Description
Marketing Plan
MARKETING PLAN
• Marketing Plan is defined as :
“A detailed and systematic formulation of program of actions”
• A Marketing Plan specifies 1 Result :- What are the results to be achieved 2 Resources :- What are the types of resources available during implementation stage 3 Responsibilities :- In terms of time frame, monetary & values 4 Controls :- Parameters for evaluation
MARKETING APPLICATION & PRACTICES
1
MARKETING PLAN
Objectives of Marketing Plan
• •
• • •
• •
“Acts as a Road Map” Assists in management control and also monitoring of implementation strategy Inform new participants in the plan of their role and function To obtain Resources for implementation To stimulate thinking and better use of resources. Assignment of Responsibilities, Tasks, Timing Awareness of Problems, Opportunity, Threats
MARKETING APPLICATION & PRACTICES
2
MARKETING PLAN
• CONTENTS
1. Introduction 2. Situation Analysis 3. Target Market Identification 4. Problems & Opportunities 5. Marketing Objectives & Goals 6. Marketing Strategy 7. Marketing Tactics 8. Control & Implementation - What measures ? 9. Summary 10. Appendices
MARKETING APPLICATION & PRACTICES 3
MARKETING PLAN
• Marketing Plan Elements
1. Situation Analysis :
(i) a. Demand & Demand Trends b. Economic & Business Environment c. Social & Cultural factors d. Demographics e. Regulatory Constraints (ii) Neutral Environment a. Financial Environment b. Government Environment c. Special Interest Groups
MARKETING APPLICATION & PRACTICES 4
MARKETING PLAN
• Marketing Plan Elements
1. Situation Analysis :
(iii) Competition Environment SWOT Analysis of Major Identified Competitors (iv) Company Environment SWOT Analysis of your products with respect to Product Quality, Production Capability, Cost of Production, Marketing Capabilities, Finance etc.
MARKETING APPLICATION & PRACTICES
5
MARKETING PLAN
• Marketing Plan Elements (cont.)
2. Target Market :
(i) (ii) (iii) (iv) Segmentation of Target Market Value of Target Segments Forecasting of Sales in each segment Positioning of Company against Competition in chosen segments
MARKETING APPLICATION & PRACTICES
6
MARKETING PLAN
• Marketing Plan Elements (cont.)
3. Problems and Opportunities :
(i) State each Opportunity and indicate why it is considered as an opportunity (ii) State each Problem and indicate how you intend to tackle that problem
4. Marketing Objectives and Goals :
Statement of Marketing Objectives in terms of Sales Volume, Market Share, Cash Flow, Profitability, ROI etc.
5. Marketing Strategy :
(i) Alternative for Overall Strategy (ii) Expected Pay - Off for each alternative and resource requirement for each alternative
MARKETING APPLICATION & PRACTICES 7
MARKETING PLAN
• Marketing Plan Elements (cont.)
6. Marketing Tactics :
–
–
Assembling of Marketing Mixes for chosen strategy Alternate mix combinations to be considered with expected pay - off.
Advantages, Expected Costs, Expected Profits. Differential Advantages of your plan v/s Competition - Why any plan will succeed
7. Summary :
MARKETING APPLICATION & PRACTICES
8
doc_836853361.ppt
Marketing Plan
MARKETING PLAN
• Marketing Plan is defined as :
“A detailed and systematic formulation of program of actions”
• A Marketing Plan specifies 1 Result :- What are the results to be achieved 2 Resources :- What are the types of resources available during implementation stage 3 Responsibilities :- In terms of time frame, monetary & values 4 Controls :- Parameters for evaluation
MARKETING APPLICATION & PRACTICES
1
MARKETING PLAN
Objectives of Marketing Plan
• •
• • •
• •
“Acts as a Road Map” Assists in management control and also monitoring of implementation strategy Inform new participants in the plan of their role and function To obtain Resources for implementation To stimulate thinking and better use of resources. Assignment of Responsibilities, Tasks, Timing Awareness of Problems, Opportunity, Threats
MARKETING APPLICATION & PRACTICES
2
MARKETING PLAN
• CONTENTS
1. Introduction 2. Situation Analysis 3. Target Market Identification 4. Problems & Opportunities 5. Marketing Objectives & Goals 6. Marketing Strategy 7. Marketing Tactics 8. Control & Implementation - What measures ? 9. Summary 10. Appendices
MARKETING APPLICATION & PRACTICES 3
MARKETING PLAN
• Marketing Plan Elements
1. Situation Analysis :
(i) a. Demand & Demand Trends b. Economic & Business Environment c. Social & Cultural factors d. Demographics e. Regulatory Constraints (ii) Neutral Environment a. Financial Environment b. Government Environment c. Special Interest Groups
MARKETING APPLICATION & PRACTICES 4
MARKETING PLAN
• Marketing Plan Elements
1. Situation Analysis :
(iii) Competition Environment SWOT Analysis of Major Identified Competitors (iv) Company Environment SWOT Analysis of your products with respect to Product Quality, Production Capability, Cost of Production, Marketing Capabilities, Finance etc.
MARKETING APPLICATION & PRACTICES
5
MARKETING PLAN
• Marketing Plan Elements (cont.)
2. Target Market :
(i) (ii) (iii) (iv) Segmentation of Target Market Value of Target Segments Forecasting of Sales in each segment Positioning of Company against Competition in chosen segments
MARKETING APPLICATION & PRACTICES
6
MARKETING PLAN
• Marketing Plan Elements (cont.)
3. Problems and Opportunities :
(i) State each Opportunity and indicate why it is considered as an opportunity (ii) State each Problem and indicate how you intend to tackle that problem
4. Marketing Objectives and Goals :
Statement of Marketing Objectives in terms of Sales Volume, Market Share, Cash Flow, Profitability, ROI etc.
5. Marketing Strategy :
(i) Alternative for Overall Strategy (ii) Expected Pay - Off for each alternative and resource requirement for each alternative
MARKETING APPLICATION & PRACTICES 7
MARKETING PLAN
• Marketing Plan Elements (cont.)
6. Marketing Tactics :
–
–
Assembling of Marketing Mixes for chosen strategy Alternate mix combinations to be considered with expected pay - off.
Advantages, Expected Costs, Expected Profits. Differential Advantages of your plan v/s Competition - Why any plan will succeed
7. Summary :
MARKETING APPLICATION & PRACTICES
8
doc_836853361.ppt