Transcript Lesson 2-1 PowerPoint Notes

Marketing
Planning
Chapter
2
The Marketing Plan
• Section 2.1 Marketing Planning
• Section 2.2 Market Segmentation
Market Planning
LESSON 2.1
Marketing Planning
Key Terms
SWOT analysis
environmental
scan
marketing
plan
executive
summary
situation
analysis
marketing
strategy
sales forecasts
performance
standard
Objectives
• Conduct a SWOT analysis
• List the three key areas of an internal company
analysis
• Identify the factors in an environmental scan
• Explain the basic elements of a marketing plan
Marketing Essentials Chapter 2, Section 2.1
Marketing Planning
Study Organizer
Follow the outline to identify the steps of a
marketing plan.
Marketing Essentials Chapter 2, Section 2.1
Marketing Planning
• Good marketing relies on good plans
• Planning begins with looking at your business (internal)
and the external business environment its operating in
A business can analyze itself with a SWOT analysis:
• SWOT analysis - An assessment of a company’s
strengths and weaknesses and the opportunities and
threats that surround it;
•
•
•
•
Strengths
Weaknesses
Opportunities
Threats
Marketing Planning
•The SWOT Analysis helps because it:
• Lists everything that can foster the business
success (strengths)
• Lists what could make it fail (weaknesses)
• Increases your ability to be more competitive as it
provides guidance and direction for future
marketing strategies (opportunities)
• Prepares a company to handle threats from
competition or a changing marketplace (threats)
SWOT Analysis
•Internal Factors
• Strengths and Weaknesses
• Center Around the Three C’s
•External Factors
• Opportunities and Threats
• Based on the acronym PEST
Internal Strengths and Weaknesses
Strengths and weaknesses are internal factors that
affect a business’s operation.
What do you think the
three “C”s are?
The three C’s of
internal analysis
C
ustomers
C
ompetition
C
ompany
1. Company Analysis
When evaluating itself, a company must analyze these areas:
a) Company staff
b) Financial situation
c) Production capabilities
d) The four Ps of the Marketing Mix:
1. Product
2. Place
3. Price
4. Promotion
Marketing Essentials Chapter 2, Section 2.1
Company Analysis
A. Company Staff
– What is our mission statement and do staff know it and follow it
– Are executives experienced and what have they accomplished
– Too much or not enough staff to provide quality customer service
• Formal training and assessment programs for staff
– Quality staff – effectiveness of sales force
B. Financial Questions:
– Are you profitable
– Enough financial resources to achieve goals
– Sales history – are sales increasing or decreasing
Company Analysis
C. Production Capabilities
– How are adjustments to production due to increase/decrease in
sales orders
– Has Research & Development created new successful products
– Percentage of sales from products older than 5 years
– What changes in technology are required to be competitive
Company Analysis
D. Marketing Mix (Four Ps Questions)
– Product:
• What new products are successful and why
• Patent on any products or are any expiring
• Branding Image
– Price:
• What are present pricing strategies and are they working
– Promotion:
• How is the company positioned in the marketplace
• Are promotional strategies successful
• Company’s reputation with it’s customers
– Place:
• Do products easily reach customers
• Who helps with distribution
2. Customer Analysis
• Companies study customer buying patterns using surveys or
conducting interviews with people in their target markets
• These methods gather information that helps to:
• find out what customers are pleased or dissatisfied with
• create interest-specific ads and catalogs
Who are the customers?
What do customer
surveys and
customer interviews
reveal?
How do groups of customers differ
from one another?
What, when, where, and how much
do they buy?
How do customers rate the company
on quality, service, and value?
Is your customer base increasing or
decreasing? Why?
3. Competitive Position
Strengths and weaknesses compared to competitors
What is the company’s market share?
Questions that help a
company analyze its
internal competitive
position:
What advantages does the company
have over its competitors?
What core competencies does the
company possess?
Are competitors taking business
away? Why?
Marketing Essentials Chapter 2, Section 2.1
Assignment:
1. In essay format, and in your own words, define the Acronym
SWOT. This means define what it is used for and what the
acronym stands for. Also define four reasons why it is beneficial.
Essay formats should have an introduction sentence and 5 – 6
sentences with details that respond to the question. Hand this into
the class inbox to be graded.
2. Draw a large table on the second half of your page that has two
columns and two rows like shown below. Think about school and
how you are doing in your classes. Do a partial SWOT analysis on
yourself. List four of your strengths and four weaknesses as it
pertains to any of your school related activities.
Strengths
Weaknesses