Transcript TEF: Lancer ATI Development

Marketing Plans
Andrew Benesh
Austin Richardson
Ben Potter
Jason Klein
Krishna Vuppala
Agenda
Introduction to Marketing plan
Marketing plan structure
Situation analysis
SWOT
Marketing strategy
Implementation and Control
Conclusion
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Marketing Plan
What is a Marketing plan?
• action-oriented document
• set objectives for the marketing and
promotion of business
• needs to be followed, monitored and
updated
• regularly evaluate and control a
marketing plan
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A Perfect Marketing plan
•
sensible and relevant
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accurate and realistic targets
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customize to suit business and its objectives
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keep business prepared for unexpected events or promotions
by competition
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spot possible threats to business, and prepare for ways to
minimize or capitalize on them
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Fulfills Five Purposes
 Present and future situations of the organization
 Specifies expected outcomes (goals and objectives)
 Describes the specific actions that are to take place
 Assigns responsibility for each action
 Identifies the resources needed to carry out the
planned actions
 Permits the monitoring of each action and its results so
that controls may be implemented
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Marketing plan – Key Areas
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•
Price
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Place
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Product
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Promotion
•
SWOT
•
Time
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Business without a Marketing Plan
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Organizational Aspects of the
Marketing Plan
Top managers ask two questions:
•
Will the marketing plan achieve the desired marketing,
business unit, and corporate goals and objectives?
•
Are there alternative uses of resources that would better
meet the firm’s objectives?
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Marketing Plan Structure
Executive summary
Situation analysis
SWOT
Marketing goals and objectives
Marketing strategy
Implementation
Evaluation and control
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Marketing Plan - Examples
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Situation Analysis
Internal environment
External environment
Customer environment
Situational
Analysis
SWOT
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Goals /
Objectives
Strategy
Implementation
Control
Situation Analysis - Internal
Define mission statement
Know your brand and products
Differentiate your product or service
Focus on pleasing the customer
Past – Present – Future
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Situation Analysis - External
Know the competition
• Why are they good?
• Why are they bad?
• What can we learn?
Monitor factors from outside
• Changes in the market
• PEST
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Situation Analysis - Customer
Identify your target
Know your current customers
Identify potential new customers
Who, what, when, where, why, and why?
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What is SWOT
INTERNAL
Strengths
Weaknesses
EXTERNAL
Opportunities
Threats
Situational
Analysis
SWOT
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Goals /
Objectives
Strategy
Implementation
Control
What to gain from SWOT
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DILBERT!
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Marketing Strategy
Value Proposition
Critical Issues
Financial Objectives
Marketing Objectives
Target Market Strategy
Messages & Branding
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Value Proposition
“Benefit offered less price charged”
Emphasis on REAL benefit offered
INSTEAD of the specific tangible product or
service
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Critical Issues
Bring in the SWOT Analysis
ORGANIZATIONAL GOALS:
1. Leverage the “Strengths” of the organization
2. Offset or improve “Weaknesses
3. Take advantage of available “Opportunities”
4. Minimize the risk of potential “Threats”
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Financial Objectives
Financial objectives are easy to measure
EXAMPLES:
1. Increase profits by 25%
2. Increase sales by 5%
3. Increase the Contribution Margin by 10%
4. Improve gross margin by 15%
Important to ensure all objectives are measurable
“If it can’t be measured, it can’t be improved”
Situational
Analysis
SWOT
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Goals /
Objectives
Strategy
Implementation
Control
Marketing Objectives
When setting marketing objectives, keep in mind:
1. Sales
2. Market share
3. Market positioning
4. Company image
5. Consumer awareness
Marketing objectives need to be measurable as well
so that they can be tracked and followed up on
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Target Market Strategy
Explain why your business is focusing on the target
market groups you have chosen.
ANSWER these questions:
What makes these groups more interesting than the other
groups that you have ruled out?
Why are the characteristics you specify important?
Example: A graphic design firm might target small or
medium-sized businesses that need Internet
websites
Situational
Analysis
SWOT
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Goals /
Objectives
Strategy
Implementation
Control
Messages & Branding
Business needs to answer the following
questions:
1.
What symbols are going to represent the brand?
2.
How does the brand reflect the positioning of your products
or services?
3.
What is the brand’s promise to your customers?
4.
What traits does the brand convey to your customers?
5.
If advertising and marketing the brand, how will you
measure the brand’s effectiveness?
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Messages & Branding
IMPORTANT: Brands are NOT created overnight
Takes careful management to build positive relationship with
customers
Rewards for building a brand are higher profit margins,
competitive security and brand extension efficiencies
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National Football League
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NFL: Building a Brand
Founded in 1920
32 Teams
2014 poll revealed NFL as #1 spectator sport (35%)
in US followed by MLB (14%)
TV Partners: CBS, FOX, NBC, ESPN, NFL Network
Year-round exposure
Hosts 3 NFL games per year in London
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Implementation
As the strategy is developed, a concept for how to implement it
should be formed
Communication is often the biggest obstacle to implementing an
effective marketing plan – internal culture must support the
marketing plan
What will be done? How? When? By Who? At what cost?
Situational
Analysis
SWOT
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Goals /
Objectives
Strategy
Implementation
Control
Control
Once the plan has been implemented, it should be updated
based on some control/feedback mechanisms
Control in the context of a marketing plan is the monitoring and
guidance of implementation progress… and feedback for
future plans
Control
• Formal
Outcome
Goal
Adjustment
+
• Informal
-
• Financial
Situational
Analysis
Implementation
SWOT
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Measurement
Goals /
Objectives
Strategy
Feedback
System
Implementation
Control
We are a feedback and control system…
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Comedic Relief
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Conclusion
Marketing Plan: Action-oriented document setting objectives
for marketing and promotion of the business (based on
known customer needs and wants)
Situational Analysis: Who are you? Who is your customer?
Who is your competition?
SWOT: Don’t make the mistake of neglecting SWOT
Strategy: Create value, address roadblocks, have a target
Implementation
Strategy:What::Implementation:How
Control: Guide implementation and learn for the future
Situational
Analysis
SWOT
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Goals /
Objectives
Strategy
Implementation
Control
Questions
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