marketing plans

Marketing & Communications

Strategic Planning

Marketing Plan TrainingDelivered to

DFW Entrepreneur Start-Up GroupRalph M. Gill

October 6, 2011

Expert Marketing Perspectives“The aim of marketing is to know and understand the

customer so well the product or service fits him and sells itself.”– Peter Drucker, Marketing Visionary

“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.”- Jack Welch, GE

“The primary function of the marketing plan is to ensure that you have the resources and the wherewithal to do what it takes to make your product work.”- Jay Levinson, Guerrilla Marketing

“What makes content engaging is relevancy. You need to connect the contact information with the content information.”– Gail Goodman, Constant Contact

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Unfortunate Marketing Perceptions• “Marketing is what you do when your product is no good.”-

Edwin Land, Co-founder of Polaroid

• “Don't tell my mother I work in an advertising agency - she thinks I play piano in a whorehouse.”- Jacques Seguela, French Ad Agent

• “Marketing is the devil.”- Billy Bob Thornton

• “Marketing is just liquor and guessing”- Dilbert

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Marketing and SalesStrategic Planning Process

Defining the Company

Vision/Mission/Core Values

Setting Company Objectives and

Goals

Analyzing and Designing the

Business Portfolio

Marketing and Sales

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Defining the Company Vision/Mission/Core Values

Elements Examples

Realistic Singapore Airlines would be deluding itself if its mission was to become, “The world’s largest airline.”

Specific“We want to become the leading company in this industry by producing the highest-quality products with the best service at the lowest prices.” Sounds good but does not help the company make tough decisions.

Fit the Market Environment

Girl Scouts former mission, “To prepare young girls for motherhood and wifely duties.” wouldn’t fit today.

Distinctive Competencies

McDonalds could probably get into the solar energy business but probably should stick to low-cost fast food.

MotivatingA company’s employees need to feel that their work is significant and contributes to peoples’ lives as opposed to “Making more sales or profits.”

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Company Product-Oriented Definition Market-Oriented Definition

Wal-Mart We run discount stores. We offer products and services that deliver value to middle Americans.

Citibank Visa We issue credit cards We allow customers to exchange value/assets for virtually anything, anywhere in the world.

Revlon We make cosmetics. We sell lifestyle and self-expression; success and status; memories, hopes and dreams.

O.M. Scott We sell grass seed and fertilizer We deliver green, healthy looking yards.

Disney We run theme parks.We provide fantasies and entertainment- a place where America still works the way it’s supposed to.

Defining the Company Vision/Mission/Core Values

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Defining the Company

Vision/Mission/Core Values

Setting Company Objectives and

Goals

Analyzing and Designing the

Business Portfolio

Marketing and Sales

Marketing and SalesStrategic Planning Process

Setting Company Objectives and

Goals

•Improve profits •Increase

revenue •Reduce

expenses

•Additional research

•Increase share in market

•Enter new markets

•More promotion

Setti ng Company Objectives and Goals

Business Objective

Marketing Objective

Be as specific as possible.

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Defining the Company

Vision/Mission/Core Values

Setting Company Objectives and

Goals

Analyzing and Designing the

Business Portfolio

Marketing and Sales

Marketing and SalesStrategic Planning Process

Analyzing and Designing the

Business Portfolio

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Current

•Decide which of the company’s present Strategic Business Units and/or products should receive more, less or no investment.

New

•Develop growth strategies for adding new products or businesses to the portfolio.

Analyzing and Designing the Business Portfolio

Analysis of the company’s strengths and weaknesses to opportunities in the environment.

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Analyzing and Designing the Business Portfolio

Developing Growth Strategies

ExistingProducts

NewProducts

Existing Markets

1. MarketPenetration

3. ProductDevelopment

NewMarkets

2. MarketDevelopment 4. Diversification

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Opportuniti es Examples

Market Penetrati on

Making more sales to present customers without making changing products in any way.

Market Development

Identifying and developing new markets (demographic, geographic, etc.) for current products.

Product Development Offering modified or new products to current markets.

Diversifi cati on Start up or buy businesses outside of current products and markets.

