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THE MARKETING PLAN Lindell Phillip Chew LPC1umsl

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THE MARKETING PLAN Lindell Phillip Chew LPC1umsl

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    1. THE MARKETING PLAN Lindell Phillip Chew LPC1@umsl.edu DEVELOPING YOUR MARKETING PLAN FOR YOUR RESPONSIBILITY AREA Planning a question and answer process. The market plan asks and answers the question "HOW DO WE GET THERE FROM BERE?" (Just like planning a family trip/vacation.) REMEMBER HOW A AAA TRIP TIX WORKS FOR YOU ON A VACATION.!!!!! Planning a question and answer process. The market plan asks and answers the question "HOW DO WE GET THERE FROM BERE?" (Just like planning a family trip/vacation.) REMEMBER HOW A AAA TRIP TIX WORKS FOR YOU ON A VACATION.!!!!!

    2. MY MARKETING PLAN OPPORTUNITYISNOWHERE!!!!!!!!!!!!

    3. DEVELOPING YOUR MARKETING PLAN Planning a question and answer process. The market plan asks and answers the question "HOW DO WE GET THERE FROM HERE?" (Just like planning a family trip/vacation.) REMEMBER HOW A AAA TRIP TIX WORKS FOR YOU ON A VACATION.!!!!!

    4. WHERE are we new? WHEN are we leaving? WHERE should we go? WHO will do the driving WHERE have we decided to go? WHY are we going? WHAT are the conditions which may affect us? HOW are we going? HOW much will the trip cost? HOW will we meet our progress WHAT is our plan for alternate routes? against our schedule? (contingency plan)

    5. THE TRIP WHERE are we new? WHEN are we leaving? WHERE should we go? WHO will do the driving WHERE have we decided to go? WHY are we going? WHAT are the conditions which may affect us? HOW are we going? HOW much will the trip cost? HOW will we meet our progress WHAT is our plan for alternate routes? against our schedule? (contingency plan)

    6. An OPERATIONAL (ONE YEAR) MARKETING PLAN……….. identifies strategies and responsibilities for implementing action programs to achieve desired results. (FISCAL YEAR,CALENDAR YEAR, NEXT 12 MONTHS)

    7. LENGTH MARKETING PLANS MAY ALSO BE INTERMEDIATE (1-5 YEARS) AND LONG RANGE (STRATEGIC - EXTENDED BEYOND FIVE YEARS)

    8.

    9. LET’S BE PRACTICAL AIM - Establishing Objectives then Accomplishing Them. ORGANIZATION ……. 1. Prepare marketing plan in a loose leaf notebook form. 2. Number all pages. 3. Give date(s): when prepared, time period covered. 4. Identify author(s). 5.Type double spaced with wide margins. 6. Index: Use headings and subheadings liberally and divide with tabs.

    10. Plan should be comprehensive but not complicated. CONTENTS 1. Plan should be COMPREHENSIVE but NOT complicated. 2. Persons not involved in the authorship SHOULD be able to follow the planning logic and readily ascertain their responsibilities. There are SIX steps in developing an operational marketing plan.

    11. WELCOME ABOARD

    12. Six steps in developing an operational marketing plan. There are six steps in developing an operational marketing plan. 1. PREPARE COMPREHENSIVE FACT BASE 2. LIST PROBLEMS AND OPPORTUNITIES 3. STATE SPECIFIC OBJECTIVES (FIRST STATE YOUR ASSUMPTIONS) 4. DEVELOP STRATEGY 5. ESTABLISH BUDGET 6. PROJECT SALES AND PROFIT

    13. YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!

    14. Detailing the six steps… 1. PREPARE COMPREHENSIVE FACT BASE

    15. FACTBASE *1ST.... GENERAL BUSINESS PURPOSE WE ARE IN THE BUSINESS TO CREATE AND SERVICE OUR CLIENTS…… WE……………………… THIS PLAN COVERS….

    16. 1.PREPARE COMPREHENSIVE FACT BASE *1ST.... GENERAL BUSINESS PURPOSE SALES MARKETS TRENDS PRODUCTS, SERVICES COMPETITION DELIVERY INVENTORY DISTRIBUTION, SALES FORCE CUSTOMER AITITUDES CUSTOMER COMMUNICATIONS

    17. 1.PREPARE COMPREHENSIVE FACT BASE SALES and PROFITS 12 MONTHS RUNNING 3-5 YEARS

    18. 1.PREPARE COMPREHENSIVE FACT BASE MARKETS TRENDS PRODUCTS, SERVICES

    19. 1.PREPARE COMPREHENSIVE FACT BASE COMPETITION The competitive landscape Provide an overview of product competitors, their strengths and weaknesses Position each competitor’s product against new product

    20. 1.PREPARE COMPREHENSIVE FACT BASE DELIVERY INVENTORY DISTRIBUTION, SALES FORCE CUSTOMER ATTITUDES CUSTOMER COMMUNICATIONS

    21. 2. LIST PROBLEMS AND OPPORTUNITIES +++++++++++ ---------------------

    22. 2. LIST PROBLEMS AND OPPORTUNITIES IDENTIFY PROBLEMS ….HURDLES DEVIATIONS FROM ANTICIPATED DETERENTS TO THE SMOOTH OBSTACLES TO GOALS

