The Marketing Plan

Major Components Situation Analysis Problems and Opportunities Marketing Objectives Marketing Strategies Implementation Evaluation

The Situational Analysis Internal Considerations – Product – Promotion – Distribution – Price

Situational Analysis External Considerations – Marketplace – Competition – Consumers – Demand – Environment

Problems and Opportunities Identification Possible After SA Problems May be Opportunities in Disguise Promotion only Solves Communication Problems

Setting Objectives Must be Specific and Measurable Primary Marketing Objectives – Sales, Market Share, Volume Secondary Objectives – 4 P’s Product – brand Promotion - awareness Price - % markup Place - # outlets open

Examples of Objectives Primary Marketing Objective – Pepsi will increase sales of Mountain Dew (domestically) by 10% over 2014 in the next 12 months. – Apple will sell 7 million units of the Apple Watch by September 30, Secondary Objectives – Sales Promotion Proctor and Gamble will achieve a 30% coupon redemption rate with the June 2015 campaign. – Advertising Disney will achieve a 75% awareness rate in existing DVC members of the new WDW Polynesian Resort in 2015.

Marketing Strategies Determine Target Market Investigate Segmentation Opportunities Product Strategies – Branding – Packaging Distribution – Push vs. Pull

Marketing Strategies Promotion Promotions Mix, use of technology based media vs. traditional, budget Pricing Skimming Competitive Penetration

Marketing Segmentation Identifying groups of people with shared characteristics within the broad markets for consumer or business products aggregating these groups into larger segments according to their mutual interest in the product’s utility

Steps to Segment Identify the needs structure of the consumer population Group the customers into homogeneous segments Id factors that are correlated with the segments (segmentation variables) Select your target market Develop your positioning strategy

Segmentation Variables Demographics – age, income, sex, family size Geographics – regions, climate, density Behavioristic – benefits sought, usage rates, purchase occasion, psychographics

Classifications of 4 General Segmentation Characteristics

Target Markets these are the aggregate segments that you will direct your marketing efforts towards You’re prospects!

The Target Market Decision Undifferentiated Marketing Differentiated Marketing Focused (Concentrated Marketing)

Advertising and Distribution Direct Distribution - Network Marketing Indirect Distribution - resellers and channel members to consider Three Primary Strategies – Intensive – Selective – Exclusive

Marketing Strategies Co-op Strategies IMC – seek synergy

Implementation Scheduling – when will you end and begin this plan, use calendar to identify which strategies will come into play at certain times of the year Budgeting – how much will all of this cost, when will your payouts be?

Evaluation Compare Against Quantifiable Objectives

Promotions Plan natural outgrowth of the marketing plan outline of the actions, approaches and tactics that will be used to meet promotions objectives. – Advertising – pr – Sales promotion – Personal selling – Direct marketing often bounded by budgetary considerations

Advertising Pyramid Action Desire Conviction Comprehension Awareness

IMC Objectives should support marketing objectives deal with all elements of the promotions mix. awareness, recall, likeability, recognition, action, sales, contacts (or calls), # media contacted and story pickups

Promotions Strategies our plan of action! Broken into section for each of the elements of the promotions mix utilizes the creative mix to mobilize the forces! target audience product concept communications media Advertising, pr, personal selling message

Product Concept How will the ad present the product? In terms of: – Positioning – Differentiation – Life Cycle – Branding, packaging, classification – Thinking or feeling?

Advertising Message Copy Elements – Advertising appeals Humor, fear, slice of life – Copy Platform – Key Consumer Benefits to be identified Art Elements – Visuals for packaging, ads, POP – Layout and Design

Sales Message Id Contact Person Develop scripts for specific TMs Training Setting reasonable expectations Developing long-term relationships

Creative Mix target audience - the people you want to speak to and address the message to – Primary and Secondary product concept - the bundle of values or benefits – may be psychological or utilitarian communications message – TV, radio, magazines, newspaper advertising message - combo of art and copy and production to form message pr message – what is the “newsworthy” item or message Sales promotion – target new segments and spur action Personal selling – demonstrate, address b to b customers, develop trade show information, overcome objections Direct marketing – can this be a reasonable additions to mix?

Media Planning Define Media Objectives – Reach, frequency, GRP, scheduling Profile audiences/readership Match the audiences to the TM Evaluate economics of TM vs. TA Negotiate purchases

Evaluation and Testing Advertising Research Pretest ads Test Concept Posttesting