Analyzing and Designing the Business Portfolio

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Defining the Company

Vision/Mission/Core Values

Setting Company Objectives and

Goals

Analyzing and Designing the

Business Portfolio

Planning, Marketing and

Other Functional Strategies

Marketing and SalesStrategic Planning Process

Marketing and Sales

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Marketing and Sales

Marketing Process1. Analyzing Marketing

Opportunities

2. Selecting Target Markets

3. Developing the Marketing Mix

4. Managing the Marketing Effort

Businesses Must be Customer Centered Market Segmentation

› Geographic

› Demographic

› Psychographic

› Behavioral Market Targeting

› Products Designed for Each Segment

Market Positioning

› Occupying a clear, distinctive, and desirable place in the minds of Target Customers relative to competing products.

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Marketing and Sales

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Marketing and Sales

Developing the Marketing Mix- The 4 Ps Product- the “goods and service”

combination offer to target market Price- cost including negotiables like

discounts, credit terms, etc. to bring the price into line with the buyer’s perception of the value

Place- or distribution, activities that make the offering available

Promotion- communicates the meritsof the product and persuades targetcustomers to buy it

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Marketing and Sales

ProductVarietyQualityDesignFeaturesBrand namePackagingSizesServicesWarrantiesReturns

PriceList priceDiscountsAllowancesPayment periodCredit terms

PlaceChannelsCoverageAssortmentsLocationsInventoryTransportationLogisitics

PromotionAdvertisingPersonal SellingSales promotionPublic relations

Target Customers

IntendedPositioning

The 4 Psof the

Marketing Mix

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Marketing and Sales

Managing the Marketing Effort Analysis- feeds information and

additional input to the other functions

Planning- strategies to obtain objectives, answers the questions what & why

Implementation- turns plansinto actions, answers who, where, when & how

Control- measures and evaluatesthe results

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Marketing and Sales

Planning

Develop strategic plans

Develop marketing plans

Control

Measure results

Evaluate results

Take corrective action

Implementation

Carry out the plans

Analysis

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Marketing and Sales

Elements of a Marketing Plan Executive summary Current marketing situation

Threats and opportunity analysis

Objectives and issues

Marketing strategy

Action programs

Budgets

Controls

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Marketing and Sales

Elements of a Marketing Plan

Executive summaryPresents a brief overview of the

proposed plan› Quick review for top

management

› Table of contents

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Marketing and Sales

Elements of a Marketing Plan

Current Marketing SituationPresents relevant background data

on the market, product, competition and distribution.

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Marketing and Sales

Elements of a Marketing Plan

Threats & Opportunity Analysis

Identifies the main threats and opportunities that might impact the product or business› SWOT

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Marketing and Sales

Elements of a Marketing Plan

Objectives and IssuesDefines the company’s objectives for

the product in the areas of sales, market share and profit.› Goals

› Issues that will affect the objectives

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Marketing and Sales

Elements of a Marketing Plan

Marketing StrategyLogic by which the business unit(s)

hopes to achieve the marketing plan’s objectives.› New products› Sales› Advertising › Sales promotion› Prices› Distribution

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Marketing and Sales

Elements of a Marketing Plan

Action ProgramsSpecifies what will be done, who will

do it, when it will be done and how much it will cost.› Increase sales promotion› Special offers› Trade shows› POP displays› When activities will be started,

reviewed and completed

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Marketing and Sales

Elements of a Marketing Plan

BudgetsA projected profit and loss statement

that forecasts the expected financial outcomes from the plan.› Buying

› Production scheduling

› Personnel planning

› Marketing operations

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Marketing and Sales

Elements of a Marketing Plan

ControlsIndicates how the progress of the plan

will be monitored.› Plan analysis

› Corrective actions

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Marketing and Sales

Measure Performance

What is happening?

Take Corrective Action

What should we do about it?

Evaluate Performance

Why is it happening?

Set Goals

What do we want to achieve?

The Control Process

• Posted on http://finance.groups.yahoo.com/group/dfw_estartup

• Send questions to rgilltx@gmail.com or 817.994.7255

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