New version page

ISU MKT 443 - Marketing Plan

Upgrade to remove ads
Upgrade to remove ads
Unformatted text preview:

Slide 1Major Topics of Ch. 1What is a (formal) marketing plan?Time Horizons for Marketing PlansHierarchy of PlanningObjectives of a Marketing PlanObjectives of a Marketing Plan (cont’).Marketing Planning SequenceMarketing Plan SummaryMarketing Plan Summary (con’t)Frequent Mistakes in the Planning ProcessFrequent Mistakes in the Planning Process (cont)What Makes a Good Planning System?Sources of Help*McGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.C H A P T E R Overview1McGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Major Topics of Ch. 1Major Topics of Ch. 11. What is a Marketing Plan?2. Marketing Plan Sequence*3. Contents of A Typical Marketing Plan*4. Good and Bad in Marketing Planning5. Sources of Help for YouMcGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.What is a (formal) marketing plan?What is a (formal) marketing plan? A marketing plan is a written document containing the guidelines for the business unit’s marketing programs and allocations of resources over the planning period.McGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Time Horizons for Marketing PlansTime Horizons for Marketing PlansTime Period Consumer ProductsIndustrial ProductsServices1 year 62% 45% 65%3 years 5 5 85 years 15 17 3Long term 4 3 6Indefinite 0 2 2Other 14 28 16McGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Hierarchy of PlanningHierarchy of PlanningGroup or sector planningSBU planningAnnual marketing (business) planCorporate Strategic Planningwww.ge.com/www.hp.comMcGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.ObjectivesObjectives of a Marketing Plan of a Marketing Plan1. To define the current business situation.2. To identify problems and opportunities facing the business.*3. To establish business objectives.4. To define the strategies (e.g.,target market) and programs necessary to achieve the objectives.McGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Objectives of a Marketing Plan (cont’).Objectives of a Marketing Plan (cont’).5. To pinpoint responsibility for objectives.6. To establish timetables and metrics for achieving objectives.*7. To encourage careful and disciplined thinking.*** 8. To establish an outward (customer/competitor) orientation.* Two Approaches: Top-Down or Bottom-UpMcGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Marketing Planning SequenceMarketing Planning SequenceCollect dataAnalyze dataDevelop objectives, strategies, programsDevelop financial documentsNegotiate final plan*Measure progress toward objectivesAuditMcGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Marketing Plan SummaryMarketing Plan SummaryI. Executive summary (Don’t forget this!)II. Situation analysisA. Industry analysis (should be on the industry, not a firm)B. Sales analysis (Industry level)C. Competitor analysisD. Customer analysisE. Planning assumptionsF. Sales ForecastsMcGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Marketing Plan Summary (con’t)Marketing Plan Summary (con’t)III. (Marketing) objectivesIV. (Marketing) strategy**V. Marketing programs (Marketing Mix)**VI. Financial documentsVII. Monitors and controls (optional)VIII. Contingency plans (optional)McGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Frequent Mistakes in the Planning ProcessFrequent Mistakes in the Planning ProcessThe Speed of the ProcessThe Amount of Data/Information CollectedWho does the Planning?The StructureLength of the Plan: 20-30 PagesMcGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Frequent Mistakes in the Planning Process (cont)Frequent Mistakes in the Planning Process (cont)Number of Courses of Action Considered*Who Sees the PlanNot Using the Plan as a Sales DocumentInsufficient Senior Management LeadershipNot Tying Compensation to Successful Planning EffortsMcGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.What Makes a Good Planning System?What Makes a Good Planning System?Utilize experience from multiple managerial levels*Employ internal and external sources of information*Spend Sufficient Time*Give Incentives for Good Planning*McGraw-Hill/Irwin© 2002 The McGraw-Hill Companies, Inc., All Rights Reserved.Sources of Help*Sources of Help*I. Planning SoftwareI. Marketing Plan Pro* www.paloaltosoftware.comII. Some websitesI. www.bizcenter.orgII. www.brs-inc.comIII. www.startupjournal.comIII. WorkshopsI. Tech Transfer Forum II. Iowa SBDC and Pappajohn centerIV. Previous Project Reports (in my


View Full Document
Download Marketing Plan
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...
Login

Join to view Marketing Plan and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Marketing Plan 2 2 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?