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Unformatted text preview: Marketing Plans
Business Management Fall 2007 Mr. Holland Quick Review of Marketing Mix
Marketing Mix Product Product Mix Product Life Cycle Portfolio Analysis Promotion Sales Promotion Advertising Personnel Selling Public Relations Price Cost Based Consumer Oriented Competition Based Place Distribution Channel Consumers are faced with many choices in the market and are influenced by many factors. The marketer uses the Marketing Mix to create an overall package the makes the firm's product is the one most likely to be chosen Market research, segmentation, and planning enable the development of an effective Marketing Mix Marketing Planning Process by which future activities are systematically ....planned! The Plan is influenced by Current Status of the Business- A Marketing Audit
Where the organization is currently The audit examines the Marketing Environment Where does the business want to go? Sales, Profit, Market Share Viewed in terms of the 4Ps How can it get there? Marketing Strategies The Marketing Environment The Micro-Environment Influences the organization directly Includes: Suppliers Consumers Stakeholders Relationship between firms & the driving forces that control this relationship A local relationship influenced by the firm The Macro-Environment All factors that can influence an organization, but are out of their direct control Competition, Globalization, Regulatory, Culture, Politics, Technology, etc. This environment is constantly changing Firms must be able to adapt and adjust! The Internal Environment Factors that are internal to the organization The FIVE Ms Men (politically incorrect--Mpeople!) Money Machinery Materials Markets Important for managing effective changes Benefits of Market Planning Reflects on Marketing Activities Plan your work and work your plan Constant improvement-measurement! Coordinates the entire Marketing effort Maximizes Human & Financial Resources Criteria Established Confidence of Debtors Marketing Plan Problems Focus should be on Customer (not internal matters) Focus on functions and not customer groups Prioritization Sensitivity to prevailing market conditions and the nature of the market Evaluating Marketing Plans Use of clear, measurable criteria Methods for evaluation: Sales analysis Market Share analysis Marketing profitability analysis Sales Revenue minus Marketing Costs= Mktg Profit ...
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This note was uploaded on 05/16/2011 for the course ART 113 taught by Professor Haverford during the Winter '10 term at Grand Valley State University.
- Winter '10