cpas review 2013-2014 marketing chapter 2—the marketing plan
TRANSCRIPT
CPAS REVIEW2013-2014
MARKETING
CHAPTER 2—THE MARKETING PLAN
Section 2.1Marketing Planning
Chapter 2
the marketing plan
Section 2.2Market Segmentation
• SWOT analysis
• PEST analysis
• marketing plan
• executive summary
• situation analysis
• marketing strategy
• sales forecasts
• performance standard
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.1
Marketing Planning
Marketing PlanningSecti
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.1Marketing Plan
Marketing PlanningSecti
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.1Marketing Plan
Marketing Planning
SWOT analysis
An assessment of a company’s strengths and weaknesses and the opportunities and threats that surround it; SWOT: strengths, weaknesses, opportunities, threats.
SWOT Analysis
prepares a company for competition or a changing marketplace
provides guidance and direction for future marketing strategies
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SWOT Analysis
Marketing Planning
SWOT analysis
SWOT Analysis
prepares a company for competition or a changing marketplace
provides guidance and direction for future marketing strategies
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SWOT Analysis
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SWOT Analysis
Marketing Planning
The three C’s of internal analysis
C
CC
ompany
ustomers
ompetition
Strengths and weaknessesare internal factors that affecta business’s operation.
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Internal Strengths and Weaknesses
Marketing Planning
The three C’s of internal analysis
C
CC
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Internal Strengths and Weaknesses
Marketing Planning
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Marketing PlanningInternal Strengths and Weaknesses
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Marketing PlanningInternal Strengths and Weaknesses
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Marketing PlanningInternal Strengths and Weaknesses
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Marketing PlanningInternal Strengths and Weaknesses
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Marketing PlanningInternal Strengths and Weaknesses
.
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Marketing PlanningInternal Strengths and Weaknesses
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Marketing PlanningInternal Strengths and Weaknesses
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Marketing PlanningInternal Strengths and Weaknesses
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Four Factors of a
PEST Analysis
Political
Economic
Socio-Cultural
TechnologicalPEST analysis
Scanning of outside influences on an organization.
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PEST Analysis
Marketing Planning
Four Factors of a
PEST Analysis
Political
Economic
Socio-Cultural
TechnologicalPEST analysis
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PEST Analysis
Marketing Planning
PoliticalIssues
Government affects business operations
EconomicIssues
Socio-Cultural Factors
Technology
• Recession• Unemployment• Currency Rates
• Import Pricing• Trade Restrictions
Changes in attitudes, lifestyles, and opinions provide opportunities and threats
Companies must embrace technology and innovate to stay competitive
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PEST Analysis
Marketing Planning
PoliticalIssues
EconomicIssues
Socio-Cultural Factors
Technology
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PEST Analysis
Marketing Planning
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PEST Analysis
Marketing Planning
Economic Factors
Elements of a
Marketing Plan
ExecutiveSummary
SituationAnalysis
Objectives
MarketingStrategies
Implementation
Evaluation and Control
executive summary
A brief overview of the entire marketing plan.
situation analysis
The study of the internal and external factors that affect marketing strategies
marketing strategies
Strategy that identifies target markets and sets marketing mix choices that focus on those markets
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Writing a Marketing Plan
Marketing Planning
Elements of a
Marketing Plan
ExecutiveSummary
SituationAnalysis
Objectives
MarketingStrategies
Implementation
Evaluation and Control
executive summary
situation analysis
marketing strategies
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Writing a Marketing Plan
Marketing Planning
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Writing a Marketing Plan
Marketing Planning
Marketing Plan Objectives
Marketing PlanningSecti
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Writing a Marketing Plan
Market SegmentationSecti
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The key to marketing is to know your customer or target market. Market segmentation helps identify the target market.
Market SegmentationSecti
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The key to marketing is
Market segmentation helps
Market SegmentationSecti
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.2• market segmentation
• demographics
• disposable income
• discretionary income
• geographics
• psychographics
• mass marketing
Market SegmentationSecti
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Market SegmentationSecti
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Types of Segmentation
Demographic Geographic Psychographic Behavioral
Age
Gender
Income
Marital status
Ethnic background
Local
State
Regional
National
Global
Attitudes
Opinions
Interests
Activities
Personality
Values
Shopping Patterns
Decision-making process
demographic
Statistics that describe a population in terms of personal characteristics such as age, gender, income, marital status, and ethnic background.
psychographic
Grouping people with similar attitudes, interests, and opinions, as well as lifestyles and shared values.
Market SegmentationSecti
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Types of Segmentation
Demographic Geographic Psychographic Behavioral
demographic
.
psychographic
.
Market SegmentationSecti
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Types of Segmentation
Labels Used to Segment by Generation
Baby Boom Generation Generation X Generation Y
Market SegmentationSecti
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Types of Segmentation
Labels Used to Segment by Generation
Baby Boom Generation Generation X Generation Y
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Types of Segmentation
Income
DisposableIncome
DiscretionaryIncome
disposable Income
Money left after taking out taxes.
discretionary income
Money left after paying for basic living necessities such as food, shelter, and clothing.
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Types of Segmentation
Income
DisposableIncome
DiscretionaryIncome
disposable Income discretionary income
Market SegmentationTypes of Segmentation
80 percent of a company’s sales...
are generated by 20 percent of its loyal customers
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Market SegmentationTypes of Segmentation
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Market SegmentationMass Marketing Vs. Segmentation
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.2Mass Marketing
Advantages Disadvantage
mass marketing
Using a single marketing strategy to reach all customers.
• Economics of scale• Simplified marketing plan
• Competitors can identifyunmet needs and wantsand then steal customers
Market SegmentationMass Marketing Vs. Segmentation
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.2Mass Marketing
Advantages Disadvantage
mass marketing
Using a single marketing strategy to reach all customers.
Market SegmentationMass Marketing Vs. Segmentation
Secti
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.2Niche Marketing
Advantages Disadvantage
• Extremely precise• Increased chance for
success
• Cost– Research– Production– Packaging– Advertising
Market SegmentationMass Marketing Vs. Segmentation
Secti
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.2Niche Marketing
Advantages Disadvantage