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MKTG 4890 Week 11

MKTG 4890 Week 11. Marketing Plan Outline (A & B) Marketing Plan Outline (C) Financials. Marketing Planning Outline. A. Executive Summary Marketing Plan Overview 1.Key Points of Marketing Plan 2.Organizational Mission and Marketing Plan Relationship.

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MKTG 4890 Week 11

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  1. MKTG 4890 Week 11 Marketing Plan Outline (A & B) Marketing Plan Outline (C) Financials

  2. Marketing Planning Outline A. Executive Summary Marketing Plan Overview 1.Key Points of Marketing Plan 2.Organizational Mission and Marketing Plan Relationship

  3. B. Situational Analysis 1. The Environment A. Business and Product/Service Description 1. Describe the Industry (U.S. Only) 2. Describe the Business (U.S. Only) 3. Describe the Product/Service and the Fit B. Market Environment 1. Describe the Market Potential 2. Define the Actual Market Size 3. Describe Demand Trend for Product/Service 4. Identify Current Market Segments 5. Describe Market Segments Currently Targeted 6. Specify Immediate Important Competitors (Top 5)

  4. 7. Describe Differential Advantage(s) by Segment 8. Describe Product/Service Usage 9. Compare the Competitive Players 10. Compare Competitor’s Resources 11. Identify Additional Segments to Target 12. Analyze Potential Competition C. Macro Environment 1. Define the Impact of Economic Trends 2. Define the Impact of Social/Cultural Trends 3. Define the Impact of Political/Legal Trends 4. Define the Impact of Related Technology

  5. 2. THE PRODUCT • Evaluating the Product as an Innovation. Evaluate the innovative characteristics of the product as perceived by intended market: 1. Relative advantage 2. Compatibility 3. Complexity 4. Trialability 5. Observability • Major Problems and Resistance to Product Acceptance - Based on the above, list the problems and resistance to market acceptance of the product.

  6. 3.Customer Analysis:Consumer • Who they are: • Purchaser • User • What they buy: • Amount • Brand, features • Usage situation • Where they buy it: • When they buy it: • Time of year • On sale/promotion

  7. Customer Analysis (cont.) • How they choose: • Decision participants • Process • Info. sources • Why they select a product: • Customer value • Functional attributes • Service • Image • Brand equity

  8. Customer (B2B) • Describe the market(s) in which the product is to be sold: 1. Characteristics of Customer Groups and per capita purchases by: - Intended use of product - Firm size - Firm income - Geographic region

  9. Customer (B2B) 2. Distribution of Product - Typical retail sales outlets (Product Sales by retail store group) - Typical middlemen (Product Sales by Middlemen- type)

  10. 4. Competition • Competition (Describe the significant differences existing between your product and competition’s product). 1. Competitive product(s) 2. Competitive price(s) 3. Competitive promotion 4. Competitive distribution methods

  11. Competition(Continued…) • Direct Competitors • Substitute Products 3. Price - Price range for competing products - Price range for comparable products 4. Advertising and promotion - Major advertising media customarily used to reach the target market - Sales promotions customarily used (coupons, sampling, etc.)

  12. C. MARKETING STRATEGY The section should reflect, in your judgment, the most effective ways to overcome the problems described above and to produce maximum sales/profit. Marketing Objective(s) 1. Target Market(s) (specific description of the market) 2. Expected sales 2011-2015 3. Profit expectations 2011-2015 4. Market penetration and coverage

  13. MARKETING STRATEGY(Cont.) • Product 1. Name 2. Package Adaptation 3. Product features • Price 1. Selling Price 2. Price Changes (Rationale for)

  14. MARKETING STRATEGY(Cont.) • Promotion (Maximum of 10% of Sales Revenues) 1. Advertising - Objectives - Media mix - Costs & Timing Pattern 2. Sales Promotion (Trade Shows, Conventions) - Objectives - Costs & Timing Pattern 3. Personal Selling - Sales Objectives - Costs (Commission Rate)

  15. Level Rising Falling Alternating (1) (2) (3) (4) Concen- trated (5) (6) (7) (8) Continuous (9) (9) (10) (11) (12) Number of messages per month Inter- mittent Month Promotional Timing Patterns

  16. Marketing Planning Outline F. Financials a. Prepare a Sales Budget b. Prepare Final Profit Forecasts 1. First year Forecasts 2. Years 1 – 5 Forecast

  17. Market Penetration (Units)

  18. Sales Budget year 1

  19. Sales Budget (years 1-5) Total 1000 $8.4m

  20. FINANCIAL STATEMENTS Marketing Budget 1. Product Cost (assume 45% of Selling Price) 2. Selling expense (Commission only) 3. Sales Promotion expense 4. Advertising Pro Forma Annual and 5-Year Profit and Loss Statement

  21. Pro Forma Financials (Yr. 2011) K$

  22. Pro Forma Financials (Yrs. 2011-2015) K$

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