Chapter Fourteen Building a Marketing Plan
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-2 Building a Marketing Plan Creativity vs. Structure Benefits of building a market plan Process of building a marketing plan
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-3 Creativity vs. Structure Figure 14-2 Building a Market Plan — Creative vs. Structure
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-4 Benefits of Building a Plan Identifying opportunities Leveraging core capabilities Focused market strategy Resource allocation Performance roadmap
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-5 The Process of Building a Marketing Plan Step 1: Situation Analysis Step 2: SWOT Analysis Step 3: Strategic Market Plan Step 4: Marketing Mix Strategy Step 5: Marketing Budget Step 6: Profit Plan Step 7: Perform Review Adjust Marketing Plan as Necessary
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-6 Step 1: Situation Analysis Figure 14-5 Components of Current Situation
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-7 Step 2: Swot Analysis InternalExternal Strengths Weaknesses Opportunities Threats Situation Analysis Key Performance Issues
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-8 Step 3: Strategic Market Plan Figure 14-9 Components of a Market Strategy
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-9 Step 4: Marketing Mix Strategy Marketing Mix Elements –Price –Promotion –Place –Product Strategy and Key Performance Issues –Positioning strategy –Value proposition –Channel strategy –Performance objectives
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-10 Step 5: Marketing Budget What is the purpose of the Marketing Budget? Three ways to build a Marketing Budget 1. Top-down 2. Customer mix 3. Bottom-up
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-11 Step 6: Profit Plan Break-even analysis Performance scorecard Income statement
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-12 Step 7: Performance Review What is Performance Review? Why is Performance Review important? What if the plan is not meeting performance objectives?
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-13 Review Creativity vs. Structure Benefits of building a market plan Process of building a marketing plan
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall14-14 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2009 Pearson Education, Inc. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall