Presentation on theme: "Employ marketing-information to develop a marketing plan"— Presentation transcript:
1 Employ marketing-information to develop a marketing plan Indicator 1.03Employ marketing-information to develop a marketing plan
2 Define the term marketing plan. A written document that specifies how, where, and to whom a business plans to market its product(s) and/or brand(s).A small business typically creates a one-year marketing plan.Larger business may develop five-year marketing plans.A marketing plan may be part of a more comprehensive business plan.
3 Explain benefits associated with having a marketing plan. Can help to define a business and its goalsCan serve as a roadmap to guide business actions and decision-makingCan help a business to focus on its target marketCan act as a measuring stick against which to measure business performanceCan unite business employees toward common goals and make employees feel like part of a cohesive teamCaptures people’s thoughts and ideas in writing
4 Identify the components of a marketing plan. Executive SummarySituation AnalysisMarketing Goals and ObjectivesMarketing StrategiesImplementation PlanEvaluation and Control
5 Describe the purposes of each marketing-plan component: Executive summaryThe executive summary contains a brief overview of the marketing plan. It focuses only on the most important points of the plan.
6 Describe the purposes of each marketing-plan component: Situation analysisThe situation analysis is an assessment of where the organization currently stands both internally and externally. To develop this assessment, much analysis must be done: an external analysis, a customer analysis, an internal analysis, and a SWOT analysis. The organization’s product(s), target markets, distribution channels, competitors, finances, strengths, weaknesses, opportunities, and threats must all be considered.
7 Describe the purposes of each marketing-plan component: Marketing goals and objectivesThe marketing goals define what the business hopes to accomplish. The marketing objectives, which should be measurable and specific, spell out how to meet those goals.
8 Describe the purposes of each marketing-plan component: Marketing strategies sectionThe marketing strategies component of the marketing plan provides detailed information about the organization’s target markets and planned marketing mix (product, price, place, and promotion).
9 Describe the purposes of each marketing-plan component: Implementation planThe implementation plan explains what the company must do to accomplish its goals and objectives. More specifically, the implementation plan should note the time, personnel, actions, and financial resources needed to reach these company goals and objectives.
10 Describe the purposes of each marketing-plan component: Evaluation and control sectionThe evaluation and control section contains performance standards against which to measure the marketing plan and company performance.