Writing Marketing Plans
Presented by: Dr. Ruthie G. Reynolds
Dr. Surendra P. Singh
Tennessee State University
Funded by: USDA Rural Business Cooperative Service and Tennessee State University
Goal
How to develop a marketing plan.
Marketing Plan
What is Marketing?
Why is it necessary to have
a Marketing Plan?
Items to Consider in Writing a Marketing Plan
Determine customers’
want or need.
Satisfy customers’
needs.
Provide product/service
that yields profit for business.
Rules of Marketing
Look for new ideas
Know the market, customers, & competitors See for yourself Learn about consumer trends Keep up-to-date
Marketing vs. Selling
How is “marketing” different from “selling”?
Preparing Your Marketing Plan
A Marketing Plan:
sets the direction and tone of the businesses marketing efforts.
Preparing a Marketing Plan
What How Who – customer’s need – consumer’s need will be met – are your customers
Where – location of market, operation and cost
Preparing a Marketing Plan
Marketing Strategy
Identify customer groups (target marketing)
Target Marketing
Customer Segmentation
Product Segmentation
Customer Segmentation
Four P’s of Marketing
Products and services
Place Price
Promotion
Marketing Plan Format
Title Page Executive summary Table of Contents Introduction Situational Analysis Opportunities & Issues analysis Marketing Planning Implementation & Control of Market Plan Summary Appendix: Financial analysis References
Credits
Funding Partners Development Team
USDA Rural Business Cooperative Service Tennessee State University - Cooperative Extension Program - - Department of Ag Sciences - College of Business
*Agricultural Extension Offices, TN * College of Business, TSU **North MS Center for Higher Educational Advancement, Inc.
Dr. Surendra P. Singh, Professor Agribusiness, TSU - Nashville Dr. Ruthie Reynolds, Retired Professor College of Business, TSU – Nash.
Resources
Starting a Business Cashing in on Business Opportunities
For More Information
Dr. Ruthie G. Reynolds Dr. Surendra P. Singh
Professor, Agribusiness Tennessee State University E-mail: ssingh@tnstate.edu Email: ruthiegreynolds@aol.com