Download presentation
Presentation is loading. Please wait.
1
Mrs. Alexander-Harrison
The Marketing Plan
2
Marketing Planning A SWOT analysis identifies a company’s internal strengths and weaknesses, as well as external opportunities and threats. Internal strengths and weaknesses involve analysis of the company, its customers, and its competitive position External opportunities and threats include political, economic, socio-cultural, and technological factors
3
Internal Strengths & Weakness
Strengths and weaknesses are internal factors that affect a business’s operations The internal analysis centers around the 3 C’s Company, customers, and competition Company analysis answers questions about what a company does well Asks questions about staff, finances, production, and the 4 Ps (price, product, promotion, place)
4
Marketing Customer Analysis Competitive Position Who are my customers?
How do groups of customers differ? What, when, where, and how much do they buy? Competitive Position What is the company’s market share What advantages does it have over its’ competitors?
5
PEST Analysis PEST analysis is the scanning of outside influences on a company Political issues Do not call registry Downloading music Economic Factors Recession Unemployment Currency rates Import pricing Trade restrictions-tariffs, embargos, quotas
6
PEST Analysis Socio-cultural factors Technology
Based customers and potential customers Changes in their attitudes, lifestyles and opinions provides many opportunities and threats Demographic factors such as: age, income, occupation, education level, and marital status Technology May be a threat to one company and an opportunity to another
7
Marketing Plan The elements of a marketing plan are: Executive summary
A brief overview of the entire marketing plan Situation analysis The study of internal and external factors that effect marketing strategies Marketing goals/objectives are specific, single-minded, realistic, measurable, and are time framed Marketing strategies Identifies target markets and sets the marketing mix (product, price, promotion, & place)
8
Marketing Plan Implementation Evaluation/Control Appendix
Putting the plan in to action and managing it Outlines a schedule of activities-job assignments, sales forecasts, budgets, and who is responsible for each activity Evaluation/Control Determines who objectives will be measured Performance Standards are expectations for performance that reflect the plans objectives—the measuring stick Appendix Supplemental materials, such as financial statements, sample ads, and other material that supports the plan.
9
Market segmentation Market segmentation classifies people in a given market into smaller groups. Four methods of segmenting a market are: Demographics Geographic Psychographics Buying behavior
10
Demographic s Demographics describe a populations in terms of: Age
Baby boomers born between ; high spending power Generation X followed baby boomers generation, need visuals, music, and a sense humor to reach these purchasers Generation Y, as known as the Echo boomers or Millennium generation; racially/ethnically diverse
11
Demographic s Gender Income Marital status Ethnic background
Disposable income – the money left after taking out taxes Discretionary income – the money left after paying for basic living expenses. Marital status Ethnic background
12
Geographic Geographic describes where the segment of the market lives
Local State Regional National Global
13
Psychographics Psychographics involves grouping people with similar attitudes, interests, and opinions together Also groups people together with similar lifestyles and values together
14
Behavioral Characteristics
Segmenting the market based on purchasing behavior involves analyzing people based on Sales generated Shopping patterns Purchase decision making process 80/20 Rule 80% of a company’s sales are generated by 20% of loyal customers
15
Mass Marketing vs. Segmentation
Mass marketing involves using a single marketing strategy to reach all customers, a relatively low cost strategy Niche marketing involves segmenting the market to a specific audience, clearly defining the target market—a costly process
16
PEST area External influence Information sources Political (includiing legal) Equality, diversity and human rights legislation Improving Working Lives Standard Standards for Better Health CQC reports NHS Employers In-Practice guide IWL guidance Care Quality Commission Economic Alternative employment opportunities Cost of living Department for Work and Pensions (DWP) Social Employment/unemployment levels Population size and structure Balancing work and social time Attitudes towards harassment and bullying Community involvement in clinical quality issues Association of Public Health Improvement and Development Agency Office for National Statistics Technological Improving access to health related information The IT capabilities of your organization The extent to which the organization uses e-learning and e- technology NHS Connecting for Health Electronic Staff Record A PEST analysis helps you to consider what external influences are important and the extent to which any changes are significant for the future of your organization. It prompts you to ask: What environmental factors are affecting the organization? Which of these are most important? Which are likely to be most important to the organization in the next few years?
17
Marketing Planning Example of a PEST analysis Political (incl. legal)
Employment legislation Government directives Financial policy Economic Interest rates / Inflation Disposable income Unemployment Social Population demographics Employment opportunities Attitudes to work and leisure Technological Information technology developments New discoveries / developments
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.