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  • 1. Unit Test is all Quiz Lessons combinedin random order.

2. Creating and Implementing a Marketing PlanRyan Contreras, M.A. Educational Transfer Plan Special thanks to Cassatt Corporation 3. Table of ContentsMarketing isassociated with identifying the particular wantsand needs of a target market of customers.this involves doing market research oncustomers, analyzing their needs, and thenmaking strategic decisions about productdesign, pricing, promotion and distributionCreating and Implementing aMarketing PlanIISME Educational Transfer Plan 4. Table of ContentsA Target Profile is Income AgePoliticalTrendsLocation Know your Audience.Organized Remember that you are selling to people. GroupsCreating and Implementing aMarketing PlanIISME Educational Transfer Plan 5. Table of ContentsTable of Contents These slides can be used for a stand alone presentation or as a self taught unit.Learning ObjectivesLesson One: ResearchLesson Two: Marketing MixLesson Three: Marketing PlanLesson Four: Selling Your Product VocabularyStudy GuideCreating and Implementing aMarketing PlanIISME Educational Transfer Plan 6. Table of Contents Learning Objectives Students learn marketing vocabulary and concepts. Students learn the importance of having a Marketing Plan. Students will create their own Marketing Plan. Students make decisions based off of their new knowledge and research.Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 7. Lesson One:The Research 8. Table of Contents Market Research: Why Do It?Marketing research focuses and organizes marketinginformation. It ensures that such information is timelyand permits entrepreneurs to: Identify market opportunities Develop plans of action Learn how to Introduce Product to Market Reduce business risks Spot current and upcoming problems in the currentmarket Creating and Implementing a Marketing Plan IISME Educational Transfer Plan 9. Table of Contents Lesson One: Market ResearchWhat can you learn?Prove or Disprove Thesis.Who are my customers and potential customers?What kind of people are they?Where do they live?Can and will they buy?Am I offering the kinds of goods or services they want - at the best place, at the best time and in the right amounts?Are prices consistent with buyers view as the products value?Might my promotions work?What do customers think of my business?How does my business compare with my competitors?Size of Market/Total Available Market?Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 10. Table of ContentsHow to Perform Market ResearchMarketing Research Process:1. Define Thesis2. Set Objectives, Budget, and Timetables3. Select Research Types, Methods, and Techniques4. Design Research Instruments5. Collect Data6. Organize and Analyze the Data7. Present and Use Market Research FindingsCreating and Implementing aMarketing PlanIISME Educational Transfer Plan 11. Table of Contents Marketing Research Process: Step 1Step One: Define Marketing Problems and Opportunities begins with identifying and defining the problems and opportunities that exist for your business, such as: Launching a new product or service. Low awareness of your company and its products or services. Low utilization of your companys products or services. (The market is familiar with your company, but still is not doing business with you.) A poor company image and reputation. Problems with distribution, your goods and services are not reaching the buying public in a timely manner.Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 12. Table of Contents Marketing Research Process: Step 2 Set Objectives Set Budget Set TimetablesCreating and Implementing aMarketing PlanIISME Educational Transfer Plan 13. Table of Contents Marketing Research Process: Step 3Determine which type of research you will use: Primary Research or Original Information gathered fora specific purpose (ex. Survey or Questionnaire andFocus Group) Secondary Research or Information that already existssomewhere (ex. A Technical Report about the Sales ofShoes) Survey will give you more Qualitative Results.Questionnaire will give you more Quantitative Results.Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 14. Table of ContentsMarketing Research Process:Step 4creating a Questionnaire Identify screener to make sure you get data from Target Market. Keep it simple. Include instructions for answering all questions included on thesurvey. Begin the survey with general questions and move towards morespecific questions. Keep each question brief. Design a questionnaire that is graphically pleasing and easy to read. Remember to pre-test the questionnaire. Have someone you knowtake it. Mix the form of the questions (ex. scales, rankings, open-endedquestions and closed-ended questions. Create non-biased questions Creating and Implementing a Marketing PlanIISME Educational Transfer Plan 15. Table of Contents Marketing Research Process:Step 5Collect the DATA! To help you obtain clear, unbiased and reliableresults, do trial-runs before distribution. Make sure it is from your Target Market Stick to the objectives and rules associated withthe methods and techniques you have set in StepTwo and Step Three. Try to be as scientific aspossible in gathering your information.Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 16. Table of Contents Marketing Research Process:Step 6Organize and Analyze DataSome helpful tips for organizing and analyzing your data are listed below: Look for relevant data that focuses on your immediate marketneeds. Rely on subjective information only as support for more generalfindings of objective research. Analyze for consistency; compare the results of differentmethods of your data collection. For example, are the marketdemographics provided to you from the local media outletconsistent with your survey results? Quantify your results; look for common opinions that may becounted together. Read between the lines. For example, combine U.S. CensusBureau statistics on median income levels for a given locationand the number of homeowners vs. renters in the area.Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 17. Table of ContentsMarketing Research Process:Step 7...Present and Use Findings Present findings to the companies decision makers (ieCEO, Marketing VP, Sales VP or Director) Insert your finding in the market analysis section ofyour business plan. Train and familiarize your sales and marketingdepartments with the data. Conduct a company-wide informational trainingseminar using the information. In summary, the resulting data was created to helpguide your business decisions, so it needs to be readilyaccessible to the decision makers.Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 18. Table of Contents Marketing Research Successful marketing requires timely and relevant marketinformation. An inexpensive research program, based on questionnaires givento current or prospective customers, can often uncoverdissatisfaction or possible new products or services. Market research will also identify trends that affect sales andprofitability. Population shifts, legal developments, and the local economicsituation should be monitored to quickly identify problems andopportunities. It is also important to keep up with competitors marketstrategies.Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 19. Table of ContentsFocus Groups Is an interview with a group of potentialcustomers Get valuable ideas on products or services. Ask the same questions as on a survey orquestionnaire, but get more in-depth discussionabout a topic. Focus Groups are led by a Moderator. They are usually recorded so that comments canbe reviewed carefully after the session is over.Creating and Implementing aMarketing PlanIISME Educational Transfer Plan 20. Lesson Two:Marketing Mix 21. Table of ContentsLesson Two: Marketing Mix The Four PsThe marketing mix is probably the most famous phrasein marketing. The elements are the marketing tactics.Also known as the four Ps, the marketing mixelements are price, place, product, and promotion.Product |Place |Promotion| PricingCreating and Implementing aMarketing Plan IISME Educational Transfer Plan 22. Table of ContentsLesson Two: Marketing Mix Product The Product area is concerned with developingthe right product for the target market. Product Mix Features Branding, packaging, and labelingProduct |Place |Promotion| PricingCreating and Implementing aMarketing Plan IISME Educational Transfer Plan 23. Table of ContentsLesson Two: Marketing MixPlace Place is concerned with all the decisionsinvolved in getting the right product to thetarget markets place. A channel of distributionis any series of firms (or individuals) fromproducer to final user or consumer. Product: Product |Place |Promotion| PricingCreating and Implementing aMarketing PlanIISME Educational Transfer Plan 24. Table of ContentsLesson Two: Marketing MixPromotion Promotion is concerned with telling the targetmarket about the right product. Promotionincludes personal selling, mass selling, and salesand promotion.Product |Place |Promotion| PricingCreating and Implementing aMarketing Plan IISME Educational Transfer Plan 25. Table of ContentsLesson Two: Marketing MixPrice In setting a price, they must consider the kind ofcompetition in the target market and the costof the whole market mix.Product |Place |Promotion| PricingCreating and Implementing aMarketing Plan IISME Educational Transfer Plan 26. Table of ContentsMarketing StrategyA marketing strategy identifies customer groups which abusiness can better serve than its competitors: It tailors product offerings It tailors prices Its distribution Its promotional efforts and its servicestoward those market segments.Creating and Implementing aMarketing Plan IISME Educational Transfer Plan