1. Chapter 2 the marketing plan Section 2.1 Marketing Planning
Market Segmentation

2. Marketing Planning
Section 2.1
CONNECT Suppose you had to market yourself as a student. What are your strengths?

3. Marketing Planning Recall the marketing mix.
Section 2.1
Recall the marketing mix.
Explain the importance of marketing planning .
Describe marketing strategies.

4. Recall the Marketing Mix
Marketing Planning
Section 2.1
Recall the Marketing Mix
Marketers communicate aspects of a
Marketing Mix:
Product
Price
Place
Promotions

5. The Importance of Marketing Planning
Section 2.1
The Importance of Marketing Planning
Marketers plan marketing efforts for a
Variety of reasons:
To reach profit Goals
Satisfy customers
Analyze inefficiencies
Adjust company efforts

6. Marketing Planning Marketing Strategies Marketing Strategies:
Section 2.1
Marketing Strategies
Marketing Strategies:
Introduce a product service
Inform about a product or service
Emphasize Competitive Advantage/Compare to Competitors
Remind about a product or service

7. Marketing Planning Explain the basic elements of a marketing plan.
Section 2.1
Explain the basic elements of a marketing plan.

8. Marketing Planning
Section 2.1
A company looks at itself and the world around it to create a marketing plan for reaching goals.

9. Writing a Marketing Plan
Marketing Planning
Section 2.1
Writing a Marketing Plan
Marketers create a marketing plan to communicate aspects such as:
Analysis and Research
marketing Plan
A formal written document that directs a company’s activities for a specific period of time.
Goals
Objectives
Strategies

10. Elements of a Marketing Plan
Marketing Planning
Section 2.1
Writing a Marketing Plan
Executive Summary
executive summary
A brief overview of the entire marketing plan.
Situation Analysis
Elements of a Marketing Plan
situation analysis
The study of the internal and external factors that affect marketing strategies
Objectives
Marketing Strategies
Implementation
marketing strategies
Strategy that identifies target markets and sets marketing mix choices that focus on those markets
Evaluation and Control

11. The quality of the product
Marketing Planning
Section 2.1
Writing a Marketing Plan
A superior distribution system
The quality of the product
Key Point Differences
A more competitive pricing structure
A more creative ad campaign

12. Writing a Marketing Plan
Marketing Planning
Section 2.1
Writing a Marketing Plan
Implementation
Schedule of activities
Job assignments
sales forecasts
The projection of probable, future sales in units or dollars.
Sales forecasts
Budgets
Details of each activity
Who is responsible for each activity

13. Writing a Marketing Plan
Marketing Planning
Section 2.1
Writing a Marketing Plan
Performance standards help assess
Marketing Objectives
performance standard
An expectation for performance that reflects the plan’s objectives.
Financial Objectives
Marketing Mix Strategies

14. Writing a Marketing Plan
Marketing Planning
Section 2.1
Writing a Marketing Plan

15. Marketing Planning
Section 2.1
Marketing Plan

16. Marketing Planning
Section 2.1
Marketing Plan

17. Marketing Planning Define SWOT Analysis.
Section 2.1
Define SWOT Analysis.
Describe the elements on internal analysis.
Describe the elements of external analysis.

18. SWOT Analysis Marketing Planning SWOT Analysis
Section 2.1
SWOT Analysis
prepares a company for competition or a changing marketplace
SWOT
Analysis
provides guidance and direction for future marketing strategies
SWOT analysis
An assessment of a company’s strengths and weaknesses and the opportunities and threats that surround it; SWOT: strengths, weaknesses, opportunities, threats.

19. Marketing Planning
Section 2.1
SWOT Analysis

20. C C C ompany ustomers ompetition Marketing Planning
Section 2.1
Internal Strengths and Weaknesses
The three C’s of internal analysis C
ompany
Strengths and weaknesses are internal factors that affect a business’s operation. C
ustomers C
ompetition

21. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses
Company Staff
Company Analysis
Production Capabilities
Financial Situation

22. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses

23. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses

24. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses

25. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses

26. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses .

27. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses .

28. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses

29. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses .

30. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses
Who are the customers?
How do groups of customers differ from one another?
What do customer surveys and customer interviews reveal?
What, when, where, and how much do they buy?
How do customers rate the company on quality, service, and value?
Is your customer base increasing or decreasing? Why?

31. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses
What is the company’s market share?
Questions that help a company analyze its internal competitive position:
What advantages does the company have over its competitors?
What core competencies does the company possess?
Are competitors taking business away? Why?

32. Internal Strengths and Weaknesses
Marketing Planning
Section 2.1
Internal Strengths and Weaknesses

33. Four Factors of a PEST Analysis
Marketing Planning
Section 2.1
External Opportunities and Threats
Political
Economic
Four Factors of a PEST Analysis
Socio-Cultural
Technological
PEST analysis
Scanning of outside influences on an organization.

34. Socio-Cultural Factors
Marketing Planning
Section 2.1
PEST Analysis
Political Issues
Government affects business operations
Recession
Unemployment
Currency Rates
Import Pricing
Trade Restrictions
Economic Issues
Socio-Cultural Factors
Changes in attitudes, lifestyles, and opinions provide opportunities and threats
Technology
Companies must embrace technology and innovate to stay competitive

35. Marketing Planning
Section 2.1
PEST Analysis
Economic Factors

36. Marketing Planning
Section 2.1
PEST Analysis
Economic Factors

37. Marketing Planning
Section 2.1
Section 2.1 1.
Explain the four aspects of a SWOT analysis and tell how it fits into a marketing plan.
Four aspects of a SWOT analysis:
internal strengths
weaknesses
external opportunities
threats
The results of a SWOT analysis are reported in the situational analysis of a marketing plan.

38. Marketing Planning
Section 2.1
Section 2.1 2.
List the four areas that are investigated in PEST analysis and explain why the knowledge gained can be valuable to a company.
External threats and opportunities include
competition
environmental scan of political issues
economic factors
socio-cultural factors
technological changes
An accurate analysis of those factors helps a company prepare for threats such as competition or a changing marketplace.

39. Marketing Planning
Section 2.1
Section 2.1 3.
Describe how the marketing mix relates to the implementation of a marketing plan.
The marketing process keeps going through three phases:
planning
implementation
control
The marketing audit at the end of the process evaluates a company’s marketing objectives, strategies, budgets, organization, and performance. It identifies problem areas in marketing operations.
A marketing audit is done on a formal basis once a year and on an informal basis continuously.

40. Chapter 2 the marketing plan Section 2.1 Marketing Planning
End of
Chapter 2
the marketing plan
Section 2.1
Marketing Planning
Section 2.2
Market Segmentation