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Slide 1 - Creating a Unified Marketing Platform Nathan George, M.S., J.D. Based on a Presentation by Dr. Kevin Lance Jones
Slide 2 - The Marketing Plan Central instrument for directing and coordinating the marketing effort How do you coordinate your marketing efforts? Plan ahead? Shoot from the hip?
Slide 3 - The Marketing Plan Marketing planning procedures and content vary considerably among companies Vary in length from under 5 pages to 50 pages Some organizations take it very seriously while others see them as a rough guide to action
Slide 4 - The Marketing Plan Marketing must be approached as both an “art” and a “science” – constant tension between the formulated side of marketing and the creative side Operates at a strategic level and a tactical level Sometimes referred to as a “Battle Plan”
Slide 5 - Preparing for Battle “In preparing for battle, I have always found that plans are useless but planning is indispensable.” - President Dwight Eisenhower
Slide 6 - Preparing for Battle The most frequently cited shortcomings of current marketing plans, according to marketing executives are: Lack of Realism Insufficient Competitive Analysis Short-run focus
Slide 7 - Contents of a Marketing Plan
Slide 8 - Contents of your Battle Plan Executive Summary & Table of Contents Open with a brief summary of the main goals and recommendations Executive summary helps senior management to understand major points fast Table of contents that outlines the rest of the plan and all the supporting rationale and operational detail should follow the executive summary
Slide 9 - Contents of your Battle Plan Situational Analysis Presents relevant background data on sales, costs, the market, competitors, and the various forces in the macro-environment How is the market defined, how big is it, and how fast is it growing? What are the relevant trends affecting the market? What is the product offering and what are the critical issues facing the company? Pertinent historical information can be included to provide context Carry out a SWOT (strengths, weaknesses, opportunities, threats) analysis
Slide 10 - Contents of your Battle Plan Marketing Strategy Here the product manager defines the mission, marketing and financial objectives. They also define groups and needs that the product intends to satisfy. The manager then establishes the product’s competitive positioning, which is the “game plan” to do the plan’s objectives. This is done with inputs from other areas, like purchasing, sales, manufacturing, finance and human resources, so that the firm can provide proper support for implementation. The marketing strategy should be specific about the branding strategy and customer strategy that will be employed.
Slide 11 - Contents of your Battle Plan Financial Projections Financial projections include a sales forecast, an expense forecast, and a break-even analysis. On the revenue side, the projections show the forecasted sales volume by month and product category. On the expense side, the projections show the expected costs of marketing, broken down into finer categories. The break-even analysis shows how many units must be sold monthly to offset the monthly fixed costs and average per-unit variable costs.
Slide 12 - Contents of your Battle Plan Implementation Controls Tells how to monitor and adjust the plan as it is implemented Internal and external measures that assess progress and suggest possible changes Some organizations include contingency plans – outlining steps management would take in response to specific environmental developments
Slide 13 - Contents of your Battle Plan See handout for a complete Marketing Plan Outline with notes as well as a Sample Marketing Plan.
Slide 14 - Barriers to Marketing Source: Robert A. Sevier Thinking Outside the Box
Slide 15 - Barriers to Marketing Lack of Motivation to Change If stakeholders do not feel the need to respond to threats or emerging opportunities, it is unlikely that there will be enough consensus for marketing.
Slide 16 - Barriers to Marketing No Management Commitment If the president does not support marketing vocally and demonstrate this support with adequate staffing and budgets, it will fail.
Slide 17 - Barriers to Marketing Belief that Strategic Problems Can be Solved Tactically All the promotion in the world won’t save a flawed or outdated management or operations style.
Slide 18 - Barriers to Marketing Failure of Managers from Different Departments to Work Together If the chief financial officer, marketing, human resources, and front line managers are not willing to share goals and resources, then the marketing effort will be seriously impaired.
Slide 19 - Barriers to Marketing Reluctance to See the Situation Realistically Marketing decisions must be founded on reliable information. A legitimate environmental audit, assessment of needs, being a “learning organization,” and perception and positioning studies must be undertaken.
Slide 20 - Barriers to Marketing An Inconsistent Definition of Marketing Among Key Players From the outset, planners and the company staff must use a common definition of marketing. This can and should be defined by executive management.
Slide 21 - Barriers to Marketing A Confusion Between Stakeholders and Customers Stakeholders – staff, administrators, shareholders and others – are people who work for and/or support the company. Customers are the people who pay the bills. Keep them both happy – not just one.
Slide 22 - Evaluating the Plan Source: Tim Berry and Doug Wilson On Target: The Book on Marketing Plans
Slide 23 - Evaluating the Marketing Plan Questions to ask: Is the plan simple? Is it easy to understand and act on? Does it communicate its content easily and practically?
Slide 24 - Evaluating the Marketing Plan Questions to ask: Is the plan specific? Are its objectives concrete and measurable? Does it include specific actions and activities, each with specific dates of completion, specific persons responsible, and specific budgets?
Slide 25 - Evaluating the Marketing Plan Questions to ask: Is the plan realistic? Are the goals, expense budgets, and milestone dates realistic? Has a frank and honest self-critique been conducted to raise possible concerns and objectives?
Slide 26 - Evaluating the Marketing Plan Questions to ask: Is the plan complete? Does it include all the necessary elements?
Slide 27 - Tips & Helpful Hints
Slide 28 - Tips and Helpful Hints Keep in mind the aspects of holistic marketing: Relationship Marketing Integrated Marketing Internal Marketing Social Responsibility Marketing
Slide 29 - Tips and Helpful Hints Once it’s written, don’t set it on the shelf to collect dust: Keep it in action – re-evaluate the plan every 1-2 months. Make appropriate adjustments. Learn from trial and error.
Slide 30 - Tips and Helpful Hints Adjustments to the plan can be due to new PR strategies, crisis management, big events and changes, and more.
Slide 31 - Conclusion “It pays to plan ahead. It wasn’t raining when Noah built the arc.” - Denis Waitley
Slide 32 - Sources Philip Kotler and Kevin Lane Keller: Marketing Management, 12th edition Tim Berry and Doug Wilson: On Target: The Book on Marketing Plans Robert A. Sevier: Thinking Outside the Box