The Plan The Marketing Plan. Michael S. Dell 1984 - dropped out of school at 19 and started Dell...
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Transcript of The Plan The Marketing Plan. Michael S. Dell 1984 - dropped out of school at 19 and started Dell...
The The Marketing Plan Plan
Michael S. Dell 1984 - dropped out of school at 19 and
started Dell Computers Corp. with $1,000 bought excess inventory at cost, installed
graphics cards and hard drives and sold by direct marketing
1985 - 40 employees assembling own PC’s with off-the-shelf components
1993 - 4th largest PC maker in US with $2 billion in sales
Dell Computer Corp.
Marketing approach: Eliminate dealers and
distributors and work hard to meet customer needs through
quality service.
Marketing Plan
should be an annual activity that focuses on implementing decisions related to marketing-mix
should be monitored frequently does not have to be very sophisticated,
but should be very thorough
Marketing Plan Can
enhance firm’s ability to integrate marketing activities
minimize the effects of surprise from sudden changes in the environment
establish a benchmark by which to measure success
enhance management’s ability to manage since expectations are clearly designated
Marketing Plan Can Not
provide a crystal ball that will enable management to predict with extreme precision
prevent management from making mistakes
provide guidelines for every major decision go through the year without requiring some
modification due to environmental changes
Market & Sales Plan
OpportunityMission &Strategy
Bus ModelTarget Market
MarketingObjectives
Marketing Research
Marketing Plan
Sales Plan
Elements of Marketing Plan Marketing Objectives Target Customer Segments Product Offering Description Market Research and Strategy Marketing Mix Customer Relationship Management
Define Business Situation
Industry analysis size of market growth rate source and availability of suppliers threat of innovation or new technology regulations
Assessment of competitive environment location market share strengths and weaknesses
Target Market
Segment & targeting customers decide general market you wish to pursue divide market into smaller groups
geography demographics psychographic desired benefits usage buying conditions
select market segment(s) develop marketing plan integrating product, price,
distribution, and promotion
Product Offering Description Positioning is the act of designing the
product offering and image to occupy a distinctive place in the customer’s mind
Product Offering communicates the key values of the product
Unique Selling Proposition gives the key customer benefit of a product that differentiates it from its competition
Product Offering Description
high
med
low
low med high
PerformancePrice Ratio
Ease of Use
Mac
Easy PC
Gateway
Hewlett-Packard
Dell
Product Offering Description Positioning Statement
For (target customer) Who (statement of need) Product (product category) That (statement of benefit)
Differentiation Unlike (primary competitive alternative) Our Product (statement of primary
differentiation)
Product Offering Description Positioning Statement
For companies Who employees and partners need up-to-date
information when they need it Product Microsoft.Net is a new generation software That enables unprecedented level of software
integration Differentiation
Unlike Java Our Product infused in the MicroSoft platform,
providing the ability to quickly and reliably build, host, deploy, and utilize connected solutions
Market Research Process of gathering information that serves
as the basis for a sound marketing plan Research process
Define the product & its unique selling position. Identify target segment. Identify questions that will provide data on customer preferences
Collect data using surveys, demographics, focus groups, etc.
Analyze data to determine if product meets needs Draw conclusions about customers, their needs
and preferences.
Market Research
1. Define purpose or objectiveshow much would customer be willing to paywhere would customer prefer to buy itwhere would customer expect to hear about product
2. Gather data; secondary sourcestrade journals, libraries, government agencies
3. Gather data; primary sourcesobservation, questionnaire, interviewing, focus groups, experimentation
4. Analyze & interpret results
Market Research Determine market potential Conjoint analysis – relative importance
of one attribute as apposed to another – trade-off adjustments
Brand equity – Nike appeals to rebel youth who want to stand out as different from the crowd Brand awareness Perceive quality Brand association Brand loyalty
Marketing Strategy
Marketing Mix Product or service Pricing Distribution
recent success of direct-marketing techniques mail order catalog shopping fastest growing
segment in retailing mailing lists very afforable
Promotion
Marketing Mix (Price)
low high perceived quality
high
Price
low
ValueBargain
Premium Contradictory
Those whowant the best &can pay
Low price ismore importantthan quality
No target
Best value forwhat they spend
Customer Relations Mgmt Satisfied customers are not necessarily
repeat customers Satisfaction is a measure of what
customers say; loyalty is a measure of what they do
Satisfaction measurement can help identify what doesn’t work
Loyalty measurement helps firms devise strategies to hold on to customers
Some Plans Fail
Lack of a real plan Lack of adequate situation analysis Unrealistic goals Unanticipated competitive moves
product deficiencies acts of God
Environmental Analysis
External Envir.EconomyCultureTechnologyDemandLegal-PoliticalRaw materialsCompetion
Internal Envir.FinancialSuppliersGoals Management
EntrepreneurMarket Planning Decisions
MarketingStrategies
Purchase decisions ofcustomers
Marketing-mix Decisions
Diffusion of Tech & Innovations
Innovators Early Early majority Laggards adopters
2.5% 13.5%
34% 34%
16%
Diffusion of Tech & Innovations
Innovators Early Early majority Laggards adopters
2.5% 13.5%
34% 34%
16%
Diffusion of Tech & Innovations
Chasm
Adopters of Innovation Innovators – work with complex
undeveloped ideas Early adopters – more integrated with
potential adopters than innovators – visionaries
Early majority – adopt just ahead of the pack – pragmatists
Late majority – adopt because of economic necessity
Laggards – skeptics
Crossing the Chasm Ideas not yet at tipping point
Videophone (1960s) 3-D movies (1990s) Hybrid electric cars (2001) Fuel cell vehicles
Crossing the Chasm
Innovation Diffusion Period
Electric Power 40Telephone 70AM Radio 20Automobile 60B/W Television 12Color Television 16Videocassette recorder 17Artery Stents 8
Question Advertising can be useful for building
brand recognition. Describe the ad campaign for Aflac. Why doe this ad work ?
Question Advertising can be useful for building
brand recognition. Describe the ad campaign for SDSU, USD, NAU, SDSM&T. Which of these ad campaigns work? Why?