This presentation is a general introduction/refresher to marketing planning and it will guide you through the planning process and building the plan itself. The presentation starts with an overview of marketing and this part is generally aimed individuals with limited marketing management experience or marketers who want a refresher. The next sections go into the market planning process, marketing communications planning, marketing budgets and forecasts, and the final section covers writing the marketing plan.
1. The document discusses various marketing strategies such as focusing resources on opportunities to increase sales and achieve competitive advantage through customer satisfaction, product development, promotion, and pricing.
2. Several types of marketing strategies are described, including those based on market dominance, Porter's generic strategies, innovation strategies, growth strategies, and marketing warfare strategies which draw parallels to military strategies.
3. Diversification strategies like concentric, horizontal, and conglomerate diversification are also outlined as ways for companies to increase profitability through new products and markets.
The document discusses the marketing planning process at different levels of an organization. It describes the steps in planning including analyzing opportunities, developing strategies, and allocating funds. Planning occurs at the corporate, division, business unit, and product levels. The key aspects of planning at each level are defined, such as establishing strategic business units and assessing growth opportunities at the corporate level. Product planning develops individual marketing plans within the overarching plans of higher levels.
The document discusses various concepts related to market segmentation, targeting, positioning, and differentiation. It begins by defining market segmentation as the process of dividing the heterogeneous market into homogeneous subgroups. It then discusses the benefits and implementation of market segmentation. The document also covers topics like mass marketing vs micro marketing, levels of segmentation, bases for segmenting consumer and business markets, and market segmentation in various industries. It discusses the concepts of targeting, positioning, differentiation strategies and their application to products and services.
The document summarizes key aspects of managing a sales force as discussed in Chapter 1. It outlines six common sales positions, from deliverer to solution vendor. It also discusses designing the sales force structure, including territorial versus product/market structures. Finally, it covers recruiting, training, supervising, motivating and evaluating sales representatives.
The document discusses key aspects of marketing information systems and market research. It begins by outlining the steps in the market research process which includes defining problems/objectives, developing a research plan, implementing the plan by collecting/analyzing data, and interpreting/reporting findings. It then defines the marketing information system as consisting of people, equipment and procedures to gather, analyze and distribute timely and accurate information to decision makers. Lastly, it discusses how companies analyze information using statistical analysis and CRM software, and distribute it through reporting, databases and intranets.
Marketing control is the process of assessing marketing activities and programs and making necessary adjustments. It includes annual plan control, profitability control, efficiency control, and strategic control. Strategic control is exercised by top management and consists of marketing effectiveness reviews and marketing audits to review objectives, strategies, and programs. A marketing audit is a comprehensive, systematic, and independent examination of a company's marketing environment, objectives, strategies, and activities to identify problems and opportunities for improved performance.
1. The document discusses various marketing strategies such as focusing resources on opportunities to increase sales and achieve competitive advantage through customer satisfaction, product development, promotion, and pricing.
2. Several types of marketing strategies are described, including those based on market dominance, Porter's generic strategies, innovation strategies, growth strategies, and marketing warfare strategies which draw parallels to military strategies.
3. Diversification strategies like concentric, horizontal, and conglomerate diversification are also outlined as ways for companies to increase profitability through new products and markets.
The document discusses the marketing planning process at different levels of an organization. It describes the steps in planning including analyzing opportunities, developing strategies, and allocating funds. Planning occurs at the corporate, division, business unit, and product levels. The key aspects of planning at each level are defined, such as establishing strategic business units and assessing growth opportunities at the corporate level. Product planning develops individual marketing plans within the overarching plans of higher levels.
The document discusses various concepts related to market segmentation, targeting, positioning, and differentiation. It begins by defining market segmentation as the process of dividing the heterogeneous market into homogeneous subgroups. It then discusses the benefits and implementation of market segmentation. The document also covers topics like mass marketing vs micro marketing, levels of segmentation, bases for segmenting consumer and business markets, and market segmentation in various industries. It discusses the concepts of targeting, positioning, differentiation strategies and their application to products and services.
The document summarizes key aspects of managing a sales force as discussed in Chapter 1. It outlines six common sales positions, from deliverer to solution vendor. It also discusses designing the sales force structure, including territorial versus product/market structures. Finally, it covers recruiting, training, supervising, motivating and evaluating sales representatives.
The document discusses key aspects of marketing information systems and market research. It begins by outlining the steps in the market research process which includes defining problems/objectives, developing a research plan, implementing the plan by collecting/analyzing data, and interpreting/reporting findings. It then defines the marketing information system as consisting of people, equipment and procedures to gather, analyze and distribute timely and accurate information to decision makers. Lastly, it discusses how companies analyze information using statistical analysis and CRM software, and distribute it through reporting, databases and intranets.
Marketing control is the process of assessing marketing activities and programs and making necessary adjustments. It includes annual plan control, profitability control, efficiency control, and strategic control. Strategic control is exercised by top management and consists of marketing effectiveness reviews and marketing audits to review objectives, strategies, and programs. A marketing audit is a comprehensive, systematic, and independent examination of a company's marketing environment, objectives, strategies, and activities to identify problems and opportunities for improved performance.
Corporate Division Plan, Business Unit Plan, Assigning Resource to SBU, BCG M...Lalita Shrestha
This document discusses corporate and divisional level strategic planning. It covers defining the corporate mission and objectives, establishing strategic business units (SBUs), and models for assigning resources to SBUs including the BCG matrix and GE/McKinsey model. The BCG matrix classifies SBUs into Stars, Cash Cows, Question Marks, and Dogs based on market growth and share. The GE model evaluates SBUs based on their market attractiveness and business strength to determine whether to invest, protect, harvest, or divest resources.
Strategic marketing planning involves matching a company's resources with market opportunities over the long run. It includes developing a mission, objectives, strategies, and tactics. The annual marketing plan operationalizes the strategic plan through situation analysis, objectives, strategies, tactics, financial schedules, and evaluation procedures. Strategic business units allow separate definition and profit responsibility for distinct businesses. Growth-share matrices assess businesses across industry attractiveness and competitive strength.
This document provides an overview of marketing concepts. It defines marketing as satisfying customer needs at a profit. The goal of marketing is to attract new customers by promising value and keeping current customers satisfied. Marketing involves understanding customer needs and creating value through products and services exchanged in markets. Firms must practice the marketing concept of customer-orientation to be successful. The document outlines different philosophies like production and selling concepts, and discusses modern challenges like globalization.
The document discusses building customer relationships through relationship marketing. Relationship marketing focuses on keeping and improving current customers rather than acquiring new ones. The primary goal is to build and maintain a committed customer base that is profitable for the organization. Relationship marketing provides benefits for both customers and organizations, including reduced costs and increased revenues over time. Relationship development strategies can occur at different levels, from financial bonds like rewards to structural bonds like integrated systems, with each level creating stronger ties between the customer and organization.
The document provides an overview of sales and distribution management. It discusses the growing importance of sales and defines key concepts like personal selling, sales management, distribution management, and the relationship between sales objectives, strategies, and tactics. It also outlines the roles and skills of a sales manager, different sales positions, and emerging trends in the field. Distribution management plays a key supporting role in executing the plans developed by sales management.
The Definition of Marketing Series:Relationship Marketing. Learn how to use relationship marketing to improve your firm's performance. Relationship marketing is also a key factor underpinning success in social media marketing as it builds engagement with customers. For more information go to: http://hausmanmarketresearch.org
This document discusses forecasting and demand measurement. Forecasting involves estimating future demand by anticipating customer behavior under different conditions. It is important for businesses to forecast in order to plan investments, products, and capacity. There are two types of forecasting: macro, which looks at total market demand, and micro, which focuses on unit sales. Choosing a forecasting method depends on required accuracy, available data, time horizon, and product lifecycle stage. Creating a sales forecast involves estimating market demand, a company's share of that demand, and an expected sales level based on marketing plans. Common forecasting techniques analyze past sales trends, customer intentions, and customer behaviors.
The document discusses strategic planning and marketing strategy. It explains that strategic planning involves developing a strategic fit between an organization's goals and capabilities and its changing marketing opportunities. It also describes analyzing a company's business portfolio, which involves assessing current businesses and developing strategies to shape the future portfolio. Furthermore, it details marketing's role in strategic planning, which includes providing guidance, identifying opportunities, designing strategies, and building value chains. The document also outlines elements of a customer-driven marketing strategy, including market segmentation, targeting, positioning, and the marketing mix. Finally, it lists the core marketing management functions of analysis, planning, implementation, and control.
Distribution channels marketing management pptGanesh Asokan
The document discusses key aspects of channels including their nature, design, management and conflicts. It describes how channels help distribute products efficiently by utilizing specialized intermediaries. The document outlines factors to consider in channel design like customer needs, objectives and alternative structures. It also discusses evaluating alternatives based on economic and control criteria. Finally, the summary highlights how channel members are selected, motivated and evaluated over time to ensure good performance.
