Chapter 12: Marketing Plans: Saying How You`ll Get Sales

Report
Marketing
Plans: Saying
How You’ll Get
Sales
Chapter 12
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document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Learning Objectives
LO1 Understand the importance of a marketing
plan
LO2 Recognize the major methods of conducting
market research
LO3 Use sales forecasting methods
LO4 Find or create a product’s differential
advantage
LO5 Identify the critical components of a
marketing plan
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any
manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-2
The Importance of Having a
Marketing Plan
Marketing plan
 a systematic written plan of all phases of
marketing for a business, including information
on the product, price, and distribution and
promotion strategy, as well as a clear
identification of the target market and
competition
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any
manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-3
Market Research
Marketing research
 Systematic collection and interpretation of data
to support future marketing decisions.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-4
Market Research
Primary research
 New information
collected to solve a
problem at hand or
answer current
questions.
Secondary research
 Information already
collected for some
other purpose than
the current problem
or questions.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-5
Market Research
Secondary data
BizStats.com
 information already Economic Census:
collected for some
census.gov
other purpose than
the current problem Business Expenses
Survey:
www.census.gov/cs
d/bes/
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-6
Primary Research
Primary data






information is extremely current
Take some more time and money to gather it
Marketing research firms can do this for you
Zoomerang (www.zoomerang.com)
Survey Monkey(www.surveymonkey.com)
SCORE (www.score.org)
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-9
Cost Comparisons for
Various Survey Methods
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12-10
Primary Research
Ethnographic research
 data gathered by simple observation – seeing
what consumers do, rather than asking them
Focus group
 form of data gathering from a small group led by
a moderator
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-11
Primary Research
Survey
 A data-collection method using a
questionnaire—in person, on phone, on paper,
or on the Internet.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-12
Sales Forecasting
One of the most important pieces of
marketing plan
Knowing what your sales will be
Companies often base sales forecasts on
historical sales, but new companies cannot do
that
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-16
Sales Forecasting
Products or services are tied to others
 Estimate total market
 Calculate what percentage of that market you
can get
Other products and services are not tied as
neatly to others
 Good situation for some marketing research
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-17
Differential Advantage
Differential advantage
 The characteristic that separates one company
from another in product, price, promotion,
and/or distribution.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-19
Components of The
Marketing Plan
Discuss your target market
Explain your current situation
Marketing strategy and objectives
Product, promotion, price, and place
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12-20
Target Market
Market segmentation
 The process of dividing the market into groups
that have somewhat homogeneous needs for a
product or service.
 Geographic, demographic, benefit
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-21
Target Market
Undifferentiated strategy
 A marketing strategy that uses no segmentation;
assumes that all consumers have virtually
identical needs and can be reached by the same
marketing mix.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-22
Target Market
Differentiated strategy
 A marketing strategy in which a marketer selects
two or more distinct groups of consumers and
designs specific marketing mixes to meet their
needs.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-23
Target Market
Concentrated strategy
 A marketing strategy in which a marketer selects
one specific group of consumers and designs a
marketing mix specifically for that group.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-24
Current Situation
What you have done over the past year and
how effective these actions were
Reflect on the political, economic, cultural,
and other external environments
SWOT analysis
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12-25
Current Situation
Direct competition
 Other companies that make a similar product or
provide a similar service; for example, direct
competition for Coca-Cola includes all other soft
drink providers.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-26
Current Situation
Indirect competition
 Companies that provide alternatives that are
dissimilar to your product/service that
consumers might choose to meet a similar need;
for example, indirect competition for Coca-Cola
includes any other company providing items to
quench thirst.
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-27
Competitive Analysis
Exhibit 12.1
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12-28
The 4 P’s
Product
Place
Price
Promotion
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-29
Marketing Plan Outline
Table 12.2
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manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
12-31

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