    23. IDENTIFY PROBLEMS DEVIATIONS FROM ANTICIPATED DETERENTS TO THE SMOOTH OBSTACLES TO GOALS

    24. PROBLEMS PROBLEM VS SYMPTOM INDUSTRY & COMPANY *SOLVABLE SOLVING PROBLEMS NO CONTROL

    25. ANALYZE 2. LIST PROBLEMS AND OPPORTUNITIES (CONT.) OPPORTUNITIES - EXPLOITABLES WHAT IS ...... WHERE TO LOOK ………

    26. 3. STATE SPECIFIC OBJECTIVES –

    27. 3. STATE SPECIFICS OBJECTIVES – \ FIRST….STATE YOUR ASSUMPTIONS

    28. 3. STATE SPECIFIC OBJECTIVES –

    29. FORMULATE OBJECTIVES * SPECIFIC * QUANTIFY

    30. Success Metrics First year goals Additional year goals Measures of success/failure Requirements for success

    31. 4. DEVELOP STRATEGY SPECIFIC ACTIVITIES YOUR CALL TO ACTION RESPONSIBITY ASSIGNMENTS DEADLINES PRIORITIES RESOURCES

    32. ELEMENTS 1. MARKET TARGETS 2. THE MARKETING MIX (THE 5 P’S) PRICE PRODUCT PLACE PROMOTION POLITICS

    33. ELEMENTS 1. MARKET TARGETS THE MARKETING MIX (THE 5 P’S) PRICE PRODUCT PLACE PROMOTION POLITICS

    34. Product Positioning Positioning of product or service Statement that distinctly defines the product in its market and against its competition over time Consumer promise Statement summarizing the benefit of the product or service to the consumer

    35. Product Packaging & Fulfillment Product packaging Discuss form-factor, pricing, look, strategy Discuss fulfillment issues for items not shipped directly with product COGs Summarize Cost of Goods and high-level Bill of Materials

    36. Promotional (Communication) Strategies Messaging by audience Target consumer demographics

    37. Product Launch Strategies Launch plan If product is being announced Promotion budget Supply back up material with detailed budget information for review PHASES 1, 2, 3,4

    38. Public Relations Strategy & execution PR strategies PR plan highlights Have backup PR plan including editorial calendars, speaking engagements, conference schedules, etc.

    39. Advertising Strategy & execution Overview of strategy Overview of media & timing Overview of ad spending

    40. Other Promotion Direct marketing Overview of strategy, vehicles & timing Overview of response targets, goals & budget Third-party marketing Co-marketing arrangements with other companies Marketing programs Other promotional programs

    41. Pricing Pricing Summarize specific pricing or pricing strategies Compare to similar products Policies Summarize policy relevant to understanding key pricing issues

    42. Place-Distribution Distribution strategy Channels of distribution Summarize channels of distribution Distribution by channel Show plan of what percent share of distribution will be contributed by each channel -- a pie chart might be helpful

    43. Vertical Markets/Segments Vertical market opportunities Discuss specific market segment opportunities Address distribution strategies for those markets or segments Address use of third-party partner role in distribution to vertical markets

    44. International International distribution Address distribution strategies Discuss issues specific to international distribution International pricing strategy Localization issues Highlight requirements for local product variations

    45. Product Schedule 12-month schedule highlights Timing Isolate timing dependencies critical to success

    46. STRATEGY ANALYSIS AND EVALUATION 1. INTERNAL COMPATIBILITY 2. EXTERNAL COMPATIBILITY 3. RESOURCE AVAILABILITY 4. RISK FACTOR

    47.

    48. $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$ YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!

    49. STRATEGY (CONT) THREE MUSTS * MEET DEADLINES * CONTROL PERFORMANCE *ALLOCATE RESOURCES

    50. STRATEGY MUST CALL FOR IMMEDIATE ACTION. OTHERWISE IT IS ONLY A STATEMENT OF INTENT. *DEVELOP ALTERNATIVE STRATEGIES FUNCTIONAL INTERDEPENDENCE

    51. 5. ESTABLISH BUDGET BUDGET FOLLOWS STRATEGY $$$$$$$$$$$$,RESOURCES & TIME!!!!!!!!

    52. BUDGET FOLLOWS STRATEGY MARKETING COSTS order getting, filing ESTABLISH mechanical, task & objective, cooperative

    53. BUDGET (CONT) DECISIONS,,, MONEY$$$$$$$$$??????? ORGANIZE by MARKETING FUNCTION VERSATILITY and CONTROL EXERCISING CONTROL IS MANAGING

    54. 6. PROJECT SALES AND PROFIT FORECAST CONTROL UNITS major and sub control units

    55. IMPLEMENT IMMEDIATELY REVIEW YOUR MARKETING PLAN AT LEAST MONTHLY!!!! $$$$$$$$$$$$$$$

    56. OPPORTUNITYISNOWHERE!!!!!!!!!!!!!!!! GO FOR IT THIS CONCLUDES MY PRESENTATION

    57. THE MARKETING PLAN Lindell Phillip Chew LPC1@umsl.edu YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!

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