This document discusses sales organization structures and sales force deployment. It covers key concepts like specialization, centralization, span of control, and line vs staff positions. Different types of sales organization structures are presented like geographic, product, market, functional and hybrid structures. Considerations for major account management programs and determining the appropriate sales force size are also examined. Finally, the document outlines three interrelated questions around determining required selling effort, number of salespeople, and territory design for effective sales force deployment.
This document discusses the management of sales territories. It defines a sales territory as a group of present and potential customers assigned to a salesperson, team, branch, dealer, or other marketing organization for a given period of time. Managing sales territories effectively has several advantages, such as ensuring better market coverage, utilizing the salesforce efficiently, controlling costs, and optimizing salespeople's time. The document outlines factors that influence modifying territories and different shapes territories can take. It also discusses strategic planning matrices to analyze opportunity levels and allocate resources accordingly.
This document discusses channel design and the process of developing an effective channel structure. It outlines five key dimensions to consider: market, product, company, intermediary, and environmental. When designing channels, companies should define customer needs, channel objectives, evaluate alternatives based on economic, control and adaptive criteria, and select an ideal structure. An effective channel design meets criteria of effectiveness, efficiency, equity, scalability and flexibility, and involves decisions around channel members and partners.
Chapter 1 introduction to sales and distribution managementNishant Agrawal
To understand evolution, nature and importance of sales management
To know role and skills of modern sales managers
To understand types of sales managers
To learn objectives, strategies and tactics of sales management
To know emerging trends in sales management
To understand linkage between sales and distribution management.
Direct Marketing: Importance, Advantages And Types | Retail Vs. Buying Direct, It's Components And Characteristics In Addition To The Classic B. A. N. T. Method Of Lead Qualification
This document provides an overview of marketing concepts and approaches. It discusses five concepts that guide a business's marketing activities: the production concept, product concept, selling concept, marketing concept, and societal marketing concept. The marketing concept views customers as central and focuses on satisfying customer needs. The document also defines key marketing terms like needs, wants, demands, products, value, exchange, and markets. It emphasizes that the most effective approach is to understand customer needs and wants.
This document outlines various marketing strategies, including market scope strategy, market entry strategy, product strategy, promotion strategy, distribution strategy, and pricing strategy. For each strategy, it provides examples of different approaches (e.g. single market strategy, multi market strategy, total market strategy for market scope) and requirements for implementation. The strategies are described at a high level with the objectives and key considerations for each approach.
Formulating Marketing Strategy in Advanced MarketingNikhil Gupta
The presentation gives a brief idea about the steps involved in Formulating Marketing Strategy. The presentation is an extract of how to formulate marketing strategy.
The document discusses marketing processes and strategic marketing planning. It covers defining a corporate mission and goals, establishing business units, conducting SWOT and environmental analyses, developing marketing strategies using frameworks like Ansoff's matrix and Porter's generic strategies, creating a marketing plan, and analyzing marketing opportunities through internal records and market intelligence. The purpose of strategic planning and having a marketing plan is to help firms deliver targeted profits and growth.
The elements of the marketing plan build the course of action for a company.
To help you succeed, we have put together the key components of a successful Marketing Plan.
The document discusses business-level strategy and competitive advantage. It explains that companies must decide on customer needs, customer groups, and distinctive competencies to develop a successful business model. This determines which strategies are formulated to differentiate products, price products, segment markets, and develop product ranges. There are four generic business-level strategies - cost leadership, focused cost leadership, differentiation, and focused differentiation - that create competitive positions. Maintaining a strong competitive position requires analyzing strategic groups and continually improving the business model in response to industry changes.
How to Align Marketing Campaign Plans and Budgets with SiriusDecisionsAllocadia Software
The document provides an overview of aligning marketing campaign plans and budgets using the SiriusDecisions Campaign Framework and Allocadia software. It discusses defining complete campaigns based on buyer needs rather than products, comprising reputation, demand creation, sales enablement, and market intelligence programs. Budgets should be allocated to campaigns over time using a top-down then bottom-up approach. Allocadia software allows defining a campaign hierarchy, setting targets, aligning to goals, and measuring ROI on spend.
IBM underwent a marketing transformation journey by bringing science to the art of marketing. They implemented a marketing automation platform to integrate previously siloed marketing processes and technologies. This allowed campaigns to be planned, executed, nurtured and measured within a single system. It provided a single view of customer responses and interactions across channels. This led to faster follow up, improved engagement through personalized email nurturing, and better insights to optimize campaigns. The transformation improved execution, responsiveness and business results.
Corporate Division Plan, Business Unit Plan, Assigning Resource to SBU, BCG M...Lalita Shrestha
This document discusses corporate and divisional level strategic planning. It covers defining the corporate mission and objectives, establishing strategic business units (SBUs), and models for assigning resources to SBUs including the BCG matrix and GE/McKinsey model. The BCG matrix classifies SBUs into Stars, Cash Cows, Question Marks, and Dogs based on market growth and share. The GE model evaluates SBUs based on their market attractiveness and business strength to determine whether to invest, protect, harvest, or divest resources.
Strategic marketing planning involves matching a company's resources with market opportunities over the long run. It includes developing a mission, objectives, strategies, and tactics. The annual marketing plan operationalizes the strategic plan through situation analysis, objectives, strategies, tactics, financial schedules, and evaluation procedures. Strategic business units allow separate definition and profit responsibility for distinct businesses. Growth-share matrices assess businesses across industry attractiveness and competitive strength.
This document provides an overview of marketing concepts. It defines marketing as satisfying customer needs at a profit. The goal of marketing is to attract new customers by promising value and keeping current customers satisfied. Marketing involves understanding customer needs and creating value through products and services exchanged in markets. Firms must practice the marketing concept of customer-orientation to be successful. The document outlines different philosophies like production and selling concepts, and discusses modern challenges like globalization.
The document discusses building customer relationships through relationship marketing. Relationship marketing focuses on keeping and improving current customers rather than acquiring new ones. The primary goal is to build and maintain a committed customer base that is profitable for the organization. Relationship marketing provides benefits for both customers and organizations, including reduced costs and increased revenues over time. Relationship development strategies can occur at different levels, from financial bonds like rewards to structural bonds like integrated systems, with each level creating stronger ties between the customer and organization.
The document provides an overview of sales and distribution management. It discusses the growing importance of sales and defines key concepts like personal selling, sales management, distribution management, and the relationship between sales objectives, strategies, and tactics. It also outlines the roles and skills of a sales manager, different sales positions, and emerging trends in the field. Distribution management plays a key supporting role in executing the plans developed by sales management.
The Definition of Marketing Series:Relationship Marketing. Learn how to use relationship marketing to improve your firm's performance. Relationship marketing is also a key factor underpinning success in social media marketing as it builds engagement with customers. For more information go to: http://hausmanmarketresearch.org
This document discusses forecasting and demand measurement. Forecasting involves estimating future demand by anticipating customer behavior under different conditions. It is important for businesses to forecast in order to plan investments, products, and capacity. There are two types of forecasting: macro, which looks at total market demand, and micro, which focuses on unit sales. Choosing a forecasting method depends on required accuracy, available data, time horizon, and product lifecycle stage. Creating a sales forecast involves estimating market demand, a company's share of that demand, and an expected sales level based on marketing plans. Common forecasting techniques analyze past sales trends, customer intentions, and customer behaviors.
The document discusses strategic planning and marketing strategy. It explains that strategic planning involves developing a strategic fit between an organization's goals and capabilities and its changing marketing opportunities. It also describes analyzing a company's business portfolio, which involves assessing current businesses and developing strategies to shape the future portfolio. Furthermore, it details marketing's role in strategic planning, which includes providing guidance, identifying opportunities, designing strategies, and building value chains. The document also outlines elements of a customer-driven marketing strategy, including market segmentation, targeting, positioning, and the marketing mix. Finally, it lists the core marketing management functions of analysis, planning, implementation, and control.
Distribution channels marketing management pptGanesh Asokan
The document discusses key aspects of channels including their nature, design, management and conflicts. It describes how channels help distribute products efficiently by utilizing specialized intermediaries. The document outlines factors to consider in channel design like customer needs, objectives and alternative structures. It also discusses evaluating alternatives based on economic and control criteria. Finally, the summary highlights how channel members are selected, motivated and evaluated over time to ensure good performance.
This document discusses sales organization structures and sales force deployment. It covers key concepts like specialization, centralization, span of control, and line vs staff positions. Different types of sales organization structures are presented like geographic, product, market, functional and hybrid structures. Considerations for major account management programs and determining the appropriate sales force size are also examined. Finally, the document outlines three interrelated questions around determining required selling effort, number of salespeople, and territory design for effective sales force deployment.
This document discusses the management of sales territories. It defines a sales territory as a group of present and potential customers assigned to a salesperson, team, branch, dealer, or other marketing organization for a given period of time. Managing sales territories effectively has several advantages, such as ensuring better market coverage, utilizing the salesforce efficiently, controlling costs, and optimizing salespeople's time. The document outlines factors that influence modifying territories and different shapes territories can take. It also discusses strategic planning matrices to analyze opportunity levels and allocate resources accordingly.
