Transcript Transition to Management

BBUSS 2403 • BUSINESS PLANNING
CHAPTER 7
Marketing Plan
3-1
Introduction
Marketing plan
• Marketing strategy
• Positioning
• Points of differentiation
• Price
• Promotional mix
• Sales process
• Distribution strategy
7-2
Overall Marketing Strategy
Marketing strategy
– Approach to marketing a
firm’s products and services
stated in broad terms,
which forms the basis of all
its marketing-related
activities
7-3
Positioning Strategy
Positioning is how a firm is situated
relative to its rivals
7-4
Points of Differentiation
• Clear points about your product that
are memorable and distinct that
make your product different and
better than existing products
• Product attribute map
7-5
Product Attribute Map
Figure 7-1
High
Range of Amenities Provided
Gold’s Gym LA
Fitness Bally
Prime Adult
Fitness
YMCA
Community center
fitness clubs
Curves
International
Low
Tailored to the Specific Needs of Clientele
Low
7-6
High
Pricing Strategy
How to price your product
or service
– Cost based
– Value based
7-7
Sales Process and
Promotions Mix
•
Sales process are the
steps a firm goes through
to establish relationships
with customers and close
sales
1.
2.
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4.
5.
6.
7.
7-8
Prospecting
Initial contact
Qualifying the lead
Sales presentation
Meeting objections
Closing the sale
Follow up
Promotions Mix
• The specific tactics a firm
uses to communicate with
its potential customers
• Advertising
• Public relations
• Other promotions-related
activities
7-9
Advertising
• Makes people aware of your
product so they are persuaded
to buy it
• Major goals
– Raise customer awareness of
product
– Explain product's comparative
feature and benefits
– Create an association between
product and lifestyle
7-10
Public Relations
Efforts to establish and maintain
a company's image with the
public
 Press release
 Media coverage
 Article in local newspapers
 Blogging
 Monthly newsletter
 Civic, social, and community
involvement
7-11
Other Promotionsrelated Activities


Free samples
Creating buzz by creating awareness and
sense of anticipation about company and
product

7-12
Distribution and Sales
Distribution encompasses
all the activities that move
a firm’s product from its
place of origin to the
consumer
• Where people in your target
market shop
7-13
Sales Strategy
A firm needs to decide whether
to field
its own sales force or use intermediaries
7-14