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Marketing Plan

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Marketing Plan. Industry Analysis. Industry Analysis National/local trends Competitor Analysis Who are our competitors? What are their strategies?. Market Research. Define the Purpose or Objectives Gathering Information from Secondary Sources Gathering Information from primary Sources

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Marketing Plan

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Presentation Transcript

  1. Marketing Plan

  2. Industry Analysis • Industry Analysis • National/local trends • Competitor Analysis • Who are our competitors? • What are their strategies?

  3. Market Research • Define the Purpose or Objectives • Gathering Information from Secondary Sources • Gathering Information from primary Sources • Observation, networking, interviews, experiments, focus groups • Analyzing and Interpreting Results

  4. Understanding the Marketing Plan • Road map • Where have we been? • Where do we want to go? • How do we get there?

  5. Characteristics of Marketing Plan • Provide Strategy for Goals or Mission Statement • Base on fact and valid assumptions • Describe organization to implement • Provide continuity • Size • Include “what if” scenarios • Performance criteria

  6. Market System External Factors Economy Culture Technology Demand Legal Raw materials Competition Market System Internal Factors Financial resources Management Team Suppliers Company mission Marketing Plans

  7. The Marketing Mix • Marketing Mix • Steps in Preparing the Marketing Plan • Define the Business Situation • Situation Analysis • Define the Target Market/ Opportunities & Threats • Target Market • Market Segmentation • Basis

  8. The Marketing Mix • Consider Strengths & Weaknesses • Establishing Goals and Objectives • Where do we want to go? • 6-8 Goals • Define Marketing Strategy and Action Programs • Product • What is the product/service? • What makes it unique?

  9. The Marketing Mix • Pricing • Costs • Markups/Margins • Competition • Distribution • Product image • Geographic range • Product type • When can longer channels help? • Competitive advantage • Brokers or agents?

  10. The Marketing Mix • Promotion • Costs vs. Coverage

  11. Marketing Strategy • B2B vs. B2C • Budgeting • Implementing • Monitoring • Contingency PLanning

  12. Marketing Plan Failure • Lack of Real Plan • Lack of Adequate Situation Analysis • Unrealistic Goals • Unanticipated Competitive Moves • Product Deficiencies • Acts of God

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