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Recap and Review. Business 1201, Fall 2006 Dr. Katherine Gallagher. Marketing Plans in Successful Companies. Competitors can observe and rapidly imitate So marketing plans must emphasize: Marketing is a dialogue between the company and the customer That the company is listening

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Recap and Review

Business 1201, Fall 2006

Dr. Katherine Gallagher


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Marketing Plans in Successful Companies

  • Competitors can observe and rapidly imitate

  • So marketing plans must emphasize:

    • Marketing is a dialogue between the company and the customer

    • That the company is listening

  • Successful marketing plans are interactive

  • Successful marketing plans are integrated


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Essential Components

  • Organizational goals

  • Strategy for meeting goals

  • Implementation and monitoring


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Step 1:Describe the Business

  • Mission

  • Target market

  • Products

  • Image

    • Strengths

    • Weaknesses

  • Objectives


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Step 2:Analyze the Situation

  • Target Markets

    • What does the customer want?

    • What are the characteristics of the customer?

    • What alternatives does your customer have?

  • Competition

    • What does each competitor do well/poorly as far as the customer is concerned?

  • Changes in the marketing environment

    • What might happen if we do not make any changes to our current strategy?

    • What might happen if we capitalize on our strengths?

    • What might happen if our image slips?


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Step 3:Marketing Strategy

  • Position

    • Consumer perceptions

    • Relevant dimensions

    • Relative to competitors

  • Marketing mix

    • Product

    • Price

    • Distribution

    • Marketing communications

  • Measures of success


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Step 4:Organizing People

  • Critical roles, especially re customer contact

  • People needs:

    • Positions

    • Capabilities

    • Numbers needed

    • How to gain appropriate skills without increasing costs


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Step 5:Revenue and Expense

  • Project revenue produced by the plan

  • Explain money needed to deliver the projected return

  • Prioritize


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Step 6:Management Issues

  • What might or could go wrong?

    • Long term concerns

    • Short term concerns

  • If they go wrong, what will be affected?


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Step 7:Sell the Plan

  • Present the plan to everyone who helped with information and data

    • Say, show, discuss

    • Revise

  • Request review by leaders

    • Revise

  • Present to executives


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Step 8:Measure/Renew

  • Key result indicators

    • Develop measures of things that are critical to customers

    • Share results

    • Seek new ideas and input to improve performance


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Marketing Courses

  • Busi 2201 Marketing Applications

  • Busi 5200 Consumer Behavior

  • Busi 6200 Marketing Research

  • Busi 6210 Advertising Management

  • Busi 6220 Professional Selling & Sales Mgmt

  • Busi 6230 Services Marketing

  • Busi 7210 Retailing Management

  • Busi 7230 Marketing Management

  • Busi 7240 International Marketing

  • Busi 7250 Business and Industrial Marketing


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That’s All…

  • Thank you for being such a great class!

  • Best of luck on your exams!!

  • Have a safe and happy holiday!!!


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