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DESCRIPTION
Linking together a company’s approach to product development, target marketing, pricing and all the other marketing cum sales initiatives needed for business success has to be done through good disciplined planning. This session focuses on how you will achieve this for your business in order to give it a strong potential foundation for development.
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Putting Together A Meaningful Plan Which
Sets and Reviews Targets To Confirm Development Success
Date: 9th September 2010
Facilitator: Sammy Rose MBA, MCIMChartered Marketer
Mentor: Maxine Ward, BA Event Mgt, DipM MCIM
1
2
ROUND UP
3
Setting The Objective
4
Make Sure Your Objective Is SMART
Strategic
Measurable
Achievable
Realistic
Targeted & Timeframed
5
Setting Out Your Plan
Objective
Appraisal
� Customer/Consumer Make Up
� Competitor Analysis
� Cost & Distribution Processes
Strengths•Knowledge & Expertise•Establishment•Product Quality•Product Definition•Service & Accessories•Image•Pricing Policy•Customer Focus•Planning
Weaknesses•Manpower Resources•Financial Resources•Knowledge & Expertise•Lack of Customer Focus•Product Orientated•Pricing Policy•Image•Sales/After Sales Support•Planning
Opportunities•Government Legislation•Industry Standards•Monopolies•Market Niches•Changes in Customer Attitudes•Exports•New Technology
Threats•Government Legislation•Industry Codes of Conduct•Barriers to Entry•Price Wars•Changes in Customer Attitudes•Imports•New Technology
SWOT Chart
6
7
Setting Out Your Plan
Objective
Appraisal
� Customer/Consumer Make Up
� Competitor Analysis
� Cost & Distribution Processes
Strategy
� Product Proposition
� Target Audience
� Pricing Strategy
� Promotional Campaign
Threats & Opportunities
Financial Expectation
Action & Timeframe
Setting Out Your Plan
8
Hig
hLo
w
High Low
Pote
ntial/A
ctu
al S
ale
s/M
ark
et S
hare
Product/Customer Matrix
Potential/Actual Contribution To Turnover
9
?
GIVING A PRODUCT ATTRIBUTES
Packaging
BrandFunctions
Colour
Appearance
Price
Size
Delivery
Extended
Warranty
Warranty
Satisfaction Guarantee
Range
Compatibility
Merchandise
Finance
Core Product
Optional
Extras
10
11
Setting Out Your Plan
Strategy
� Product Proposition
� Target Audience
� Pricing Strategy
� Promotional Campaign
Threats & Opportunities
Financial Expectation
Action & Timeframe
B2C Business To Customer/ConsumerAccommodation Occupation
12
Target Audiences
B2B Business To Business
•S.I.C. Code
•Turnover
•Number of Employees
•Geography
FEMALES %
Males %
AGE
60+
45-59
30-44
20-29
16-19
<16
COUNCIL
PRE 1940`S
DETACHED
MODERN
SEMI/TERRACED
MODERN
DETACHED
RENTED
OWNED
OTHER
STUDENT
RETIRED
HOUSEWIVES
BLUE COLLAR
WHITE COLLAR
MANAGEMENT
PROFESSIONAL
OTHER DETAILS:
13
Setting Out Your Plan
Strategy
� Product Proposition
� Target Audience
� Pricing Strategy
� Promotional Campaign
Threats & Opportunities
Financial Expectation
Action & Timeframe
BRAND MAPPINGHigh Price
Low Price
Low
Quality High
Quality
Rip off & false economy strategies
High Value Strategy
Premium Strategy
Good Value Strategy
Average Strategy
Economy Strategy
Superb Value Strategies
14
xx
x
xx
xx
xx
xx xx
xx
xx
x
x
SETTING THE PRICE POSITION
PRICE
PR
OD
UC
T Q
UA
LIT
Y
Low
M
ed
ium
H
igh
High Medium Low
Premium
Strategy
High Value
Strategy
Superb Value
Strategy
Over-charging
Strategy
Average
StrategyGood Value
Strategy
Rip Off
Strategy
False Economy
Strategy
Economy
Strategy
15
1 2 3
4 5 6
7 8 9
16
Setting Out Your Plan
Strategy
� Product Proposition
� Target Audience
� Pricing Strategy
� Promotional Campaign
Threats & Opportunities
Financial Expectation
Action & Timeframe
A A WARENESS
I I NTEREST
D D ESIRE
A A CTION
17
18
Setting Out Your Plan
Objective
Appraisal
� Customer/Consumer Make Up
� Competitor Analysis
� Cost & Distribution Processes
Strategy
� Product Proposition
� Target Audience
� Pricing Strategy
� Promotional Campaign
Threats & Opportunities
Financial Expectation
Action & Timeframe
?
FACTORS AFFECTING PRICE
Legal
ConstraintsCosts Objectives
Consumer
Attitudes
Company’s
Market
Profile
Differentials Potential
CompetitorsCompetitors
PRICE
19
Target Market Share
20
10%
6%
3%
2%
2%3%
3%
3%
2%
20%
10%
10%
10%
2%
7%
21
Setting Out Your Plan
Objective
Appraisal
� Customer/Consumer Make Up
� Competitor Analysis
� Cost & Distribution Processes
Strategy
� Product Proposition
� Target Audience
� Pricing Strategy
� Promotional Campaign
Threats & Opportunities
Financial Expectation
Action & Timeframe
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