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C H A P T E R

1. C H A P T E R . Overview. Major Topics of Ch. 1. What is a Marketing Plan? Marketing Plan Sequence* Contents of A Typical Marketing Plan* Good and Bad in Marketing Planning Sources of Help for You. What is a (formal) marketing plan?.

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C H A P T E R

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  1. 1 C H A P T E R Overview

  2. Major Topics of Ch. 1 • What is a Marketing Plan? • Marketing Plan Sequence* • Contents of A Typical Marketing Plan* • Good and Bad in Marketing Planning • Sources of Help for You

  3. What is a (formal) marketing plan? A marketing plan is a written document containing the guidelines for the business unit’s marketing programs and allocations of resources over the planning period.

  4. Time Horizons for Marketing Plans

  5. Hierarchy of Planning Corporate Strategic Planning Group or sector planning SBU planning www.ge.com/ www.hp.com Annual marketing (business) plan

  6. Objectives of a Marketing Plan • To define the current business situation. • To identify problems and opportunities facing the business.* • To establish business objectives. • To define the strategies (e.g.,target market) and programs necessary to achieve the objectives.

  7. Objectives of a Marketing Plan (cont’). • To pinpoint responsibility for objectives. • To establish timetables and metrics for achieving objectives.* • To encourage careful and disciplined thinking.*** • To establish an outward (customer/competitor) orientation. * Two Approaches: Top-Down or Bottom-Up

  8. Collect data Analyze data Develop objectives, strategies, programs Develop financial documents Negotiate final plan* Measure progress toward objectives Audit Marketing Planning Sequence

  9. Marketing Plan Summary • Executive summary (Don’t forget this!) • Situation analysis • Industry analysis (should be on the industry, not a firm) • Sales analysis (Industry level) • Competitor analysis • Customer analysis • Planning assumptions • Sales Forecasts

  10. Marketing Plan Summary (con’t) • (Marketing) objectives • (Marketing) strategy** • Marketing programs (Marketing Mix)** • Financial documents • Monitors and controls (optional) • Contingency plans (optional)

  11. Frequent Mistakes in the Planning Process • The Speed of the Process • The Amount of Data/Information Collected • Who does the Planning? • The Structure • Length of the Plan: 20-30 Pages

  12. Frequent Mistakes in the Planning Process (cont) • Number of Courses of Action Considered* • Who Sees the Plan • Not Using the Plan as a Sales Document • Insufficient Senior Management Leadership • Not Tying Compensation to Successful Planning Efforts

  13. What Makes a Good Planning System? • Utilize experience from multiple managerial levels* • Employ internal and external sources of information* • Spend Sufficient Time* • Give Incentives for Good Planning*

  14. Sources of Help* • Planning Software • Marketing Plan Pro* www.paloaltosoftware.com • Some websites • www.bizcenter.org • www.brs-inc.com • www.startupjournal.com • Workshops • Tech Transfer Forum • Iowa SBDC and Pappajohn center • Previous Project Reports (in my office)*

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