311_Session27

311_Session27 - USC M ar keting 307 •#2 M ar keting Cycle...

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Unformatted text preview: USC M ar keting 307 • #2 M ar keting Cycle © 2006 Ira S. Kalb. All rights reserved. 1 1. Marketing Cycle . Sequential steps to perform the marketing function. 2. Marketing Plan purposes — (1) Blueprint and (2) Selling Document 3. Marketing Plan Main Elements 3-1. Goals . Develop clear, measurable that are goals that are challenging but doable to focus everyone. 3-2. Strategies. Strategies to achieve them that includes an integrated Marketing Mix comprised of the 7 Building Blocks of Marketing. 3-3. Measure Performance. How well did you achieve goals? 3-4. Take Corrective Action. Make necessary changes. 1. Marketing Plan Sequence. 4-1. SWOT Analysis — Do an Internal evaluation of your (1) Strengths and Weaknesses, and an (2) External evaluation of the Opportunities and Threats in the marketplace. Match your Strengths with the Opportunities. This usually comes from your Business Plan. 4-2. Examine where you have been, where you are, and where you want to go — Look at history of the company (of founders if start up), current situation, and what you want to achieve over the next plan cycle. 4-3. Define the market for the opportunity chosen — Identify the target audience, size and location that have the need. Firm S & W Market O & T External Evaluation S O Match up Strengths with Opportunities Too hard = frustrating Too easy = boring Challenging = best results Internal Evaluation USC M ar keting 307 • #2 M ar keting Cycle © 2006 Ira S. Kalb. All rights reserved....
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311_Session27 - USC M ar keting 307 •#2 M ar keting Cycle...

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