1. 4.2 Marketing Planning

2. Marketing Planning Marketing doesn't just happen!
The process of formulating appropriate strategies and preparing marketing activities to meet marketing objectives.
SMART objectives
Sales forecasts
Marketing budget
Marketing strategies
Detailed plan of action
Marketing doesn't just happen!

3. Marketing Mix
Effectively combining key decisions in the areas of product, price, promotion, and place to successfully market a product.

4. Product Price Promotion Place The 4 P’s of Marketing (Marketing Mix)
The 4 P’s of Marketing Video:

5. The 3 other P’s There are 3 more P’s – related to Service
People: Selling services require people to create a positive experience for the customer (restaurants, hair salons)
Process: Satisfying customer needs as part of marketing services (automatically renewing a membership)
Physical Evidence: Customers can see for themselves the quality of the product (a clean lobby at a hotel, table clothes used a nice restaurant)

6. Successful Marketing Mix
The marketing mix must be consistent in order to be successful in sending a clear message to customers.
Example:
Product: Rolex watch
Price: Expensive
Promotion: “Hi-line” magazine ads
Place: Upscale jewelry stores

7. What is wrong with this picture?
An expensive well-known brand of perfume for sale by a street-vendor.
Saks Fifth Avenue wrapped your fine china purchase in newspaper.
Lamborghini sports cars are advertised in Seventeen magazine.

8. Market Segmentation
Identifying different segments within a market and targeting different products or services to them.
Hewlett-Packard sells computers for office and home use. They also make laptops for people who travel.
Coca-Cola makes regular soda, diet soda for weight conscious consumers, and athletic drinks for athletes.

9. How are markets segmented?
Geographic
Tastes may very by geographic location
Demographic
Most common way to segment
Age, gender, family size, ethnic background, income, weight, job
Psychographic
Differences in lifestyle, hobbies, personalities, values
Sports fans, athletes, fisherman, church-goers

10. Consumer Profile
A quantified picture of the consumers in your market segment for the products you expect to sell:
Proportions of age
Income levels
Location
Gender
Social class

11. Niche Market vs Mass Market
Niche Market: A small and specific part of a larger market.
The Dollar Store – sells inexpensive items only
Versace – only sells to very upscale clients
Mass Market: A market for products that are often standardized and sold in large quantities.
Toothpaste
Printer paper

12. Product Positioning Map
A graph that analyses consumer perception of each group of competing products in respect of two characteristics.
Establish 2 important features of the competing products such as Price/Quality
Then place products on a graph .

13. Product Positioning Map
High Calorie
Women
Men
No Calorie

14. Product Positioning Map
Analyzing a Product Positioning Map
May indicate a potential gap in the market
May identify key features of a product that are being under promoted
Repositioning existing brands may be needed by the use of advertising techniques, or new packaging.

15. Unique Selling Point (USP)
The factor that makes your company’s product unique…designed to motivate customers to buy.
Product: Dyson’ vacuum cleaner with cyclone technology
Price: Walmart – always low prices
Place: Dell Computers – first computer manufacturer to utilize Internet sales
Promotion: FedEx….when it absolutely, positively has to be there overnight.