HS Marketing-Marketing Plan

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HS Marketing-Marketing Plan Powered By Docstoc
					Unit Test is all Quiz Lessons combined
            in random order.
Creating and Implementing
     a Marketing Plan
      Ryan Contreras, M.A.
     Educational Transfer Plan
       Special thanks to Cassatt Corporation
                                                                  Table of Contents


                              Marketing is…
…associated with identifying the particular wants
  and needs of a target market of customers.
…this involves doing market research on
  customers, analyzing their needs, and then
  making strategic decisions about product
  design, pricing, promotion and distribution




Creating and Implementing a
Marketing Plan                  IISME Educational Transfer Plan
                                                                   Table of Contents

                        A Target Profile is…
                                                                       Income
                                                   Age




                                                                          Political
                                                                          Trends

                                                        Location




 •Know your Audience.
                                                                        Organized
 •Remember that you are selling to people.                               Groups

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                              Table of Contents

                                  Table of Contents
       These slides can be used for a stand alone presentation or as a self taught unit.


•    Learning Objectives
•    Lesson One: Research
•    Lesson Two: Marketing Mix
•    Lesson Three: Marketing Plan
•    Lesson Four: Selling Your Product



                                                                         • Vocabulary
                                                                        • Study Guide
    Creating and Implementing a
    Marketing Plan                    IISME Educational Transfer Plan
                                                                Table of Contents


                         Learning Objectives
     Students learn marketing vocabulary and
     concepts.
     Students learn the importance of having a
     Marketing Plan.
     Students will create their own Marketing Plan.
     Students make decisions based off of their new
     knowledge and research.

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
Lesson One:
The Research
                                                                    Table of Contents
                               Market Research:
                                 Why Do It?
Marketing research focuses and organizes marketing
  information. It ensures that such information is timely
  and permits entrepreneurs to:
• Identify market opportunities
• Develop plans of action
• Learn how to Introduce Product to Market
• Reduce business risks
• Spot current and upcoming problems in the current
  market
 Creating and Implementing a
 Marketing Plan                   IISME Educational Transfer Plan
                                                                Table of Contents
           Lesson One: Market Research
                What can you learn?
•    Prove or Disprove Thesis.
•    Who are my customers and potential customers?
•    What kind of people are they?
•    Where do they live?
•    Can and will they buy?
•    Am I offering the kinds of goods or services they want - at the
     best place, at the best time and in the right amounts?
•    Are prices consistent with buyers view as the product's value?
•    Might my promotions work?
•    What do customers think of my business?
•    How does my business compare with my competitors?
•    Size of Market/Total Available Market?
Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents


How to Perform Market Research
Marketing Research Process:
1. Define Thesis
2. Set Objectives, Budget, and Timetables
3. Select Research Types, Methods, and Techniques
4. Design Research Instruments
5. Collect Data
6. Organize and Analyze the Data
7. Present and Use Market Research Findings

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents
             Marketing Research Process:
                       Step 1
Step One: Define Marketing Problems and Opportunities
• begins with identifying and defining the problems and
   opportunities that exist for your business, such as:
• Launching a new product or service.
• Low awareness of your company and its products or services.
• Low utilization of your company's products or services. (The
   market is familiar with your company, but still is not doing
   business with you.)
• A poor company image and reputation.
• Problems with distribution, your goods and services are not
   reaching the buying public in a timely manner.

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents
             Marketing Research Process:
                       Step 2
• Set Objectives
• Set Budget
• Set Timetables



Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents
             Marketing Research Process:
                       Step 3
Determine which type of research you will use:
• Primary Research or Original Information gathered for
  a specific purpose (ex. Survey or Questionnaire and
  Focus Group)
• Secondary Research or Information that already exists
  somewhere (ex. A Technical Report about the Sales of
  Shoes)
• Survey will give you more Qualitative Results.
  Questionnaire will give you more Quantitative Results.

