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Writing a Marketing Plan

Writing a Marketing Plan. Sports and Entertainment Marketing. What is a Marketing Plan. A formal, written document that directs a company’s activities for a specific period of time Outlines the goals and objectives and how the business plans to achieve them. Why is a Marketing Plan Important?.

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Writing a Marketing Plan

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  1. Writing a Marketing Plan Sports and Entertainment Marketing

  2. What is a Marketing Plan • A formal, written document that directs a company’s activities for a specific period of time • Outlines the goals and objectives and how the business plans to achieve them

  3. Why is a Marketing Plan Important? • Provides a “road map” for how a product will enter the market, be advertised, and sold • Helps monitor a company’s performance

  4. START WITH…. SWOT Analysis • Assessment that list and analyzes the company’s strengths and weaknesses • Lists everything that can foster success or lead to failure of a business

  5. STENGTHS AND WEAKNESSES • Both are internal factors that affect business operation • Centers around the 3 C’s • Company – what does the company do well, where does it struggle, and the 5 P’s • Customers – who is the customer, how do they rate the quality • Competition – what is the market share, advantages and disadvantages over competition

  6. OPPERTUNITIES AND THREATS • Both are external factors that affect business operation • Competition – What are they doing, changes in financial situation • Political Changes – government involvement (new laws and regulations) • Economic Factors – recession vs. prosperity • Socio-Cultural Factors – (demographics) diversity, health issues, current events • Technology – may help some industries but hurt others ex: digital photography

  7. Writing a Marketing Plan • Parts of a Marketing Plan • Executive Summary • Description of Company/Organization – situation analysis • Objectives • Schedule of Events – marketing strategies/implementation • Responsibility Sheet • Budget • Statement of Benefits – evaluation and control

  8. EXECUTIVE SUMMARY • Brief overview of the entire plan • This should be written LAST • Can only be one page

  9. Description of Company • Explain company background • Take stock of where company has been • Where is it now – where is it headed • Discuss SWOT analysis here

  10. Objectives • What will you accomplish? • Must be • Single minded • Specific • Realistic • Measurable • Have a time frame

  11. Schedule of Events • What is the time frame of your campaign? • Remember 1-3 months • How are you going to promote the campaign? • Special events – fashion shows, theme nights, etc. • Advertising – print, online, on TV • Display – in store signage, layout • Publicity – press releases, positive buzz

  12. Responsibility Sheet • Who is responsible for each aspect of the promotional plan? • Only focus on THIS campaign, not overall • Create a chart for this section • Include all aspects of the campaign

  13. Budget • How much will your plan cost? • Create a spreadsheet that includes ALL aspects of the campaign • Don’t leave anything out • Find realistic prices for what you want to do

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