THE MARKETING PLAN Lindell Phillip Chew DEVELOPING YOUR MARKETING PLAN FOR YOUR RESPONSIBILITY AREA DEVELOPING YOUR MARKETING PLAN FOR YOUR RESPONSIBILITY AREA

MY MARKETING PLAN OPPORTUNITYISNOWHERE!!!!!!!!!!!! OPPORTUNITYISNOWHERE!!!!!!!!!!!!

DEVELOPING YOUR MARKETING PLAN Planning a question and answer process. The market plan asks and answers the question "HOW DO WE GET THERE FROM HERE?" (Just like planning a family trip/vacation.) REMEMBER HOW A AAA TRIP TIX WORKS FOR YOU ON A VACATION.!!!!!

WHERE are we new?WHEN are we leaving? WHERE should we go?WHO will do the driving WHERE have we decided to go?WHYare we going? WHAT are the conditions which may affect us? HOW are we going? HOW much will the trip cost?HOW will we meet our progress WHAT is our plan for alternate routes?against our schedule? (contingency plan)

THE TRIP WHERE are we new? WHEN are we leaving? WHERE should we go? WHO will do the driving WHERE have we decided to go? WHYare we going? WHAT are the conditions which may affect us?HOW are we going? HOW much will the trip cost?HOW will we meet our progress WHAT is our plan for alternate routes?against our schedule? (contingency plan)

An OPERATIONAL (ONE YEAR) MARKETING PLAN……….. identifies strategies and responsibilities for implementing action programs to achieve desired results. (FISCAL YEAR,CALENDAR YEAR, NEXT 12 MONTHS)

LENGTH MARKETING PLANS MAY ALSO BE INTERMEDIATE (1-5 YEARS) AND LONG RANGE (STRATEGIC - EXTENDED BEYOND FIVE YEARS)

LET’S BE PRACTICAL AIM - Establishing Objectives then Accomplishing Them. ORGANIZATION ……. 1. Prepare marketing plan in a loose leaf notebook form. 2. Number all pages. 3. Give date(s): when prepared, time period covered. 4. Identify author(s). 5.Type double spaced with wide margins. 6. Index: Use headings and subheadings liberally and divide with tabs.

Plan should be comprehensive but not complicated. CONTENTS 1. Plan should be COMPREHENSIVE but NOT complicated. 2. Persons not involved in the authorship SHOULD be able to follow the planning logic and readily ascertain their responsibilities. There are SIX steps in developing an operational marketing plan.

WELCOME ABOARD

Six steps in developing an operational marketing plan. There are six steps in developing an operational marketing plan. 1. PREPARE COMPREHENSIVE FACT BASE 2. LIST PROBLEMS AND OPPORTUNITIES 3. STATE SPECIFIC OBJECTIVES (FIRST STATE YOUR ASSUMPTIONS) 4. DEVELOP STRATEGY 5. ESTABLISH BUDGET 6. PROJECT SALES AND PROFIT

YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!

Detailing the six steps… 1. PREPARE COMPREHENSIVE FACT BASE

FACTBASE *1ST.... GENERAL BUSINESS PURPOSE WE ARE IN THE BUSINESS TO CREATE AND SERVICE OUR CLIENTS…… WE……………………… THIS PLAN COVERS….

1.PREPARE COMPREHENSIVE FACT BASE *1ST.... GENERAL BUSINESS PURPOSE SALES MARKETS TRENDS PRODUCTS, SERVICES COMPETITION DELIVERY INVENTORY DISTRIBUTION, SALES FORCE CUSTOMER AITITUDES CUSTOMER COMMUNICATIONS

1.PREPARE COMPREHENSIVE FACT BASE SALES and PROFITS 12 MONTHS RUNNING 3-5 YEARS

1.PREPARE COMPREHENSIVE FACT BASE MARKETS TRENDS PRODUCTS, SERVICES

1.PREPARE COMPREHENSIVE FACT BASE COMPETITION The competitive landscape The competitive landscape Provide an overview of product competitors, their strengths and weaknesses Provide an overview of product competitors, their strengths and weaknesses Position each competitor’s product against new product Position each competitor’s product against new product

1.PREPARE COMPREHENSIVE FACT BASE DELIVERY INVENTORY DISTRIBUTION, SALES FORCE CUSTOMER ATTITUDES CUSTOMER COMMUNICATIONS

2. LIST PROBLEMS AND OPPORTUNITIES

2. LIST PROBLEMS AND OPPORTUNITIES IDENTIFY PROBLEMS ….HURDLES DEVIATIONS FROM ANTICIPATED DETERENTS TO THE SMOOTH OBSTACLES TO GOALS

IDENTIFY PROBLEMS DEVIATIONS FROM ANTICIPATED DETERENTS TO THE SMOOTH OBSTACLES TO GOALS

PROBLEMS PROBLEM VS SYMPTOM INDUSTRY & COMPANY *SOLVABLE SOLVING PROBLEMS NO CONTROL

ANALYZE 2. LIST PROBLEMS AND OPPORTUNITIES (CONT.) OPPORTUNITIES - EXPLOITABLES WHAT IS WHERE TO LOOK ………

3. STATE SPECIFIC OBJECTIVES –

3. STATE SPECIFICS OBJECTIVES – \ FIRST….STATE YOUR ASSUMPTIONS

3. STATE SPECIFIC OBJECTIVES –

FORMULATE OBJECTIVES * SPECIFIC * QUANTIFY

Success Metrics First year goals First year goals Additional year goals Additional year goals Measures of success/failure Measures of success/failure Requirements for success Requirements for success

