16.MP-6010
Transcript of 16.MP-6010
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The Marketing Plan
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The Marketing PlanPresentation OverviewPurposeSituation AnalysisSWOT AnalysisGoalsMarketing StrategyMarketing Action Plans
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Purpose of The Marketing PlanInterpret Ambiguous SituationsMake Assumptions KnownAnalyze/Evaluate DataSet Goals & Make ProjectionsIs a rigorous method that leads to Rational Decision Making
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Role of the Situation AnalysisThe Situation Analysis gathers the data that is used in subsequent analyses
Data omitted at this point is often never considered
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Current Situation: MarketUnderstanding of the Overall MarketWho are the usersSize and growthWhat wants are being addressedVolatility of demand/wantsHistory & futureSubstitutes, areas for expansion
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Current Situation: CompetitionDirect & Indirect Current & Potential:WhoHow manyHow largeThreat levelAnticipated actions
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Current Situation: Macro-environmentalCultural/Demographic TrendsSocial/Lifestyle TrendsEconomic ConsiderationsLegal/Political ConcernsPhysical Environmental Issues
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Current Situation: Your Firms Past PerformanceGeneral TrendsSBU performance
Market-based Accomplishments and FailuresSkills gained or lost
Future ConsiderationsAnticipated issues
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The Situation Analysis Leads to the SWOT AnalysisThe SWOT Analysis identifies the key issues a firm must consider to successfully compete in the industry/market being investigated.
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Key IssuesElements of the SWOT ANALYSIS are:Company StrengthsCompany WeaknessesEnvironmental OpportunitiesEnvironmental Threats
These are best presented as a matrix.
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A SWOT Matrix IDs:
StrengthOpportunity LinksThreatOpportunity ConversionsWeaknesses that must be Overcome
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Goals Follow From SWOTThe SWOT highlights possibilities and the resources needed to pursue them.
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GoalsMarketing is how the firm meets many of its financial goals.Goals should includeFinancial objectivesRevenuesLevel of ContributionReturn on InvestmentMarketing objectivesShareDistribution/CoverageExpansionNew Products/Markets
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Marketing StrategyIs how the plans goals are met.Sets the confidence level that the goals will be met.
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Marketing StrategyProduct-Market SpecificationDescribes the users, the needs being fulfilled and the wants satisfied.
Market SegmentationID variables that can simplify the P-M by dividing it into homogeneous groups of users/potential users.
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Marketing StrategyTargetingDetermines which of the market segments you want to develop a marketing mix for
PositioningIdentifies how you want the targeted market segment to think about your brand and offering relative to competitors
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Marketing Action PlansAre what implement the marketing strategymore specifically, are what implement its positioning objective.
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Marketing Action PlansProduct StrategyCreates form utility that meets needs and wants.
Pricing StrategyCreates value perceptions that impact demand.
Channel StrategyCreates time & place utility.
Promotion StrategyCreates awareness & preference