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                    Table of Contents
             Marketing Research Process:
           Step 4…creating a Questionnaire
•    Identify screener to make sure you get data from Target Market.
•    Keep it simple.
•    Include instructions for answering all questions included on the
     survey.
•    Begin the survey with general questions and move towards more
     specific questions.
•    Keep each question brief.
•    Design a questionnaire that is graphically pleasing and easy to read.
•    Remember to pre-test the questionnaire. Have someone you know
     take it.
•    Mix the form of the questions (ex. scales, rankings, open-ended
     questions and closed-ended questions.
•    Create non-biased questions

    Creating and Implementing a
    Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents
             Marketing Research Process:
              Step 5…Collect the DATA!
• To help you obtain clear, unbiased and reliable
  results, do trial-runs before distribution.
• Make sure it is from your Target Market
• Stick to the objectives and rules associated with
  the methods and techniques you have set in Step
  Two and Step Three. Try to be as scientific as
  possible in gathering your information.


Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
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     Marketing Research Process:
  Step 6…Organize and Analyze Data
Some helpful tips for organizing and analyzing your data are listed below:
• Look for relevant data that focuses on your immediate market
  needs.
• Rely on subjective information only as support for more general
  findings of objective research.
• Analyze for consistency; compare the results of different
  methods of your data collection. For example, are the market
  demographics provided to you from the local media outlet
  consistent with your survey results?
• Quantify your results; look for common opinions that may be
  counted together.
• Read between the lines. For example, combine U.S. Census
  Bureau statistics on median income levels for a given location
  and the number of homeowners vs. renters in the area.
Creating and Implementing a
Marketing Plan                    IISME Educational Transfer Plan
                                                                Table of Contents
        Marketing Research Process:
      Step 7...Present and Use Findings
• Present findings to the companies decision makers (ie
  CEO, Marketing VP, Sales VP or Director)
• Insert your finding in the market analysis section of
  your business plan.
• Train and familiarize your sales and marketing
  departments with the data.
• Conduct a company-wide informational training
  seminar using the information.
• In summary, the resulting data was created to help
  guide your business decisions, so it needs to be readily
  accessible to the decision makers.

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents


                         Marketing Research
• Successful marketing requires timely and relevant market
  information.
• An inexpensive research program, based on questionnaires given
  to current or prospective customers, can often uncover
  dissatisfaction or possible new products or services.
• Market research will also identify trends that affect sales and
  profitability.
• Population shifts, legal developments, and the local economic
  situation should be monitored to quickly identify problems and
  opportunities.
• It is also important to keep up with competitors' market
  strategies.

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
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                              Focus Groups
• Is an interview with a group of potential
  customers
• Get valuable ideas on products or services.
• Ask the same questions as on a survey or
  questionnaire, but get more in-depth discussion
  about a topic.
• Focus Groups are led by a Moderator.
• They are usually recorded so that comments can
  be reviewed carefully after the session is over.
Creating and Implementing a
Marketing Plan                  IISME Educational Transfer Plan
 Lesson Two:
Marketing Mix
                                                                       Table of Contents
              Lesson Two: Marketing Mix
                     The Four P’s
The marketing mix is probably the most famous phrase
  in marketing. The elements are the marketing 'tactics'.
  Also known as the 'four Ps', the marketing mix
  elements are price, place, product, and promotion.




                              Product |Place |Promotion| Pricing


Creating and Implementing a
Marketing Plan                       IISME Educational Transfer Plan
                                                                       Table of Contents
              Lesson Two: Marketing Mix
                       Product
• The Product area is concerned with developing
  the right “product” for the target market.
• Product Mix
• Features
• Branding, packaging, and labeling


                              Product |Place |Promotion| Pricing

Creating and Implementing a
Marketing Plan                       IISME Educational Transfer Plan
                                                                        Table of Contents
              Lesson Two: Marketing Mix
                        Place
• Place is concerned with all the decisions
  involved in getting the “right” product to the
  target market’s place. A channel of distribution
  is any series of firms (or individuals) from
  producer to final user or consumer. Product:


                                                   Product |Place |Promotion| Pricing


Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                       Table of Contents
              Lesson Two: Marketing Mix
                      Promotion
• Promotion is concerned with telling the target
  market about the “right” product. Promotion
  includes personal selling, mass selling, and sales
  and promotion.


