THE MARKETING PLAN Lindell Phillip ChewLPC1@umsl.edu

DEVELOPING YOUR MARKETING PLAN FOR YOUR RESPONSIBILITY AREA

MY MARKETING PLANOPPORTUNITYISNOWHERE!!!!!!!!!!!!

DEVELOPING YOUR MARKETING PLAN

Planning a question and answer process. The market plan asks and answers the question"HOW DO WE GET THERE FROM HERE?" (Just like planning a family trip/vacation.)REMEMBER HOW A AAA TRIP TIX WORKS FOR YOU ON A VACATION.!!!!!

WHERE are we new?WHEN are we leaving? WHERE should we go?WHO will do the driving WHERE have we decided to go?WHYare we going? WHAT are the conditions which may affect us?HOW are we going? HOW much will the trip cost?HOW will we meet our progress WHAT is our plan for alternate routes?against our schedule? (contingency plan)

THE TRIPWHERE are we new?WHEN are we leaving? WHERE should we go?WHO will do the drivingWHERE have we decided to go?WHYare we going?WHAT are the conditions which may affect us?HOW are we going?HOW much will the trip cost?HOW will we meet our progressWHAT is our plan for alternate routes?against our schedule? (contingency plan)

An OPERATIONAL (ONE YEAR) MARKETING PLAN.. identifies strategies and responsibilities for implementing action programs to achieve desired results. (FISCAL YEAR,CALENDAR YEAR, NEXT 12 MONTHS)

LENGTH MARKETING PLANS MAY ALSO BE INTERMEDIATE (1-5 YEARS) AND LONG RANGE (STRATEGIC - EXTENDED BEYOND FIVE YEARS)

LETS BE PRACTICALAIM - Establishing Objectives then Accomplishing Them. ORGANIZATION . 1. Prepare marketing plan in a loose leaf notebook form. 2. Number all pages. 3. Give date(s): when prepared, time period covered. 4. Identify author(s). 5.Type double spaced with wide margins. 6. Index: Use headings and subheadings liberally and divide with tabs.

Plan should be comprehensive but not complicated.

CONTENTS1. Plan should be COMPREHENSIVE but NOT complicated.2. Persons not involved in the authorship SHOULD be able to follow the planning logic and readily ascertain their responsibilities.

There are SIX steps in developing an operational marketing plan.

WELCOME ABOARD

Six steps in developing an operational marketing plan.

There are six steps in developing an operational marketing plan.

1. PREPARE COMPREHENSIVE FACT BASE2. LIST PROBLEMS AND OPPORTUNITIES3. STATE SPECIFIC OBJECTIVES (FIRST STATE YOUR ASSUMPTIONS)4. DEVELOP STRATEGY5. ESTABLISH BUDGET6. PROJECT SALES AND PROFIT

YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!

Detailing the six steps1. PREPARE COMPREHENSIVE FACT BASE

FACTBASE

*1ST.... GENERAL BUSINESS PURPOSE

WE ARE IN THE BUSINESS TO CREATE AND SERVICE OUR CLIENTSWETHIS PLAN COVERS.

1.PREPARE COMPREHENSIVE FACT BASE

*1ST.... GENERAL BUSINESS PURPOSE SALES MARKETS TRENDS PRODUCTS, SERVICES COMPETITION DELIVERY INVENTORY DISTRIBUTION, SALES FORCE CUSTOMER AITITUDES CUSTOMER COMMUNICATIONS

1.PREPARE COMPREHENSIVE FACT BASE

SALES and PROFITS12 MONTHS RUNNING3-5 YEARS

1.PREPARE COMPREHENSIVE FACT BASE

MARKETS TRENDS PRODUCTS, SERVICES

1.PREPARE COMPREHENSIVE FACT BASE

COMPETITION The competitive landscapeProvide an overview of product competitors, their strengths and weaknessesPosition each competitors product against new product

1.PREPARE COMPREHENSIVE FACT BASE

DELIVERY INVENTORY DISTRIBUTION, SALES FORCE CUSTOMER ATTITUDES CUSTOMER COMMUNICATIONS

2. LIST PROBLEMS AND OPPORTUNITIES+++++++++++ ---------------------

2. LIST PROBLEMS AND OPPORTUNITIES

IDENTIFY PROBLEMS .HURDLES

DEVIATIONS FROM ANTICIPATED DETERENTS TO THE SMOOTH OBSTACLES TO GOALS

IDENTIFY PROBLEMS

DEVIATIONS FROM ANTICIPATEDDETERENTS TO THE SMOOTHOBSTACLES TO GOALS

PROBLEMS PROBLEM VS SYMPTOM INDUSTRY & COMPANY*SOLVABLE SOLVING PROBLEMS NO CONTROL

ANALYZE 2. LIST PROBLEMS AND OPPORTUNITIES (CONT.)

