Week 9 - MKTG 4890 Week 9 Presentation Schedule Marketing...

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Unformatted text preview: MKTG 4890 Week 9 Presentation Schedule Marketing Plan Outline (A & B) Estimating Sales Presentation Schedule Wed Nov. 5 Groups 1-3 Presentation 1 Situation Analysis Situation Mon. Nov. 10 Groups 4-6 Presentation 1 Situation Analysis Wed. Nov. 12 Groups 6-4 Presentation 2 Marketing Strategy Mon. Nov. 17 Groups 3-1 Presentation 2 Marketing Strategy Marketing Wed. Nov. 19 Groups 1-3 Presentation 3 Budget etc. Budget Mon. Nov. 24 Groups 4-6 Presentation 3 Budget etc. Budget Mon. Dec. 1 Formal Presentation: Groups 1-3 Wed. Dec. 3 “ “ : Groups 4-6 Wed. Dec. 10 Written M. Plan due (by 1:50 p.m.) Group Assignments: Wed Group 1- “When Reality Hits” (Graduating Group Seniors) Seniors) Group 2 – Samson Microphone (Professors; ?) Group 3 – Supertooth Group 4 – JamRecorder Presentation Schedule Wed. Nov. 5 Groups 1-4 Presentation 1 Situation Analysis Situation Wed. Nov. 12Groups 4-1 Presentation 2 Marketing Strategy Mon. Nov. 19 Groups 1-4 Presentation 3 Budget etc. Budget Wed. Dec. 3 Formal Presentation: Groups 1-4 Wed. Dec. 10 Written M. Plan due (by 6:30 p.m.) Group Assignments: Mon/Wed Group 1- JamStudio (Music Amateurs) Group 2 – Supertooth (Electrical Stores) Group 3 – Samson Microphone (Professors) Group 4 – Drill Doctor (Hardware Stores) Group 5 - “When Reality Bites” Group Group 6 - Bosch Driver (College Students, etc.) Group Marketing Planning Outline A. Executive Summary Marketing Plan Overview 1.Key Points of Marketing Plan 2.Organizational Mission and Marketing Plan Relationship B. Situational Analysis 1. The Environment A. Business and Product/Service Description 1. Describe the Industry (U.S. Only) 1. 2. Describe the Business (U.S. Only) 2. 3. Describe the Product/Service and the Fit 3. B. Market Environment 1. Describe the Market Potential 1. 2. Define the Actual Market Size 2. 3. Describe Demand Trend for Product/Service 3. 4. Identify Current Market Segments 4. 5. Describe Market Segments Currently Targeted 5. 6. Specify Immediate Important Competitors (Top 5) 6. The Environment Describe Differential Advantage(s) by Describe Segment Segment 8. Describe Product/Service Usage 8. 9. Compare the Competitive Players 9. 10. Compare Competitor’s Resources 10. 11. Identify Additional Segments to Target 12. Analyze Potential Competition 12. C. Macro Environment 1. Define the Impact of Economic Trends 1. 2. Define the Impact of Social/Cultural Trends 2. 3. Define the Impact of Political/Legal Trends 3. 4. Define the Impact of Related Technology 4. 7. 7. 2. THE PRODUCT Evaluating the Product as an Innovation. Evaluate the innovative characteristics of the product as perceived by intended market: product 1. Relative advantage 1. 2. Compatibility 2. 3. Complexity 3. 4. Trialability 4. 5. Observability 5. Major Problems and Resistance to Product Major Acceptance Acceptance - Based on the above, list the problems and resistance to market acceptance of the product. resistance 3.Customer Analysis: Consumer Who they are: Purchaser User What they buy: Amount Brand, features Usage situation Where they buy it: When they buy it: Time of year On sale/promotion Customer Analysis (cont.) How they choose: Decision participants Process Info. sources Why they select a product: Customer value Functional attributes Service Image Brand equity Customer (Industrial) Describe the market(s) in which the product Describe is to be sold: is 1. Characteristics of Customer Groups and per capita purchases by: and - Intended use of product - Firm size Firm - Firm income Firm - Geographic region Geographic Customer (Industrial) 2. Distribution of Product 2. - Typical retail sales outlets (Product Sales by retail store group) (Product - Typical middlemen (Product Sales by Middlemen- type) Sales 4. Competition Competition Competition (Describe the significant differences existing between your product and competition’s product). product 1. Competitive product(s) 1. 2. Competitive price(s) 2. 3. Competitive promotion 3. 4. Competitive distribution methods 4. Competition 1. 2. (Continued…) Direct Competitors Substitute Products 3. Price - Price range for competing products Price - Price range for comparable products Price 4. Advertising and promotion - Major advertising media customarily used to reach the target market used - Sales promotions customarily used (coupons, sampling, etc.) (coupons, C. MARKETING STRATEGY The section should reflect, in your judgement, the most effective ways to overcome the problems described above and to produce maximum sales/profit. Marketing Objective(s) Marketing 1. Target Market(s) (specific description of the market) of 2. Expected sales 20__ 2. 