The Marketing Plan

The Marketing PlanPresentation OverviewPurposeSituation AnalysisSWOT AnalysisGoalsMarketing StrategyMarketing Action Plans

Purpose of The Marketing PlanInterpret Ambiguous SituationsMake Assumptions KnownAnalyze/Evaluate DataSet Goals & Make ProjectionsIs a rigorous method that leads to Rational Decision Making

Role of the Situation AnalysisThe Situation Analysis gathers the data that is used in subsequent analyses

Data omitted at this point is often never considered

Current Situation: MarketUnderstanding of the Overall MarketWho are the usersSize and growthWhat wants are being addressedVolatility of demand/wantsHistory & futureSubstitutes, areas for expansion

Current Situation: CompetitionDirect & Indirect Current & Potential:WhoHow manyHow largeThreat levelAnticipated actions

Current Situation: Macro-environmentalCultural/Demographic TrendsSocial/Lifestyle TrendsEconomic ConsiderationsLegal/Political ConcernsPhysical Environmental Issues

Current Situation: Your Firms Past PerformanceGeneral TrendsSBU performance

Market-based Accomplishments and FailuresSkills gained or lost

Future ConsiderationsAnticipated issues

The Situation Analysis Leads to the SWOT AnalysisThe SWOT Analysis identifies the key issues a firm must consider to successfully compete in the industry/market being investigated.

Key IssuesElements of the SWOT ANALYSIS are:Company StrengthsCompany WeaknessesEnvironmental OpportunitiesEnvironmental Threats

These are best presented as a matrix.

A SWOT Matrix IDs:

StrengthOpportunity LinksThreatOpportunity ConversionsWeaknesses that must be Overcome

Goals Follow From SWOTThe SWOT highlights possibilities and the resources needed to pursue them.

GoalsMarketing is how the firm meets many of its financial goals.Goals should includeFinancial objectivesRevenuesLevel of ContributionReturn on InvestmentMarketing objectivesShareDistribution/CoverageExpansionNew Products/Markets

Marketing StrategyIs how the plans goals are met.Sets the confidence level that the goals will be met.

Marketing StrategyProduct-Market SpecificationDescribes the users, the needs being fulfilled and the wants satisfied.

Market SegmentationID variables that can simplify the P-M by dividing it into homogeneous groups of users/potential users.

Marketing StrategyTargetingDetermines which of the market segments you want to develop a marketing mix for

PositioningIdentifies how you want the targeted market segment to think about your brand and offering relative to competitors

Marketing Action PlansAre what implement the marketing strategymore specifically, are what implement its positioning objective.

Marketing Action PlansProduct StrategyCreates form utility that meets needs and wants.

Pricing StrategyCreates value perceptions that impact demand.

Channel StrategyCreates time & place utility.

Promotion StrategyCreates awareness & preference