Developing the Marketing Plan Appendix 1. COPYRIGHT © 2002 by Thomson Learning, Inc. All rights...

Developing the Marketing Plan

Appendix 1

COPYRIGHT © 2002 by Thomson Learning, Inc. All rights reserved.

Aids in Developing a Strong Marketing Plan…

Information from varying sources:– Competitive– Economic– Demographic– Company trends– Capacity and production limits

– Internal and external information gathering


The Structure of the Marketing Plan

Should be comprehensiveShould be organized logicallyShould be flexible enough to allow for modification


Executive Summary

Synopsis of overall marketing plan (strategy & execution)Quick overview of the plan identifying key issues– Does not contain detailed information

Includes sales projections, costs, & performance evaluation measuresLast part of the marketing plan to be completed


Environmental Analysis

Summarizes business conditions– External environment– Customer environment– Firm’s organizational environment

Should evaluate external factors: economic, competitive, social, political/legal & technologicalOne of the most difficult parts of the marketing plan


SWOT Analysis

Strengths & Weaknesses-internal issues that are unique to the firm providing a competitive advantage or disadvantage– What are some companies that operate with strong

brand images names (which represent a competitive advantage?)

– What are some weak brand names?


SWOT Analysis

Opportunities & Threats-external issues that may affect an organization– What are some of the external issues affecting many

organizations today?– What are some of the current threats?


Issues to Address in the SWOT Analysis

Matching internal strengths to external opportunitiesConverting weaknesses into strengthsRepositioning threats into opportunities


Marketing Goals & Objectives

Desired & expected outcomes of the marketing planMust emanate from a clear mission statementMarketing objectives are often quantifiable


Marketing Strategies

Selecting & analyzing target marketsDetermining the appropriate marketing mixMust gain a competitive advantageAn overall blueprint for how the firm will achieve its marketing objectives


Marketing Implementation

Specific actions that ensure the marketing objectives are achieved– 1.) actions to be taken– 2.) how & when activities will be performed– 3.) who is responsible for actions– 4.) how will completion be monitored & evaluated– 5.) cost of the activities in the plan


Problems in Creating a Marketing Plan...

Getting company-wide consensus/cooperationNot enough time for thorough completionHard to make accurate forecastsPlans are not taken seriously enoughCompany is not marketing orientedToo much of a short term focus


Using the Marketing Plan Requires…

An ongoing system of collecting relevant marketing informationGood managerial judgmentGetting top management approval, necessary resources, & non-marketing ‘buy-in’Being flexible enough to adjust the plan as necessary

Developing the Marketing Plan Appendix 1. COPYRIGHT © 2002 by Thomson Learning, Inc. All rights...

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