Mkt1 Final Exam
Developing a Marketing Plan
The basic stages include
1. examine the current situation
2. identify potential threats and opportunities
3. set objectives
4. develop strategies – including advertising and promotion.
This paper illustrates the types of information typically appearing in each section of a product marketing plan.
Business units within the firm have their own product marketing plans that focus on specific target markets and marketing mixes for each product. Product marketing plans typically include both strategic decisions (or what to do) and execution decisions (or how to do it). Marketing plans may be developed for a single brand, a product line, or a business unit that markets multiple product lines.
Overall, planning …show more content…
What is the overall promotional strategy for the organization? Describe in terms of structure, tasks, and strategy (push/pull).
C. How much money is allocated for the promotional budget? How will it be divided?
D. What are the copy and media strategies for this product or service? How does the advertising differ from any competitors?
E. What is the role of personal selling in the promotional mix? What is the ratio of advertising spending to personal selling spending? Does this ratio reflect the importance given to personal selling in the overall promotional strategy?
F. What is the role of sales promotion? What is the ratio of advertising expenditures to sales promotion expenditures? Does this ratio reflect the importance given to sales promotion in the overall promotional strategy?
G. What types of sales promotion will be used?
H. What are the objectives of the public relations program?
Part 7: Budgets, Control, and Accountability
A. For the product or service being planned for, develop a time line that will ex plain the following:
1. What will be accomplished and how much will it cost?
2. Who will do it?
3. When will it he …show more content…
Jam, Marketing Planning Strategy, 4th ed. (Cincinnati, OH: South Western Publishing Company, 1993), p. 5.
William A. Cohen, The Marketing Plan (New York, NY: John Wiley and Sons, 1995), p.
The marketing plan outline included in this appendix is an adaptation of the marketing plan exercise used by Professor Anne M. Devine, Alverno College, Business and Management Division, 3401 S. 39th Street, Milwaukee, WI 53234 We are indebted to Professor Devine for her permission to include the plan in the appendix.
Alternative Plan Outline
1. Executive Summary
2. Situational Analysis Marketing Analysis Target Markets Market Analysis Demographics Market Needs Market Trends Market Growth SWOT Analysis Competitive Analysis Product / Service Offering Drivers of Success Critical Issues
3. Marketing Strategy Mission Marketing Objectives Target Marketing Positioning Marketing Mix Market Research
4. Financials, Budgets, & Forecast Break Even Analysis Sales Forecast
Expense Forecasts Monthly Budget Marketing Expense Budget
5. Controls Marketing Management Organization Performance Tracking Contingency
The basic stages include
1. examine the current situation
2. identify potential threats and opportunities
3. set objectives
4. develop strategies – including advertising and promotion.
This paper illustrates the types of information typically appearing in each section of a product marketing plan.
Business units within the firm have their own product marketing plans that focus on specific target markets and marketing mixes for each product. Product marketing plans typically include both strategic decisions (or what to do) and execution decisions (or how to do it). Marketing plans may be developed for a single brand, a product line, or a business unit that markets multiple product lines.
Overall, planning …show more content…
What is the overall promotional strategy for the organization? Describe in terms of structure, tasks, and strategy (push/pull).
C. How much money is allocated for the promotional budget? How will it be divided?
D. What are the copy and media strategies for this product or service? How does the advertising differ from any competitors?
E. What is the role of personal selling in the promotional mix? What is the ratio of advertising spending to personal selling spending? Does this ratio reflect the importance given to personal selling in the overall promotional strategy?
F. What is the role of sales promotion? What is the ratio of advertising expenditures to sales promotion expenditures? Does this ratio reflect the importance given to sales promotion in the overall promotional strategy?
G. What types of sales promotion will be used?
H. What are the objectives of the public relations program?
Part 7: Budgets, Control, and Accountability
A. For the product or service being planned for, develop a time line that will ex plain the following:
1. What will be accomplished and how much will it cost?
2. Who will do it?
3. When will it he …show more content…
Jam, Marketing Planning Strategy, 4th ed. (Cincinnati, OH: South Western Publishing Company, 1993), p. 5.
William A. Cohen, The Marketing Plan (New York, NY: John Wiley and Sons, 1995), p.
The marketing plan outline included in this appendix is an adaptation of the marketing plan exercise used by Professor Anne M. Devine, Alverno College, Business and Management Division, 3401 S. 39th Street, Milwaukee, WI 53234 We are indebted to Professor Devine for her permission to include the plan in the appendix.
Alternative Plan Outline
1. Executive Summary
2. Situational Analysis Marketing Analysis Target Markets Market Analysis Demographics Market Needs Market Trends Market Growth SWOT Analysis Competitive Analysis Product / Service Offering Drivers of Success Critical Issues
3. Marketing Strategy Mission Marketing Objectives Target Marketing Positioning Marketing Mix Market Research
4. Financials, Budgets, & Forecast Break Even Analysis Sales Forecast
Expense Forecasts Monthly Budget Marketing Expense Budget
5. Controls Marketing Management Organization Performance Tracking Contingency