                              Product |Place |Promotion| Pricing




Creating and Implementing a
Marketing Plan                       IISME Educational Transfer Plan
                                                                       Table of Contents
              Lesson Two: Marketing Mix
                        Price
• In setting a price, they must consider the kind of
  competition in the target market– and the cost
  of the whole market mix.

                              Product |Place |Promotion| Pricing




Creating and Implementing a
Marketing Plan                       IISME Educational Transfer Plan
                                                                     Table of Contents


                              Marketing Strategy
A marketing strategy identifies customer groups which a
  business can better serve than its competitors:
• It tailors product offerings
• It tailors prices
• Its distribution
• Its promotional efforts
• and its services…
…toward those market segments.

Creating and Implementing a
Marketing Plan                     IISME Educational Transfer Plan
                                                                Table of Contents


         Lesson Two: Marketing Mix
Goals:
• Select a product mix, product features, and
  positioning for your good and service.
• Identify channels of distribution for your
  product or service.
• Price the products or services your business sells
  using various methods.

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
  Lesson Three:
The Marketing Plan
                                                                Table of Contents
               Top Four Reasons to have a
                    Marketing Plan?
1. Attracting more targeted customers to your
   store.
2. Seeing a higher ROI and stronger cash flow
   from your marketing efforts.
3. Being more in control of your business’s
   direction and where your money to come from.
4. Experiencing better, stronger, and longer-term
   successes.



Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                    Table of Contents

                               Marketing Plan
Helpful Websites:
United States Small Business Admin.
•http://www.sba.gov/starting_busines
s/marketing/plan.html
•http://www.s-m-a-r-t.com/index.htm


Virtual Enterprise
•http://www.virtualenterprise.org/Vir
tualLibrary.asp?Section=Intro&Library
=StrategicPlans




 Creating and Implementing a
 Marketing Plan                   IISME Educational Transfer Plan
                                                                   Table of Contents
                              Marketing Plan:
                              Implementation
Background information should summarize how
  the company started, who thought of it, purpose
  of being, and should come from a higher up.




Creating and Implementing a
Marketing Plan                   IISME Educational Transfer Plan
                                                                Table of Contents
                        Marketing Plan:
                     Analysis of Environment

• External Environment
       – Trends that apply to what is being sold
       – Total available market
       – Competitor list




Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                   Table of Contents
                              Marketing Plan:
                              SWOT Analysis
Internal:
       – Strengths
       – Weaknesses
External:
       – Opportunities
       – Threats



Creating and Implementing a
Marketing Plan                   IISME Educational Transfer Plan
                                                                Table of Contents
           Marketing Plan:
    Fundamental Marketing Strategies
• Pricing
       – (cost of manufacturing and what market will bear)
• Knowledge of the 4 P’s
• Anything learned from research




Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents
                   Marketing Plan:
              Implementation and Control
• Applies to Large Business




Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                    Table of Contents
                               Marketing Plan:
                              Financial Forecast
• Should include a Income Statement
       – Financial statements
       – Sales Forecast
       – Associated Income and Cost Analysis




Creating and Implementing a
Marketing Plan                    IISME Educational Transfer Plan
    Lesson Four:
Selling Your Product
                                                                 Table of Contents
                          Selling Your Product:
                                Promotion
Promotion: is communicating information
  between seller and potential buyers.

• Personal Selling
       – Involves direct spoken communication between
         sellers and potential customers.




