Marketing Plan

1. Marketing Plan

2. Marketing Plan • Explains the present and future situation of the firm • Gives specific expected outcomes • Describes specific plans and assigns responsibility for them • Identifies resources necessary for implementation • Outlines steps to monitor and measure results

3. II. Executive Summary • Should include a summary of each section of the marketing plan • Has to be a stand-alone document • Identifies key issues for management • Targeted changes in consumer knowledge, beliefs, behavior • Sales projections • Costs • Time line • Performance evaluation measures • Expected results

4. III. Table of Contents • Include all titles, subtitles, appendices, figures, tables, etc. • Use page numbers

5. IV. Product Statement • Describe the nonprofit organization and the product (i.e., the charge your client will give you) • Give background information and history of both the organization and the product

6. V. Situation Analysis/ Environmental Analysis • External Environment Analysis • Customer Environment Analysis • Internal Environment Analysis

7. A. External Environment Analysis • Industry Analysis • Competitive Forces • Technological Forces • Economic Situation • Political/Legal/Regulatory Factors • Cultural/Societal/Demographic Trends

8. 1) Industry Analysis • Current situation in industry • Size of particular nonprofit industry • Trends in the industry • Industry outlook • Success factors and failures • Other?

9. 2. Competitive Analysis –Competitive Forces • Brand competitors—similar products with similar benefits and prices, same customers (Florida Panther Society, Inc., Florida Panther Net, etc.) • Product competitors—same product class but different features, benefits, price (Defenders of Wildlife, Animal Welfare Institute, etc.) • Generic competitors—different products that satisfy same basic need (Florida Defenders of the Environment, the Conservancy of Southwest Florida, etc.) • Total budget competitors—looks to get the same limited financial resources (Red Cross, World Vision, etc.) Example: US Fish and Wildlife Service --- Florida Panther National Wildlife Refuge

10. 2. Competitive Analysis – Competing Behaviors • Charge is generally to sell a behavior (i.e., accept, change, abandon, or reject a certain behavior) and/or to provide knowledge or change beliefs • Identify, examine and describe the current behavior and its perceived benefits • Giving up current behavior is seen as a cost • The perceived benefits of the “new” behavior need to be at least equal to or exceed the perceived costs associated with giving up current behavior

11. 3. Technological Forces • New types of products (i.e., computers, digital products) • Processes by which tasks are accomplished (i.e., educating your target market)

12. 4. Economic Situation • Inflation • Employment and income levels • Interest rates • Taxes • Consumer confidence

13. 5. Political Trends, Legal Trends, and Regulatory Forces • Democrats versus Republicans – who creates policy • Current political trends concerning environmental protection • Consumer interest groups • Legal situation/laws • Down-listing of species

14. 6. Cultural Trends: Lifestyles • Decrease in leisure time • Cocooning • Home-based shopping • Clothing more casual • Increase in computer time • Minivans, SUV more popular • Interest in health and nutrition • Cleanliness less important

15. 6. Cultural Trends: Demographics • Aging Baby Boomers • New boomers – Gen Y • Increasing number of people living alone • Rise in single parent families • Rise in population diversity, more Asians • Increase in legal immigration • Declining middle class • More working women

16. 6. Cultural Trends: Cultural Values • Less conspicuous consumption • Value-oriented consumption • Increasing importance of families/children • Environmental awareness • Community participation/giving back to the community • Less tolerance of smoking in public places • More tolerance of varying lifestyles

17. B. Customer Environment Analysis • Focus on status quo – current target market! • Purpose is to learn from status quo.

18. B. Customer Environment Analysis—continued • Who are the current customers? • How many customers does the nonprofit serve? • Where do the customers purchase the nonprofit’s products? Where do they participate? • When do customers purchase the nonprofit’s products? • Why and how do customers select the nonprofit’s products? • Why do potential customers not purchase the nonprofit’s products?

19. 1. Customer Environment—Who? • Demographics? • Psychographics? • Geographics? • Is the purchaser the user? • Who influences the purchasing decision?

20. 2. Customer Environment–How Many? • How many customers do we serve? • What is the capacity to serve?

21. 3. Customer Environment—Where? • Where are the products purchased? • What types of intermediaries? • Influence of Electronic Commerce? • Non-Store buying—Home Shopping Network, catalogs, Internet?

22. 4. Customer Environment—When? • When are the products bought? • Frequency of purchasing? • Do promotional events affect purchase? • Does purchasing and consumption differ depending on changes in the physical/social surroundings, time perceptions, or the purchase task?

23. 5. Customer Environment—Why and How? • What are the basic need-satisfying benefits? • Does the competitor’s product fill a need the company has not considered? • Changes in customers’ needs? • How does the customer pay for the product? Cash, credit?

