The Marketing Plan. 2 The Marketing Plan Presentation Overview Purpose Situation Analysis SWOT Analysis Goals Marketing Strategy Marketing Action Plans.

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Presentation transcript:

The Marketing Plan

2 The Marketing Plan Presentation Overview Purpose Situation Analysis SWOT Analysis Goals Marketing Strategy Marketing Action Plans

3 Purpose of The Marketing Plan Interpret Ambiguous Situations Analyze/Evaluate Data Set Goals & Make Projections Lead to rational decision making

4 Role of the Situation Analysis The Situation Analysis gathers the data that is used in subsequent analyses Sources of data Internal Information Marketing Research Firms Trade and Industry Associations National Research Bureaus Professional Associations Commercial Publications

5 Current Situation: Market Understanding of the Overall Market Who are the users Size and growth What wants are being addressed Change of demand/wants History & future Substitutes, areas for expansion

6 Current Situation: Competition Direct & Indirect Current & Potential: Who How many How large Threat level Anticipated actions

7 Current Situation: Macro-environmental Cultural/Demographic Trends Social/Lifestyle Trends Economic Considerations Legal/Political Concerns Physical Environmental Issues

8 Current Situation: Your Firm ’ s Past Performance General Trends Performance of each department in the company Market-based Accomplishments and Failures Skills gained or lost Future Considerations Anticipated issues

9 The Situation Analysis Leads to the SWOT Analysis The SWOT Analysis identifies the key issues a firm must consider to successfully compete in the industry/market being investigated.

10 Key Issues Elements of the SWOT ANALYSIS are: Company Strengths Company Weaknesses Environmental Opportunities Environmental Threats These are best presented as a matrix.

11 A SWOT Matrix PositiveNegative ExternalOpportunityThreat InternalStrengthsWeaknesses

12 Goals The SWOT highlights possibilities and the resources needed to pursue them. Goals should include Financial objectives Revenues Return on Investment Marketing objectives Share Distribution/Coverage Expansion New Products/Markets

13 Marketing Strategy Is how the plan ’ s goals are met. Sets the confidence level that the goals will be met.

14 Marketing Strategy Product-Market Specification Describes the users, the needs being fulfilled and the wants satisfied. Market Segmentation Identifies variables that can simplify the Product-Market specification by dividing it into homogeneous groups of users/potential users.

15 Marketing Strategy Targeting Determines which of the market segments you want to develop a marketing mix for Positioning Identifies how you want the targeted market segment to think about your brand and offering relative to competitors.

16 Marketing plans are what implement the marketing strategy — more specifically, are what implement its positioning objective. Marketing Action Plans

17 Marketing Action Plans Product Strategy Creates form utility that meets needs and wants. Pricing Strategy Creates value perceptions that impact demand. Place (Channel) Strategy Creates time & place utility. Promotion Strategy Creates awareness & preference