1. Marketing Plan
Marketing

2. What is a Marketing Plan?
A written document that provides direction for the marketing activities for a specific period of time
It is a critical planning tool for any business, regardless of industry
Defines goals and strategies
Serves as the “game plan”
Communicates the goals, objectives, and strategies of a company to its employees

3. Key components of an effective Marketing Plan:
Mission Statement
Executive Summary
Situation or S.W.O.T. Analysis
Marketing Goals / Objectives
Market Research / Marketing Strategies
Implementation
Evaluation and Control

4. The Mission Statement
A written statement that captures an organization’s purpose, customer orientation and business philosophy
The majority of marketing strategies are founded on the basis of the mission statement content

5. The Executive Summary Introduce the Company
Overview of the Marketing Plan
Explain all of the key elements of the Marketing plan in a shorter form
Focus your ideas and goals in a short summary

6. The Situation (S.W.O.T.) Analysis
Strengths W
Weaknesses O
Opportunities T
Threats

7. Strengths S Strengths Patents Strong brand names
Positive reputation among customers S
Strengths
Resources and capabilities that can be used
as a basis for developing a competitive advantage

8. Weaknesses W Weaknesses Lack of patent protection Weak brand name
Poor reputation among customers
Lack of resources
Inadequate distribution channels W
Weaknesses
Qualities that give a business a competitive disadvantage

9. Opportunities O Opportunities An unfulfilled customer need
Arrival of new technologies
A niche that has not yet been exploited
Mergers
Entry into new markets O
Opportunities
Events that could facilitate company profit and growth

10. Threats T Threats Shifts in consumer tastes away from company products
Emergence of new substitute products
Government regulation T
Threats
Events that could have a negative impact on the company

11. Marketing Goals & Objectives
Statement of what results you want to achieve with your marketing
Building blocks of your marketing plan
Specific, Measurable, Attainable, Realistic & Timely
Big number such as - a year end revenue figure
Small number such as – acquire 4 new clients per month
Company culture – To be number 1 in customer satisfaction in the sports equipment industry
Ex: Disney’s goal is to make people happy!

12. Marketing Goals & Objectives
Give your goals a reality check:
Ask the following questions:
Can I really and truly do this?
Have I come close before with similar efforts?
Do the numbers, time frame and dollars seem somewhat practical?
Have other companies or my competition done similar things?

13. Market Research / Marketing Strategies
Market Research: Gain valuable insights about your customers, competitors, & products
Marketing Strategies:
Establish guidelines for how to use the information gathered from market research
Define where the company fits in among competitors: Leader, Follower, challenger, or niche company

14. Implementation Blue Print for marketing your products and services
Step by Step guide for delivering your marketing strategy
8 Key Steps for successful Implementation:
Set the right expectations
Build the team and secure resources
Communicate the Plan
Build timeline and tasks
Set up a dashboard for tracking success
Monitor and Check-in Regularly
Be willing to adapt
Communicate results and celebrate Success!!

15. Marketing Control Control: Control Process:
Steps that an organization takes to ensure that its marketing plan is successful
Control Process:
Setting standards based on plans
Measuring performance against standards
Correcting deviations from standards and plans

16. Marketing Evaluation
Techniques used after the marketing plan period to analyze success in achieving individual marketing objectives and to more broadly assess the entire organization’s marketing efforts

17. Marketing Evaluation Techniques
Sales analysis
Market-share analysis
Marketing cost and profitability analysis
Efficiency ratios
Marketing-effectiveness rating review
Marketing audit

18. Self-Assessment Values Personal Preferences Interests
Skills / Aptitudes
Personality
Personal Preferences

19. Values Beliefs that guide the way we live Examples: Service to others
Self-Expression
Teamwork
Personal achievement
Recognition
Family

20. Interests Things you enjoy Examples include: Leisure activities
Hobbies
School activities
Class or subjects
Social activities
Books
TV shows or movies

21. Skills & Aptitudes Skill Aptitude Ability or natural talent
Potential to learn a certain skill
Examples include:
Creative thinking
Languages
Communication
Leadership
Sports
Customer service
Organization
Sales

22. Personality
Combination of all the unique qualities that make you who you are
Sum of total feelings, actions, habits, and thoughts
Intellectual
Decisive
Outgoing

23. Personal Preferences Work Environment Relationships Indoors / Outdoors
Relaxed / Fast Pace
Sitting / Standing
Relationships
Teamwork / Alone
Data / Objects / People
Delegate / Self-Start
Level of Supervision

24. The Changing Workplace
Dynamic
Fluctuations in supply & demand of workers due to industrial revolution and advances in technology
Shift to a global economy

25. Shifting Norms of Employees
Baby Boomers
Born between and 1964
Company loyalty

26. Shifting Norms of Employees
Generation X (born between mid-1960’s and early 1980’s)
Generation Y (aka Millennials, born between 1980’s and early 2000)
Career-switchers
Expected to pursue 5-9
different careers in a lifetime

27. Project Time Work Independently
Create a Personal Marketing Plan for YOU
to your teacher
* See Project document for Assignment Details