The Marketing Plan

Chapter #2

Driving Directions

If we were all going to Disney Land today and you were driving what would you do first?Do you know exactly how to get to Disney

Land?Who would you ask for help?

SWOT Analysis

Good marketing relies on a good plan.

S= Strengths W= Weaknesses O=Opportunities T= Threats

An accurate analysis will help a company be more competitive and provide better guidance.

Internal Strengths and Weaknesses

Centers around –Company, Customer, and Competition

Company Analysis

Staff Related Financial Questions Production Capabilities Marketing Mix (product, place, price,

promotion)

Customer Analysis

Who are they? What, when, where and how much they

buy? Satisfaction

Competitive Position

Market Share Advantages over competition Core competencies – Reputation

External Opportunities and Threats

Competitive advantage due to external factorsCompetitionEnvironmental ScanPoliticalEconomicSocio CultureTechnological

Writing a Marketing Plan

A formal written document that directs a company’s activities for a specific period of time. It provides a road map to follow.

Elements of a Marketing Plan

Executive Summary – Overview of the entire plan.

Situation Analysis – SWOT Goals and Objectives – What this plan will

accomplish. Marketing Strategies – Identifies target

markets and sets marketing mix

Elements of a Marketing Plan CONT… Implementation – Make the plan, work the

plan – Getting a plan into action Evaluation and Control – Measure and

evaluation of the plan Performance standards and evaluation Appendix Conclusion

Market Segmentation

The process of classifying people who form a given market into even smaller groups.DemographicsGeographicsPsychographics

Demographics

Statistics that describe a population in terms of personal characteristics.Age –Boomers, Gen X, Gen YGender IncomeMarital StatusEthnic Background

Geographics

Refers to segmentation of the market based on where people live

Psychographics

Activities Attitudes Personality and Values

Behavioral

Shopping patterns, usage rate

Mass Marketing Vs Segmentation