Marketing Plan

Marketing vs. Business Plans Marketing Plans describes the current market position of a business and its marketing strategy Defines growth, goals, and market size

Parts of a Marketing Plan Executive Summary Company Description Strategic Focus and Plan Situation Analysis Market – Product Focus Marketing Program Financial Data and Projections Organization Implementation Evaluation

Executive Summary Summarizes what is to come “Sells” the Marketing Plan

Company Description Describes what the organization does Highlight recent history Highlight recent success

Strategic Focus and Plan Communicates Mission and Vision Mission Statement – what you want to accomplish Vision Statement – how you will accomplish it Identifies both financial and non-financial goals Identifies: Core Competencies – what you do Competitive Advantage – how you do it better

Assignment Create a marketing plan for your Franchise Start With: Company Description Strategic Focus and Plan

Situation Analysis Analyze where you were, are, and are going SWOT Analysis Strengths Weaknesses Opportunities Threats Industry, Competition, Company, and Customers Analysis

Market-Product Focus Set objectives Identify target markets Identify Points of Difference Positioning

Marketing Program Identify the marketing mix Strategy Include these elements: Product Features, Brand Name, Packaging, Services, Warranties Price List price, Discounts, Credit Terms, Payment Period Promotion Advertising, Personal Selling, Sales Promotions, Publicity Place Outlets, Channels, Coverage, Transportation, Stock Level

Financial Data and Projections Past and Present data Revenue and Expenses

Organization Organizational chart of management structure Both current and potential positions

Implementation Plan How will company turn plans into results Details for strategies

Evaluation Compares results with goal Determine if there are successes Makes any deviations necessary