Creating and Implementing a
Marketing Plan                 IISME Educational Transfer Plan
                                                                Table of Contents


                        Selling Your Product
• Mass Selling
       – Is communication with large numbers
         of potential customers at the same
         time.
• Publicity
       – Is any unpaid form of non-personal
         presentation of ideas, goods, or
         services (ex Press Release)


Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents


     Seven Sales Steps and Techniques
1.       The Pre-Approach
2.       The Approach
3.       Determining Customer Needs and Wants
4.       Making a Feature-Benefit Presentation
5.       Handling Customer Objections
6.       Closing the Sale
7.       Suggestion Selling and Reassurance

Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                    Table of Contents


                              The Pre-Approach
• Learn the features of Product or Service
• Study the customer and their buying motives




Creating and Implementing a
Marketing Plan                    IISME Educational Transfer Plan
                                                                  Table of Contents


                              The Approach
• Greet the customer with a warm, friendly
  welcome.
• Gain the customers confidence
• Direct the customer’s attention to the product
  or service




Creating and Implementing a
Marketing Plan                  IISME Educational Transfer Plan
                                                                Table of Contents
             Determine their NEEDS and
                      WANTS
•    Ask the customer questions
•    Listen to the customers answers
•    Observe the customers reactions
•    Analyze the customers responses and comments
•    Select products for the sales presentation




Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents


  Making feature-benefit Presentation
• Translate product features into buyer benefits
• Create customer interest in the product or
  service
• Involve the customer in the presentation
• Get the product into the customers hands
• Appeal to all of the customers senses
• Demonstrate the features and benefits
• Develop the desire for the product or service
Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents


    Handling Customer Objections
•    Welcome customer objections
•    Answer and overcome each objection
•    Provide additional buyer benefits
•    Repeat or review major buyer benefits
•    Develop customer conviction for product or
     service


Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                   Table of Contents


                              Closing the Sale
•    Get agreement from the customer
•    Watch for buying signals
•    Attempt trial closes
•    Assist the customer in making buying decisions




Creating and Implementing a
Marketing Plan                   IISME Educational Transfer Plan
                                                                Table of Contents
                        Suggestion Selling and
                            Reassurance
• Suggest items to go with the purchase
• Demonstrate use of suggested items
• Reassure the customer that a wise buying
  decision was made
• Thank the customer and invite the customer to
  return



Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                Table of Contents


                         Types of Customers
• Decided Customers
• Undecided Customers
• Just Looking Customers




Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                  Table of Contents


                              Be an observer
Learn…
• which approach to take.
• how to serve them.
• if they are in a hurry.
• do they pick up the same item a few times?




Creating and Implementing a
Marketing Plan                  IISME Educational Transfer Plan
                                                                   Table of Contents


                              Knock’em Dead
Key ingredients to do well in the Marketing Plan
  Presentation:
• Be Crisp…know your knowledge
       – The four P’s
       – Know your Target Market
       – Value Proposition
       – Why buy product
       – Dif physical need and emotional need

Creating and Implementing a
Marketing Plan                   IISME Educational Transfer Plan
                                                                Table of Contents

                              Study Guide:
•    Terms: see Vocabulary
•    Two type of Marketing Research and the do’s and don’ts
•    Understand the four P’s of Marketing.
•    Know the components of a Marketing Plan.
•    Understand “Target Market” and how it can help you.




Creating and Implementing a
Marketing Plan                IISME Educational Transfer Plan
                                                                 Table of Contents


                              Works Cited
Selling. 2nd ed. Chicago, IL: Southwestern, 1990.
Entrepreneurship Ideas in Action. 3rd ed. Mason, OH: Southwestern,
   2005.
Basic Marketing. 11th ed. Homewood, IL: Irwin, 1993.
United States Small Business Administration. 16 June 2005. 8 Aug. 2005
      <http://www.sba.gov>.
Great Ideas in Teaching Marketing. Fall 2003. Southwestern Learning. 8
     Aug. 2003<http://www.swlearning.com/marketing/gitm/gitm.html>.




Creating and Implementing a
Marketing Plan                 IISME Educational Transfer Plan

				
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