...Guide: Building a Marketing Plan Step-By-Step Guide to Building a Marketing Plan KapConsultants By Sean Doyle and Martin McDermott AB/MT219: Marketing 6/20/2012 Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental. Page 1 Step-By-Step Guide: Building a Marketing Plan Marketing Plan Manual The marketing plan is an integral part of an organizations’ strategy for success. The overall goal of a Marketing Plan is to ensure the business will be profitable. The marketing planning process involves building a strategy for getting products and services to market in a meaningful, cost effective, and profitable way. This manual provides an outline of a basic Marketing Plan, using a descriptive format to guide the development of your final project. Pay close attention to the layout of the marketing plan outline. You will need to format your marketing plan using the same format. Marketing is an all-encompassing discipline, and quite literally, affects every aspect of a business. In fact, marketing has a profound impact on society as a whole, and the life of every individual. For this reason, learning the fundamentals of marketing and how to develop a basic marketing plan is essential to your success as a business professional and savvy consumer. The marketing planning process consists of a set of activities centred on delivering a quality product or service, intended...
Words: 3190 - Pages: 13
... Paper Code : BBA-203 Paper Title : Marketing Management Q.1.1 What do you understand by Marketing ? A.1.1 Marketing is the process of communicating the value of a product or service to customers. Marketing might sometimes be interpreted as the art of selling products, but selling is only a small fraction of marketing. As the term "Marketing" may replace "Advertising" it is the overall strategy and function of promoting a product or service to the customer. *********************************************************************************************************************************************************************************************** Q.1.2 What are the components of marketing mix ? Q.1.2 1. Product. The Product area is concerned with developing the right "product" for the target market. This offering may involve a physical good, a service, or a blend of both. Keep in mind that Product is not limited to "physical good". 2. Place.Place is concerned with all the decisions involved in getting the "right" product to the target market's Place. A product isn't much good to a customer if it isn't available when and where it's wanted. A product reaches customers through a channel of distribution. (A channel of distribution is any series of firms - or individuals - from producer to final user or consumer.) 3. Promotion.The third P - is concerned with telling the target market about the "right" product. Promotion includes personal selling, mass selling...
Words: 5117 - Pages: 21
...BUAD479 Chapter Outlines: Chapter 1: * Marketing is an organizational function and a collection of processes designed to plan for, create, communicate, and deliver value to customers and to build effective customer relationships in ways that benefit the organization and its stakeholders * Marketing explained: * Distinct activity in an organization- marketing department * Set of tasks, such as assembling, pricing and promoting, which may or may not be performed by the department that results in products, services, ideas, ad other tangible and intangible items * These items produce profits or achieve stated goals for an organization * Profits achieved by creating value for customers * Creation of value- realization of the benefits that are at parity or that exceed the cost of products, services, etc. * Customers search for value on a daily basis when making buying decisions * Marketing has roots in economics, psychology, sociology, and statistics * Economics- borrowed the idea of utility- satisfaction received from owning or consuming a product or service * Value that consumers attach to the products * Supply and demand for products influence price, production costs influence supply, and utility influences demand * If consumers perceive that a product has utility-> inclined to consider purchasing it * Need- necessity to meet an urgent requirement * Want- desire...
Words: 1365 - Pages: 6
...Appendix SONIC MARKETING PLAN AND EXERCISES The Marketing Plan: An Introduction As a marketer, you’ll need a good marketing plan to provide direction and focus for your brand, product, or company. With a detailed plan, any business will be better prepared to launch an innovative new product or increase sales to current customers. Nonprofit organizations also use marketing plans to guide their fund-raising and outreach efforts. Even government agencies put together marketing plans for initiatives such as building public awareness of proper nutrition and stimulating area tourism. The Purpose and Content of a Marketing Plan A marketing plan has a more limited scope than a business plan, which offers a broad overview of the entire organization’s mission, objectives, strategy, and resource allocation. The marketing plan documents how the organization’s strategic objectives will be achieved through specific marketing strategies and tactics, with the customer as the starting point. It is also linked to the plans of other organizational departments. Suppose a marketing plan calls for selling 200,000 units annually. The production department must gear up to make that many units, finance must arrange funding to cover the expenses, human resources must be ready to hire and train staff, and so on. Without the appropriate level of organizational support and resources, no marketing plan can succeed. Although the exact length and layout varies from company to company, a marketing plan usually contains...
