Marketing Plan

Marketing “The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” Copyright © 2007 Pearson Education Canada 1-1

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Marketing Past and Present Over time the orientation of business has changed: Production Sales Marketing Social Responsibility Copyright © 2007 Pearson Education Canada 1-2

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Marketing Concept “To determine the needs and wants of a target market and then deliver a set of satisfactions in such a way that the product (a good or service) is perceived as better value than the competition.” Copyright © 2007 Pearson Education Canada 1-3

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Socially Responsible Marketing Socially Responsible Marketing Enhance society Identify and Deliver satisfaction through good Satisfy better than the corporate Consumer needs competition citizenship Copyright © 2007 Pearson Education Canada 1-4

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Socially Responsible Marketing SRM can be divided into two main areas: 1. Programs that conserve, preserve, and protect the environment 2. Programs that support causes (cause marketing) Copyright © 2007 Pearson Education Canada 1-5

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The Marketing Process Needs Identify and Select Develop Assessment Target Market Marketing Strategy — Product Evaluation Price and Distribution Control Mar. Com. Marketing (Full Scale) Test Marketing Copyright © 2007 Pearson Education Canada 1-6

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Marketing Mix Marketing Mix Product Price Mar. Com. Distribution Consumer Public Image Copyright © 2007 Pearson Education Canada 1-7

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Product Strategy A product may possess tangible and intangible characteristics. Product decisions are numerous and embrace:  Quality  Size and Format  Features  Service  Brand Name  Guarantees Copyright © 2007 Pearson Education Canada 1-8

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Product Differentiation “A strategy that focuses marketing activity on the unique attributes or differential advantages of a brand in order to distinguish it from other brands. Visa…All you need Tim Hortons…Always Fresh Copyright © 2007 Pearson Education Canada 1-9

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Price Strategy Establishing a fair and equitable price for consumers while being profitable for the organization. Wal-Mart…Everyday low prices. Always. Copyright © 2007 Pearson Education Canada 1-10

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Price Strategy A host of factors are considered when establishing price:  Cost of manufacturing  Desired profit level  Location of customer  Degree of competition Copyright © 2007 Pearson Education Canada 1-11

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Distribution Strategy The selection and management of marketing channels and the physical distribution of products. A marketing channel is a series of firms that participate in the flow of goods and services from producers to final users. Producer Distributors Users Copyright © 2007 Pearson Education Canada 1-12

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Distribution Strategy Essential distribution decisions include:  Mode of transportation  Degree of coverage in a market  Use of direct channels and/or indirect channels  Relationship-building programs with channel members Copyright © 2007 Pearson Education Canada 1-13

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Marketing Communications Strategy Companies now employ “integrated marketing communications” strategies. Advertising Public RelationsSales Promotion Consumer or Event Marketing Final User Direct Response Interactive Personal Selling Coordination and integration creates more impact. Copyright © 2007 Pearson Education Canada 1-14

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Marketing Communications Strategy Traditional forms of communications are now integrating with new forms of communications. Traditional New TV Sponsorships Radio Online ↔ Outdoor Text Messages Print Buzz Copyright © 2007 Pearson Education Canada 1-15

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Public Image A good reputation is an important asset and reputation is earned through good marketing.  Customer Sensitivity  Community Support  Social Responsibility Marketing Copyright © 2007 Pearson Education Canada 1-16

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Evaluation and Control An organization measures the results of a marketing strategy against the objectives that were established. Test marketing prior to a Objectives national rollout Sales Surveys to uncover new Market Share needs and trends Profit Periodic financial reviews (actual versus plan) Copyright © 2007 Pearson Education Canada 1-17

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Relationship Marketing Model Suppliers Producer Wholesaler Retailer Consumer  Common needs and joint objectives are established  Each stakeholder is a partner in a long-term relationship  Teamwork and cooperation replace conflict and competition  Investment in technology required Copyright © 2007 Pearson Education Canada 1-18

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