This document discusses channel design and the process of developing an effective channel structure. It outlines five key dimensions to consider: market, product, company, intermediary, and environmental. When designing channels, companies should define customer needs, channel objectives, evaluate alternatives based on economic, control and adaptive criteria, and select an ideal structure. An effective channel design meets criteria of effectiveness, efficiency, equity, scalability and flexibility, and involves decisions around channel members and partners.
Chapter 1 introduction to sales and distribution managementNishant Agrawal
To understand evolution, nature and importance of sales management
To know role and skills of modern sales managers
To understand types of sales managers
To learn objectives, strategies and tactics of sales management
To know emerging trends in sales management
To understand linkage between sales and distribution management.
Direct Marketing: Importance, Advantages And Types | Retail Vs. Buying Direct, It's Components And Characteristics In Addition To The Classic B. A. N. T. Method Of Lead Qualification
This document provides an overview of marketing concepts and approaches. It discusses five concepts that guide a business's marketing activities: the production concept, product concept, selling concept, marketing concept, and societal marketing concept. The marketing concept views customers as central and focuses on satisfying customer needs. The document also defines key marketing terms like needs, wants, demands, products, value, exchange, and markets. It emphasizes that the most effective approach is to understand customer needs and wants.
This document outlines various marketing strategies, including market scope strategy, market entry strategy, product strategy, promotion strategy, distribution strategy, and pricing strategy. For each strategy, it provides examples of different approaches (e.g. single market strategy, multi market strategy, total market strategy for market scope) and requirements for implementation. The strategies are described at a high level with the objectives and key considerations for each approach.
Formulating Marketing Strategy in Advanced MarketingNikhil Gupta
The presentation gives a brief idea about the steps involved in Formulating Marketing Strategy. The presentation is an extract of how to formulate marketing strategy.
The document discusses marketing processes and strategic marketing planning. It covers defining a corporate mission and goals, establishing business units, conducting SWOT and environmental analyses, developing marketing strategies using frameworks like Ansoff's matrix and Porter's generic strategies, creating a marketing plan, and analyzing marketing opportunities through internal records and market intelligence. The purpose of strategic planning and having a marketing plan is to help firms deliver targeted profits and growth.
The elements of the marketing plan build the course of action for a company.
To help you succeed, we have put together the key components of a successful Marketing Plan.
The document discusses business-level strategy and competitive advantage. It explains that companies must decide on customer needs, customer groups, and distinctive competencies to develop a successful business model. This determines which strategies are formulated to differentiate products, price products, segment markets, and develop product ranges. There are four generic business-level strategies - cost leadership, focused cost leadership, differentiation, and focused differentiation - that create competitive positions. Maintaining a strong competitive position requires analyzing strategic groups and continually improving the business model in response to industry changes.
How to Align Marketing Campaign Plans and Budgets with SiriusDecisionsAllocadia Software
The document provides an overview of aligning marketing campaign plans and budgets using the SiriusDecisions Campaign Framework and Allocadia software. It discusses defining complete campaigns based on buyer needs rather than products, comprising reputation, demand creation, sales enablement, and market intelligence programs. Budgets should be allocated to campaigns over time using a top-down then bottom-up approach. Allocadia software allows defining a campaign hierarchy, setting targets, aligning to goals, and measuring ROI on spend.
IBM underwent a marketing transformation journey by bringing science to the art of marketing. They implemented a marketing automation platform to integrate previously siloed marketing processes and technologies. This allowed campaigns to be planned, executed, nurtured and measured within a single system. It provided a single view of customer responses and interactions across channels. This led to faster follow up, improved engagement through personalized email nurturing, and better insights to optimize campaigns. The transformation improved execution, responsiveness and business results.
The document outlines the agenda for a two-day strategic alignment workshop between the boards of directors of Bank CIMB Niaga. Day 1 includes presentations of executive interviews identifying team dynamics issues and cultural differences between the merging banks, as well as group discussions around direction, leadership, and culture. Day 2 begins with a review and discussion of Goldman Sachs' leadership development model and team dynamics concepts, followed by discussions to develop strategic initiatives and commitments. The goal is to align the boards on vision, values, and priorities to drive integration and performance.
Workshop to help brand leaders write brand plans that everyone in the organization can follow. Case Study, using fictional “Gray’s Cookies” brand to complete a Brand Plan, which is the final stage of our overall Beloved Brands planning process.
The document provides an overview of a brand strategy toolkit that is designed to help marketers and students create and implement effective brand strategies. It defines brand strategy as a plan to systematically develop a strong, coherent brand to enhance revenue and profits. The brand strategy process involves conducting a brand audit, analyzing the target market, developing brand elements, and creating an integrated communications strategy to ensure consistency across touchpoints.
Read our story on how to write a brand plan:
https://beloved-brands.com/2012/06/24/brand-plan/
Help for the Brand Manager with tips on how to write a brand plan, including vision, mission, strategies, tactics, execution, and the overall writing and flow of the plan.
We make brands stronger and brand leaders smarter. Here's how we can help:
1. We lead workshops to define your brand, helping you uncover a unique, own-able Brand Positioning Statement and an organizing Big Idea that transforms your brand’s DNA into a consumer-centric and winning brand reputation.
2. We lead workshops to build a strategic Brand Plan that will optimize your resources and motivates everyone that touches the brand to follow the plan.
3. We coach on Marketing execution, helping build programs that create a bond with your consumers, to ensure your investment drives growth on your brand.
4. We will build a Brand Management Training Program, so you can unleash the full potential of your Marketing team, enabling them to contribute smart and exceptional Marketing work that drives brand growth.
5. Our Executive Coaching program is designed to help Marketing Leaders get smarter, and then drive stronger performance on their brands. Executives can use their increased knowledge to help their own teams get smarter.
Project Proposal for Sales and Marketing Administration, Tea Operational Proc...Md. Mainul Islam
The purpose of these Projects to assess and evaluate the current retailer outlet profile and compensation processes and system capabilities to enable the development of a new department of Sales and Marketing Administration process utilizing retailer outlet information. Here we provided many database works which is able to convert by any category wise of FMCG products.
These projects will assist you to find out many difficulties, gap or pending what actually fall down sales growth, market share etc. So we hope these projects will provide many beneficial activities to get more market share, to created more plans, policies, techniques, strategies etc.
Sales Transformation: The Role of Sales Strategy & Operations, Dow Jones & Co...Innovation Enterprise
This document discusses the role of sales strategy and operations in transforming the sales process at Dow Jones & Company. It describes how the company was facing declining revenue and needed to improve sales productivity. A sales benchmarking analysis found the sales organization lagged world-class performance in key metrics like cost of demand generation and sales productivity per rep. A transformation agenda was created targeting improvements in structure, goals, skills, culture and processes. The role of the sales strategy and operations team is to lead initiatives to drive this change through activities like sales benchmarking, process improvements and aligning sales with product/marketing.
The SmartPlan360 ̊ Program is a strategic growth program for businesses that assesses organizations across six foundation areas: organization/management, products/services, sales/marketing, market/model, competition, and customers. It uses online assessments and executive interviews to evaluate how businesses are performing in 24 key areas within these foundations. The program provides a heat map that identifies problems and solutions, as well as strategic recommendations and a priority-ranked project runway to implement initiatives for top-line growth and bottom-line profits.
Rahul Sharma is seeking a challenging role in distribution business development and channel sales management. He has 3.6 years of experience in business development, sales, marketing, and relationship management. He is a result-driven professional who is skilled in executing strategies to increase business and revenue. Currently he works as an Area Sales Manager for Jaquar and Company, where he is responsible for achieving sales targets, developing dealers and staff, and maintaining relationships with channel partners. He holds a BE in electrical and electronics engineering.
This document discusses leveraging marketing automation to attract, sell to, and wow customers. It covers topics like the top 3 reasons small businesses fail at marketing, what lifecycle marketing is, lead scoring, segmentation and tagging, and the top 7 automation campaigns to run. It provides frameworks and emphasizes setting goals and clear strategies over information overload. It also discusses collecting visitor information, educating to sell more, making offers, closing more sales, creating a culture of wow, and growing the value of each customer.
Siddharth Sharma has over 6 years of experience in sales and business development. He has held roles such as Sales Officer and Territory Sales Incharge for companies like Hindustan Unilever Ltd and United Biscuits India. His key responsibilities included identifying prospective clients, managing distributors and channels, conducting training programs, and analyzing market trends. He holds an MBA in Marketing and Finance and is proficient in Microsoft Office applications.
The Updated Building Blocks of Sales Enablement 11-2019Mike Kunkle
This is what I call the building blocks of sales enablement. The advice in this presentation can help you start or evolve a sales enablement practice in your company,
The document provides an overview of marketing plan preparation and customer analysis. It defines a marketing plan as a blueprint that outlines a company's advertising and marketing efforts for the coming year. The importance of marketing plans is that they create guidance, clarify the target market, help with decision making, and allow for forecasting and understanding competition. Preparing a marketing plan involves market research, analyzing competition, developing marketing strategies and goals, creating a budget, and monitoring results. Customer analysis involves understanding who the customers are, where they make purchases, when they purchase, what they do with the product, and why they select certain products using a 5W model. It also discusses analyzing competitors' strengths, weaknesses, and threats using SWOT and PEST
This document provides guidance on developing a business plan, including defining what a business plan is, its key components, and how to present it to potential investors. It explains that a business plan is a written document that describes a new business, including its goals, operations, market analysis, and financial projections. The document outlines the typical sections of a business plan, such as the executive summary, company description, marketing plan, and financial projections. It also provides tips for presenting the business plan, recommending a 12-slide PowerPoint presentation that covers the problem, solution, opportunity, competition, management team, and financing request. The intended learning outcomes are to enable students to develop and outline an effective business plan and presentation for potential investors.
