Chapter 3 - Marketing Plan Steps 1 - 2 (1)
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Transcript of Chapter 3 - Marketing Plan Steps 1 - 2 (1)
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DEVELOPING AMARKETING
PLAN
DEVELOPING AMARKETING
PLANHRT 322 Chapter 3
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Short TermMarketing Plan
1 2 years
StrategicMarketing Plan
3 or more years
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MissionStatementWhat business are we in?
(Purpose, here andnow)
VisionStatement
Whatdo we wantto be?
(Goals, longtermdream)
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Sets the tone for the company
Tool for companys accountability toemployees, customers and investors
Intent, purpose of activities
Should be challenging but achievable
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Future aspirations
Companys values
Reaching high, but still realistic
Outward focused why customers should
do business with company
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Who Specific
What / Goal Measurable How Achievable
The Promise Relevant
Focus Time-bound When
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FAMOUS MISSION
STATEMENTS
FAMOUS MISSION
STATEMENTS
"CRUSH REEBOK
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FAMOUS MISSION
STATEMENTS
FAMOUS MISSION
STATEMENTS
"BeatCoke"
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FAMOUS MISSION
STATEMENTS
FAMOUS MISSION
STATEMENTS
"Togive ordinary folk
the chance to buythe
same things asrich
people.
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FAMOUS MISSION
STATEMENTS
FAMOUS MISSION
STATEMENTS
We will crush, squash,andslaughterYamaha"
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FAMOUS MISSION
STATEMENTS
FAMOUS MISSION
STATEMENTS
"Tomake people happy."
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Portfolio Analysis
Segmentation Analysis
Competitor Analysis
SWOT Forecasting
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Products and their
various life cycles
Concorde, A380
Sony Walkman, iPod
Rubiks Cube
Space Tourism
2 X 2 Matrix
Cash Cow
Dog
Star
Question
Mark
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Direct
Category
General
Budget
Product Substitution
Product Range
Functionality
Exchangeability
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Harvard Business School Professor
Leading authority on competitive strategy
Creator of the Institute forStrategy and
Competitiveness at Harvard
He is the author of 17 books and over
135 articles
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Low costleadership
Focus
Differentiation
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On one segment of the market or onesegmentation criteria (i.e. Niche Strategy)
Produces specialized (differentiated)products or services
Justifies higher prices Captures higher profit margins
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Age
Gender
Income
Education
Education
FamilyLife Cycle
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socialclass
lifestyle personality
attitudes
motivation activities
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countries
provinces
regions
cities
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Luxury
Education
Budget
Entertainment
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Usage Rate
UserStatus
Loyalty Status
Buyer-readiness
Occasions
How often?
Repeat Customers
vs. First Time (GAP)
Repeat Customer
New Idea (i.e. Eco)
Sports, Concert,
Theatre
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SWOT ANALYSIS
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FORECASTING
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INTENTIONS, TOOLS AND
RISKS Intention:
To Predict Future Sales Volumes, Growth, and Trends
Tools:
Market Research
Internal Data
External Data
Historic Trends
ComputerSimulations
Risks:
Misinterpretation
Unpredictability
Global Forces
Inefficient data
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