A Marketing Plan
A plan that is short-term and specific, and combines both strategy and tactics.
Market planning : The analysis, planning, implementation, evaluation, and control of marketing initiatives in order to satisfy target market needs and organizational objectives
Key Elements of strategic business planning
Objectives - Statements that outline the plan, the companies overall goals and takes direction from mission statement.
Strategies - Statements that outline how objectives will be achieved. Factor in marketing strength, degree of competition, financial resources, research and development capabilities.
Execution - Action plan that outlines how the strategies are to be implemented
Marketing plans consider such matters as the marketing mix, target markets, and control and evaluation mechanisms that determine the effectiveness of the implemented strategies.
Corporate Planning
Mission statement - the purpose and philosophy of a company
Vision statement - the future of the company
Values statement - statements that reflect the company culture and priorities
A Typical Marketing Plan
SITUATIONAL ANALYSIS
External Influences - Economic trends, Social and Demographic trends, Tech
Market Analysis - Size, Growth, Seasonal, Consumer Data and Behaviour, Media, Segment analysis
Product Analysis - Sales Volume, Market Share, New Product Activity, Distribution, Communications
Competitive Analysis - Major competetors analyzed
SWOT Analysis - Factors that impact strategy like strengths, weaknesses, opportunities and threats.
PLAN SECTION
Positioning Strategy, Marketing Objective, Marketing Strategies, Target Market, Marketing Mix and Budget
Fundamental Marketing Strategies
The basic direction an organization takes:
Market Penetration: improving market position
Market Development : existing products to new target market
Product Development : new products or modifies existing products for current customers
Diversification : Invests ressources in a totally new direction
Marketing Control and Evaluation
The process of measuring and evaluating the results of marketing strategies and plans. Taking corrective action to ensure that marketing objectives are attained.
REVIEW, REVIEW, REVIEW
A plan that is short-term and specific, and combines both strategy and tactics.
Market planning : The analysis, planning, implementation, evaluation, and control of marketing initiatives in order to satisfy target market needs and organizational objectives
Key Elements of strategic business planning
Objectives - Statements that outline the plan, the companies overall goals and takes direction from mission statement.
Strategies - Statements that outline how objectives will be achieved. Factor in marketing strength, degree of competition, financial resources, research and development capabilities.
- penetration strategies - agressive and progressive action. Growth is achieved by investing in existing business
- acquisition strategy - acquiring companies that represent attractive financial opportunities
- new product strategy - investment in research and development for innovative products
- vertical and horizontal integration strategies - vertical owns n operates businesses at different levels of the channel of distribution, horizontal owns and operates several companies at the same level of distribution
- strategic alliance strategies - two firms combine strength in different areas and pursue a marketing venture
- divestment strategies - removing an entire division of a company through sale or liquidation
Execution - Action plan that outlines how the strategies are to be implemented
Marketing plans consider such matters as the marketing mix, target markets, and control and evaluation mechanisms that determine the effectiveness of the implemented strategies.
Corporate Planning
Mission statement - the purpose and philosophy of a company
Vision statement - the future of the company
Values statement - statements that reflect the company culture and priorities
A Typical Marketing Plan
SITUATIONAL ANALYSIS
External Influences - Economic trends, Social and Demographic trends, Tech
Market Analysis - Size, Growth, Seasonal, Consumer Data and Behaviour, Media, Segment analysis
Product Analysis - Sales Volume, Market Share, New Product Activity, Distribution, Communications
Competitive Analysis - Major competetors analyzed
SWOT Analysis - Factors that impact strategy like strengths, weaknesses, opportunities and threats.
PLAN SECTION
Positioning Strategy, Marketing Objective, Marketing Strategies, Target Market, Marketing Mix and Budget
Fundamental Marketing Strategies
The basic direction an organization takes:
Market Penetration: improving market position
Market Development : existing products to new target market
Product Development : new products or modifies existing products for current customers
Diversification : Invests ressources in a totally new direction
Marketing Control and Evaluation
The process of measuring and evaluating the results of marketing strategies and plans. Taking corrective action to ensure that marketing objectives are attained.
REVIEW, REVIEW, REVIEW
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