Consulting in International( and domestic ) Business strategy:
- Provides comprehensive diagnostics through observation and dialogue to assess organizational health and identify red flags.
- Develops monitoring systems to track progress and make course corrections to strategy execution.
- Brainstorms best and worst case scenarios to arrive at likely strategies based on frameworks like McKinsey 7s.
- Crafts detailed plans for the next 9 days, 90 days, and 900 days with defined review processes and stretch targets.
- Plans for new initiatives, market consolidation, and professional development to guide organizations from launch to maturity.
Catalog Marketing 101 - Overview and E-Commerce Synergy
This is the first tutorial in the Catalog Marketing 101 Workshop. This section is an overview of catalog marketing and also the synergy between catalog marketing and e-Commerce. The section begins with developing the go-to-market strategies for your catalog and developing your business and marketing plans. It also addresses the whole area of catalog, e-Commerce synergy.
To download visit http://www.dwsassociates.com/marketing-tools/whte-papers-tutorials/tutorials/catalog-marketing-101/
MHR Analytics Summit 2018 | Using Data to Improve Employee Performance - Max ...MHR Analytics
MHR Analytics is committed to helping every organisation use this mass of data to obtain actionable insights for real growth. Learn more about using data to improve employee performance from Max Blumberg of the Blumberg Partnership, workforce, Salesforce and analytics advisor.
Tailored solutions designed to improve value for our clients, enabling them to capture unmet opportunities, deliver sustained change and transformation
Allocadia Webinar: Looking Forward & Back in Marketing PerformanceAllocadia Software
Don’t go into your next planning & budgeting cycle without insight into your marketing performance — both past and future.
Planning and budgeting season is almost here. Many organizations simply pull out last year’s plans and tweak them… but without factoring performance into the planning cycle, big opportunities can be missed.
Performance metrics can radically transform your marketing organization:
-- With marketing plans driven by past performance data, you’ll reduce costs and drive more revenue, since you’ll be investing more in the programs that really move the needle.
-- With meaningful, achievable forward-looking performance targets, you’ll bring your team into closer alignment and set them up to be more successful.
So why don’t more marketers do this? Performance measurement is complex. Metrics can be spread across siloed systems, and various parts of the business can define success in different ways. And what do you do with the data once you get it?
This webinar provides perspectives, tools and best practices for measuring your past performance so you can revitalize your budgets and plans for next financial period. We also discuss how to set meaningful performance targets for the year ahead.
Catalog Marketing 101 - Catalog Management, Financials & Analytics
This tutorial will walk you through the process of developing and using tools for managing, tracking and analyzing catalog performance. The analysis is key to fine-tuning and improving catalog results. Breaking down a catalog's performance at the end of the promotion cycle is one of the most important exercises you should perform. It is the activity that can provide you with a framework and direction for future catalog planning. In this tutorial you will learn what the key catalog performance measures and elements of catalog financial management are and how to use them. It shows you what needs to be analyzed and what are the key catalog analysis data requirements. It's an excellent "how to guide."
To download visit http://www.dwsassociates.com/marketing-tools/whte-papers-tutorials/tutorials/catalog-marketing-101/
Alex Shipillo - Director of Demand Generation, Influitive
Circulate Conference - April 11, 2016
W Hotel, San Francisco
Absract:
The role of marketing in B2B organizations is changing rapidly. Find out the secrets to building a strong foundation for data-driven marketing. Then, learn how you can expand beyond that baseline to drive better communication, transparency and ultimately, change across the revenue team. Alex will share how Influitive has built the marketing processes that have enabled 10x growth over the last two years.
http://alexshipillo.com/speaking
http://circulateconference.com
Best Practices of World-Class Sales Organizations and their performance against Key Performance Metrics; Data for specific industry segments is available; call or eMail Medio Waldt, 610 659 3489, medio.waldt@millerheimangroup.com
This presentation discusses the "Challenger Sale" approach to sales based on research from CEB and the book "The Challenger Sale". It found that customers have changed how they buy, the sales experience drives 53% of customer loyalty, and high performing "Challenger" sellers have certain skills. These sellers challenge the status quo through hypothesis-based selling, tailoring their message, and taking control of the sales process while respecting the customer. The presentation provides an overview of the Challenger profile and strategies for organizations to develop Challenger selling capabilities.
Catalog Marketing 101 - Merchandising
Some would have you believe that catalog merchandising has changed a lot since we've entered the digital age. But, the fact is that merchandising a catalog is the same today as it was before we entered the big data, or data overflow age. Merchandising has always been based on a healthy dose of data analysis, Today, we may have more and faster access to data related to product sales, but the processes and practices have not changed. But, one thing you need to keep in mind is that merchandising a catalog is very different from merchandising a store or e-Commerce website. How you merchandise a catalog is affected not only by the type of catalog. Is it B2B or B2C or both? Is it part of a multi-media, multi-channel strategy? Is it meant to drive retail sales or direct sales? The list of factors goes on. In this tutorial, you will learn how catalog merchandising differs from other types of merchandising, what makes a successful catalog product, the importance of developing a coherent merchandising strategy and other important factors involved in successfully merchandising a catalog.
To download visit http://www.dwsassociates.com/marketing-tools/whte-papers-tutorials/tutorials/catalog-marketing-101/
Catalog Marketing 101 - Operations & Fulfillment
If you can't take the order, ship the order, manage the inventory, and give your customers good customer service, then your catalog is going to fail. Catalog operations and fulfillment are not the sexy part of catalog marketing, but they are as necessary as breathing. It is the most important part of your catalog business. Without it, all the marketing in the world is not going to save your business. Mess it up and your customers will simply not comeback. We'd like to believe that we are the only game in town, but when it comes to products, most can be purchased somewhere else. If it's a new customer, making their first purchase, you get only one chance. This section of the Catalog Marketing 101 tutorial walks you through every step of the fulfillment process and the things you need to know to run a successful catalog operation. As a marketer, you are probably more interested in the creative side of the catalog business, but this will make or break a catalog, so you need to know what is involved even if you're not the person ultimately responsible for operations and fulfillment. This tutorial will help you do that.
To download visit http://www.dwsassociates.com/marketing-tools/whte-papers-tutorials/tutorials/catalog-marketing-101/
Catalog Marketing 101 - Catalog Production
This tutorial will expose you to the most important steps involved in catalog production from planning to design, printing and finally mailing. The production process is affected by the type of catalog...B2C or B2B, the size of the catalog in terms of dimensions and numbers of pages, how the catalog will be printed, assembled and distributed. All of needs to be tied into a well detailed production plan and schedule. This tutorial will walk you through all of the important steps and things you need to consider. If you're new to catalog production or this is your organization's first catalog, it's a good step-by-step guide. If you're an experienced cataloger, you can use it as a refresher and checklist of the things that you need to constantly stay on top of in the process. All of the other factors that go into making a successful catalog, mean nothing if the final product (catalog) doesn't meet your and your customers expectations or the book is not mailed and delivered on time. This tutorial will help you manage the entire process.
To download visit http://www.dwsassociates.com/marketing-tools/whte-papers-tutorials/tutorials/catalog-marketing-101/
Catalog Marketing 101 - Catalog Copy
In this tutorial, you will learn what makes effective catalog copy and the important guidelines for writing catalog copy. Catalog copy has to sell. Once the product picture draws the readers attention, the copy is the deal closer. You not only have to know "word that sell," but you have to know all of the rules for writing copy. There are also differences between writing B2C and B2B catalog copy. The tutorial gives you checklist to make sure you are writing the most effective copy you can to help sell your products.
To download visit http://www.dwsassociates.com/marketing-tools/whte-papers-tutorials/tutorials/catalog-marketing-101/
Catalog Marketing 101 - Creative & Design
It's not creative unless it sells. It may not be the mantra of artists, but it'd better be the mantra of every creative / designer that works on a catalog. The design of a catalog must be focused on generating sales. And, the marketing and creative teams must work together with the same goals of maximizing sales and profits, and the long term growth of the business.
This tutorial walks you through the catalog creative and design process. The creative and design process begins with deciding what type of catalog you're doing. Is it a consumer or business to business catalog? Then from there, the types of products and number of products drive many of the decisions around creative and design. Will this be a consumer catalog or a B2B (business to business) catalog? How many products will be in the catalog; how many per page? What kinds of products? How do you want the catalog to be positioned? These are just some of the questions that this section of the tutorial addresses. Use it as a guide and checklist and it will help you on your way to building a successful catalog.
