MARKETING PLANNING

MARKETING PLANNINGPresented by:Sweksha Shah

WHAT IS A MARKET PLAN FOR?

To summarize marketplace knowledgeTo show what marketing will accomplishTo detail marketing strategies, activitiesTo show how progress will be measuredTo explain implementation control

DEFINITION Amarketing planis a comprehensive blueprint which outlines an organization's overallmarketingefforts. Amarketingprocess can be realized by themarketingmix.

PROCESS OF MARKETING PLANNING

Situtation Analysis:SWOT analysis in marketing is almost the same thing as a normalSWOT analysis. In this case, you do the analysis to formmarketing strategies. SWOT analysis in marketing will help you decide which marketing strategy you should use to get the best result for your business. The strategy will help you to capitalize on theopportunitiesusing all the strengths. It will also help to avoid the threats and minimize the weaknesses.

Objectives:Marketing objectivesare goals set by a business when promoting its products or services to potential consumers that should be achieved within a given time frame. In other words, marketing objectives are the marketing strategy set in order to achieve the overall organizational objectives. A company's marketing objectives for a particular product might include increasing product awareness among targeted consumers, providing information about product features and reducing consumer resistance to buying the product.

Marketing Strategy:Amarketing strategywill help you focus. It will identify the different ways you can talk to your customers, and concentrate on the ones that will create most sales.It tells you what to say, how to say it and who to say it to in order to make more sales. Because timing is critical, it will tell you when to say it, too.

Implementation Programme:Once your company has the marketing strategy in place, you may need expert implementation.Many of our clients are able to take the marketing plan and run with it. As soon as the details are clear, theyre ready and able to execute. However, thats not universally true. Some companies need ongoing consulting to implement their marketing plan.

Budget:Many small businesses make the mistake of limiting their marketing budget to marketing communications costs such as advertising, public relations, direct mail and promotions. A true marketing plan includes the upfront planning, communications expenditures and ongoing monitoring and tracking of your marketing efforts. Include all three components of a marketing strategy in your budget plan to spend your dollars with maximum efficiency and generate maximum sales.