1. EMPLOY MARKETING INFO TO DEVELOP A MARKETING PLAN
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EMPLOY MARKETING INFO TO DEVELOP A MARKETING PLAN

2. What is a marketing plan?
A set of procedures or strategies for:
Attracting the target market to a business
Achieving marketing goals

3. Why should my business create a marketing plan?
It is part of the overall business plan.
Demonstrates goals and strategies for the upcoming year
Demonstrate intentions for:
Introducing a new product
Entering a new target market
Trying a new marketing strategy

4. What are the benefits of a marketing plan?
Avoid past mistakes
Better understand your target markets
Goal-setting
Plan marketing strategies
Obtain funding
Provide organizational direction
Track overall progress

5. Components of a marketing plan
Executive Summary
Mission Statement
Situation Analysis
SWOT Analysis (Strengths, Weakness, Opportunities, Threats)
Company questions:
What are the company’s overall goals?
Customer questions:
What are our customers buying?

6. Components of a marketing plan
Executive summary (includes your mission statement)
Like the back of a book jacket---investors read it to see if the rest of your plan is worth reading.

7. Components of a marketing plan
Situation Analysis: SWOT
STRENGTHS
WEAKNESSES
OPPORTUNITIES
THREATS
Your control
NEGATIVE
NOT Your control
Positive

8. Components of a marketing plan
Desired Target Market
What does our target market want and need?
How will our target market use this product?
How much will our target market be willing to pay for this product?
What message do we want our target market to hear from our marketing efforts?
Marketing Objectives
SMART—Specific, Measurable, Achievable, Realistic, and Time-bound.

9. Components of a marketing plan
Company Questions: What are our company’s overall goals?
Customer Questions: What are our customers buying?
Desired Target Market:
What do they want/need?
How will they use the product?
How much are they willing to pay for it?
What message do we want them to hear about our product?

10. Components of a marketing plan
SMART
Marketing Objectives
Specific
Measurable
Achievable
Realistic
Timely

11. Components of a marketing plan
Marketing Strategies & Programs
How will we communicate with our target market?
Financial Plans
How much will it cost us to do the marketing that we need/want?
Performance & Implementation
What are our expected results?
Appendix:
Market Surveys
Product Photographs

12. Business threats A competitor obtains funding for expansion.
Why a threat?
More product available
More efficient operations
Rising inflation rates
Beyond your control. You must adjust your business practices to accommodate.