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Writing a Marketing Plan. Sports and Entertainment Marketing. What is a Marketing Plan. A formal, written document that directs a company’s activities for a specific period of time Outlines the goals and objectives and how the business plans to achieve them. Why is a Marketing Plan Important?. - PowerPoint PPT Presentation
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WRITING A MARKETING
PLAN
Sports and Entertainment Marketing
WHAT IS A MARKETING PLAN
A formal, written document that directs a company’s activities for a specific period of time
Outlines the goals and objectives and how the business plans to achieve them
WHY IS A MARKETING PLAN IMPORTANT?
Provides a “road map” for how a product will enter the market, be advertised, and sold
Helps monitor a company’s performance
SWOT ANALYSIS Assessment that list and
analyzes the company’s strengths and weaknesses
Lists everything that can foster success or lead to failure of a business
START WITH….
STENGTHS AND WEAKNESSES
Both are internal factors that affect business operation
Centers around the 3 C’s Company – what does the company do
well, where does it struggle, and the 5 P’s Customers – who is the customer, how
do they rate the quality Competition – what is the market share,
advantages and disadvantages over competition
OPPERTUNITIES AND THREATS Both are external factors that affect
business operation Competition – What are they
doing, changes in financial situation
Political Changes – government involvement (new laws and regulations)
Economic Factors – recession vs. prosperity
Socio-Cultural Factors – (demographics) diversity, health issues, current events
Technology – may help some industries but hurt others ex: digital photography
WRITING A MARKETING PLAN Parts of a Marketing Plan
Executive Summary
Description of Company/Organization – situation analysis
Objectives
Schedule of Events – marketing strategies/implementation
Responsibility Sheet
Budget
Statement of Benefits – evaluation and control
EXECUTIVE SUMMARY Brief overview of the entire plan This should be written LAST Can only be one page
DESCRIPTION OF COMPANY
Explain company background
Take stock of where company has been
Where is it now – where is it headed
Discuss SWOT analysis here
OBJECTIVES What will you accomplish? Must be
Single minded Specific Realistic Measurable Have a time frame
SCHEDULE OF EVENTS What is the time frame of your
campaign? Remember 1-3 months
How are you going to promote the campaign? Special events – fashion shows, theme
nights, etc. Advertising – print, online, on TV Display – in store signage, layout Publicity – press releases, positive buzz
RESPONSIBILITY SHEET Who is responsible for
each aspect of the promotional plan? Only focus on THIS
campaign, not overall Create a chart for this
section Include all aspects of the
campaign
BUDGET How much will your plan
cost? Create a spreadsheet that
includes ALL aspects of the campaign Don’t leave anything out Find realistic prices for what
you want to do
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