24. 6. Customer Environment—Non-customers • Potential customers do not buy because: • Needs not meet • Does not match lifestyle/image • Too expensive • Competitor’s products have better features/benefits • High switching costs • Do not know about the product • Poor distribution makes the product hard to find

25. C. Internal Environment Analysis • Identify the company’s strengths and weaknesses: • Level of available resources and skills • Past financial performance • Marketing strategies

26. C. Internal Environment Analysis –continued • Current marketing goals, objectives, marketing mix • Organizational culture and structure • Production capacity • Technical capabilities • Management/leadership

27. VI. SWOT Analysis • Internal Strengths and Weaknesses • External Opportunities and Threats Use SWOT Tables – posted on Blackboard

28. VII. Primary Research • Qualitative Research: Personal Interviews/Focus Group Interviews • Quantitative Research: Consumer Survey After having completed the primary research, you will probably need to go back and add to the Situation Analysis and the SWOT Analysis

29. A. Qualitative Research • Personal interviews and/or focus group interviews • Minimum of 10 consumers who are representative of your proposed (or assigned) target market. • Get client and instructor approval.

30. B. Quantitative Research • Consumer Survey • Minimum of 50 consumers who are representative of your proposed (assigned) target market. • Use the results of the environmental analysis, the SWOT analysis, the personal interviews/focus group interviews, and suggestions from your client as input for the development of this survey. • Get client and instructor approval.

31. VIII. Issues Analysis • Use the SWOT Analysis and the outcome of the primary research efforts to define the most important issues when trying “to sell the behavior in question.” • If the previous steps (situation analysis, SWOT analysis, primary research) have shown that previous efforts were unsuccessful, you should include the lessons to be learned as an issue.

32. VIII. Issues Analysis—continued • These are the kinds of questions you may ask: • Should the nonprofit focus on the charge in question? • What rate of growth is necessary and sustainable? • Does the organization need to increase promotion to thwart the competition or to successfully reach its target market?

33. VIII. Issues Analysis—continued • Does the organization need to develop new outreach efforts to reach the identified target market? • What would be the most promising way of communicating with the target market? • Does the organization need to increase the target market’s knowledge base? its belief system? • Does the nonprofit need to develop persuasive messages tailored to accept, change, abandon or reject targeted behaviors?

34. VIII. Issues Analysis—continued • Does the organization need to work on its reputation? • Is the nonprofit’s current distribution in order? • Should the nonprofit review its pricing strategy? • Does the organization anticipate any major competitive attacks in its current markets? • Does the organization need to recruit more volunteers?

35. VIII. Issues Analysis—continued • Does the organization have a problem with controlling and/or motivating its volunteers? • Does the nonprofit need to attract donors and/or donations? • Anything else? • Stay away from Non-issues! • Get your client’s input into the issues analysis.

36. IX. Goals and Objectives • Both goals and objectives need to be driven by the Issues Analysis. • Do not suggest goals and objectives that have not been discussed in your issues analysis!

37. IX. Goals and Objectives—continued • Goals—Broad, simple statements of what the marketing strategy will accomplish. They provide framework for the objectives. • Objectives—Specific, quantifiable measures that are tied to the SWOT analysis. E.g., the goal is to increase student support of USFSP Student Government. The objective is to increase student attendance at functions by10% in 2007.

38. IX. Goals and Objectives—continued • Goal 1 • Objective 1 • Objective 2 • Etc. • Goal 2 • Objective 1 • Objective 2 • Etc. • Etc.

39. X. Marketing Strategies A. Target Market Definition • Primary market B. Strategy Statement • Image/market position • Value proposition

40. A. Target Market Definition • This is the single most important part of the Marketing Plan. If not defined correctly, nothing else matters! • Primary Market • Segmentation methods: demographic, geographic, psychographic, benefits sought, usage. • Always use demographics and benefits sought. • You need to include the number of consumers in your target market!!!

41. Age (Be careful!) Family Size Family Life Cycle Gender Income Occupation Education Religion Race Generation Nationality Social Class Demographic Segmentation

42. Other Segmentation Bases • Benefits Sought • Is always important – why? • Psychographics • Attitudes, Interests, Opinions – reflect personality • Behavioral Segmentation • Occasion • Usage • Loyalty

43. B. Strategy Statement • Image/Market Position • Positioning is the act of designing the offering and image so that they occupy a meaningful and distinct competitive position in the minds of the target market. • How does the firm want the product to be positioned in the marketplace? How will the firm gain a sustainable competitive advantage? • Value (quality/price)

44. B. Strategy Statement – 2. Value Propositions

45. XI. Marketing Implementation: Action Plans and Marketing Mix BEFORE YOU WORK ON THE ACTION PLANS, CHECK WITH YOUR CLIENT ON THE TOTAL BUDGET YOU HAVE TO WORK WITH. Goal and Objective for each Action Plan. Target market. Marketing Mix activities necessary. Evaluation and measurement procedures to monitor performance of action plan. Specifics of plan implementation and financial projections.

46. XII. Marketing Budget • Objective and task method. • Rank action plans in order of importance. • Defend TOTAL budget amount. • Make sure your client approves the budget!

47. Final Steps XIII. What We Learned XIV. Bibliography • Minimum of 15 credible sources. • 15 different sources.

48. Final Presentation • The audience will include: • Your fellow students. • Your instructor. • Your clients. • A representative of USF’s Public Relations Department.