This document outlines the key components of developing a comprehensive marketing plan, including performing a market analysis, defining target markets and competitors, establishing marketing objectives, and developing a marketing strategy. The marketing strategy involves determining approaches for product differentiation, pricing, promotion, and distribution to gain a sustainable competitive advantage. The marketing mix of product, price, place, and promotion must be tailored to the target market and position the product or service appropriately within the market. Developing a strong marketing plan is essential for getting the strategy right and giving a company the edge over competition.

1. Marketing Plan Strategic Development Presentation
Transcript
 1. Developing a Marketing Strategy
Plan, Launch, Build Business Workshop® #501
 2. Workshop Overview
 3. What is a Marketing Plan
 4. Market Analysis
 5. 1. Market Size
What is the current market size?
How large is the potential market?
Is the market stable?
Where is the market heading?
How many prospects are potential customers?
How many companies are competing in the market?
 6. 2. Industry Trends
Changes in Package Size
Variations in Product/Service
Promotional Methods
Technological Changes
 7. Demographic
Psychographic
Use Based
Geographic
Benefits Sought
3. Market Segmentation
 8. Which of the segments can you best serve?
What is that segment’s needs?
4. Target Market
 9. The Marketing Environment
Current trends impacting the entire society and the way the product/service is marketed
make up the “marketing environment”
What are the current trends?
What is impacting our environment?
How is it impacting our products and services
 10. Consumer Analysis
Two types of individuals that purchase your products and services
Customers- a person or entity that buys your product/service but does not actually use it.
Consumers- The person or entity that actually puts your product to use.
Today we will look at the “Consumer”

2.  11. What type of product feature most appeal to these consumers?
What are the benefits that these features provide to the consumer?
How important are these features?
How are choices made between competing products?
What is their disposable income?
What is their decision making process
How important is “brand?”
What promotions does the consumer like?
What are their leisure time activities?
Factors Bearing on Your Typical Consumer
 12. What Is Your Current Position?
“If you don’t know where you are, it is impossible to know how to get to where you want
to be.”
 13. The Situational S.W.O.T. Test
Strengths-
What does the company/product better than the competition?
Weaknesses-
What does the company/product do that not as good as the competition?
Opportunities-
What area of the market could the company enter where there is a distinct advantage?
Threats-
What actions could threaten the product or standing in the market?
 14. Analyzing Your Competitors
Who are your top 3-5 competitors?
On what basis are you competing?
Same product, different prices?
Same product, different brand?
Different market segments
Are there “niches” within the market place where you are not directly targeted by
competition?
Think about the competition before implementing any marketing strategies.
 15. Marketing Objectives
Use the SMART system to make your marketing objectives clear:
Specific
Measurable
Attainable
Timebound
 16. Developing the Marketing Strategy- Two Options
 17. Strategies for Growth
 18. Strategies for Non-Growth
 19. Sustainable Competitive Advantage (SCA)
An SCA is a means of competing using the products and company assets that provide a
leverage or edge that is difficult to copy and is seen as advantageous by consumers.

3.  20. Characteristics of Successful Sustainable Competitive Advantage
They are substantial enough to make a difference in the market
Are sustainable with regard to environmental changes
Are difficult for competitors to replicate
Are leveraged into visible attributes that influence consumer decisions
Means by which to gain a sustainable competitive advantage include differentiation, low
cost, concentrated, niche
 21. Differentiation
The process of making a product or service novel through a benefit that is relevant to the
marketplace is a sustainable advantage.
 22. Differentiation- Examples
Product quality
Service quality
Brand name
Product features
Technical superiority
Distribution channels
Breadth of product line
The options for product differentiation is limited only by what the customer perceives to
be different and important
 23. Low Cost Strategy
This strategy relies on having the lowest cost in the industry at all times and thereby the
lowest price to be offered to the customer.
Any company employing a low cost and low price strategy must have the ability to match
and beat its competitors should a price war breakout
 24. No-frills product
Product design
Raw material source
Low-cost distribution
Labor cost advantage
Location advantage
Automation advantage
Reduced overheads
Experience in producing the product
Methods of Achieving a Low Cost Strategy
A low cost strategy is extremely difficult to sustain long-term
 25. Concentrated
The concentrated thrust focuses on one part of the market or product line only.
It allows a company to become an “expert” in that area.
It is generally a smaller segment of the market.
 26. Focus on product line
Targeting a segment
Geographical area
Focusing again low share competitors
Methods of Concentration

4.  27. Niche
Strategies focus on one particular, generally small, segment of the market
The segment is generally too small for a major competitor to engage
Niche strategies require that customers see a significant difference in the competitor and
see real value
 28. Product/Brand Positioning
Out of the strategy should come a unique positioning for the product
There should be a clearly developed product/brand positioning within the market
Positioning is the way in which consumers perceive the product/service with respect to
the rest of the market
Product positioning could take years to create and is difficult to change
 29. Product/Brand Positioning
Positioning can be based around such factors as:
A product attribute
A consumer benefit
A use or application of the product
A product class
The place of origin
The type of consumer
Competitive position in the market
 30. The Market Mix
The crux of any marketing strategies involves 4 elements known as the 4-Ps
Product
Price
Promotion
Place
 31. Product
Key product features and their benefit are paramount.
Key features include:
Features
Range
Branding
Packaging
Additional accessories
 32. Product- Service Based
For service based products, all aspects of presentation of the people providing the service
are important. This includes everything that is visible, such as:
Dressed in a formal fashion or a branded sports shirt
What your offices look like
Are the messages they convey complimentary to your product positioning
 33. Price
The price must conform to the product positioning
How important is price to the target market.
In most markets price in an indicator of quality – the higher the price the higher the
perceived quality
Price should be set by “what the market will bear”

5.  34. Price- 3 Important Factors
It is a wrong assumption that offering a better price gives a better value for the money.
Value for the money is a perception of the price compared to the benefits derived from
the product.
In most markets and to most people the price is far less important than the benefits
received from the product
 35. Types of Pricing
All types of pricing decisions should be considered and planned, including:
Standard price
Price specials
Discounts to the trade and distributors
Payment terms
Payment methods
 36. Promotion
Promotion is that element in the marketing mix that determines how you communicate
with customers and what tools or tactics are used to achieve the marketing objectives.
Knowing the buying behavior of the target market is very important.
What media do they view, how frequently and what is their reason for using it?
 37. The promotion mix must comply with the product positioning and should not
contradict in any way with the prescribed positioning.
Promotion
 38. Advertising
Sales promotions
Publicity
Personal selling
Events
Sponsorships
Direct selling
The internet & social media
Promotional materials
Brochures
Gifts
Promotion activities may include
 39. Communication Plan
This component of the strategy should focus on keeping existing customers and finding
new ones.
Components can include:
Web site
Email
Social Media: Twitter, Facebook
Blogging
Printed and electronic newsletters
 40. Distribution
While fairly well established, this element should not be overlooked.
Changes in the distribution channel or changes to the way in which you sell to the
channel can provide great opportunities.

6.  41. Distribution- Questions You Should Address
How and where will the product be placed so that the consumers have access to it and
how will the sale be made?
Will you be using wholesalers, distributors, retailers or going direct to the consumer?
Are a combination of distribution points appropriate?
The strategy for dealing with distribution points needs to be addressed the same way the
strategy for customers was developed
 42. Putting It All Together
Working through the whole process (if necessary with the help of marketing
professionals) is important to getting the strategy right. A good marketing strategy,
correctly implemented, will give your company the edge over the competition.