4. DEVELOP STRATEGY SPECIFIC ACTIVITIES SPECIFIC ACTIVITIES YOUR CALL TO ACTION YOUR CALL TO ACTION RESPONSIBITY ASSIGNMENTS DEADLINES PRIORITIES RESOURCES

ELEMENTS 1. MARKET TARGETS 2. THE MARKETING MIX (THE 5 P’S) PRICE PRODUCT PLACE PROMOTION POLITICS

ELEMENTS 1. MARKET TARGETS THE MARKETING MIX (THE 5 P’S) PRICE PRODUCT PLACE PROMOTION POLITICS

Product Positioning Positioning of product or service Positioning of product or service Statement that distinctly defines the product in its market and against its competition over time Statement that distinctly defines the product in its market and against its competition over time Consumer promise Consumer promise Statement summarizing the benefit of the product or service to the consumer Statement summarizing the benefit of the product or service to the consumer

Product Packaging & Fulfillment Product packaging Product packaging Discuss form-factor, pricing, look, strategy Discuss form-factor, pricing, look, strategy Discuss fulfillment issues for items not shipped directly with product Discuss fulfillment issues for items not shipped directly with product COGs COGs Summarize Cost of Goods and high-level Bill of Materials Summarize Cost of Goods and high-level Bill of Materials

Promotional (Communication) Strategies Messaging by audience Messaging by audience Target consumer demographics Target consumer demographics

Product Launch Strategies Launch plan Launch plan If product is being announced If product is being announced Promotion budget Promotion budget Supply back up material with detailed budget information for review Supply back up material with detailed budget information for review PHASES 1, 2, 3,4 PHASES 1, 2, 3,4

Public Relations Strategy & execution Strategy & execution PR strategies PR strategies PR plan highlights PR plan highlights Have backup PR plan including editorial calendars, speaking engagements, conference schedules, etc. Have backup PR plan including editorial calendars, speaking engagements, conference schedules, etc.

Advertising Strategy & execution Strategy & execution Overview of strategy Overview of strategy Overview of media & timing Overview of media & timing Overview of ad spending Overview of ad spending

Other Promotion Direct marketing Direct marketing Overview of strategy, vehicles & timing Overview of strategy, vehicles & timing Overview of response targets, goals & budget Overview of response targets, goals & budget Third-party marketing Third-party marketing Co-marketing arrangements with other companies Co-marketing arrangements with other companies Marketing programs Marketing programs Other promotional programs Other promotional programs

Pricing Pricing Pricing Summarize specific pricing or pricing strategies Summarize specific pricing or pricing strategies Compare to similar products Compare to similar products Policies Policies Summarize policy relevant to understanding key pricing issues Summarize policy relevant to understanding key pricing issues

Place-Distribution Distribution strategy Distribution strategy Channels of distribution Channels of distribution Summarize channels of distribution Summarize channels of distribution Distribution by channel Distribution by channel Show plan of what percent share of distribution will be contributed by each channel -- a pie chart might be helpful Show plan of what percent share of distribution will be contributed by each channel -- a pie chart might be helpful

Vertical Markets/Segments Vertical market opportunities Vertical market opportunities Discuss specific market segment opportunities Discuss specific market segment opportunities Address distribution strategies for those markets or segments Address distribution strategies for those markets or segments Address use of third-party partner role in distribution to vertical markets Address use of third-party partner role in distribution to vertical markets

International International distribution International distribution Address distribution strategies Address distribution strategies Discuss issues specific to international distribution Discuss issues specific to international distribution International pricing strategy International pricing strategy Localization issues Localization issues Highlight requirements for local product variations Highlight requirements for local product variations

Product Schedule 12-month schedule highlights 12-month schedule highlights Timing Timing Isolate timing dependencies critical to success Isolate timing dependencies critical to success

STRATEGY ANALYSIS AND EVALUATION 1. INTERNAL COMPATIBILITY 2. EXTERNAL COMPATIBILITY 3. RESOURCE AVAILABILITY 4. RISK FACTOR

MOVING AHEAD …………….

$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$ YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!

STRATEGY (CONT) THREE MUSTS * MEET DEADLINES * CONTROL PERFORMANCE *ALLOCATE RESOURCES

STRATEGY MUST CALL FOR IMMEDIATE ACTION. OTHERWISE IT IS ONLY A STATEMENT OF INTENT. *DEVELOP ALTERNATIVE STRATEGIES FUNCTIONAL INTERDEPENDENCE

5. ESTABLISH BUDGET BUDGET FOLLOWS STRATEGY $$$$$$$$$$$$,RESOURCES & TIME!!!!!!!! $$$$$$$$$$$$,RESOURCES & TIME!!!!!!!!

BUDGET FOLLOWS STRATEGY MARKETING COSTS order getting, filing ESTABLISH mechanical, task & objective, cooperative

BUDGET (CONT) DECISIONS,,, MONEY$$$$$$$$$??????? ORGANIZE by MARKETING FUNCTION VERSATILITY and CONTROL EXERCISING CONTROL IS MANAGING

6. PROJECT SALES AND PROFIT FORECAST CONTROL UNITS major and sub control units

IMPLEMENT IMMEDIATELY REVIEW YOUR MARKETING PLAN AT LEAST MONTHLY!!!! $$$$$$$$$$$$$$$ REVIEW YOUR MARKETING PLAN AT LEAST MONTHLY!!!! $$$$$$$$$$$$$$$

OPPORTUNITYISNOWHERE!!! !!!!!!!!!!!!! GO FOR IT THIS CONCLUDES MY PRESENTATION THIS CONCLUDES MY PRESENTATION

THE MARKETING PLAN Lindell Phillip Chew YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!