Marketing Plan Guide a Step by Step Guide - " Marketing Plan for Dummies "

nThe Marketing Plan

nPurpose

nSituation Analysis

nSWOT Analysis

nGoals

nMarketing Strategy

nMarketing Action Plans

nPurpose of The Marketing Plan

nInterpret Ambiguous Situations

nMake Assumptions Known

nAnalyze/Evaluate Data

nSet Goals & Make Projections

nIs a rigorous method that leads to Rational Decision Making

nRole of the Situation Analysis

nThe Situation Analysis gathers the data that is used in subsequent analyses

lData omitted at this point is often never considered

nCurrent Situation:
Market

nUnderstanding of the Overall Market

lWho are the users

lSize and growth

lWhat wants are being addressed

lVolatility of demand/wants

lHistory & future

lSubstitutes, areas for expansion

nCurrent Situation:
Competition

nDirect & Indirect

nCurrent & Potential:

lWho

lHow many

lHow large

lThreat level

lAnticipated actions

nCurrent Situation:
Macro-environmental

nCultural/Demographic Trends

nSocial/Lifestyle Trends

nEconomic Considerations

nLegal/Political Concerns

nPhysical Environmental Issues

nCurrent Situation:
Your Firm’s Past Performance

nGeneral Trends

lSBU performance

nMarket-based Accomplishments and Failures

lSkills gained or lost

nFuture Considerations

lAnticipated issues

nThe Situation Analysis Leads to the SWOT Analysis

nThe SWOT Analysis identifies the key issues a firm must consider to successfully compete in the industry/market being investigated.

nKey Issues

nElements of the SWOT ANALYSIS are:

lCompany Strengths

lCompany Weaknesses

lEnvironmental Opportunities

lEnvironmental Threats

nThese are best presented as a matrix.

nA SWOT Matrix ID’s:

nStrength—Opportunity Links

nThreat—Opportunity Conversions

nWeaknesses that must be Overcome

nGoals Follow From SWOT

nThe SWOT highlights possibilities and the resources needed to pursue them.

nGoals

nMarketing is how the firm meets many of its financial goals.

nGoals should include

lFinancial objectives

nRevenues

nLevel of Contribution

nReturn on Investment

lMarketing objectives

nShare

nDistribution/Coverage

nExpansion

lNew Products/Markets

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nMarketing Strategy

nIs how the plan’s goals are met.

nSets the confidence level that the goals will be met.

nMarketing Strategy

nProduct-Market Specification

lDescribes the users, the needs being fulfilled and the wants satisfied.

nMarket Segmentation

lID variables that can simplify the P-M by dividing it into homogeneous groups of users/potential users.

nMarketing Strategy

nTargeting

lDetermines which of the market segments you want to develop a marketing mix for

nPositioning

lIdentifies how you want the targeted market segment to think about your brand and offering relative to competitors’

nMarketing Action Plans

nAre what implement the marketing strategy—more specifically, are what implement its positioning objective.

nMarketing Action Plans

nProduct Strategy

lCreates form utility that meets needs and wants.

nPricing Strategy

lCreates value perceptions that impact demand.

nChannel Strategy

lCreates time & place utility.

nPromotion Strategy

lCreates awareness & preference

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