Marketing Plan Positioning strategy Target market profile Marketing objectives

Marketing plan positioning strategy target market

This preview shows page 7 - 10 out of 16 pages.

Marketing Plan - Positioning strategy - Target market profile - Marketing objectives - Marketing strategies - Marketing execution (tactics) - Budget and financial summary - Evaluation and control Positioning strategy - Positioning : selling concept that motivates purchase, or the image that marketers desire a brand to have in the mind of consumers - Positioning strategy statement has a direct impact on the nature of the message delivered to the consumer - Importance of positioning o There is no such thing as a commodity (changes overtime) o Every product and service can be differentiated o Perception is reality o Facts are facts, but perception is real - Positioning statement
Image of page 7
o For (target segment), (the product) (most important claim) because (single most important support) o Ex. Nike – “for serious athletes”, Under Armour – “for all athletes” Target market profile - Demographic profile - Psychographic profile - Geographic profile - Behavior response Marketing objectives - Statements that identify what a product will accomplish in a one-year period - Usually expressed in terms of sales, market share, and profit - Quantitative and qualitative Marketing strategies - Plans of action that show how the various elements of the marketing mix will be used to satisfy target market needs o Percentage of sales – a predetermined percentage of forecasted sales is allocated to marketing or marketing communications o Fixed sum/unit – a predetermined dollar amount per unit sold is allocated to marketing or marketing communications o Industry average – the average amount (current or forecasted) spent on marketing or marketing communications by all brands in a market is allocated to marketing o Advertising share/market share – invest at a level to retain share (ad share = market share); invest at a level to build market share (ad share > market share) o Task ( objective ) – define the task, determine the activities to achieve the task, and associate a cost to the activities Marketing execution - Program details drawn directly from the marketing strategy to identify o What programs will be implemented o How much they will cost o Timelines, budgets o People, resources etc. Marketing communications plan model - Marketing communications objectives - Marketing communications strategies o Creative plan (what is the message) Direct response plan, digital plan, sales promotion plan o Media plan (how do I communicate the message) Public relations plan, events/sponsorship plan, personal selling plan - Calendar of events (full timeline blocked for all events and communications) - Budget summary (how to budget for the calendar) Marketing communications objectives - Build awareness and interest - Change consumer perceptions
Image of page 8
- Differentiate product - Attract new markets - Increase usage - Sales promotions, offer incentives - Create goodwill - Create leads - Motivate new distributors Defining the brand - Brand : the sum of all tangible and intangible characteristics that make a unique offer to customers - Brand name - Brand logo (symbol) - Trademark Brand equity - Branding : the use of a name, term, symbol or design, or a combination of these, to identify a product - Brand equity
Image of page 9
Image of page 10

You've reached the end of your free preview.

Want to read all 16 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture