Marketing Planning

How to Develop a Practical Marketing Plan

Tourism Enterprises

Hillary Jenkins, Otago Polytechnic 2008

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Tourism Enterprises

http://flickr.com/photos/ahron/215288622/in/photostream

Marketing PlanningHow to Develop a Practical

Marketing Plan

Market Planning

• Planning for the future helps ensure there is one

• What every organisation should be asking

• Where are we now?

• Where should we be or do we want to be?

• How do we get there

‘Why Plan?

• Provides clear set of actions

• Helps establish priorities

• Action prompt for others

• Sets measurable goals

• Helps with budgeting

• Sells new and innovative products

• Gives the organisation continuity

• Test against overall organisations strategy

• Provides a sense of control

Key Elements

1. Statement of Purpose

2. Situation Analysis

3. Marketing & Organisations Objectives

4. Overall Marketing Strategy

5. Marketing Mix Tactics

6. Market Research Program

7. Financials

8. Timing

9. Measuring Results

10. Appendices

– The Organisation

– Target Markets (Segments)

– Customers needs and wants

– Key factors for success

– Competitor analysis

– Market trends

• Social

• Environmental

• Economic

• Regulatory

– SWOT

• Strengths & Weaknesses

• Opportunities & Threats

• Assumptions

• Key issues

2. Situation Analysis“Where are we now?”

3. Objectives

• 12 months

• 5 years (longer term)

• Should be:

– written

– specific

– time bounded

– measurable

– believable and achievable

• Shorter term objectives should dovetail into longer term objectives

4. Marketing Strategy/ies• How will we get there generally

– Product strategies eg.

new markets/segments for existing products

– core business

– new products for existing market

– totally new product

– Product mix strategies eg.

– products/services that always sell well

– products or services that are currently experiencing high uptake

– Products or services where demand has gone

– Positioning Strategy eg. price

– cheapest

– most expensive

– best value for money

– middle of the road

– Competitive

– Cost leadership

– focus

– differentiation

5. Tactics• “How will we get there specifically”

– Product

– Price

– Promotion

– Advertising (include Internet)

– Direct marketing eg. mail order

– Sales Promotion

– Personal Selling

– Publicity

– PR (incl. Sponsorship)

• Message

• Media

– (Place) Distribution

6. Market Research

“What information do we need?”

– Customer Feedback

• Awareness

• satisfaction

– Your own organisations performance

•

– The Market

• Primary

• Secondary

• Research Continually

• Make use of 3rd party research

• Research is time & money well spent!

7. Financials

• Marketing Budget

• Previous P & L statements

• Member/Sales forecast

• Cash flow forecast/s

• Projected P & L

• Capital expenditure forecast

Consider alternative scenarios eg. optimistic, pessimistic, realistic

8. Timing

• Plan your activities well in advance

• Always look several months ahead and refine/update as you go. Do NOT leave things until the last minute!

• Assign responsibilities

• Time your spending (cash flow)

• Plan for capacity vs sales

– graph

– consider whether it is cost effective to target down-times

9. Measuring Results“How will we know if we got there, and if not, why not?”

• Record feedback

– ‘Code’ adverts

– Record where people heard about you

• questionnaire

• phone

– encourage feedback

• Measure cost-effectiveness

– consider flow-on effect

10. Appendices

• Income statement

• Member number growth

• Advertising copy

• Manufacturing/supply cost estimates

• Legal approvals (eg. copyright)

Tips

• Be realistic

• Be consistent

• Be relevant

• Involve all your staff and members (and even some of your best customers!)

• Be flexible

• Read widely

• Be ‘objectives-specific’

• Use as ‘work-in progress’