1. Andrew Benesh Austin Richardson Ben Potter Jason Klein Krishna Vuppala
Marketing Plans
Andrew Benesh
Austin Richardson
Ben Potter
Jason Klein
Krishna Vuppala

2. Agenda
Introduction to Marketing plan Marketing plan structure Situation analysis SWOT Marketing strategy Implementation and Control Conclusion
Marketing Plans | November 2014

3. action-oriented document
Marketing Plan
What is a Marketing plan?
action-oriented document
set objectives for the marketing and promotion of business
needs to be followed, monitored and updated
regularly evaluate and control a marketing plan
 marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives.
Marketing plan objectives are typically on the level of sales, profit, return on investment or, for larger businesses, market share
A marketing plan is not something that you write and then forget. It needs to be followed, monitored and updated.
regularly evaluate a marketing plan to make sure you are reaching the goals you set.
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4. A Perfect Marketing plan
sensible and relevant
accurate and realistic targets
customize to suit business and its objectives
keep business prepared for unexpected events or promotions by competition
spot possible threats to business, and prepare for ways to minimize or capitalize on them
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5. Fulfills Five Purposes
Present and future situations of the organization
Specifies expected outcomes (goals and objectives)
Describes the specific actions that are to take place
Assigns responsibility for each action
Identifies the resources needed to carry out the planned actions
Permits the monitoring of each action and its results so that controls may be implemented
Marketing Plans
A marketing plan is a report which describes how a given property (be it a brand, a product, or a service) is to be marketed. It covers all aspects of marketing for this object, including (but not limited to) advertising, promotions, and sales.
Marketing plans are meant to provide marketing goals as well a framework in which they can be achieved. Because of this, they should contain not only a marketing strategy, but the context for that strategy.  There are a variety of reasons why one would undertake the writing of a marketing plan.
Although any sort of property can be marketed, marketing plans do vary depending on what industry is being targeted and what, in particular, is being marketed.
Think of the marketing plan as the handbook for marketing implementation, evaluation, and control.
Fulfills five purposes:
explains both the present and future situations of the organization
specifies expected outcomes (goals and objectives
describes the specific actions that are to take place and assigns responsibility for each action
identifies the resources needed to carry out the planned actions
permits the monitoring of each action and its results so that controls may be implemented
Crystallizes and propels mission, vision
Coordinates branding/messaging
Educates, increases visibility
A framework for decisions
Benchmark performance, justify budget
Strategy for funding
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6. Marketing plan – Key Areas
Price
Place
Product
Promotion
SWOT
Time
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7. Business without a Marketing Plan
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8. Organizational Aspects of the Marketing Plan
Top managers ask two questions:
Will the marketing plan achieve the desired marketing, business unit, and corporate goals and objectives?
Are there alternative uses of resources that would better meet the firm’s objectives?
Marketing plan proposals.
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9. Marketing Plan Structure
Executive summary Situation analysis SWOT Marketing goals and objectives Marketing strategy Implementation Evaluation and control
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10. Marketing Plan - Examples
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11. Situation Analysis
Internal environment External environment Customer environment
Situational Analysis
SWOT
Goals / Objectives
Strategy
Implementation
Control
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12. Situation Analysis - Internal
Define mission statement Know your brand and products Differentiate your product or service Focus on pleasing the customer Past – Present – Future
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13. Situation Analysis - External
Know the competition
Why are they good?
Why are they bad?
What can we learn?
Monitor factors from outside
Changes in the market
PEST
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14. Situation Analysis - Customer
Identify your target Know your current customers Identify potential new customers Who, what, when, where, why, and why?
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15. INTERNAL EXTERNAL What is SWOT Situational Analysis SWOT Strategy
Strengths
Weaknesses
Opportunities
Threats
INTERNAL
EXTERNAL
Situational Analysis
SWOT
Goals / Objectives
Strategy
Implementation
Control
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16. What to gain from SWOT
Circuit City: Circuit City became complacent — a fatal mistake in the fiercely competitive and fast-evolving retail-electronics industry. The problems began a decade ago, when Circuit City failed to secure prime real estate — its out-of-the-way locations were often just inconvenient enough to tempt customers to head to other retailers, like Wal-Mart. Then Circuit City stopped selling appliances. It didn't move as aggressively into gaming as it should have. And it missed out on big in-store promotions with thriving companies like Apple Computer. That created an opening for Best Buy, now the top electronics chain in the U.S., to surge ahead. Finally, the cherry on top: Circuit City neglected to improve its Web presence, just as online retailers like Amazon.com were hitting their stride.
Borders: For years, Borders outsourced its online book-selling to Amazon.com. So anytime you visited borders.com, you were redirected. While at the time it may have seemed like a smart decision to jump on the coattails of the Amazon juggernaut, relinquishing control to another company hurt Borders’ branding strategies and cut into its customer base.