OPPORTUNITIES - EXPLOITABLES

WHAT IS ...... WHERE TO LOOK

3. STATE SPECIFIC OBJECTIVES

3. STATE SPECIFICS OBJECTIVES \

FIRST.STATE YOUR ASSUMPTIONS

3. STATE SPECIFIC OBJECTIVES

FORMULATE OBJECTIVES

* SPECIFIC* QUANTIFY

Success MetricsFirst year goalsAdditional year goalsMeasures of success/failureRequirements for success

4. DEVELOP STRATEGY

SPECIFIC ACTIVITIESYOUR CALL TO ACTION

RESPONSIBITY ASSIGNMENTSDEADLINESPRIORITIESRESOURCES

ELEMENTS1. MARKET TARGETS 2. THE MARKETING MIX(THE 5 PS)

PRICE PRODUCTPLACEPROMOTIONPOLITICS

ELEMENTS

1. MARKET TARGETS

THE MARKETING MIX(THE 5 PS)

PRICE PRODUCTPLACEPROMOTIONPOLITICS

Product PositioningPositioning of product or serviceStatement that distinctly defines the product in its market and against its competition over timeConsumer promiseStatement summarizing the benefit of the product or service to the consumer

Product Packaging & FulfillmentProduct packagingDiscuss form-factor, pricing, look, strategyDiscuss fulfillment issues for items not shipped directly with productCOGs Summarize Cost of Goods and high-level Bill of Materials

Promotional (Communication) StrategiesMessaging by audienceTarget consumer demographics

Product Launch StrategiesLaunch planIf product is being announcedPromotion budgetSupply back up material with detailed budget information for reviewPHASES 1, 2, 3,4

Public RelationsStrategy & executionPR strategiesPR plan highlightsHave backup PR plan including editorial calendars, speaking engagements, conference schedules, etc.

AdvertisingStrategy & executionOverview of strategyOverview of media & timingOverview of ad spending

Other PromotionDirect marketingOverview of strategy, vehicles & timingOverview of response targets, goals & budgetThird-party marketingCo-marketing arrangements with other companiesMarketing programsOther promotional programs

PricingPricingSummarize specific pricing or pricing strategiesCompare to similar productsPoliciesSummarize policy relevant to understanding key pricing issues

Place-DistributionDistribution strategyChannels of distributionSummarize channels of distributionDistribution by channelShow plan of what percent share of distribution will be contributed by each channel -- a pie chart might be helpful

Vertical Markets/SegmentsVertical market opportunitiesDiscuss specific market segment opportunitiesAddress distribution strategies for those markets or segmentsAddress use of third-party partner role in distribution to vertical markets

InternationalInternational distributionAddress distribution strategiesDiscuss issues specific to international distributionInternational pricing strategyLocalization issuesHighlight requirements for local product variations

Product Schedule12-month schedule highlightsTimingIsolate timing dependencies critical to success

STRATEGY ANALYSIS AND EVALUATION1. INTERNAL COMPATIBILITY2. EXTERNAL COMPATIBILITY3. RESOURCE AVAILABILITY4. RISK FACTOR

MOVING AHEAD .

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

$$$$$$$YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!

STRATEGY (CONT)

THREE MUSTS

* MEET DEADLINES* CONTROL PERFORMANCE*ALLOCATE RESOURCES

STRATEGY MUST CALL FOR IMMEDIATE ACTION. OTHERWISE IT IS ONLY A STATEMENT OF INTENT.

*DEVELOP ALTERNATIVE STRATEGIES FUNCTIONAL INTERDEPENDENCE

5. ESTABLISH BUDGET

BUDGET FOLLOWS STRATEGY

$$$$$$$$$$$$,RESOURCES & TIME!!!!!!!!

BUDGET FOLLOWS STRATEGY MARKETING COSTS order getting, filing ESTABLISH mechanical, task & objective,cooperative

BUDGET (CONT) DECISIONS,,, MONEY$$$$$$$$$??????? ORGANIZE by MARKETING FUNCTION VERSATILITY and CONTROL EXERCISING CONTROL IS MANAGING

6. PROJECT SALES AND PROFITFORECASTCONTROL UNITSmajor and sub control units

IMPLEMENT IMMEDIATELYREVIEW YOUR MARKETING PLAN AT LEAST MONTHLY!!!! $$$$$$$$$$$$$$$

OPPORTUNITYISNOWHERE!!!!!!!!!!!!!!!!

GO FOR IT

THIS CONCLUDES MY PRESENTATION

THE MARKETING PLAN Lindell Phillip ChewLPC1@umsl.edu

YOU FIRST AIM AT ESTABLISHING YOUR OBJECTIVES AND THEN AT ACCOMPLISHING THEM!!!!

Planning a question and answer process. The market plan asks and answers the question"HOW DO WE GET THERE FROM BERE?" (Just like planning a family trip/vacation.)REMEMBER HOW A AAA TRIP TIX WORKS FOR YOU ON A VACATION.!!!!!