To download visit http://www.dwsassociates.com/marketing-tools/whte-papers-tutorials/tutorials/catalog-marketing-101/
This document outlines key steps for developing a successful direct marketing plan. It emphasizes the importance of thoroughly addressing major plan elements in strict sequence, such as identifying objectives, obstacles, strategy, tactics, and financial projections. It also stresses the need to conduct predictive yield analysis and review the entire written plan with various stakeholders. Following the outlined 10 key questions can help guide the development of an effective direct marketing plan.
DWS Associates created SalesGen 2020 based on our decades of experience in developing and directing marketing and sales best practices for highly successful marketing and sales organizations. This process increases sales, conversion and retention rates, referrals and other key metrics by leveraging your current resources - in other words, SalesGen 2020 help you sell more while spending less.
The document discusses various aspects of direct marketing creative design including media formats, copywriting, and package design. It provides tips for designing direct mail packages to maximize response rates such as writing personalized letters that answer prospect questions, using brochures and reply devices to reinforce the offer, and designing eye-catching envelopes that intrigue recipients into opening the package. The document also covers developing creative briefs and copywriting best practices like focusing on benefits and inciting immediate action.
This document provides an overview of key concepts in direct marketing, including database marketing, analytics, and testing. Some key points covered include:
- The importance of having customer and prospect data to achieve relevance in direct marketing.
- Types of database marketing include conquest, up-sell/cross-sell, frequency and loyalty, and advocacy marketing.
- Analytics involve measuring metrics like response and conversion rates to evaluate campaign performance.
- Testing different creative elements, offers, packages and audiences is important to optimize direct marketing campaigns. Sample sizes need to be large enough to draw meaningful conclusions from tests.
The document provides an overview of direct marketing strategies and planning. It discusses developing objectives and strategies, selecting target audiences, choosing media and mailing lists, creating campaign tactics, and evaluating results. Key aspects include determining objectives and budgets, selecting appropriate lists and media channels, and analyzing the performance of campaigns after completion.
The document provides an introduction to direct marketing, including:
1) Defining direct marketing as an interactive system that uses advertising media to effect a measurable response or transaction.
2) Explaining that direct marketing requires a customer database to record information, measure results, and continue communications.
3) Detailing the advantages of direct marketing such as being measurable, targetable, personal, and not requiring physical retail space.
DWS Associates: Introduction to Colleges and UniversitiesDWS Associates
DWS Associates provides strategic marketing services to help colleges and universities attract and retain successful students. They conduct audits of enrollment processes, analyze data, and develop action plans with recommendations to improve recruitment and retention. Their services have helped clients increase enrollment numbers and revenue through improved marketing campaigns and operational efficiencies.
Blogs: What are they (and why should you care!?)DWS Associates
Blogs are personal journals on the web that cover many different topics and opinions. Some blogs are highly influential with large readerships, while others are intended for close friends and family. To start a successful blog, one should choose a niche topic, decide on a name and hosting platform, create accounts, and begin regularly posting content to attract readers over time. Popular corporate and higher education blogs provide examples of large-scale blogging.
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Top 10 Free Accounting and Bookkeeping Apps for Small BusinessesYourLegal Accounting
Maintaining a proper record of your money is important for any business whether it is small or large. It helps you stay one step ahead in the financial race and be aware of your earnings and any tax obligations.
However, managing finances without an entire accounting staff can be challenging for small businesses.
Accounting apps can help with that! They resemble your private money manager.
They organize all of your transactions automatically as soon as you link them to your corporate bank account. Additionally, they are compatible with your phone, allowing you to monitor your finances from anywhere. Cool, right?
Thus, we’ll be looking at several fantastic accounting apps in this blog that will help you develop your business and save time.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
1. MMaarrkkeettiinngg PPllaannnniinngg 110011
WWoorrkksshhoopp
Creating a Winning
Marketing Plan
…The Fundamentals &
More
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2. TTaabbllee ooff CCoonntteennttss
• Overview of Marketing
• Market Planning Process
• Marketing Communications
• Marketing Budgets and Forecasts
• Writing the Marketing Plan
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3. IInnttrroodduuccttiioonn
• "K.I.S.S." ...This program introduces a simplified, straight-forward
approach to the process of developing and
implementing marketing plans.
• It is intended as both an introductory and refresher course for
marketing executives.
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4. WWoorrkksshhoopp OObbjjeeccttiivveess
• To improve your knowledge of the market planning process.
• To give you a set of tools which will help you design,
implement and track your marketing plan.
• To give you a better understanding of marketing
communications and how to use it in supporting your
marketing plan.
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5. WWhhaatt yyoouu wwiillll lleeaarrnn
• How to write an actionable targeted marketing plan.
• How to develop your expenses and sales budgets.
• How to develop your Marketing communications strategy and
Marketing communications mix.
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8. WWhhaatt tthhee pprroossppeecctt iiss tthhiinnkkiinngg……
• You don't know me.
• You don't know my company.
• You don't know my company's
business.
• You don't know my needs and
requirements.
• You don't know where I buy.
• You don't know my buying
process.
• Now -- what was it you wanted to
sell me?
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9. WWhhaatt iiss MMaarrkkeettiinngg??
• Marketing is the sum of all activities involved in the chain of
moving products from the producer to end-user.
• It includes market research, product and positioning strategy,
pricing, packaging, distribution, promotion, sales, etc.
• The purpose of marketing research is to find out who wants or
needs your product and under what conditions will they buy it.
• Then marketing strategy can be formulated to meet the needs
of the target market.
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10. HHooww ddoo ssaalleess aanndd mmaarrkkeettiinngg ddiiffffeerr??
• Marketing is inclusive of sales and deals with the overall
product/service offering - its conception, development,
packaging, positioning, pricing, distribution, and promotion
(including sales) in the market.
• The sales force, working inside the firm or out in the field,
take the product/promotion package and customer information
provided by marketing and actually sell the product, either in
person, via telephone, or the web.
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11. AA mmaarrkkeettiinngg ppllaann ddooeess tthhee ffoolllloowwiinngg
• Evaluates firm mission and vision for relevance/currency.
• Checks firm strengths and weaknesses.
• Checks environmental opportunities and threats.
• Focuses on strategic target markets and their underlying needs.
• Sets sales and marketing objectives for chosen segments.
• Defines strategies, tactics and programs.
• Sets sales and expense budgets.
• Assigns marketing functions, responsibilities, and timelines.
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12. WWhhyy hhaavvee aa mmaarrkkeettiinngg ppllaann??
• A marketing plan provides a stable base from which your company can
enter the competitive marketplace.
• Marketing is expensive requiring a great deal of organization and
coordination of activities for programs to work.
• To facilitate company wide buy-in, participation and support.
• It serves as a benchmark for establishing concrete objectives, strategies and
tactics.
• It’s a record for learning.
• It minimizes surprises…you enter the marketplace with your eyes wide
open.
• It tells everyone where you are going and prevents second guessing and
confusion in the organization
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13. MMaarrkkeettiinngg ssuucccceessss ddeeppeennddss oonn……
• Having more knowledge about your customers and prospects
than your competition.
• Having a well thought out, actionable plan.
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14. WWhhyy hhaavvee aa mmaarrkkeettiinngg ppllaann??
To facilitate execution of strategy by the marketing/sales team in
order to…
– Increase sales from existing customers
– Acquire new customers
– Find new market opportunities
– Add new strategic partners
– Add new sales channels
• Resellers and Representatives
• Value-added Resellers
• Partners and Co-Branding
• Joint Ventures
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17. SStteeppss iinn pprroocceessss
• Step 1 – analyze opportunities and set objectives
– The Four "Ps" -- What do you have to offer, etc. ...
– S.W.O.T.
• Firm’s internal strengths and weaknesses
• Internal and external environmental factors impacting your business
• Industry analysis -- Where's the industry going ...
– Set your marketing objectives.
• Step 2 – define your target market(s)
– Starting point - successful marketing plans begin with market focus.
– Consider many segments, but select your primary target markets.
– The target market defines the market need and product offering.
• Step 3 – set your marketing strategies
– Target market
– Target market needs
– Target market offering
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18. SStteeppss iinn pprroocceessss ((ccoonntt’’dd))
• Step 4 – set your marketing tactics
– What are your going to offer the target market?
– What and how are you going to tell the target market about this offer?
– How are you going to distribute this offer to the target?
– What will be your pricing strategy?
• Step 5 – define your supporting marketing programs
– Programs provide the specifics of implementation
• Step 6 – implementation
– The goal of planning is implementation.
– The key to implementation is management.
– To measure the success of a marketing plan, you need to be able to
control and track the activities and results of those activities.
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21. Foundation ooff mmaarrkkeettiinngg ppllaann
• Market analysis is most difficult to do, but you have to get it right or everything
else falls down.
• You need to be specific and you need to narrow your focus to the audience that will
be more likely to buy from you…note everybody.
• One way to find out who is likely to buy your product is to look at who has bought
from you and your business partners in the past.
• When you're developing a target marketing plan, the question gets down to how
finely do you need to target a given market to be effective and that depends on
revenue potential and whether you can reach and service that market cost
effectively.