Blockbuster: But that’s what could have happened multiple times throughout the early 2000s when Netflix CEO and co-founder Reed Hastings courted a deal with Blockbuster-chief John Antioco to purchase the then DVD-by-mail rental company for $50 million (the company now has a market cap of $19.7 billion).
Best Buy
Amazon
Netflix
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17. DILBERT!
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18. Marketing Strategy
Value Proposition Critical Issues Financial Objectives Marketing Objectives Target Market Strategy Messages & Branding
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19. Emphasis on REAL benefit offered
Value Proposition
“Benefit offered less price charged”
Emphasis on REAL benefit offered
INSTEAD of the specific tangible product or service
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20. Bring in the SWOT Analysis
Critical Issues
Bring in the SWOT Analysis
ORGANIZATIONAL GOALS:
1. Leverage the “Strengths” of the organization
2. Offset or improve “Weaknesses
3. Take advantage of available “Opportunities”
4. Minimize the risk of potential “Threats”
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21. Financial objectives are easy to measure
EXAMPLES:
1. Increase profits by 25%
2. Increase sales by 5%
3. Increase the Contribution Margin by 10%
4. Improve gross margin by 15%
Important to ensure all objectives are measurable
“If it can’t be measured, it can’t be improved”
Situational Analysis
SWOT
Goals / Objectives
Strategy
Implementation
Control
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22. When setting marketing objectives, keep in mind: Sales Market share
Market positioning
Company image
Consumer awareness
Marketing objectives need to be measurable as well so that they can be tracked and followed up on
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23. Target Market Strategy
Explain why your business is focusing on the target market groups you have chosen.
ANSWER these questions:
What makes these groups more interesting than the other groups that you have ruled out?
Why are the characteristics you specify important?
Example: A graphic design firm might target small or medium-sized businesses that need Internet websites
Situational Analysis
SWOT
Goals / Objectives
Strategy
Implementation
Control
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24. Messages & Branding Business needs to answer the following questions:
What symbols are going to represent the brand?
How does the brand reflect the positioning of your products or services?
What is the brand’s promise to your customers?
What traits does the brand convey to your customers?
If advertising and marketing the brand, how will you measure the brand’s effectiveness?
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25. Messages & Branding IMPORTANT: Brands are NOT created overnight
Takes careful management to build positive relationship with customers
Rewards for building a brand are higher profit margins, competitive security and brand extension efficiencies
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26. National Football League
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27. NFL: Building a Brand
Founded in Teams 2014 poll revealed NFL as #1 spectator sport (35%) in US followed by MLB (14%) TV Partners: CBS, FOX, NBC, ESPN, NFL Network Year-round exposure Hosts 3 NFL games per year in London
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28. Implementation
As the strategy is developed, a concept for how to implement it should be formed Communication is often the biggest obstacle to implementing an effective marketing plan – internal culture must support the marketing plan What will be done? How? When? By Who? At what cost?
Situational Analysis
SWOT
Goals / Objectives
Strategy
Implementation
Control
In the marketing plan, strategy is the what and implementation is the how. The how should be developed in parallel to the what.
If the internal culture does not support communication and alignment, it will be very difficult to make progress on the implementation.
A defined implementation includes what will be done, how, when, by who, and at what projected cost.
(22s)
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29. Control
Once the plan has been implemented, it should be updated based on some control/feedback mechanisms
Control in the context of a marketing plan is the monitoring and guidance of implementation progress… and feedback for future plans
Formal
Informal
Financial
Implementation
Feedback System
Goal
Control Adjustment
Outcome
Measurement + -
Situational Analysis
SWOT
Goals / Objectives
Strategy
Implementation
Control
When implementing a strategy, controls should be used to adjust the implementation to better drive towards goals and objectives. A comparison of the projected and desired outcomes is used to determine an appropriate adjustment.
Control also generates information that can be used to create stronger plans in the future.
(16s)
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30. We are a feedback and control system…
We usually hear about the air conditioning example for controls.
This one is a little different because the person is the feedback and control mechanism instead of a thermostat. A driver determines the desired position and makes an adjustment to the steering wheel…the resulting location is compared to the desired location before making the next adjustment. Here, crosswind is a disturbance to the system.
(22s)
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31. Comedic Relief
Here are a couple marketing Dilbert's. I think these describe what many people think about marketing – the stereotype for marketing is perpetuated when professional marketers don’t apply the concepts we are being taught in this course.(10s)
Someone tell me when they have read the comic strips. (21s)
(22s)
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32. Conclusion
Marketing Plan: Action-oriented document setting objectives for marketing and promotion of the business (based on known customer needs and wants) Situational Analysis: Who are you? Who is your customer? Who is your competition? SWOT: Don’t make the mistake of neglecting SWOT Strategy: Create value, address roadblocks, have a target Implementation Strategy:What::Implementation:How Control: Guide implementation and learn for the future
Situational Analysis
SWOT
Goals / Objectives
Strategy
Implementation
Control
To summarize our presentation…
(50s)
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33. Questions
Are there any questions?
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