marketing plans
TRANSCRIPT
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 [email protected] or 817.994.7255
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