1. Rural Marketing Plan
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Transcript of 1. Rural Marketing Plan
RURAL MARKETING PLANDr. Sanjay Jain
Associate Professor
IMS, Ghaziabad
WHAT IS A MARKETING PLAN?
A marketing plan is a written document that summarizes what the marketer has learned about the market place and indicates how the firm plans to reach its marketing objective/s.
The Marketing Plan is a highly detailed, heavily researched and well written report that many inside and outside the organization evaluate.
MARKETING PLAN
The Marketing Plan is generally undertaken for one of the following reasons:1. As part of the yearly planning process within
the marketing functional area2. Needed for a specialized strategy (e.g. new
product planning, entering new markets, or trying a new strategy to fix an existing problem)
3. As a component within an overall business plan
HOW TO WRITE A MARKETING PLAN
1. PURPOSE 2. SITUATIONAL ANALYSIS3. MARKETING STRATEGY AND OBJECTIVES4. TACTICAL MARKETING PROGRAMS5. BUDGETING, PERFORMANCE ANALYSIS AND
IMPLEMENTATION6. ADDITIONAL CONSIDERATIONS
1. PURPOSE OF THE MARKETING PLAN
Offer brief explanation for why this plan was produced
Suggest what may be done with the information contained in the plan
2. SITUATIONAL ANALYSIS
i. Current Product Analysisii. Customer Analysisiii. Competitor Analysisiv. Environmental Analysis (Opportunities &
Threats)
I. CURRENT PRODUCT ANALYSIS
Product Attributes Pricing Distribution Promotion Services Offered Sales Analysis
II. CUSTOMER ANALYSIS demographic/psychographic profile of the market:
gender, income, age, occupation, education, family life cycle, geographic region, lifestyle, attitudes, purchasing characteristics, etc.
characteristics of customers: Needs/benefits sought by market Product usage: Who, why, when, how? Customer Perception and attitude
purchasing process: How does they make their purchase?
decision-making process, decision maker, information sought for purchasing,
Who makes the purchase? Does user purchase or is other party responsible (e.g., parent
purchasing for children)? Who or what influence the purchase?
market size estimates:
III. COMPETITOR ANALYSIS
Describe direct competitors in terms of:Target markets servedProduct attributes, Pricing, Promotion,
Distribution networkServices offered
Discuss competitor’s strengths and weaknesses
IV. ENVIRONMENTAL ANALYSIS (OPPORTUNITIES & THREATS)
Describe trends, events, conditions that are external (usually uncontrolled by the company) that may impact the company’s product(s) or the market.social and culturaldemographiceconomictechnologicalpolitical legal, regulatory, ethical
3. MARKETING STRATEGY & OBJECTIVE(S)
Marketing Strategy Segmentation Target Market (who will be our customer) Positioning Branding etc
4. TACTICAL MARKETING PROGRAMS
It contains descriptions of Marketing Mix or detailed tactics to be carried out to achieve the objectives and goals established in Step 3. Product Promotion Pricing Distribution Other Areas
5. BUDGETING, FINANCIAL ANALYSIS AND IMPLEMENTATION
Marketing Budgetlay out spending requirements necessary for
meeting the plan’s objectives Outline spending requirements for each tactical
marketing decision Breakdown each tactical category
e.g., types of advertising, types of services offered, marketing research expense, etc.
Show detailed spending timetable by: Month, Year
Show spending by: Product (if plan is for more than one) Segment/Geographic area Distribution Network/Channel
FINANCIAL ANALYSIS
Financial Projections Cash flow/revenue Scenario analysis Profitability
Breakeven Analysis Marketing Contribution Ratio Analysis
Limit to important marketing ratios e.g., sales cycle, advertising-to-sales,
conversions from trial to purchase, website traffic-to-search engine marketing, etc.
6. ADDITIONAL CONSIDERATIONS
potential situations that may affect the plan Internal Factors External Factors Research Limitations