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The Marketing Plan
The Marketing PlanPresentation OverviewPurposeSituation AnalysisSWOT AnalysisGoalsMarketing StrategyMarketing Action Plans
Purpose of The Marketing PlanInterpret Ambiguous SituationsMake Assumptions KnownAnalyze/Evaluate DataSet Goals & Make ProjectionsIs a rigorous method that leads to Rational Decision Making
Role of the Situation AnalysisThe Situation Analysis gathers the data that is used in subsequent analyses
Data omitted at this point is often never considered
Current Situation: MarketUnderstanding of the Overall MarketWho are the usersSize and growthWhat wants are being addressedVolatility of demand/wantsHistory & futureSubstitutes, areas for expansion
Current Situation: CompetitionDirect & Indirect Current & Potential:WhoHow manyHow largeThreat levelAnticipated actions
Current Situation: Macro-environmentalCultural/Demographic TrendsSocial/Lifestyle TrendsEconomic ConsiderationsLegal/Political ConcernsPhysical Environmental Issues
Current Situation: Your Firms Past PerformanceGeneral TrendsSBU performance
Market-based Accomplishments and FailuresSkills gained or lost
Future ConsiderationsAnticipated issues
The Situation Analysis Leads to the SWOT AnalysisThe SWOT Analysis identifies the key issues a firm must consider to successfully compete in the industry/market being investigated.
Key IssuesElements of the SWOT ANALYSIS are:Company StrengthsCompany WeaknessesEnvironmental OpportunitiesEnvironmental Threats
These are best presented as a matrix.
A SWOT Matrix IDs:
StrengthOpportunity LinksThreatOpportunity ConversionsWeaknesses that must be Overcome
Goals Follow From SWOTThe SWOT highlights possibilities and the resources needed to pursue them.
GoalsMarketing is how the firm meets many of its financial goals.Goals should includeFinancial objectivesRevenuesLevel of ContributionReturn on InvestmentMarketing objectivesShareDistribution/CoverageExpansionNew Products/Markets
Marketing StrategyIs how the plans goals are met.Sets the confidence level that the goals will be met.
Marketing StrategyProduct-Market SpecificationDescribes the users, the needs being fulfilled and the wants satisfied.
Market SegmentationID variables that can simplify the P-M by dividing it into homogeneous groups of users/potential users.
Marketing StrategyTargetingDetermines which of the market segments you want to develop a marketing mix for
PositioningIdentifies how you want the targeted market segment to think about your brand and offering relative to competitors
Marketing Action PlansAre what implement the marketing strategymore specifically, are what implement its positioning objective.
Marketing Action PlansProduct StrategyCreates form utility that meets needs and wants.
Pricing StrategyCreates value perceptions that impact demand.
Channel StrategyCreates time & place utility.
Promotion StrategyCreates awareness & preference