Description
Discussion Question 8
What is the purpose of the marketing plan, and how might it be used in managing the activities of the organization?
What should be included within the marketing plan?
Who is typically responsible for developing the marketing plan?
- Which departments within the organization should have access to the marketing plan?
Peer 1
1. A marketing plan lays out a company’s route to effective marketing. It is always in the best interest of an organization to have a plan for the direction they intend to lead their organization. If they just “wing it” and do not have goals that are written down
2. This includes budgeting, techniques, and organization to carry out each marketing operation.
3. Marketing plans are usually developed within the marketing?department?of an organization, generally overseen by the CMO.
4. Departments involved should be the marketing?department, as well as the financial?department. The marketing?department?needs to know where they are headed and what their goals are that they need to achieve. The financial?department?will need to know because any marketing plan is going to cost money. Therefore, they need to know what the cost of their plan is going to be.
Peer 2
What is the purpose of the marketing plan, and how might it be used in managing the activities of the organization?
This is the plan a business will use to implement and sell its products or services. Its a document checklist of actions the company will pursue to achieve success.
What should be included within the marketing plan?
Each marketing plan can vary. They may include market research, target audience, current position, competitive analysis,?budget, metrics, timing, etc.
Who is typically responsible for developing the marketing plan?
A product manager, brand manager or chief marketing officer may create a marketing plan. A marketing?department?may create and execute the marketing plan.
Which departments within the organization should have access to the marketing plan?
Many departments can interact with the marketing?department?and may need to know certain parts of the strategy. Each?department?will have a different role depending on what is needed of them.
?Marketing Plans?
MGT/206 ? Business
Management Capstone
Dr. Tim Glaid
October 6, 2015
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Performance Objectives
After this lecture, you should be able to complete the following Performance Objectives
1. KNOW WHAT A MARKETING PLAN IS AND HOW TO DESCRIBE IT.
2. UNDERSTAND THE COMPONENTS OF A MARKETING PLAN.
3. BE ABLE TO DEMONSTRATE PROPER DEVELOPMENT AND FORMATTING
OF A MARKETING PLAN.
Market Summary
? Market: Past, present, and future
? Review changes in market share, leadership,
players, market shifts, costs, pricing, and
competition
Product Definition
? Describe the product or service being
marketed
Competition
? The competitive landscape
? Provide an overview of product competitors, and
their strengths and weaknesses
? Position each competitor?s product against the
new product
Positioning
? Positioning of product or service
? Statement that distinctly defines the product in its
market and against its competition over time
?Consumer promise
? Statement summarizing the benefit of the product
or service to the consumer
Communication Strategies
? Messaging by audience
? Target consumer demographics
Packaging and Fulfillment
? Product packaging
? Discuss form factor, pricing, look, and strategy
? Discuss fulfillment issues for items not shipped
directly with the product
?COGs
? Summarize cost of goods and high-level bill of
materials
Launch Strategies
? Launch plan
? If product is being announced
?Promotion budget
?Supply backup material with detailed budget
information for review
Public Relations
? Strategy and execution
? PR strategies
? PR plan highlights
? Have backup PR plan including editorial calendars,
speaking engagements, conference schedules, etc.
Advertising
? Strategy and execution
? Overview of strategy
? Overview of media and timing
? Overview of ad spending
Other Promotion
? Direct marketing
? Overview of strategy, vehicles, and timing
? Overview of response targets, goals, and budget
?Third-party marketing
? Co-marketing arrangements with other companies
?Marketing programs
? Other promotional programs
Pricing
? Pricing
? Summarize specific pricing or pricing strategies
? Compare to similar products
? Policies
? Summarize policy relevant to understanding key
pricing issues
Distribution
? Distribution strategy
? Channels of distribution
? Summarize channels of distribution
? Distribution by channel
? Show plan of what percent share of
distribution will be contributed by each
channel ? a pie chart might be helpful
Vertical Markets/Segments
? Vertical market opportunities
? Discuss specific market segment opportunities
? Address distribution strategies for those markets
or segments
? Address use of third-party partner role in
distribution to vertical markets
International
? International distribution
? Address distribution strategies
? Discuss issues specific to international distribution
? International pricing strategy
? Localization issues
? Highlight requirements for local product variations
Success Metrics
?
?
?
?
First year goals
Additional year goals
Measures of success/failure
Requirements for success
Schedule
? 18-month schedule highlights
? Timing
? Isolate timing dependencies critical to success
SUMMARY
1. KNOW WHAT A MARKETING PLAN IS AND HOW TO DESCRIBE IT.
2. UNDERSTAND THE COMPONENTS OF A MARKETING PLAN.
3. BE ABLE TO DEMONSTRATE PROPER DEVELOPMENT AND FORMATTING
OF A MARKETING PLAN.
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Coaching 21st Century Leadership Skills
Dr. Timothy K. Glaid
Principal
427 Cadberry Court
Upper St. Clair, PA 15241-1300
Phone: 412 260-5841
Email: [email protected]
Website: http://www.leadershipignite.com
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