MARKETING PLAN

• ELEMENTS OF MARKETING PLAN

• PROCESS OF MARKETING PLANNING

• MARKET PLAN REPORT

MARKETING PLAN

Elements of a Marketing PlanI. Description of Product or Service - describe your product or

service - emphasize special features, i.e., the selling pointsII. Description of Competitors - market research data -

demand for product or service - nearest direct and indirect competitors - strengths and weaknesses of competitors - assessment of how competitors businesses are doing - description of the unique features of your product or service - similarities and dissimilarities between your product or service and competitors

III. Description of the Target Market - age - sex - profession - income level - educational level - residence.

MARKETING PLAN

IV. Marketing Budget - advertising and promotional plan - costs allocated for advertising and promotions - advertising and promotional materials - list of advertising media to be used and an estimate of cost for each medium

V. Description of Location - description of the location - advantages and disadvantages of location

VI. Pricing Strategy - pricing techniques and brief description of these techniques - retail costing and pricing - competitive position - pricing below competition - pricing above the competition - price lining - multiple pricing (for service businesses only) - service components - material costs - labor costs - overhead costs

MARKETING PLAN

A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.

MARKETING PLAN1 The marketing planning process

– 1.1 Corporate mission – 1.2 Corporate vision – 1.3 Objectives for non-profit-making organizations – 1.4 Marketing audit – 1.5 Analysis – 1.6 Marketing objectives – 1.7 Emergent strategy – 1.8 Marketing strategies – 1.9 Detailed plans and programmes

2 Content of the marketing plan – 2.1 Small business – 2.2 Medium-sized and large organizations

MARKETING PLAN

3 Measurement of Progress 4 Performance analysis

4.1 Sales analysis 4.2 Market share analysis 4.3 Expense analysis 4.4 Financial Analysis 4.5 Use of Marketing Plans

5 Budgets as Managerial Tools 5.1 Approaches to budgeting

MARKETING PLANContent of the marketing plan typically includes:Title page Executive Summary Current Situation - Macroenvironment

– economy – legal – government – technology – ecological – sociocultural – supply chain

Current Situation - Market Analysis – market definition – market size – market segmentation – industry structure and strategic groupings – competition and market share – competitors' strengths and weaknesses – market trends

Current Situation - Consumer Analysis nature of the buying decision – participants demographics – psychographics – buyer motivation and expectations loyalty segments

MARKETING PLANCurent Situation - Internal

– company resources – financial – people – time – skills – objectives – mission statement and vision statement – corporate objectives – financial objective – marketing objectives – long term objectives – description of the basic business philosophy – corporate culture – Summary of Situation Analysis – external threats – external opportunities – internal strengths – internal weaknesses – Critical success factors in the industry – our sustainable competitive advantage

MARKETING PLANMarketing research

– information requirements – research methodology – research results – Marketing Strategy - Product – product mix – product strengths and weaknesses – perceptual mapping – product life cycle management and new product development

Brand name, – brand image, and brand equity – the augmented product – product portfolio analysis

Marketing Strategy - segmented marketing actions and market share objectives – by product, – by customer segment, – by geographical market, – by distribution channel

MARKETING PLAN. Marketing Strategy - Price

– pricing objectives pricing method (eg.: cost plus, demand based, or competitor indexing) – pricing strategy (eg.: skimming, or penetration) – discounts and allowances – price elasticity and customer sensitivity – price zoning – break even analysis at various prices

Marketing Strategy - promotion – promotional goals – promotional mix – advertising reach, frequency, flights, theme, and media – sales force requirements, techniques, and management – sales promotion – publicity and public relations – electronic promotion (eg.: Web, or telephone) – word of mouth marketing (buzz) – viral marketing

MARKETING PLANMarketing Strategy - Distribution

– geographical coverage – distribution channels – physical distribution and logistics – electronic distribution – Implementation – personnel requirements assign responsibilities – give incentives – training on selling methods – financial requirements management information systems requirements – month-by-month agenda

PERT or critical path analysis – monitoring results and benchmarks – adjustment mechanism – contingencies (What if's) – Financial Summary – assumptions – pro-forma monthly income statement – contribution margin analysis – breakeven analysis – Monte Carlo method

ISI: Internet Strategic Intelligence Scenarios

– Prediction of Future Scenarios Plan of Action for each Scenario Appendix

– pictures and specifications of the new product – results from research already completed