Writing a Marketing Plan #5 Today I will: learn the structure of a marketing plan So I can: see the importance of building a marketing plan to success of a business I will know I’m successful when: I am able to put the basic elements of a marketing plan to work in an actual scenario. Text Books needed, but no reading to start.

Marketing Plan – a formal written document that directs a company’s activities for a specific period of time. Writing a Marketing Plan is the #1 skill you will gain from this class.

Turn to P. 38 Outline Use as ongoing reference Elements of a Marketing Plan: Executive Summary Situation Analysis (SWOT and PEST) Objectives Marketing Strategies Implementation Evaluation and Control Turn to P. 38 Outline Use as ongoing reference

Elements of a Marketing Plan: Keep pg. 38 open Executive Summary Brief overview of entire marketing plan. Situation Analysis (SWOT and PEST) Objectives – What will the plan accomplish? SMART: specific, measurable, achievable, realistic, timed. Marketing strategies – positioning, identify target markets and marketing mix strategies Implementation – Time table of actions Evaluation and Control – Set performance standards, evaluation and corrective action

Assignment: Working with your elbow partner – a DECA-style role play. Spend 10 minutes preparing a Marketing Plan. Using the scenario below, one of you will be the main presenter – someone simply talking to a friend (judge). Two will be selected randomly. Following their role play, the entire class will engage in a discussion of what they liked as well as suggestions. Presenter – you are currently the manager of a grocery store located in the suburbs. You’ve always dreamed of opening your own gourmet grocery store. You recently discovered a location that would be ideal. It is next to an upscale development of homes and townhomes, an office park and a strip mall with well kept shops of all kinds Your plan is to carry high-end brands, fresh meats and seafood, produce, flowers and prepared foods. Your target markets are office workers and area families. Activity – explain to your friend the importance of developing a good marketing plan and its components. Discuss the following elements: Importance of developing a Marketing Plan Identify your market segments Give a brief SWOT analysis of the overall situation Discuss basic elements of an Environmental Scan of the area State your marketing goals and objectives