Marketing Plan

Marketing Plan - Marketing Plan A good marketing plan lays...

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Marketing Plan A good marketing plan lays out the actions of the plan, who’s responsible for what and how each action should be carried out and when it should be carried out. In an effective marketing plan it is able to effectively communicate with other parts of the organization in order to carry out the company’s objective. According to the text, a good marketing plan also “ensures that the proposed objectives, strategy, and marketing actions are based on rigorous analysis of the 4 C’s and sound reasoning” (Mullins, Walker, Boyd, 2008, pg. 475). Last but not least a good marketing plan encourages team work from all departments within an organization by drawing on the skills and talents of a team, allowing the organization to benefit from the expertise of its workers and offer the team a chance to feel a part of the organization. Should recognize the various segments of the market for your product or service and indicate  how to adjust your product to reach those distinct markets. Instead of marketing a product in one  way to everyone, you must recognize that some segments are not only different, but better than  others for your product. This approach can be helpful in penetrating markets that would be too  broad and undefined without segmentation. No matter what you are making or selling, take the  total market and divide it up like a pie chart. Demographics This is the study of the distribution, density and vital statistics of a population, and includes such  characteristics as Sex. Age. Education. Geographic location.
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Home ownership versus rental. Marital status. Size of family unit. Total income of family unit. Ethnic or religious background. Job classification blue collar versus salaried or professional. Psychographics This is the study of how the human characteristics of consumers may have a bearing on their response to  products, packaging, advertising and public relations efforts. Behavior may be measured as it involves an  interplay among these broad sets of variables: Predisposition  - What is there about a person's past culture, heredity or upbringing that may influence  his or her ability to consider purchasing one new product or service versus another? Influences
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This note was uploaded on 07/07/2011 for the course BUS 600 taught by Professor Lee during the Spring '11 term at Troy.

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Marketing Plan - Marketing Plan A good marketing plan lays...

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