The Plan KNOW WHERE YOU ARE HEADED mission statement identifies the nature of the business and the...
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Transcript of The Plan KNOW WHERE YOU ARE HEADED mission statement identifies the nature of the business and the...
![Page 1: The Plan KNOW WHERE YOU ARE HEADED mission statement identifies the nature of the business and the reason it exists All tactics and strategies should be.](https://reader036.fdocuments.in/reader036/viewer/2022072013/56649e565503460f94b4d990/html5/thumbnails/1.jpg)
The PlanKNOW WHERE YOU ARE HEADED mission statement
identifies the nature of the business and the reason it existsAll tactics and strategies should be built around the mission statement.
mass marketa broad group of customers
product portfolioall the products a company has available at any one time
test marketingwhere the sales potential for a new product is tried in a small market prior to its final release
The marketing plan is a detailed document that further provides a detailed description of how the tactics and strategies will be implemented.
![Page 2: The Plan KNOW WHERE YOU ARE HEADED mission statement identifies the nature of the business and the reason it exists All tactics and strategies should be.](https://reader036.fdocuments.in/reader036/viewer/2022072013/56649e565503460f94b4d990/html5/thumbnails/2.jpg)
The PlanComponents of a Marketing Plan A marketing plan should be guided by the current and future needs of customers.
Executive Summarya summary of the basics of the plan. The most important part of plan. Thepart that will get people to read more of the plan
The Mission StatementThe marketing plan must be in agreement with the mission statement.
Marketing InformationInformation is gathered, analyzed, interpreted and used to make business decisions.
The Tacticdescribes product or service differentiationshould pinpoint a gap that is not be filled by another product or service
Strategydescribes the marketing mix
![Page 3: The Plan KNOW WHERE YOU ARE HEADED mission statement identifies the nature of the business and the reason it exists All tactics and strategies should be.](https://reader036.fdocuments.in/reader036/viewer/2022072013/56649e565503460f94b4d990/html5/thumbnails/3.jpg)
The Plan Product/Service
the identified need is the basis for the development of the product or service
The Distribution Systemdescribes how the product or service will be made available to customers
PricingThe price must be set where revenues will be maximized to cover all costs and provide a profit.
Promotional Strategieshow the product will be positioned in the minds of customers
advertising publicity sales promotion
personal selling
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The PlanFinancing
disclosure of all expected costs and revenuesmight indicate need for additional funding
Risk Managementoutlines possible risks and strategies for minimizing the risks
Implementation Timeline
start with completion date and plan backwardsspecify event sequencing
Assignments of Responsibilityspecify who is responsible for each component of the plan
Selling
defines how direct sales will be handled
Review and Evaluation define mileposts for progress checks of the plan