Creating a Marketing Plan
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The document outlines a strategic marketing framework that includes situation analysis, objective setting, budgeting, and executing marketing strategies. It emphasizes the importance of developing SMART objectives, allocating budget effectively, and measuring program effectiveness through various methodologies. Key considerations include understanding market dynamics, competition, and evaluating performance through tracking and surveys.
Creating a Marketing Plan
- 2. Provide sense of purpose and direction Creates benchmarks Provide focus Finds opportunities Helps anticipate market movement Guide to implementation and control
- 3. Step 1: Situation Analysis Step 2: Objectives Step 3: Budgeting Step 4: Strategies and Tactics Step 5: Coordination Step 6: Measure Effectiveness Step 7: Evaluation
- 4. Local Marketing Analysis Identification of Target Groups Identification of potential impression areas Segmentation & Positioning Competition - Leaders & Followers Strengths & Weaknesses Opportunities & Threats Value Proposition
- 5. Objectives should be SMART S pecific M easurable A ttainable R ealistic T ime-limited
- 6. Try to get the budget to meet your plan and not a plan to meet your budget Develop a plan, then revise if needed Remember the power of frequency when budgeting Setting your budget as a percentage of sales is a good place to start and ramp up from there The “back-in” approach
- 7. Specification & Management of Program Elements Advertising Education / Seminars Referral Program Social Guerilla Promotional Activities Partnerships Public relations
- 8. Achievement of proper balance between program elements - Marketing & Media Mix Scheduling of execution Utilization of personnel and outside services Revise budgets UP / DOWN
- 9. Effects to be measured: Awareness - Aided & Unaided Interest Recognition Recall Attitude change Increase in appointments and closing ratios Methodologies: Tracking - New clients, New business, New Partnership, All New Business Activity Surveys Media audits
- 10. Post mortem At end of set time period, asses No earlier and no later Assessment of accountability Work with each contributor Did we do the right things? How can we expand on these things Did we do the wrong things? How can we minimize these things