Discussion Question 550 Words

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Marketing Plans

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Marketing Framework

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Discussion Question #1

What do you think goes into a marketing plan?

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Marketing Plan Overview #1

The sections of a marketing plan follow the marketing framework

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Situational Analysis

Situation analysis: 5Cs

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5Cs: Company Example

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5Cs: Customer Example

Begin with secondary research, then primary research

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5Cs: Context Example

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5Cs: Collaborators Example

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5Cs: Competitors Example

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Marketing Plan Overview #2

Market analysis and strategies (STP)

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Segmentation Example

Identify segmentation variables that are relevant to the product

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Targeting Example

Find targets that

Fit well with company

Are profitable

Are actionable

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Positioning Example

Positioning is executed via the 4Ps

Write a positioning statement

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Discussion Questions #2

Assume you are marketing a new designer clothing line

List appropriate segmentation variables.

Choose one target market.

Write a positioning statement.

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Marketing Plan Overview #3

Tactical plans: 4Ps

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Product Example

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Pricing Example

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Promotion Example

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Place Example

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4P Considerations

Make sure that your 4Ps are consistent with one another

e.g., Exclusive distribution with heavy promotion is inconsistent

Make sure that your 4Ps are what your target desires

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Discussion Questions #3

For a new designer clothing line, what would be your

Product mix decisions?

Price decisions?

Promotion decisions?

Distribution decisions?

What factors would you utilize to justify your decisions above?

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Spending Time and Money

Establish a time line for actions

Establish cost estimates

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Appendices

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Better Marketing Plans

Better marketing plans

Have more refined detail

Have precise estimates

Shed light on weaknesses of the plan

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Managerial Recap
(slide 1 of 2)

When completing a marketing plan, remember the 5Cs, STP, and the 4Ps

The marketing plan reminds the company of its goals and serves as a guide to achieve those goals

Marketing strategy/planning is iterative

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Managerial Recap
(slide 2 of 2)

Marketing plans are works in progress

As situations change, plans change

More detailed plans are better

Massage the plan to be readable

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