3. Profit expectations 20__ 3. 4. Market penetration and coverage 4. Marketing Planning Outline C. Strategy - Price 1. Describe Pricing Fit Per Segment 1. 2. Describe Required Pricing Modifications Per 2. Describe Segment Segment 3. Formulate Additional Pricing Strategies 3. D. Strategy - Promotion 1. Prepare Refined Messages 1. 2. Describe Optimal Promotional Mix 2. VI. Action Program A. Product 1. Write Tactical Product Objective 1. 2. Specify Activities Required 2. B. Marketing Channels 1. Write Tactical Objective for Channel Distribution 1. 2. Specify Activities Required 2. C. Physical Distribution 1. Write Tactical Objective for Physical Distribution 1. 2. Specify Activities Required 2. Marketing Planning Outline D. Price 1. Write Tactical Pricing Objective 1. 2. Specify Activities Required 2. E. Advertising 1. Write Tactical Objective for Advertising 1. 2. Specify Activities Required 2. F. Personal Selling 1. Write Tactical Objective for Personal Selling 1. 2. Specify Activities Required 2. G. Sales Promotion 1. Write Tactical Objectives for Sales Promotion 1. 2. Specify Activities Required 2. H. Publicity 1. 1. 2. 2. Write Tactical Objectives for Publicity Specify Activities Required Marketing Planning Outline I. Other Promotion 1. Write Tactical Objectives for Other 1. Write Promotion Promotion 2. Specify Activities Required 2. Specify Budget, Control and Accountability A. Operational Budgets 1. Prepare an Operational Budget 1. B. Final Forecasts 1. Calculate Final Forecasts 1. C. Monitoring Systems 1. Specify Reporting Functions, Times and 1. Specify Responsibilities Responsibilities VII. VII. MARKETING STRATEGY Product (Cont.) 1. Name 1. 2. Package Adaptation 2. 3. Product features 3. Price 1. Retail price 1. 2. Middlemen discounts or markups markups 3. Gross margins 3. MARKETING STRATEGY (Cont.) Promotion 1. Advertising 1. - Objectives Objectives - Media mix Media - Message Message - Costs Costs 2. Sales Promotion 2. - Objectives Objectives - Coupons Coupons - Premiums Premiums - Costs Costs 3. Personal Selling 3. MARKETING STRATEGY Distribution (Cont.) 1. Retail outlets 1. 2. Middlemen 2. Estimating Sales HOSPITALS (4000) 0% 25% 75% Cumulative Percentage Penetration % 30 25 20 17.5 15 10 5 2.5 0 0 0 1 2 3 Years 4 5 6.25 11.25 25 Penetration 6 Market Penetration (Units) 1200 1000 800 700 600 400 200 100 0 0 1 2 3 4 5 250 450 penetration 1000 Sales Budget year 1 Q1 Q1 Units Price/ Unit Sales 10 $10k $100k Q2 15 $10k $150k Q3 20 $10k $200k Q4 55 $10k $550k Total 100 $10k $1000k Sales Budget (years 1-5) Year1 Sales Sales Units Units Price/ Price/ unit unit Sales Sales 100 $10k $1m $1m Year2 150 $10k $1.5m Year3 200 $9k $1.8m Year4 250 $8k $2.0m Year5 300 $7k $2.1m 0 DEFINING THE MARKET 5 TYPES OF MARKETS POTENTIAL MARKET AVAILABLE MARKET QUALIFIED AVAILABLE MARKET TARGET MARKET PENETRATED MARKET 0 Market Potential and Sales Forecasting Potential: The maximum sales The reasonably attainable under a given set of conditions within a specified period of time. time. An upper limit or ceiling on sales.© 0 POTENTIAL MARKET ALL CUSTOMERS WHO MAY BE INTERESTED IN A PARTICULAR OFFERING. RENTAL CAR EXAMPLE: ANY DRIVER WHO NEEDS TEMPORARY TRANSPORTATION 0 AVAILABLE MARKET A SUBSET OF THE POTENTIAL MARKET: CUSTOMERS WHO ARE INTERESTED, POSSESS ADEQUATE INCOME, AND HAVE ACCESS TO THE OFFERING RENTAL CAR EXAMPLE: ANY DRIVER WHO CAN AFFORD THE RENTAL FEES AND IS IN THE AREA SERVED BY RENTAL-CAR SERVICES. 0 QUALIFIED AVAILABLE MARKET A SUBSET OF THE AVAILABLE MARKET: CUSTOMERS WHO ARE QUALIFIED TO BUY BASED ON AGE (FOR PRODUCTS THAT CANNOT BE SOLD TO UNDERAGE CONSUMERS) OR OTHER CRITERIA. RENTAL CAR EXAMPLE: DRIVERS IN THE AVAILABLE MARKET WHO HAVE LICENSES AND MEET MINIMUM (OR MAXIMUM) AGE RESTRICTIONS. 0 TARGET (SERVED) MARKET A SUBSET OF THE QUALIFIED AVAILABLE MARKET: CUSTOMERS THAT THE COMPANY INTENDS TO TARGET FOR A PARTICULAR OFFER. RENTAL CAR EXAMPLE: DRIVERS IN THE QUALIFIED AVAILABLE MARKET WHO NEED TO TRAVEL FROM AIRPORTS TO FINAL DESTINATIONS IN THE AREA. 0 PENETRATED MARKET A SUBSET OF THE TARGET MARKET: CUSTOMERS WHO ARE ALREADY BUYING THE TYPE OF GOOD OR SERVICE SOLD BY THE COMPANY. RENTAL CAR EXAMPLE: DRIVERS IN THE TARGET MARKET WHO HAVE PREVIOUSLY USED RENTAL CAR SERVICES. ...
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This note was uploaded on 03/09/2011 for the course MKTG 4890 taught by Professor Staff during the Fall '08 term at North Texas.

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