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Cpas review 2013-2014. MARKETING CHAPTER 2—THE MARKETING PLAN. Chapter 2. the marketing plan. Section 2.1 Marketing Planning. Section 2.2 Market Segmentation. Marketing Planning. Section 2.1. SWOT analysis PEST analysis marketing plan executive summary situation analysis

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cpas review 2013 2014

Cpas review2013-2014

MARKETING

CHAPTER 2—THE MARKETING PLAN

slide2

Chapter 2

the marketing plan

Section 2.1

Marketing Planning

Section 2.2

Market Segmentation

marketing planning
Marketing Planning

Section 2.1

  • SWOT analysis
  • PEST analysis
  • marketing plan
  • executive summary
  • situation analysis
  • marketing strategy
  • sales forecasts
  • performance standard
marketing planning1
Marketing Planning

Section 2.1

Marketing Plan

marketing planning2
Marketing Planning

Section 2.1

Marketing Plan

marketing planning3
Marketing Planning

Section 2.1

SWOT Analysis

prepares a company for competition or a changing marketplace

SWOT

Analysis

provides guidance and direction for future marketing strategies

SWOT analysis

An assessment of a company’s strengths and weaknesses and the opportunities and threats that surround it; SWOT: strengths, weaknesses, opportunities, threats.

marketing planning4
Marketing Planning

Section 2.1

SWOT Analysis

prepares a company for competition or a changing marketplace

SWOT

Analysis

provides guidance and direction for future marketing strategies

SWOT analysis

marketing planning5
Marketing Planning

Section 2.1

SWOT Analysis

marketing planning6
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

The three C’s of internal analysis

C

ompany

Strengths and weaknessesare internal factors that affecta business’s operation.

C

ustomers

C

ompetition

marketing planning7
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

The three C’s of internal analysis

C

C

C

marketing planning8
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

marketing planning9
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

marketing planning10
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

marketing planning11
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

marketing planning12

.

Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

marketing planning13
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

marketing planning14
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

.

marketing planning15
Marketing Planning

Section 2.1

Internal Strengths and Weaknesses

.

marketing planning16
Marketing Planning

Section 2.1

PEST Analysis

Political

Economic

Four Factors of a PEST Analysis

Socio-Cultural

Technological

PEST analysis

Scanning of outside influences on an organization.

marketing planning17
Marketing Planning

Section 2.1

PEST Analysis

Political

Economic

Four Factors of a PEST Analysis

Socio-Cultural

Technological

PEST analysis

marketing planning18
Marketing Planning

Section 2.1

PEST Analysis

PoliticalIssues

Government affects business operations

  • Recession
  • Unemployment
  • Currency Rates
  • Import Pricing
  • Trade Restrictions

EconomicIssues

Socio-Cultural Factors

Changes in attitudes, lifestyles, and opinions provide opportunities and threats

Companies must embrace technology and innovate to stay competitive

Technology

marketing planning19
Marketing Planning

Section 2.1

PEST Analysis

PoliticalIssues

EconomicIssues

Socio-Cultural Factors

Technology

marketing planning20
Marketing Planning

Section 2.1

PEST Analysis

Economic Factors

marketing planning21
Marketing Planning

Section 2.1

Writing a Marketing Plan

ExecutiveSummary

executive summary

A brief overview of the entire marketing plan.

SituationAnalysis

situation analysis

The study of the internal and external factors that affect marketing strategies

Elements of aMarketing Plan

Objectives

MarketingStrategies

Implementation

marketing strategies

Strategy that identifies target markets and sets marketing mix choices that focus on those markets

Evaluation and Control

marketing planning22
Marketing Planning

Section 2.1

Writing a Marketing Plan

ExecutiveSummary

executive summary

SituationAnalysis

situation analysis

Elements of aMarketing Plan

Objectives

MarketingStrategies

Implementation

marketing strategies

Evaluation and Control

marketing planning23
Marketing Planning

Section 2.1

Writing a Marketing Plan

Marketing Plan Objectives

marketing planning24
Marketing Planning

Section 2.1

Writing a Marketing Plan

market segmentation
Market Segmentation

Section 2.2

The key to marketing is to know your customer or target market. Market segmentation helps identify the target market.

market segmentation1
Market Segmentation

Section 2.2

The key to marketing is

Market segmentation helps

market segmentation2
Market Segmentation

Section 2.2

  • market segmentation
  • demographics
  • disposable income
  • discretionary income
  • geographics
  • psychographics
  • mass marketing
market segmentation4
Market Segmentation

Section 2.2

Types of Segmentation

Demographic

Geographic

Psychographic

Behavioral

Age

Gender

Income

Marital status

Ethnic background

Local

State

Regional

National

Global

Attitudes

Opinions

Interests

Activities

Personality

Values

Shopping Patterns

Decision-making process

demographic

Statistics that describe a population in terms of personal characteristics such as age, gender, income, marital status, and ethnic background.

psychographic

Grouping people with similar attitudes, interests, and opinions, as well as lifestyles and shared values.

market segmentation5
Market Segmentation

Section 2.2

Types of Segmentation

Demographic

Geographic

Psychographic

Behavioral

demographic

.

psychographic

.

market segmentation6
Market Segmentation

Section 2.2

Types of Segmentation

Labels Used to Segment by Generation

Baby Boom Generation

Generation X

Generation Y

market segmentation7
Market Segmentation

Section 2.2

Types of Segmentation

Labels Used to Segment by Generation

Baby Boom Generation

Generation X

Generation Y

market segmentation8
Market Segmentation

Section 2.2

Types of Segmentation

Income

DisposableIncome

DiscretionaryIncome

disposable Income

Money left after taking out taxes.

discretionary income

Money left after paying for basic living necessities such as food, shelter, and clothing.

market segmentation9
Market Segmentation

Section 2.2

Types of Segmentation

Income

DisposableIncome

DiscretionaryIncome

disposable Income

discretionary income

market segmentation10
Market Segmentation

Section 2.2

Types of Segmentation

80 percent of a company’s sales...

are generated by 20 percent of its loyal customers

market segmentation11
Market Segmentation

Section 2.2

Types of Segmentation

market segmentation12
Market Segmentation

Section 2.2

Mass Marketing Vs. Segmentation

Mass Marketing

Advantages

Disadvantage

  • Economics of scale
  • Simplified marketing plan
  • Competitors can identifyunmet needs and wantsand then steal customers

mass marketing

Using a single marketing strategy to reach all customers.

market segmentation13
Market Segmentation

Section 2.2

Mass Marketing Vs. Segmentation

Mass Marketing

Advantages

Disadvantage

mass marketing

Using a single marketing strategy to reach all customers.

market segmentation14
Market Segmentation

Section 2.2

Mass Marketing Vs. Segmentation

Niche Marketing

Advantages

Disadvantage

  • Extremely precise
  • Increased chance forsuccess
  • Cost
    • Research
    • Production
    • Packaging
    • Advertising
market segmentation15
Market Segmentation

Section 2.2

Mass Marketing Vs. Segmentation

Niche Marketing

Advantages

Disadvantage