Marketing Plan – the Basic Components

1. Marketing Plan – the Basic Components Direct quotes from source: Michael Levens, 2012, “Marketing: Defined, Explained, Applied,” 2nd Edition, Pearson: Boston. Prepared by: Celeste Ng Last updated: January, 2018

2. Marketing Plan - EXPLAINED (1) • The marketing plan outlines those actions that are intended to communicate value傳達價值, generate interest產生興趣, and persuade target customers to purchase說服目標客戶購買 specific products or services. • The inputs投入 to the plan come from consumer insight消費者洞察, marketing intelligence營銷情報, marketing research市場研究, and strategic thinking戰略思考. • A marketing program is a consolidated plan of all individual marketing plans.

3. Marketing Plan - EXPLAINED (2) • The marketing plan consists of six basic sections: • 1. Executive Summary執行摘要 • 2. Company Description公司描述, Purpose, and Goals • 3. Marketing Situation營銷情況 • 4. Forecasting預測 • 5. Marketing Strategy市場策略 • 6. Measurement and Controls衡量和控制 • Creating and updating the marketing plan is the responsibil­ity of the marketing department.

4. Marketing Plan – APPLIED (1) • The most successful marketing plans meet the following criteria: • 1. The plan is realistic and achievable. • 2. The plan can be measured. • The plan has committed organizational resources for implementation. • The plan requirements are clear.

5. 1. Executive Summary執行摘要 • The executive summary provides a brief overview簡要概述of the primary goals主要目標, recommendations建議, and planned actions計劃的行動 included in the marketing plan. • The executive summary is intended to communicate essential information to senior leadership and business stakeholders.

6. 1. Executive Summary – Example (1)

7. 2. Company Description, Purpose, and Goals • The company description identifies the history of the business業務的歷史, its portfolio其投資組合, and value proposition價值主張. • The core competencies of the business企業的核心競爭力, those characteristics特徵that create a competitive advantage競爭優勢,are identified in this section, as is the purpose for the business to exist and its goals, both financial and nonfinancial.

8. 2. Company Description, Purpose, and Goals – Example (1)

9. 2. Company Description, Purpose, and Goals – Example (2)

10. 2. Company Description, Purpose, and Goals – Example (3)

11. 2. Company Description, Purpose, and Goals – Example (4)

12. 2. Company Description, Purpose, and Goals – Example (5)

13. 3. Marketing Situation營銷情況 • The marketing situation section includes an assessment of cus­tomers客戶評估, competitors競爭對手, product portfolio產品介紹, distribution channel分銷渠道, business, and the marketing environment營銷環境, including economic, political legal, cultural, social, and technological factors . • Tools such as the SWOT analysis and BCG growth- market matrix, dis­cussed in earlier chapters, can also assist in completing the marketing situation section.

14. What is BCG matrix? – (1)(Source: SmartInsights, 2018, url: https://www.smartinsights.com/marketing-planning/marketing-models/use-bcg-matrix/) • BCG Matrix (Growth Market Share Matrix) [is used] to review your product portfolio • What is the BCG Matrix? • The Boston Consulting group’s product portfolio matrix (BCG matrix) is designed to: • help with long-term strategic planning, • help a business consider growth opportunities by reviewing its portfolio of products to decide where to invest, to discontinue or develop products. • It's also known as the Growth/Share Matrix. • The Matrix is divided into 4 quadrants based on an analysis of market growth and relative market share, as shown in the diagram below.

15. What is BCG matrix? – (2)(Source: SmartInsights, 2018, url: https://www.smartinsights.com/marketing-planning/marketing-models/use-bcg-matrix/)

16. What is BCG matrix? – (3)(Source: SmartInsights, 2018, url: https://www.smartinsights.com/marketing-planning/marketing-models/use-bcg-matrix/) • 1. Dogs: These are products with low growth or market share. • 2. Question marks or Problem Child: Products in high growth markets with low market share. • 3. Stars: Products in high growth markets with high market share. • 4. Cash cows: Products in low growth markets with high market share • Members can use our guide exploring classical marketing models to learn more about how to apply them to real-world challenges. We also have a free guide for more recent digital marketing models including our Smart Insights RACE digital marketing planning framework.

17. 3. Marketing Situation – Example (1)

18. 3. Marketing Situation – Example (2)

19. 3. Marketing Situation – Example (3)

20. 3. Marketing Situation – Example (4)

21. 3. Marketing Situation – Example (5)

22. 3. Marketing Situation – Example (6)

23. 3. Marketing Situation – Example (7)

24. 3. Marketing Situation – Example (8)

25. 3. Marketing Situation – Example (9)

26. 3. Marketing Situation – Example (10)

27. 3. Marketing Situation – Example (11)

28. 4. Forecasting預測 • The forecasting section includes the anticipated outcomes預期結果 based on achieving predefined marketing goals. • Revenues and expenses are both forecasted in this section. • A mix of judgment and data analysis is used混合使用判斷和數據分析 to consider past performance過去的表現 andthe characteristics influencing that performance影響該表現的特徵, as well as current and future opportunities and threats當前和未來的機會和威脅. • The outcome of the fore­casting process is essential when exploring alternative marketing strategies替代營銷策略.

29. 4. Forecasting – Example (1)

30. 4. Forecasting – Example (2)

31. 4. Forecasting – Example (3)

32. 4. Forecasting – Example (4)

33. 4. Forecasting – Example (5)

34. 5. Marketing Strategy市場策略 • The marketing strategy section identifies the procedures that businesses intend to follow to meet their marketing objectives. The section also identifies the target market確定目標市場, positioning定位, marketing-mix strategies營銷組合策略, and investment require­ments投資要求. • An example might be a company targeting 25- to 35-year-old females with a new personal care product that is positioned as a premium offer against the current market leader針對當前市場領先者的高端報價. • If the brand is new, then the expenditure might be significant to support a wide range of marketing-mix strate­gies.

35. 5. Marketing Strategy – Example (1)

36. 5. Marketing Strategy – Example (2)

37. 5. Marketing Strategy – Example (3)

38. 5. Marketing Strategy – Example (4)

39. 5. Marketing Strategy – Example (5)

40. 5. Marketing Strategy – Example (6)

41. 6. Measurement and controls • Measuring and controlling衡量和控制 consider both financialand nonfinancial factors財務和非財務因素. • Underperforming products and services can be identified and necessary actions taken in context to overall marketing objectives. • Information can be collected and processed through market intelligencesystems通過市場情報系統處理to address a wide range of issues, from customer satisfaction to loyalty從顧客滿意度到忠誠度. • Operational control操作控制, considering results with respect to the stated marketing plan or marketing program, and strategic control, considering the appropriate­ness of overall strategies based on internal and external conditions, should be addressed.

42. 6. Measurement and controls – Example (1)

43. 6. Measurement and controls – Example (2)