Budget Plan Marketing Costs by ixv20242

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									MARKETING & RETAILING
        Lee Sterling
       Lisa Herrmann
                   Agenda
•    Function of Shopping Center Marketing
•    Developing a Marketing Plan
    – Defining the Situation
    – Goals and Objectives
    – Strategies and Tactics
    – Results
      Role of the Marketing
              Director
•   Past – Promotion Director
•   Present – Marketing Manager
•   Future – To Be Determined
    Marketing Relationships
•   Shopping Center Staff
•   Tenants
•   Customers
•   Community
•   Media
•   Internal
        PRIMARY GOAL: INCREASE SALES
          Marketing Budget
• Marketing Income
  –   Tenant Dues
  –   Department store dues
  –   Owner’s contribution
  –   Additional income
  –   Increasing marketing income
          Marketing Budget
• Marketing Expenses
  –   Administration
  –   Advertising
  –   Office Expenses
  –   Decor
  –   Promotional Costs
  –   Merchant outreach
   WHAT IS A
MARKETING PLAN

    ???
          Advantages
• Accountability
• Focus
• Budget Control
       Step 1:

DEFINE THE SITUATION
              Facts to Review
1. Research
•       Primary              •   Secondary
    –     Focus Group             –   Maps
    –     Intercept Surveys       –   Competitor Directories
    –     Phone Surveys           –   Census Bureau
    –     Merchant Sales Data     –   Chamber of Commerce
    –     Personal Observation    –   Media Reps
    –     Other                   –   Newspapers
        Facts to Review
2. Market
  • Demographic and Economic Data
  • Transportation: Major Roadways & Drive Time
  • Natural Boundaries
  • Competition
       Facts to Review
3. Consumer Information
   •   Demographics
   •   Psychographics
   •   Shopping Habits
   •   Cultural Influences
   •   Local Economy
       Facts to Review
4. Shopping Center
   • Number and Location of Stores
   • Product/Price Lines/Merchant Mix
   • Layout and Design
   • Amenities/Services
   • Sales History
   • Current Market Penetration
   • Consumer Awareness of Center
           Facts to Review
5. Center Retailers
  • Center Map Color Coding
  • Map of Retailers in/near Percentage Rent
  • Prior Year’s Final Sales Report
  • Present Year’s Final Sales Report
  • Sales Graph by Merchandise Category
  • Occupancy Cost
          Facts to Review
6. Listing of Merchants
  • Present Rent

  • Break Point

  • MF/MA dues

  • Annual Dues Increase

  • Advertising Commitment
            Facts to Review
7. Leasing
  •   Expirations

  •   Strategy

8. Competition
  •   Physical Description

  •   Merchandise Description

  •   Redevelopment
 Step 2:

SET GOALS
Define Goals and Objectives
•   Sales Goals
•   Traffic Goals
•   Market Share
•   Image/Position
•   Customer Draw
•   N.O.I. Objectives
       Step 3:

STRATEGIES & TACTICS
                Strategies
•   Identify Marketing Target Audience (s)

• Identify Creative Message For Each
Target Audience

•Identify Method of Reaching Each Target
Audience
                     Tactics
• Advertising Plan
• Public Relations Plan
• Sales Incentive/Events Plan
• Marketing Budget
     a. By Season
     b. By Month
     c. By Event
      Developing Meaningful
        Marketing Programs
•   Special Events
•   Sales Promotions
•   Mall Signage
•   Loyalty Programs
•   Partnership Marketing
         Public Relations
•   News Releases
•   Media Alerts
•   Feature Stories
•   Photo Stories
•   PSA’s
•   News Conference
•   Media Kits
    Step 4:

MEASURE RESULTS
                   Results
•   Develop Methods to Measure Sales Results

•   Realize Significance of Results to Overall
    Objective

•   Communicate Results to Appropriate People

•   Make Appropriate Adjustments to Future Plan
 Impacting the Bottom Line
• Profitability
  - Traffic
  - Sales
  - Percentage Rent
• Increased Center Value
  - Income
  - Expense Control

								
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