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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

Recap and Review

Business 1201, Fall 2006

Dr. Katherine Gallagher

marketing plans in successful companies
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
essential components
Essential Components
  • Organizational goals
  • Strategy for meeting goals
  • Implementation and monitoring
step 1 describe the business
Step 1:Describe the Business
  • Mission
  • Target market
  • Products
  • Image
    • Strengths
    • Weaknesses
  • Objectives
step 2 analyze the situation
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?
step 3 marketing strategy
Step 3:Marketing Strategy
  • Position
    • Consumer perceptions
    • Relevant dimensions
    • Relative to competitors
  • Marketing mix
    • Product
    • Price
    • Distribution
    • Marketing communications
  • Measures of success
step 4 organizing people
Step 4:Organizing People
  • Critical roles, especially re customer contact
  • People needs:
    • Positions
    • Capabilities
    • Numbers needed
    • How to gain appropriate skills without increasing costs
step 5 revenue and expense
Step 5:Revenue and Expense
  • Project revenue produced by the plan
  • Explain money needed to deliver the projected return
  • Prioritize
step 6 management issues
Step 6:Management Issues
  • What might or could go wrong?
    • Long term concerns
    • Short term concerns
  • If they go wrong, what will be affected?
step 7 sell the plan
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
step 8 measure renew
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
marketing courses
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
that s all
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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