Marketing Plan Expanding the 4 P’s

The four P’s Price Place Promotion Product What can you sell it for? Price as a tool for market penetration Place Where are you selling it? Local, regional, global? What are the levels of customer service? Promotion Who are you selling it to, and how? Structure of sales organization, how are they compensated? Product What are you selling? Product development

Beyond the 4 P’s What are corporate objectives and where does marketing fit these objectives Marketing audit Marketing strategies Sales analysis Market share risk Financial analysis

Marketing Audit Who are the customers? What are their demographics, other characteristics? How much are they willing to spend? How are they different from other groups? What are their expectations? What drives their utility curve Price Features Quality What is your unique selling proposition? Where do you add value?

Marketing Strategies SWOT Analysis Product Stage Branding Market approaches Cost leader Focused cost leader Differentiator Focused differentiator Broad differentiator Are you corporate strengths in line with customer expectations? Disruptive Technologies Trademarks and Patents

Sales Analysis What is the current market size? How is the market segmented? How big is the competition? Benchmarking, who has what competitive advantage. What is their SWOT? Is it easy to duplicate? Market trends How do customers make buying decisions?

Marketing Share Risk How easy is it to gain or lose market share? What scenarios might exist that would push this one way or the other? Play chess with your competition. What is their next best move?

Financial Analysis Inventory requirements Target margin required Working Capital requirements AR, AP terms Tax issues Ratio analysis Cash Flow analysis