Words: 7341 - Pages: 30
...MARKETING CONCEPT? * A)What is marketing? * * What exactly is marketing and why is it important to you as a MANAGER? Simply stated, marketing is everything you do to place your product or service in the hands of potential customers. * It includes diverse disciplines like sales, public relations, pricing, packaging, and distribution. In order to distinguish marketing from other related professional services, S.H. Simmons, author and humorist, relates this anecdote. * "If a young man tells his date she's intelligent, looks lovely, and is a great conversationalist, he's saying the right things to the right person and that's marketing. If the young man tells his date how handsome, smart and successful he is — that's advertising. If someone else tells the young woman how handsome, smart and successful her date is — that's public relations." * You might think of marketing this way. If business is all about people and money and the art of persuading one to part from the other, then marketing is all about finding the right people to persuade. * Marketing is your strategy for allocating resources (time and money) in order to achieve your objectives (a fair profit for supplying a good product or service). * Yet the most brilliant strategy won't help you earn a profit or achieve your wildest dreams if it isn't built around your potential customers. A strategy that isn't based on customers is rather like a man who knows a thousand ways to make...
Words: 1262 - Pages: 6
...What is Marketing MKT 421 What is Marketing What exactly is marketing and why is it important to you as an entrepreneur? Simply stated, marketing is everything you do to place your product or service in the hands of potential customers. It includes diverse disciplines like sales, public relations, pricing, packaging, and distribution. In order to distinguish marketing from other related professional services, S.H. Simmons, author and humorist, relates this anecdote. "If a young man tells his date she's intelligent, looks lovely, and is a great conversationalist, he's saying the right things to the right person and that's marketing. If the young man tells his date how handsome, smart and successful he is -- that's advertising. If someone else tells the young woman how handsome, smart and successful her date is -- that's public relations." You might think of marketing this way. If business is all about people and money and the art of persuading one to part from the other, then marketing is all about finding the right people to persuade. Marketing is your strategy for allocating resources (time and money) in order to achieve your objectives (a fair profit for supplying a good product or service). Yet the most brilliant strategy won't help you earn a profit or achieve your wildest dreams if it isn't built around your potential customers. A strategy that isn't based on customers is rather like a man who knows a thousand ways to make love to a woman, but doesn't know any women...
Words: 1340 - Pages: 6
...Appendix SONIC MARKETING PLAN AND EXERCISES The Marketing Plan: An Introduction As a marketer, you’ll need a good marketing plan to provide direction and focus for your brand, product, or company. With a detailed plan, any business will be better prepared to launch an innovative new product or increase sales to current customers. Nonprofit organizations also use marketing plans to guide their fund-raising and outreach efforts. Even government agencies put together marketing plans for initiatives such as building public awareness of proper nutrition and stimulating area tourism. The Purpose and Content of a Marketing Plan A marketing plan has a more limited scope than a business plan, which offers a broad overview of the entire organization’s mission, objectives, strategy, and resource allocation. The marketing plan documents how the organization’s strategic objectives will be achieved through specific marketing strategies and tactics, with the customer as the starting point. It is also linked to the plans of other organizational departments. Suppose a marketing plan calls for selling 200,000 units annually. The production department must gear up to make that many units, finance must arrange funding to cover the expenses, human resources must be ready to hire and train staff, and so on. Without the appropriate level of organizational support and resources, no marketing plan can succeed. Although the exact length and layout varies from company to company, a marketing plan usually contains...
Words: 7341 - Pages: 30
...Qualification | Unit number and title | Pearson BTEC Level 5 HND Diploma in Business(QCF) | UNIT 18:Advertising and Promotion in Business Level 4 | Student name and ID number | Assessor name | | Tatah Amenonyoh | Date issued | Completion date | Submitted on | 18th September 2015 | 13th December 2015 by 5.00pm | | Internal Verifier | Dr George Panagiotou | Assignment title | Westfield-Stratford City | Instructions | * An electronic copy of your assessment must be fully uploaded by the deadline date and time. * You must submit one single PDF or MS Office Word document. Any relevant images or screenshots must be included within the same MS Office Word or PDF document. * The last version you upload will be the one that is marked. Your paper will be marked if you have indicated this as your final submission. * Review the mitigating circumstances policy for information relating to extensions. * The file size must not exceed 20MB. * Answer the criteria in order, clearly indicating the pass criteria number. * Ensure that all work has been proof-read and checked prior to submission. * Ensure that the layout of your documents are in a professional format with font style Arial, font size 12 for the text, font 14 for sub heading and font 16 for main heading, line spacing 1.5 and justified. * Use the Harvard referencing system; otherwise it will be considered as plagiarised work. * Ensure that you back-up your work regularly and apply version control...
