2. A Marketing Plan
A marketing plan is a written document
containing the guidelines for the business
center’s marketing programs and allocations
over the planning period.
3. Industry Analysis
To provide sufficient knowledge of the
environment.
With the help of secondary sources as well
as personal interview and questionnaire etc.
4. Competitors Analysis
Current strategy of the primary competitor.
By using public info as well as newspaper,
websites, catalogs, promotions interviews
etc.
5. Marketing Research
Defining the Purpose of Objective
Gathering Data from Secondary Sources
Gathering Data from Primary Sources
Analyzing and Interpreting the Result
6. STEPS IN THE PLANNING
PROCESS
1.
2.
3.
4.
5.
6.
7.
8.
Update historical data
Collect current situation data
Data analysis
Develop objectives, strategies, programs
Develop financial documents
Negotiate final plan
Measure progress toward objectives
Audit
8. 3. Marketing Goals and Objectives
4. Marketing Strategy
5. Implementation
6. Budget
7. Evaluation & Control
9. FREQUENT MISTAKES IN THE
PLANNING PROCESS
1.
2.
3.
4.
5.
6.
7.
Speed of the process
Amount of data collected
Who does the planning?
Structure
Length of the plan
Frequency of planning
Insufficient senior management leadership
10. Understanding the marketing plan
Establish the strategy that how the
entrepreneur will compete and assign cost to
these strategies.
Where have we been?
Where do we want to go?
How do we got there?
11. Characteristics of Marketing plan
Should provide strategy for accomplishing
goals.
Should be based on facts.
Implementation should be well structured.
Should be continuity for each year.
Should be simple and short.
Plan should be flexible.
Should specify performance criteria.
14. A market segment should be:
measurable
accessible by communication and distribution
channels
different in its response to a marketing mix
durable (not changing too quickly)
substantial enough to be profitable
15. Consumer Market Segmentation
A basis for segmentation is a factor that varies among
groups within a market, but that is consistent within
groups. One can identify four primary bases on which
to segment a consumer market:
Geographic segmentation is based on regional
variables such as region, climate, population density,
and population growth rate.
Demographic segmentation is based on variables
such as age, gender, ethnicity, education, occupation,
income, and family status.
16.
Psychographic segmentation is based on
variables such as values, attitudes, and
lifestyle.
Behavioral segmentation is based on
variables such as usage rate and patterns,
price sensitivity, brand loyalty, and benefits
sought.
17. Business Market Segmentation
While many of the consumer market
segmentation bases can be applied to
businesses and organizations, the different
nature of business markets often leads to
segmentation on the following bases:
Geographic segmentation - based on
regional variables such as customer
concentration, regional industrial growth rate,
and international macroeconomic factors.
18.
Customer type - based on factors such as
the size of the organization, its industry,
position in the value chain, etc.
Buyer behavior - based on factors such as
loyalty to suppliers, usage patterns, and order
size.
19. Targeting
Target marketing tailors a marketing mix for one or
more segments identified by market segmentation.
Target marketing contrasts with mass marketing,
which offers a single product to the entire market.
Two important factors to consider when selecting a
target market segment are the attractiveness of the
segment and the fit between the segment and the
firm's objectives, resources, and capabilities.
20. Attractiveness of a Market Segment
The following are some examples of aspects
that should be considered when evaluating the
attractiveness of a market segment:
Size of the segment (number of customers
and/or number of units)
Growth rate of the segment
Competition in the segment
Brand loyalty of existing customers in the
segment
Attainable market share given promotional
budget and competitors' expenditures
21. Target Market Strategies
There are several different target-market strategies
that may be followed. Targeting strategies usually can
be categorized as one of the following:
Single-segment strategy - also known as a
concentrated strategy. One market segment (not the
entire market) is served with one marketing mix. A
single-segment approach often is the strategy of
choice for smaller companies with limited resources.
Selective specialization- this is a multiple-segment
strategy, also known as a differentiated strategy.
Different marketing mixes are offered to different
segments. The product itself may or may not be
different - in many cases only the promotional
message or distribution channels vary.
22. Contd.
Product specialization- the firm specializes in a
particular product and tailors it to different market
segments.
Market specialization- the firm specializes in serving
a particular market segment and offers that segment
an array of different products.
Full market coverage - the firm attempts to serve the
entire market. This coverage can be achieved by
means of either a mass market strategy in which a
single undifferentiated marketing mix is offered to the
entire market, or by a differentiated strategy in which a
separate marketing mix is offered to each segment.
24. Strengths
A firm's strengths are its resources and capabilities that can be
used as a basis for developing a competitive advantage.
Examples of such strengths include:
patents
strong brand names
good reputation among customers
exclusive access to high grade natural resources
favorable access to distribution networks
25. Weaknesses
The absence of certain strengths may be viewed as
a weakness. For example, each of the following may
be considered weaknesses:
lack of patent protection
a weak brand name
poor reputation among customers
high cost structure
lack of access to the best natural resources
lack of access to key distribution channels
26. Opportunities
The external environmental analysis may reveal
certain new opportunities for profit and growth.
Some examples of such opportunities include:
an unfulfilled customer need
arrival of new technologies
loosening of regulations
removal of international trade barriers
27. Threats
Changes in the external environmental also
may present threats to the firm. Some
examples of such threats include:
shifts in consumer tastes away from the firm's
products
emergence of substitute products
new regulations
increased trade barriers
28. Establishing Goals & Objectives
Statements of level of performance desired
by new venture.
29. Defining marketing strategy & Action
Programs
Specific activities outlined to meet the venture’s
business plan goals and objectives.
30.
31. Product
The term "product" refers to tangible, physical products as
well as services. Here are some examples of the product
decisions to be made:
Brand name
Functionality
Styling
Quality
Safety
Packaging
Repairs and Support
Warranty
Accessories and services
32. Price
Some examples of pricing decisions to be made
include:
Pricing strategy (skim, penetration, etc.)
Suggested retail price
Volume discounts and wholesale pricing
Cash and early payment discounts
Seasonal pricing
Bundling
Price flexibility
Price discrimination
33. Distribution (Place) Decisions
Distribution is about getting the products to the customer.
Some examples of distribution decisions include:
Distribution channels
Market coverage (inclusive, selective, or exclusive
distribution)
Specific channel members
Inventory management
Warehousing
Distribution centers
Order processing
Transportation
Reverse logistics
34. Promotion Decisions
In the context of the marketing mix, promotion represents the
various aspects of marketing communication, that is, the
communication of information about the product with the goal of
generating a positive customer response. Marketing
communication decisions include:
Promotional strategy (push, pull, etc.)
Advertising
Personal selling & sales force
Sales promotions
Public relations & publicity
Marketing communications budget