• The number of segments you identify is a function of the cost structure of the
company, the commonality of demand in the segments for specific products and
services, and the number of potential customers in each resulting segment.
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22. SSeeggmmeennttiinngg yyoouurr mmaarrkkeett
• Markets can be segmented lots of different ways.
• Differences might be: demographics, psychographics,
life-styles, price-sensitivity, service needs, product
features, etc.
• The questions you have to ask yourself when
developing your plans are:
1) Are the differences identifiable, measurable and a reason
for varying the marketing and promotional mix?
2) Do the segments respond differently to variations in the
marketing/promotional mix?
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23. EExxaammpplleess ooff sseeggmmeennttaattiioonn
• Consumer Markets:
– Age: Under 18, 18 – 24, 25 - 34, etc.
– Sex: Males, females
– Income: Under $25K, $25 – 49K, $50K+, etc.
– Ethnicity: Caucasian, African, Hispanic, Asian, etc.
– Purchase history: triers, non-triers, heavy vs. light users, etc.
• Industrial Markets:
– Product: "PCs, mini computer, main frames..."
– Industry: "Retail, construction, manufacturing..."
– Applications: "Financial, CAD/CAM, Facility operations..."
– Customer: "Accounts, Engineers, IS managers..."
– Geographic: "U.S., Canada, Mexico..."
– Combinations of the above
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24. SSeettttiinngg ttaarrggeett mmaarrkkeettss
• Who are they?
• Where are they?
• Do they have sufficient size?
• What do they need?
• How do they buy?
• Can you reach them with your marketing and sales messages?
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25. MMaarrkkeett aannaallyyssiiss –– kkeeyy ccoommppoonneennttss
• Market segment definition
• Company analysis
• Needs and requirements
• Distribution channels
• Competitive forces
• Communications
• Keys to success
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26. MMaarrkkeett sseeggmmeennttaattiioonn ddeeffiinniittiioonn
• Define the name of the segment.
• Define the universe of potential buyers - market potential.
• Define growth forecast for total potential customers in the
segment.
• Define the average transaction value of sale and/or average
sales per year.
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27. CCoommppaannyy aannaallyyssiiss
• What are your strengths?
• What are your weaknesses?
• What are your company's objectives as they relate to this
target market?
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28. MMaarrkkeett nneeeeddss aanndd rreeqquuiirreemmeennttss
• Why do they need your product or service?
• What is going to make them buy?
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29. DDiissttrriibbuuttiioonn cchhaannnneellss
• Where do the customers go to fill their needs and
requirements?
• What is the channel of distribution for this customer segment?
• How are they different than for other segments?
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30. CCoommppeettiittiivvee ffoorrcceess
• What is the buying process for these customers?
• What are the key decision factors that make them choose one
vendor over another?
• Is it price, service, support, availability, quality, etc.?
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31. CCoommmmuunniiccaattiioonnss
• Where do members of this segment go for information?
• Where do you send messages so that the right customers will
find them?
• How do you create those messages so that they will generate
the right response?
• What kinds of information will be most effective?
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32. KKeeyyss ttoo ssuucccceessss
• Is price more important than features?
• Is ease of installation more important?
• Is ease of conversion and time of conversion most important?
• Is ease of use and learning most important, etc...?
(Remember: You need to determine what factors make the most
difference to success or failure of doing business with this
market segment.)
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34. SSttrraatteeggiieess && TTaaccttiiccss
Strategies Tactics
Strategies
Theoretical
Descriptive
General
Broad
Set of Guidelines
Operational
An Execution
Specific
Detailed
Implementation
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35. DDiiffffeerreennttiiaattiinngg ssttrraatteeggiieess aanndd ttaaccttiiccss
• What is a strategy?
– A marketing strategy is a statement describing the method of how a
marketing objective will be achieved.
– Example: We will grow sales by 5% by expanding the field sales force
from 20 to 25.
• What is a tactic?
– A marketing tactic sets the offer, the marketing message and the way it
should be transmitted.
– Example: We will focus on selling the Widget to existing company
accounts by having field sales reps offer free installation during the 3
month introductory period.
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36. Three mmaajjoorr ccllaasssseess ooff ssttrraatteeggiieess
• Market expansion - more fully penetrate existing market
• Market entry - penetrate new market
• Retrenchment
• Market entry strategy modes:
– Product development - new products, old markets
– Market development - new markets, old products
– Diversification - new product, new markets
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37. EExxaammpplleess
• Strategy:
– Reduce bad debts from 12% to 10% in the coming fiscal year.
– Reduce apparel returns from 20% to 10% in the coming fiscal year.
• Tactic:
– Use credit screening service to prescreen all lists during the coming
fiscal.
– Implement standard sizing practice and chart for all apparel.
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38. MMaarrkkeettiinngg mmaattrriixx
• Now we’re ready to talk
about the 3 components of
the marketing mix:
strategies, tactics, programs.
• Some educators combine
tactics within strategies and
programs become tactics.
• I like to keep them separate
to give you a clearer picture
of what you’re trying to
accomplish.
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39. SSttrraatteeggiieess bbeeggiinn wwiitthh mmaarrkkeett ffooccuuss
• Positioning is an important part of market focus.
• Positioning targets a product for specific market segments.
• The same product can be positioned in many different ways.
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40. PPoossiittiioonniinngg aa pprroodduucctt aannsswweerrss tthheessee
qquueessttiioonnss
• What kind of product is it?
• For whom is the product designed?
• What is the single most important benefit it offers?
• What is its most important competitor?
• How is it different from that competitor?
• What is the customer benefit of that difference?
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41. DDeevveellooppiinngg sseeggmmeenntt ssppeecciiffiicc ssttrraatteeggiieess
• You have defined your target markets focus and those
markets' needs.
• You have defined your overall offer and message.
• You are now ready to produce a statement describing the
method of how a marketing objective will be achieved.
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42. RReemmeemmbbeerr……yyoouu ccaann’’tt bbee aallll tthhiinnggss ttoo
aallll ppeeooppllee
• Focus on selected target markets…not all targets.
• Selected product offerings that appeal to target market needs
• Company strengths - play to your company strengths not
weaknesses
• Strategies that aren't focused won't work.
• Having too many is just as bad as having none.
• Try to keep them to an actionable number (3 - 4).
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43. DDeevveellooppiinngg sseeggmmeenntt ssppeecciiffiicc ssttrraatteeggiieess
• What is the marketing message?
• Align your message with your target's needs.
• How do you send that message to your target market?
• Where are they, what do they read, watch or listen to and how
do they respond?
• How do you convert leads into sales?
• How and where do they buy?
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44. EExxaammppllee:: aa mmaannuuffaaccttuurriinngg ssooffttwwaarree
ddeevveellooppmmeenntt ccoommppaannyy
• Objective
– Increase revenues by 15%.
• Strategy
– Position XYZ as the leading provider of information technology
solutions for the discrete and process manufacturing sectors.
• Tactics
– Broaden product/service line matrix to include ERP solutions for
mfgs.. in the $10 - 50 million revenue range.
– Develop PC based manufacturing solutions for small manufacturers.
• Programs
– Direct marketing campaign promoting solution to target market.
– Attending manufacturing trade shows.
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47. WWhhaatt iiss aa mmaarrkkeettiinngg pprrooggrraamm??
• A marketing program implements tactics.
• A marketing program is an activity with well-defined
responsibilities, deadlines and measurable results.
• A marketing program generally has budgeted expenses tied to
it.
• A marketing program generally has a concrete and
measurable outcome in sales units and value.
(Marketing programs don’t have to be media related. For example, conducting
customer needs assessment training for sales executives is a program.)
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48. KKeeyy ffaaccttoorrss iinnfflluueenncciinngg ddiirreeccttiioonn aanndd
pprroommoottiioonnaall ((MMaarrccoomm)) mmiixx
The mix of promotional activities is determined by seven central
factors:
1. What are you trying to accomplish?
2. The target market analysis
3. The marketing budget
4. What's the competition doing?
5. Product?
6. Media cost?
7. Timing?
(Your market analysis will suggest the best mix to reach the target audience. Your
budget will determine the total amount you can or should be spending on marketing
communications.)
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49. MMaarrkkeettiinngg pprrooggrraamm oobbjjeeccttiivveess
• What are you trying to accomplish?
– Generate sales
– Increase market share
– Improve brand image
– Improve customer relations
– Educate customers
(These are some examples. You have to decide what your objectives are and then you
can gear your communications towards reaching those objectives.)
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50. CCoommppoonneennttss ooff pprroommoottiioonnaall mmiixx
• Advertising
• Sales Force (Personal Selling)
• Sales Promotion (Internal & External)
• Public Relations
• Direct Marketing
• Trade Shows and Exhibitions
(Trade shows, Conferences and Exhibitions are considered part of Sales Promotion by
some marketers and educators, are often broken out into a separate category
because they are a primary tool in B-to-B marketing.)
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51. WWhhaatt iiss aa ccaammppaaiiggnn??
• A promotional program is integrated through a "campaign."
