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Marketing Plan

Marketing Plan. Marketing 1. What is a Marketing Plan?. A written document that provides direction for the marketing activities for a specific period of time It is a critical planning tool for any business, regardless of industry Defines goals and strategies Serves as the “game plan”

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Marketing Plan

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  1. Marketing Plan Marketing 1

  2. What is a Marketing Plan? • A written document that provides direction for the marketing activities for a specific period of time • It is a critical planning tool for any business, regardless of industry • Defines goals and strategies • Serves as the “game plan” • Communicates the goals, objectives, and strategies of a company to its employees

  3. Key components of an effective Marketing Plan: • Mission Statement • Executive Summary • Situation or S.W.O.T. Analysis • Marketing Goals / Objectives • Market Research / Marketing Strategies • Implementation • Evaluation and Control

  4. 1. Mission Statement • A written statement that captures an organization’s purpose, customer orientation and business philosophy • The majority of marketing strategies are founded on the basis of the mission statement content

  5. 2. Executive Summary • Introduce the Company • Overview of the Marketing Plan • Explain all of the key elements of the Marketing plan in a shorter form • Focus your ideas and goals in a short summary

  6. 3. Situation (S.W.O.T.) Analysis S Strengths W Weaknesses O Opportunities T Threats

  7. 4. Marketing Goals & Objectives • Statement of what results you want to achieve with your marketing • Building blocks of your marketing plan • Specific, Measurable, Attainable, Realistic & Timely • Big number such as - a year end revenue figure • Small number such as – acquire 4 new clients per month • Company culture – To be number 1 in customer satisfaction in the sports equipment industry Ex: Disney’s goal is to make people happy!

  8. 5. Market Research / Marketing Strategies • Market Research: Gain valuable insights about your customers, competitors, & products • Marketing Strategies: • Establish guidelines for how to use the information gathered from market research • Define where the company fits in among competitors: Leader, Follower, challenger, or niche company

  9. 6. Implementation • Blue Print for marketing your products and services • Step by Step guide for delivering your marketing strategy • 8 Key Steps for successful Implementation: • Set the right expectations • Build the team and secure resources • Communicate the Plan • Build timeline and tasks • Set up a dashboard for tracking success • Monitor and Check-in Regularly • Be willing to adapt • Communicate results and celebrate Success!!

  10. 7. Marketing Evaluation Techniques used after the marketing plan period to analyze success in achieving individual marketing objectives and to more broadly assess the entire organization’s marketing efforts Techniques: • Sales analysis • Market-share analysis • Marketing cost and profitability analysis • Efficiency ratios • Marketing-effectiveness rating review • Marketing audit

  11. Self-Assessment

  12. Self-Assessment:

  13. 1. Values • Beliefs that guide the way we live • Examples: • Service to others • Self-Expression • Teamwork • Personal achievement • Recognition • Family

  14. 2. Interests • Things you enjoy • Examples include: • Leisure activities • Hobbies • School activities • Class or subjects • Social activities • Books • TV shows or movies

  15. 3. Skills & Aptitudes Skill • Ability or natural talent Aptitude • Potential to learn a certain skill Examples include: • Creative thinking • Languages • Communication • Leadership • Sports • Customer service • Organization • Sales

  16. 4. Personality • Combination of all the unique qualities that make you who you are • Sum of total feelings, actions, habits, and thoughts

  17. 5. Personal Preferences • Work Environment • Indoors / Outdoors • Relaxed / Fast Pace • Sitting / Standing • Relationships • Teamwork / Alone • Data / Objects / People • Delegate / Self-Start • Level of Supervision

  18. Project Time • Work Independently • Create a Personal Marketing Plan for YOU • Email to your teacher * See Project document for Assignment Details

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