Download - Handouts | Marketing Plan
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THE MARKETING PLAN
o A detailed document outlining and organizing every move, every action plan, every decision point that is meant to be implemented or applied for/by a brand/product/service to achieve specific goals.
o Annual Marketing Plans, Quarterly Marketing Plans
o It’s the one document that guides an entire department’s yearly or quarterly accomplishments.
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The thing with marketing plans…
o There is no cookie-cutter way of doing marketing plans.
o The way information is presented in a marketing plan may vary according to: n the business issue/s that need to be addressed n the research results you have gathered n the strategies and action plans you are proposing
o No matter how much information or how less, a marketing plan becomes useless if it cannot clearly direct you and the brand. (inconsistent messages, confusing objectives, unrealistic action plans, empty strategies, too much unnecessary information)
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The thing with marketing plans…
o Sometimes, with too much information in your hands – you’ll have the tendency to lose focus on the problem that you need to be solving. n So, for every strategic decision – ask “How does this contribute to
solving the business issue or the marketing issue?”
o Since marketing plans present a real responsibility to the brand, the ideas that comprise the plan must basically be: n Actionable – It can be done. n Substantial – It can will contribute greatly. n Accessible – It can be received by the target consumers. n Measurable – It can be known if it was effective.
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The contents of a Marketing Plan:
I EXECUTIVE SUMMARY - A one-page dossier highlighting the situation, the objective, major strategic points and action plans for the brand.
- If your boss had 2 minutes to spare, he can read this section and more or less, know the direction you’re taking.
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The contents of a Marketing Plan:
II CURRENT MARKETING SITUATION - This is the section where you give the big picture objectively. A. Market Description - Describing the dynamics of the industry or category where your brand is a player. - Describing the dynamics of the competitors that your brand is playing against or with. - Describing general consumer behavior when it comes to this industry/category/ brand.
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The contents of a Marketing Plan:
II CURRENT MARKETING SITUATION - This is the section where you give the big picture objectively. B. Product/Brand Review - About product’s/brand’s performance from their POV – sales, pricing, revenue, market share, brand positioning, communication efforts, etc - About product/brand’s equity from POV of the consumer à ENTER RESULTS OF YOUR CONSUMER RESEARCH.
C. Review of Competition - Identifying direct and indirect Competition; assessing their market position and strategies - Knowing their performances as well.
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The contents of a Marketing Plan:
II CURRENT MARKETING SITUATION - This is the section where you give the big picture objectively. D. Review of Distribution - Evaluates recent sales trends and other developments in major distribution channels.
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The contents of a Marketing Plan:
III SITUATION ANALYSIS - After knowing what you know about the brand and all the factors affecting it – this is where you focus on what’s important to know about the brand.
A. Strengths B. Weaknesses
C. Opportunities D. Threats
Intrinsic qualities of the brand, perceptions made FROM / OF the brand; internal to the brand
External factors that affect the brand, therefore must be responded to by the brand
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The contents of a Marketing Plan:
III THE BUSINESS ISSUE - The business concern/situation that you need to address.
IV THE MARKETING OBJECTIVE
- The mission of the marketing; after a year of efforts, what will the marketing aim to achieve?
WAIT! - Make sure that the business issue can be solved by marketing.
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The contents of a Marketing Plan:
V KEY STRATEGY DECISIONS - This is where you lay-out your ideas and plan of attack. - This is where you present what is, and then what should be done.
A. Target Consumers - If you are proposing a new segment, or a new way of communicating to your segment – describe your consumer through research findings about them. - Demographics, Psychographics
- Put a face to your consumer. à Remember your first paper?
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The contents of a Marketing Plan:
V KEY STRATEGY DECISIONS - This is where you lay-out your ideas and plan of attack. - This is where you present what is, and then what should be done.
B. Product - Compelling consumer benefit - Competitive Product Advantage - Reason-to-believe - Product Positioning - Product Image and Personality
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The contents of a Marketing Plan:
V KEY STRATEGY DECISIONS - This is where you lay-out your ideas and plan of attack. - This is where you present what is, and then what should be done.
C. Pricing - What do you intend to do about pricing? - What are the logistical explanations for your recommendations?
D. Place / Distribution - What do you propose to do for the distribution of your product/service? - Why do you think your recommendations will work?
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The contents of a Marketing Plan:
VI THE MARKETING COMMUNICATIONS PLAN - Since action plans need to be detailed (mechanics, descriptors, etc), let’s put that in a separate section. - This is where you outline the ways, methods, and tools you will need to communicate to your target consumers what you have recommended the brand to be.
A. Action Plan 1 (Ex. Print Advertising) - Present the objective of this action plan. (From the last session, remember?) - Your explanation for this decision; why do this at all? - Specific mechanics that describe the implementation of this recommended action plan.
- What’s the creative approach for this action plan?
After all your suggestions…
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The contents of a Marketing Plan:
VI THE MARKETING COMMUNICATIONS PLAN - Since action plans need to be detailed (mechanics, descriptors, etc), let’s put that in a separate section. - This is where you outline the ways, methods, and tools you will need to communicate to your target consumers what you have recommended the brand to be.
B. Timetable - Map out in an the entire year the duration (beginning and end) of your recommended marketing efforts.
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The contents of a Marketing Plan:
VII BUDGET RECOMMENDATIONS - This is where you itemize the expenses needed for your marketing efforts to be implemented. - The company must be able to see exactly how much will they have to shell out for your marketing programs. - If the objective for each program is clear, the marketing action plan is good, then the company will feel that is worth-spending for. - Here you can present forecasts on revenue for the company, based on your findings.
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The contents of a Marketing Plan:
VIII EVALUATION & CONTROL MEASURES - In this section – you will propose the ways you can measure the progress and effect of all the programs you will be suggesting. - That way – if some programs don’t measure up to their expected turn-out, the company can right away decide to change strategies.
IX APPENDICES