Marketing Plan Sports & Entertainment Marketing

What is the Marketing Plan? A written document that provides direction for the marketing activities for a specific period of time It is a critical planning tool for any business, regardless of industry Defines goals and strategies Serves as the “game plan” Communicates the goals, objectives, and strategies of a company to its employees

Key components of an effective marketing plan: 1.Mission Statement 2.Executive Summary 3.Situation or S.W.O.T. Analysis 4.Marketing Goals / Objectives 5.Market Research / Marketing Strategies 6.Implementation 7.Evaluation and Control

The Mission Statement A written statement that captures an organization’s purpose, customer orientation and business philosophy The majority of marketing strategies are founded on the basis of the mission statement content

S W O T Strengths Weaknesses Opportunities Threats The Situation (S.W.O.T.) Analysis

S Strengths Resources and capabilities that can be used as a basis for developing a competitive advantageStrengths Patents Strong brand names Positive reputation among customers

W Weaknesses Qualities that give a business a competitive disadvantageWeaknesses Lack of patent protection Weak brand name Poor reputation among customers Lack of resources Inadequate distribution channels

O Opportunities Events that could facilitate company profit and growthOpportunities An unfulfilled customer need Arrival of new technologies A niche that has not yet been exploited Mergers Entry into new markets

T Threats Events that could have a negative impact on the companyThreats Shifts in consumer tastes away from company products Emergence of new substitute products Government regulation

Project Time Work Individually See attached document for Project Information