• A "campaign" is a unified, organized group of programs and
promotional messages that have one theme or central idea.
• Within a "campaign," you integrate the use of the various
promotional methods.
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52. AAddvveerrttiissiinngg
• Advertising is the creation and placement of paid messages to
inform potential customers and solicit sales of your product.
• It can be a more long term approach to increasing sales than
direct marketing, sales promotion, or personal selling.
• One-way communication vs. two-way of personal selling.
• It can be effective for wide target markets or narrow niches.
(Remember: The medium(s) you choose depends on creativity, budget, target market,
message, cost and response desired.)
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53. SSaalleess ffoorrccee ((ppeerrssoonnaall sseelllliinngg))
• Still the primary method of generating leads, closing sales and
servicing accounts.
• Face-to-face selling is being supplemented and/or being
replaced by telemarketing.
• Key issues include:
– Sales force training
– Sales force automation
– Provision of selling aids and materials
– Sales force incentives and compensation
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54. SSaalleess pprroommoottiioonn
• Supplements advertising, public relations and personal selling.
• External Objective – Motivate customers to buy now
• Internal Objective - motivate sales force to sell
• Includes: sales contests, premiums, coupons, trading stamps,
videotape presentations, POP displays, sampling, etc.
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56. PPuubblliicc RReellaattiioonnss
• Public relations is what you get others to say about you.
• It involves planting commercially significant news in the
media.
• It is a non-direct message about your company, product,
project or event.
• Because it appears written by others, it has great credibility.
• The goal of PR is to positively influence the marketplace
about your company and products.
• Examples include: sponsoring trade events, speeches, white
papers, newsletters, press releases.
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57. DDiirreecctt MMaarrkkeettiinngg
• Direct marketing uses direct mail or email media to generate
immediate, measurable, trackable results.
• It uses marketing databases to track responses and results at a
customer level.
• By using NAICS codes (formerly SIC), it allows the
placement of messages with highly targeted market segments.
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58. TTrraaddee sshhoowwss,, eevveennttss,, ccoonnffeerreenncceess
• Really a subset of sales promotion
• Still a significantly large part of marketing budgets and still an
effective way to reach your target audience.
• Reasons for participation:
– Connect with key media players and editors
– Evaluate competition
– Talk with customers and prospects
– Sell products
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59. SSaalleess CCoollllaatteerraall
• Written material that represents and explains your product to
potential customers.
• Includes any printed material that helps close a sale: data
sheets brochures, pamphlets, return cards, form letters, etc.
• Big issue here is consistency - all materials should be
integrated to have the same look and feel.
• Examples: white papers, e-Books, brochures, videos, CDs, etc.
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61. AAddvveerrttiissiinngg ddeecciissiioonn pprroocceessss
• Set specific advertising goals
• Determine target audience
• Establish budget
• Develop message
• Select the media type
• Select the specific media vehicles
• Determine media calendar
• Evaluate performance
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62. EElleemmeennttss ttoo ffooccuuss oonn wwhheenn sseelleeccttiinngg
mmeeddiiaa
• Advertising objectives
• Media circulation
• Media costs and budget
• Type of message that you will be conveying
• Timing
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63. TTyyppeess ooff aaddvveerrttiissiinngg
• Broadcast: Radio, TV
• Print: Newspapers, Magazines
• Electronic: E-mail, Banner Ads, SMS Text, etc.
• Supplements, Free Standing Inserts
• Direct Mail
• Coupon Packs, Card Decks
• Directories
• Telemarketing
• Outdoor: Billboards, Kiosks, Transit
(Remember: These are the media mix components. They need to be selected on the
basis of who you are trying to reach, what you are trying to accomplish and how
much you have to do it with.)
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64. TThhee aaddvveerrttiissiinngg ppllaann aannsswweerrss tthheessee
qquueessttiioonnss
• The media plan should be designed to expose your product to
the largest possible segment of your target market in the most
effective, efficient way. Answer these questions when
creating your media plan:
– Who do you want to reach (Right target, Missed anyone)?
– When do you want to reach them?
– Where do you want to reach them?
– How many of them do you want to reach?
– How frequently do you want to reach them?
– What media is best for reaching them?
– At what cost do you want to reach them?
– Are you spending enough in total and for each medium to be effective?
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65. MMeeddiiaa ssttrraatteeggiieess ttoo rreemmeemmbbeerr
• Select media with high specific market penetration.
• Schedule adequate frequency of advertisements to impact
target market.
• Position advertising in or near articles on industry, product
reviews, appropriate editorials, high visibility areas such as
front cover, center spread, above the fold, top of the email
messages, etc.
• Make use of special high-interest issues, programs, websites,
etc.
• Maximize ad life with frequent repetition…monthly, weekly,
daily, in selected media.
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66. MMaarrkkeettiinngg BBuuddggeett
Developing your
expense budget
and revenue
forecast
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67. BBuuddggeett ccoommppoonneennttss
• There are three components to a marketing budget
– Expenses
– Transactions (Closes)
– Revenues
• Each has three tracking components
– Plan
– Actual
– Variance
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68. MMaarrkkeettiinngg bbuuddggeett –– mmoorree tthhaann jjuusstt
aaddvveerrttiissiinngg eexxppeennssee
• Direct selling costs (salaries, commissions, travel,
entertainment)
• Indirect selling costs (training, selling aides, subscriptions,
dues)
• Advertising (print, direct mail, electronic)
• Sales promotion (trade shows, premiums, gifts, incentives)
• Public relations
• Marketing administration
(These are items typically include in the budget, but it is not a complete list.)
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69. SSeevveerraall wwaayyss ttoo bbuuiilldd aa bbuuddggeett
• From programs, work forward to projected leads, closes and
generated revenues.
• From revenues, work backwards to average transaction values,
to closes, to leads and programs to generate them.
(The preferred method is to start with revenues and work backwards. However, the
first method is often used when you have prior experience with expected response
and conversion rates.)
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70. BBuuiillddiinngg bbuuddggeett iiss aa 44--sstteepp pprroocceessss
The process of building a budget follows these steps:
1. Calculate transaction value & transactions
2. Calculate lead generation requirements
3. Determine lead generation tactics
4. Plan programs
(This method of developing budgets works whether you are talking about the entire
budget or a piece of it.)
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71. SStteepp 11:: CCaallccuullaattiinngg ttrraannssaaccttiioonn vvaalluueess
aanndd ttrraannssaaccttiioonnss
• Revenues by product or product category
• Most complicated
• Requires rolling up a product mix and then customer mix
calculation
• Revenues by customer
• Good starting point for developing overall budget especially if
programs and offers are not defined.
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72. SStteepp 22:: CCaallccuullaattiinngg lleeaadd rreeqquuiirreemmeennttss
• Straight forward mathematical calculation
• Start with revenue objectives - work backwards
• Based on inquiry to lead conversion rates
• General B-to-B formula
• Leads, Prospects, Hot Prospects, Closes
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73. SStteepp 33:: DDeetteerrmmiinnee lleeaadd ggeenneerraattiioonn
ttaaccttiiccss
• Where are the leads going to come from?
• Trade shows, Outbound telemarketing, Sales force, Business
partners, Direct response, etc.?
• Existing customers, new customers?
• This is the most important step in the process and the basis on
which you allocate your promotional budget.
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74. SStteepp 44:: DDeetteerrmmiinnee pprrooggrraammss
• What, how, where and when?
• Expenses associated?
• Revenues associated?
(This is the final step in developing the budget and the most detailed level.)
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75. PPuulllliinngg iitt aallll ttooggeetthheerr
The Written
Marketing Plan
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76. YYoouurr mmaarrkkeettiinngg ppllaann sshhoouulldd iinncclluuddee
• Target Market and segment strategies
• Who, how many, where ...
• The message
• The offering
• Segment Tactics
• Where, how, when to send the message
• Ads vs. PR vs. mail, etc. ...
• Specific Programs
• Budgets, milestones, managers, content, media specifics, etc.
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78. EExxeeccuuttiivvee ssuummmmaarryy aanndd oobbjjeeccttiivveess
• Summarize market strategy.
• Include highlights of expense budget and lead and sales
forecasts.
• State quantifiable and measurable marketing objectives.
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79. TTaarrggeett mmaarrkkeett iiddeennttiiffiiccaattiioonn aanndd
aannaayyllssiiss
• Summary
• Market definition and segmentation
• Segment strategy
• Segment analysis
– Demographics
– Needs and requirements
– Distribution channels
– Competitive forces
– Communications
• Keys to success
(Remember: This section is repeated for each identified target market.)
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81. FFiinnaanncciiaall ssuummmmaarryy
• Include summary and detailed analysis of expense budget,
lead generation forecasts and sales forecast.
• By program type
• By product
• By market
• By manager
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82. FFiinnaanncciiaall ssuummmmaarryy ((ccoonntt’’dd))
• Expenses
– Explain why the budget falls into different types of expenditures.
Which are most important, and why.
– Explain why and how the budget is allocated to the different product
lines. Make sure it matches your strategic focus.
– Show how budget allocations follow your strategy emphasis in certain
market segments. Do you have strategic alignment?
