Submitted by: Submitted by ynah012
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Category: Business and Industry
Date Submitted: 10/13/2014 08:25 PM
MARKETING PLAN
OVERVIEW
This lecture will apprise the students regarding the methods to make a successful marketing
plan. This will cover various avenues of marketing plan different required analyses identify
various situations and their elements. The marketing goals and objectives will be explained and
in this aspect marketing and financial objectives will be discussed and explained.
HOW TO MAKE A SUCCESSFUL MARKETING PLAN:
The key component of a business plan and required advertising strategy demands a marketing
plan. Every business large or small can only be successful with a good marketing plan which
summarizes the who, what, where, when and how much questions of company marketing and
sales activities for the planning year. Following are the questions which need answers.
1. Who are our target buyers?
2. What unique position do we have in the market?
3. Where will we implement our marketing spending plans?
4. When will market spending plans occur?
5. How much sales, spending & profits will we achieve?
It is the marketing plan that details on the basis of the questions above as to who are your
buyers and what is the position of your company and then in a marketing plan where in it has to
be determine when expenditures will be made, what level of sales will be achieved and how
and when advertising and promotional expenditures will be made. From here onwards
discussed below are the major elements of a marketing plan.
a.
Situational Analysis:
The primary purpose of situational analysis in a marketing plan is to describe what is
happening in the markets in which the company competes and the company's product and
distribution trends. In this perspective following are the questions to be tackled.
1. What is happening in the markets where company competes?
2. What are the company's products & distribution trends?
3. What are the product trends & your company's distribution channels description?
b.
Macro Environment Situation:...