The Marketing Game PlanThe Marketing Game Plan

Chapter 6

The Game PlanThe Game Plan

1. How are tactics used to market products to potential fans?

2. Compare and contrast the use of a tactic and a strategy in the marketing process.

3. Which types of data input are important to marketers to determine the appropriate strategy for marketing.

Marketing TacticsMarketing Tactics

Tactic-– The way a product or service is differentiated in

the minds of customers from other competing products or services.

Competitive edge-– To hold a truly competitive edge, a company’s

product or service must be truly different in the mind of the consumers.

TacticsTactics

Developed from the bottom up.Most tactics are developed by those who

work with the customer first hand.Developed by those who have their minds

open to exploring what the customer wants.

StrategiesStrategies

The process by which the tactics are implemented.

CompetitionCompetition

When your product or service is generating profits quickly, competition will arise.

Sports and entertainment marketers want to know all information about their potential competitors.

“Winning the game” in business means generating more market share and profit over competitors.

Gaining InformationGaining Information

Marketing intelligence-– Information gathered about competitors.

Types of data that is valuable to marketers:– Pricing– Place– Product/Service Management– Promotional Efforts

Valuable InformationValuable Information

Pricing– Can be the major factor in the decision to buy.

Place– Knowing the place that consumers buy the most

products as well as the best way of producing a product allow companies to have a competitive edge.

Valuable InformationValuable Information

Product/Service Management– Knowing what your competitors products or

services offer allow business to hold an edge over competitors.

Promotional Efforts– Knowing the customer they are targeting,

promotional efforts of competitors, and how much competitors are spending on promotions.

Finding InformationFinding Information

The Internet– Cost effective and efficient.

Observations– Provides information that would not otherwise be available.

Trade Shows– Major events where people in a related industry meet to

show their products, exchange ideas, learn about the latest trends, and so forth.

Customers– Volunteer information about the competition.

Quick ReviewQuick Review

Tactics are…A. The study of sales process.

B. The ways a product is differentiated from the competition.

C. The study of the relationship of individual consumers and producers.

D. Strategies for success.

Quick ReviewQuick Review

To find information about competition, marketers can…

A. Use the Internet.

B. Attend trade shows.

C. Talk with customers.

D. All of the above.

Entertainment and Sports Entertainment and Sports StrategiesStrategies

1. How do marketers use a marketing plan to focus their strategies and tactics?

2. Why is it important for marketers to reach their customer base through different types of touch points?

3. How do trends in sports and entertainment affect the marketing plan used to reach customers?

Marketing PlanMarketing Plan

– A precisely written document that describes the tactics and strategies that will be used to market the product or service.

– Once tactics are determined, strategies are designed based on market research.

– Raw data– Facts and recorded measures that have been gathered.– Grouped and organized into formats suitable for

decision making.

InterpretationInterpretation

– Explaining the information so that it has meaning and drawing conclusions that relate to the defined marketing research problem.

Applied ResearchApplied Research

– Research conducted to solve problems.

– Touch Points

– Points at which the business makes contact with the customer.

– Examples: Internet, telephone, e-mails, advertisements, one-on-one sales, and/or pitches.

How This Takes PlaceHow This Takes Place

– Nike Vs. Adidas in the soccer world– Adidas is the main sponsor of soccer including

the World Cup– Nike would like to profit off of the soccer area– Nike decides to fill a niche that has not been

filled by Adidas, street – ready soccer merchandise.

Quick ReviewQuick Review

Applied Research is:A. Gathered from all touch points.

B. Conducted to solve a specific problem.

C. Data that have been organized and interpreted.

D. None of the above.

Quick ReviewQuick Review

Touch points are:A. Sensitive areas of business.

B. Buttons pushed on computer screens.

C. The points where a business makes contact with customers.

D. All of the above.

Mapping the PlanMapping the Plan

1. How do the steps of the marketing plan work together to create an effective tool for marketers?

2. Compare and contrast the different steps of the marketing plan and what must happen during each step to ensure an effective marketing plan.

3. Why would marketers want to identify and include their mission statement and product portfolio into their marketing plan?

Mission StatementMission Statement

– Identifies the nature of the business and the reason it exists.

– Provides focus for marketers and planners as they develop tactics and strategies for new products and services.

– All tactics and strategies are built around the mission statement.

MarketingMarketing

– Mass market– Broad group of customers.

– Product portfolio– All the products a company has available for customers

at any one time.

– Test marketing– The sales potential for a new product is tried in a

regional, or otherwise small, market prior to its final release nationwide and/or worldwide.

The PlanThe Plan

A marketing plan can generally be divided into three categories– Analysis– Strategy– Implementation

AnalysisAnalysis

– The Mission Statement– Reiterates the organization’s mission statement.– Helps marketers focus their efforts.

– Marketing Information– Pertinent marketing information is shared.– Includes data about the current and past performances of the

organization.

– Tactic– The tactic is specified and describes how the new product or

service will be differentiated in the minds of consumers. – Pinpoint a gap that is not being fulfilled by other competitors

StrategyStrategy

– Describes the marketing mix as well as plans for financial and risk management. – Product/Service– The Distribution System– Pricing– Promotional Strategies– Financing– Risk Management

ImplementationImplementation

– Describes how the marketing plan will be put into action.

– Timeline– State the date the plan needs to be completed and work

backwards.– Assignments and Responsibility

– Specify who is responsible for carrying out each task. – Internal Communication Systems

– It is desirable that all areas of the organization buy into the plan.

Implementation Con’tImplementation Con’t

– Selling– The marketing plan must outline how direct

sales will be handled. All touch points should be identified.

– Review and Evaluation– Include mileposts to measure progress to ensure

the plan is on task.

Quick ReviewQuick Review

A mass market is:A. a religious group.

B. a broad category of consumers.

C. a group of investors.

D. none of the above.

Quick ReviewQuick Review

The major categories of a marketing plan include:

A. Analysis.

B. Strategy.

C. Implementation.

D. All of the above.

Chapter ReviewChapter Review

Which of the following would not be considered a touch point:

A. an e-mail to a customer.

B. a manager – employee meeting.

C. an interactive web site where customers can find information and provide feedback.

D. an advertisement.

Chapter ReviewChapter Review

The implementation section of the marketing plan will contain:

A. timelines.

B. assignments of responsibility.

C. intervals of review and evaluation

D. all of the above.

Chapter ReviewChapter Review

A product portfolio:A. the research completed on a product.

B. a pricing strategy.

C. all of the products a company has available for customers at any one time.

D. all of the above.