– Explain how the budget is managed and by whom.
• Revenues
– Use introductory paragraph to summarize the key elements of the sales
forecast. Highlight the products, markets, or managers expected to
produce highest sales or highest sales growth.
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83. OOrrggaanniizzaattiioonnaall ppllaann
• Cover organizational structure required to meet objectives.
• Identify personnel and training requirements.
• Cover related expense budgets and sales quotas.
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84. CCrriittiiccaall iissssuueess
• Discuss critical issues which have a direct impact on achieving
the objectives in the plan.
• List action points.
• Summarizes any risks.
• Request additional resources.
• Summarize conclusions.
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85. KKeeyyss ttoo aa bbeetttteerr mmaarrkkeettiinngg ppllaann
• Should be practical, concrete.
• Contain concrete programs with measurable objectives.
• Should assign tasks to people or departments with milestones
and deadlines for tracking implementation.
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87. TThhee ggooaall ooff ppllaannnniinngg iiss iimmpplleemmeennttaattiioonn
• A plan is as good as implementation.
• Most important element in implementing a plan is following
up on it's built-in steps.
• Following up and tracking plan vs. actual results is crucial to
the success.
• Another essential element is having all marketing activities or
tools responsibilities clearly assigned.
• A useful marketing plan must be a live plan.
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88. IImmpplleemmeennttaattiioonn
• Keys to implementation
– Is the plan simple?
– Is the plan specific?
– Is the plan realistic?
– Is the plan complete?
• Key factors that will determine the level of implementation
– Realism
– Ownership
– Tracking and follow-through
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91. MMaarrkkeettiinngg ppllaann ppyyrraammiidd
• At the top of the pyramid are the marketing objectives.
• Next are the strategies, which include: markets, needs,
offering, etc.
• Then come the tactics, which include: messages, media,
channels, etc.
• And finally come the programs, which include: advertising,
direct mail, brochures, displays, seminars, trade shows,
promotions, press releases, etc.
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92. TTaaccttiiccss aanndd pprrooggrraammss ccaann ssuuppppoorrtt
mmoorree tthhaann oonnee sseeggmmeenntt
(Remember: Tactics and programs can support the marketing
strategies for more than one target market segment.
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93. RReemmeemmbbeerr
• The target market defines the market need and product or service offering.
• Focus on markets and niches:
– Marketing strategies need to focus on market segments and niches within those
segments, not products.
• Strategy:
– A well-implemented, mediocre strategy is better than a brilliant strategy not
implemented.
• Implementation:
– A plan won't be implemented unless specific responsibilities are assigned to
specific people...
– Milestones are established and agreed upon...
– And the people responsible know that someone will follow-up to check on
results.
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94. SSuummmmaarryy:: wwhhaatt wwee hhaavvee ccoovveerreedd
• Marketing as a Concept
• The Market Planning Process
• The Role of Marketing Communications
• Developing Marketing Budgets and Forecasts
• Format of the Marketing Plan
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A marketing plan provides a stable base from which your company can enter the competitive marketplace. Effective marketing is a key to running a successful business and consistency, clarity and goal orientation in your marketing activities are very important.
Marketing is one of the most expensive and complicated components of business. Most marketing activities, programs once set in motion are hard to stop or turnaround. There needs to be a great deal of organization and coordination of activities for programs to work. Example: advertisement with 800 number where the people answering the phone don't know anything about the advertisement.
Company wide buy-in, participation and support - with a plan everyone who is involved indirectly or directly in the marketing process knows their role. E.g. - if you want the product people to buy-in, show them the numbers you are expecting to move of their product. Also tells them what they have to do.
A comprehensive marketing plan serves as a benchmark for your company by establishing concrete objectives, strategies and tactics.
It minimizes surprises...you enter the marketplace with your eyes wide open to possibilities and problems.
Probably most important, it tells everyone where you are going and it prevents second guessing and confusion on the part of supporting departments and outside vendors -- i.e. ad agencies, etc.
It means understanding ...
The people who make up your target market(s).
Their needs - products, services and buying preferences.
Where, when and how to reach them with your marketing messages.
Market analysis is the foundation of the marketing plan.
This is perhaps the most difficult thing for any business to do. You have to get this right or everything else falls down from here including your promotional plan.
You need to be specific and you need to narrow your focus to the audience you are trying to sell. Sure everyone might need your products or services, but certain groups will be more likely to buy them.
One way to find out who is likely to buy your product is to look at who has bought it in the past. This applies not only to your products, but your business partner’s products and services as well.
When you're developing a target marketing plan, the question gets down to how finely do you need to target a given market to be effective. The answer depends on revenue potential and whether you can reach and service that market cost effectively.
The number of segments identified in a market is a function of the cost structure of the company, the commonality of demand in the segments for specific products and services, and the number of potential customers in each resulting segment.
Markets can be segmented lots of different ways.
Differences might be: price-sensitivity, service needs, product features, etc.
The questions you have to ask yourself when developing your plans are:
1) Are the differences identifiable, measurable and a reason for varying the marketing and promotional mix?
2) Do the segments respond differently to variations in the marketing/promotional mix?
To develop effective tactics to reach a group of customers, you need to as much as possible about them.
What factors make the most difference to success or failure of doing business with this market segment?
Example:
Strategy:Reduce bad debts from 12% to 10% in the coming fiscal year.
Reduce apparel returns from 20% to 10% in the coming fiscal year.
Tactic:Use credit screening service to prescreen all lists during the coming fiscal.
Implement standard sizing practice and chart for all apparel.
Very important that we not get these confused.
Three major classes of strategies:
Market expansion - more fully penetrate existing market
Market entry - penetrate new market
Retrenchment
Market entry strategy modes:
Product development - new products, old markets
Market development - new markets, old products
Diversification - new product, new markets
We've now discussed market analysis and segmentation and are ready to move on to talking about developing the three components of the marketing matrix; strategies, tactics and programs.
Some marketing educators and professional combine tactics within the strategy and programs therefore become their tactics. I like to keep them separate because it gives you a clearer picture of what you are trying to accomplish.
Developing strategies is the most creative, innovative phase of planning.
We've now discussed market analysis and segmentation and are ready to move on to talking about developing the three components of the marketing matrix; strategies, tactics and programs.
Some marketing educators and professional combine tactics within the strategy and programs therefore become their tactics. I like to keep them separate because it gives you a clearer picture of what you are trying to accomplish.
Programs don't have to be media related. For example, customer needs assessment training for sales executives is a program.
The mix of promotional activities that you use is determined by seven central factors.
Your market analysis will suggest the best mix of marketing communications tools to reach the target market.
Your budget will determine the total amount you can or should spend on marketing communications.
These are just some examples.
You have to decide what your objectives are and then you can gear your communications towards reaching those objectives.
Trade shows, considered part of Sales Promotion by some marketers and educators, are often broken out into a separate category because they are a primary tool in B-to-B marketing.
The medium(s) you choose depends on creativity, budget, target market, message, cost and response desired.
These are the media mix components. They need to be selected on the basis of who you are trying to reach, what you are trying to accomplish and how much you have to do it with.
The media plan should be designed to expose your product to the largest possible segment of your target market in the most effective, efficient way.
You should answer these questions when creating your media plan:
Whom do you want to reach?
Is this the right target?
Have you missed anyone?
When do you want to reach them?
Where do you want to reach them?
How many do you need to reach?
How frequently do you need to reach them.?
What media provide the best environments and conditions under which to reach the prospects?
At what cost do you reach the prospects?
Are you spending enough in total and for each medium to be most effective?
Are you considering your competitions' activity in the various media?
These are items typically included in the budget, but it is not a complete list.
The preferred method is to start with revenues and work backwards. However, the first method is often used when you have prior experience with expected response and conversion rates.
The process of building a budget follows these steps:
Determine average transaction value on a customer or product basis. Calculate the net number of transactions required to hit your revenue target.
Calculate the net number of leads required to hit your closings target.
Select channels based on your lead generation requirements. We're talking where the leads come from, not where the sales occur.
Select programs to generate leads based on channel requirements.
This method of developing budgets works whether you are talking about the entire budget or a piece of it.
This is the final step in developing the budget and the most detailed level.
This section is repeated for each identified target market.
Financial Summary - Expenses and Revenues
Includes tables and charts from marketing plan spreadsheets.
Expenses
Explain why the budget falls into different types of expenditures. Which are most important, and why.
Explain why and how the budget is allocated to the different product lines. Make sure it matches your strategic focus.
Show how budget allocation follows your strategy emphasis in certain market segments. Do you have strategic alignment?
Explain how the budget is managed and by whom.
Revenues
Use introductory paragraph to summarize the key elements of the sales forecast. Highlight the products, markets, or managers expected to produce highest sales or highest sales growth.
At the top of the pyramid are the marketing objectives.
Next are the strategies, which include: markets, needs, offering, etc.
Then come the tactics, which include: messages, media, channels, etc.
And finally come the programs, which include: advertising, direct mail, brochures, displays,
seminars, trade shows, promotions, press releases, etc.
Tactics and programs can support the marketing strategies for more than one target market segment.