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Marketing Plan.pptx
- 1. Marketing Plan By: JasmineMiles This Photo by Unknown Author is licensed under CC BY
- 2. What is aMarketing Plan? The marketing plan details the strategy that a company will use to market its products to customers. The plan identifies the target market, the value proposition of the brand or the product, the campaigns to be initiated, and the metrics to be used to assess the effectiveness of marketing initiatives This Photo by Unknown Author is licensed under CC BY
- 3. Marketing Plan Basics There are roughly ten things that should be done and implemented when creating a business’s marketing plan. Including: - The initial market research - Target Market - Product - Competition - Mission Statement - Market Strategies - Pricing and positioning - Budget - Marketing Goals - Monitor your results
- 4. Marketing Research Marketing Researchis predominately about collecting, organizing and writing down data about the market that is currently buying the product and services your business will provide. Some commo areas to consider: • - Market dynamics and patterns, including seasonality • Customers: demographics, market segment, target markets, needs, and buying decisions • Product: what’s out there now and what the competition’s offering • Current sales in the industry • Benchmarks in the industry • Suppliers: vendors that you’ll need to rely on This Photo by Unknown Author is licensed under CC BY-SA-NC
- 5. Target Market Onceyou understand your target market, find niche for your product and describe them. This Photo by Unknown Author is licensed under CC BY-NC-ND
- 6. Product This isyour chance to describe your product. How does this relate to thr market? Or the environment? What does your market need or what do they currently use? These questions are important in finding what they need above and beyond current use. This Photo by Unknown Author is licensed under CC BY
- 7. Competition Describe yourcompetition. How does your product differ from your competition? How is your competiion doing about branding their product or service? This Photo by Unknown Author is licensed under CC BY-NC-ND
- 8. Mission Statement Yourmission statement is one of the most important steps of a marketing plan. This statement should answer the key market of who your selling to, what’s being sold and your businesses unique selling proposition. This Photo by Unknown Author is licensed under CC BY-NC-ND
- 9. Marketing Strategies &Pricing It is necessary to write down the marketing and promotion strategies that you want to use or at least consider using. Some strategies include: • Networking • Direct marketing with brochures, flyers and letters • Advertising in print media • Training programs etc. Once this information is collected, you can estavblish strategies for determining the price of your product, where it will be positioned in the market, and how you will achieve awareness. This Photo by Unknown Author is licensed under CC BY-SA
- 10. Budget & MarketingGoals It is crucial to budget your money. Knowing what strategies your business can afford and what you can do and provide in-house and what is needed for outsourcing. Establishing reasonable marketing goals. Your goals can be as small as increasing clientele by 30 members by the end of the year. These goals can include profits, sales, or even customer satisfaction.
- 11. Monitoring Your Results Test and analyze to see what strategies are working. You can do this by surveying customers, tracking sales, and even visitors to your site. Promoting your product or service places your business in an advantage when dealing with your competition. Overseeing your marketing campaign, you can understand whether the strategies are creating positive results. This Photo by Unknown Author is licensed under CC BY-SA- NC