while assuming
marketing strategy.
•Financial resources: availability of financial resources or funds to meet
the goals and objectives.
•Suppliers: who will be the supplier, suppliers terms and conditions,
pricing etc.
•Goals and objectives: goals and objectives of the business should be
defined considering mission statement (… a broadly defined, enduring
(continuity or long lasting) statement of purpose that distinguishes a business
from others of its type).
•Management team: availability of expertise in terms of personnel and
their job delegation to meet organisation’s objectives .
17. 8-17
The Marketing Mix
A combination of product, price, promotion,
and distribution and other marketing activities
needed to meet marketing objectives.
Variable Critical Decisions
Product
Quality of components or materials, style, features, options, brand name,
packaging, sizes, service availability, and warranties.
Price
Quality image, list price, quantity, discounts, allowances for quick
payment, credit terms, and payment period.
Channels of
distribution
Use of wholesalers and/or retailers, type of wholesalers or retailers, how
many, length of channel, geographic coverage, inventory, and
transportation.
Promotion
Media alternatives, message, media budget, role of personal selling, sales
promotion (displays, coupons, etc.), and media interest in publicity.
19. 8-19
Steps in Preparing the Marketing
Plan
Defining the Business Situation
Situation analysis - Describes past and present
business achievements of new venture.
In case of a new start-up; information should
relate to how and why the product or service
was developed.
After started up information should relate to:
Present market conditions.
Performance of the company’s goods and services.
Future opportunities or prospects.
20. 8-20
Defining the Target Market/ Opportunities
and Threats
The target market is specific group of potential
customers toward which the venture aims its
marketing plan.
Market segmentation - Dividing a market into
definable and measurable groups for purposes of
targeting marketing strategy.
Steps in Preparing the Marketing
Plan (cont.)
21. 8-21
Process of segmenting and targeting customers
Decide on general market or industry to pursue.
Divide market into smaller groups based on:
Characteristics of the customer – Geographic,
demographic (include gender, age, ethnicity,
knowledge of languages), and psychographic (study of
personality, values, opinions, attitudes, interests, and
lifestyles).
Buying situation – Desired benefits, usage, buying
conditions, and awareness of buying intention.
Select segment or segments to target.
Consider the strengths and weaknesses in the
target market.
Steps in Preparing the Marketing
Plan (cont.)
22. 8-22
Establishing Goals and Objectives
These are statements of level of performance
desired by new venture.
Realistic and specific marketing goals (SMART)
and objectives respond to the question: “Where
do we want to go?”.
Not necessarily all goals are quantifiable.
Limit the number of goals or objectives to
between six and eight (easy to pursue).
Goals should represent key areas to ensure
marketing success.
Steps in Preparing the Marketing
Plan (cont.)
23. 8-23
Defining Marketing Strategy and Action Programs
(Develop a marketing plan integrating product, price,
distribution (placement), and promotion)
Product/service
May consider more than the physical characteristics.
Involves packaging, brand name, price, warranty, image,
service, delivery time, features, style, and even the website
(IBM, DELL).
Pricing
Costs - Material costs, labor costs, cost of goods from
suppliers, labor and overhead expenses, etc.
Margins or markups - Expected to cover overhead costs and
some profit.
Competition.
Steps in Preparing the Marketing
Plan (cont.)
24. 8-24
Distribution
Provides utility to the consumer (internet, retail stores,
home delivery, bulk purchase).
Must also be consistent with other marketing mix
variables (e.g. sending expensive products through
registered mail services).
Promotion
To inform potential consumers about the product’s
availability or to educate the consumer.
Methods include print, radio, or television advertising,
Internet, direct mail, trade magazines, or newspapers.
The entrepreneur should consider costs and
effectiveness of the medium both in meeting the
market objectives.
Steps in Preparing the Marketing
Plan (cont.)
26. 8-26
Marketing Strategy: Consumer versus
Business-to-Business Markets
Business-to-business markets involves selling of
products or services to another business.
Usually aims at selling a large volume in one
transaction.
Involves a more direct channel of distribution.
Use trade magazine advertising, direct sales, and trade
shows.
Consumer markets involve sales to households
for personal consumption.
Steps in Preparing the Marketing
Plan (cont.)
27. 8-27
Budgeting and Implementation
Budgeting
Business operational and production costs should be
reasonably clear.
Assumptions if necessary should be clearly stated.
Useful in preparing the financial plan.
Implementation
The plan is meant to be a commitment by the
entrepreneur to a specific strategy.
Entrepreneur should ensure coordination and
implementation of the plan.
Steps in Preparing the Marketing
Plan (cont.)
28. 8-28
Monitoring the Progress of Marketing
Actions
Involves tracking results of the marketing effort.
Entrepreneur should prepare for contingencies.
Minor adjustments in the plan are normal;
significant changes indicate a poorly prepared
plan.
Weaknesses in market planning may be due to:
Poor analysis of the market and competitive strategy.
Unrealistic goals and objectives.
Poor implementation of the outlined plan actions.
Unforeseen hazards like weather or war.
Steps in Preparing the Marketing
Plan (cont.)