14 STEPS TO CREATE A SUCCESSFUL MARKETING PLAN - PowerPoint PPT Presentation

View by Category
About This Presentation
Title:

14 STEPS TO CREATE A SUCCESSFUL MARKETING PLAN

Description:

To prepare a successful market plan there the essential 14 steps will guide you. Learning the objectives can make your marketing plan assignment a guaranteed success. For more visit: – PowerPoint PPT presentation

Number of Views:59
Slides: 18
Provided by: alice094
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: 14 STEPS TO CREATE A SUCCESSFUL MARKETING PLAN


1
14 STEPS TO CREATE A SUCCESSFUL MARKETING PLAN
  • A marketing plan is part of a business plan and
    consists of a list of actions. Developing a
    marketing strategy is crucial for any business.
    If you want to your business to grow, you must
    have a marketing plan otherwise your effort to
    attract customers will not be fruitful. Here is a
    guide, detailing the process of making a
    marketing plan and the fundamentals of marketing
    strategy.

2
(No Transcript)
3
Step 1 Executive Summary
  • An executive summary is a high-level summary of
    the marketing plan as a whole. As the term
    suggests, you will have to come with a summary of
    your plan. Keep your summary as short as possible
    just a couple of sentences to sum up
    everything, covering each of the sections of your
    marketing plan in brief. When you read it aloud,
    it should not take more than 10 seconds to
    finish. Your executive summary will help in
    giving you and other constituents (e.g.
    employees, advisors etc.) of the company an
    overview of your strategies.

4
Step 2 Situational Analysis
  • In this stage, you will have to describe your
    company in brief, including customer base and
    your market at large. It has five sub-divisions
  • Company analysis
  • Target customers analysis
  • Market analysis
  • Competition analysis
  • Current situation analysis

5
Step 3 Marketing Research
  • This section is implemented in order to spot
  • Information requirements
  • Research methodology
  • Research results

6
Step 4 Marketing Strategy of Product
  • Here we deal with three concepts, namely
  • Unique selling proposition (USP), the critical
    part of product selling that distinguishes your
    company from others competitors
  • Product mix
  • Product strength and weaknesses

7
Step 5 Pricing and Positioning Strategy
  • In this part, you need to describe detailed
    positioning plans of your products and how your
    pricing will support it. If you want your company
    to be known as a premier brand, your pricing
    should be as big as your thought.

8
Step 6 Promotional Strategy
  • Promotion is vitally important for product
    recognition. It includes
  • Deciding promotional goals
  • Determine advertising reach, frequency of
    advertising, theme, and media (television ads,
    online advertising)
  • Considering the alternatives of publicity and
    public relation strategies (trade show, press
    release, and event marketing)

9
Step 7 Distribution Plan
  • In distribution plan, you need to explain how
    your customer will buy from you. Will your
    customers purchase directly from your website or
    will they get your products from the distributors
    or other retailers?

10
Step 8 Offers
  • In this section, you create some unique offers
    that will attract new customers and bring back
    the past customers too. You can try some
    innovative offers like
  • Free trials
  • Money back guarantee
  • Combining different products and services
  • Discount offers

11
Step 9 Marketing Tools
  • Marketing tools are the collateral you use to
    advertise your product to current and prospective
    customers. You can use your website, business
    cards, print brochures and catalogues as your
    marketing materials.

12
Step 10 Conversion Strategy
  • Conversion strategy is the marketing technique to
    turn prospective customers into paying customers.
    In this section, you plan which
    conversion-boosting strategies you desire to use.
    There are many such as improvement of your sales
    script, demonstrating testimonials of past
    satisfied customers etc.

13
Step 11 Partnerships and Joint Ventures
  • You can take up joint ventures and partnerships
    agreements with other organizations in order to
    reach new customer or better monetize existing
    customers. Here you have to be creative about
    your ideas. List such companies that can be
    beneficial to your business in this section of
    the marketing plan and reach out for them.

14
Step 12 Increasing Transaction Prices
  • Transaction prices refer to the amount that
    customers pay when they buy from you. In this
    part, you create plans to increase your
    transaction prices. There are numerous ways to do
    that, such as increasing prices, creating product
    and service packages.

15
Step 13 Retention Strategy
  • With retention strategy, you can increase
    revenues and profits by getting customers to
    purchase from you more frequently over time.
    There are number of ways to do it such as monthly
    newsletter or customer loyalty program.

16
Step 14 Financial Projections
  • This is the final part of your market plan.
    Include all your information documented in your
    marketing plan in your projections. The financial
    projections consist of
  • Assumptions (the promotional expenses you expect
    to incur and what your expected results will be
    in terms of new customers, sales and profits)
  • Pro-forma monthly income statement
  • Contribution margin analysis
  • After accomplishment of financial projections,
    you will set goals for which you company should
    aim at.

17
Are you looking for Assignment Help with 100
accuracy, My assignment help .com have 3000
Professional Writers are here to help with your
Assignment Writing also provide 247 Online
Support. Order your assignment from
myassignmenthelp.com How MyAssignmenthelp.com
can help students in marketing assignments? At
MyAssignmenthelp.com, you will meet proficient,
creative and outstanding marketing assignment
writers. These experts are capable of writing any
type of assignment for you. We guarantee quality
as well as reasonable price. If you want to know
about the essentials of marketing assignment
writing, you can refer to our free samples. Our
professional writers do not plagiarize they
produce 100 percent unique, informative and
well-documented assignments. If you have any
queries, get in touch with our customer support
executives via phone, e-mail or instant chat.
About PowerShow.com