Words: 4753 - Pages: 20
...head: KUDLER'S MARKETING PLAN 1 Kudler's Marketing Plan Kathy Kudler had an idea and transformed that idea into what is known today as Kudler Fine Foods. Starting up a business can be a difficult task and so can future growth of that same business. As of present, Kathy has again had an idea and started the transition to implement catering services. In an effort to make this business venture successful, Kathy has to consider several marketing strategies that not only benefits the company in the immediate but also creates future growth and stability of revenue in the long term. Three Pieces of Market Research Kudler Fine Foods (KFF) marketing strategy will require the “organizational function and a set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders” (p. 8). Based on that conclusion a market consists of potential customers with desires and ability to buy specific products. Through the three pieces of marketing research KFF will “define the marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions” (Kerin, Hartly, Berkowitz, & Rudelius, 2006, p. 205). Consumer and Company This organization will link the consumer and the company through information to identify and define marketing opportunities, and problems by reducing risks and uncertainty to improve decisions made by the marketing managers. KFF...
Words: 1891 - Pages: 8
...2. BCG Matrix and Marketing Plan * Boston Consulting Group approach: a company classifies all its SBU’s according to the growth-share matrix * Growth share matrix: a portfolio planning method that evaluates a companies strategic business units (SBU’s) in terms of its market growth rate and relative market share * Market growth rate: provides a measure of market attractiveness * Relative market share: serves as a measure of company strength in the market * Four types of SBU’s: * Stars high growth, high share businesses or products * Cash cows low growth, high share businesses or products * Question marks low share business units in high growth markets * Dogs low growth, low share businesses and products * PROBLEMS: can be difficult, time consuming and costly to implement * Management may find it difficult to define SBU’s and measure market share and growth * Focus on classifying current businesses but provide little advice for future planning * Marketing plan: deciding on marketing strategies that will help the company attain its overall strategic objectives * Marketing strategy: consists of specific strategies for target markets, positioning, the marketing mix and marketing expenditure levels – how a company intends to create value for target customer to capture value in return * Detailed marketing plan is needed for each business, product or brand * Plan begins with executive summary...
Words: 2924 - Pages: 12
...YOUR MARKETING PLAN To purchase this, Click here http://www.activitymode.com/product/mkt-500-assignment-2-part-b-your-marketing-plan/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 500 ASSIGNMENT 2 PART B (YOUR MARKETING PLAN) Assignment 2: Part B: Your Marketing Plan Company’s Mission Statement and Company Introduction Company Introduction The name of the hypothetical company is Fresh Drinks Company. The core business of the company is to prepare and serve fresh drinks to a variety of customers across America and the international market. The idea to start the company can be attributed to the changes in health life styles in the recent world (Ferrell, 2014). Carbonated drinks such as Coke are decreasing in popularity. Many of the soft drinks consumers are now conscious of their health, and on the effects of the carbonated soft drinks. This led to the creation of the company to take advantage of the growing market for the non-carbonated drinks. The headquarters of the company is in Orlando, Florida. Since its inception, the company has witnessed substantial growth in its market share and expansion into the global soft drink market. The long-term plan of the company is to expand into the international market. On the other hand, the short-term plan is to increase its daily capacity to meet the ever in ... MKT 500 ASSIGNMENT 2 PART B – YOUR MARKETING PLAN To purchase this, Click here http://www.activitymode.com/product/mkt-500-assignment-2-part-b-your-marketing-plan/ ...
Words: 1136 - Pages: 5
...History of Marketing: Theoretical Perspectives & Evolution Over the decades, marketing is one of the major aspects of business that has evolved the most. The only factor that is guaranteed to remain constant with marketing is change. The early 1900s introduced the idea of marketing and initially, most businesses dealt with marketing by simply creating new ways to sell their products as quickly as possible with little attention dedicated to the consumer. Marketing was once viewed as a term used to define advertising and selling of products, and consumers grew tired of this marketing mindset when competition become more prominent. Eventually, companies caught on to this and realized they must re-invent their marketing strategies for the overall well-being of their business. Many may still mistakenly view marketing as the simple act of advertising products, however the term has certainly evolved and been redefined as the entire process of conducting marketing research, defining problems, developing research plans, collecting information, analyzing and presenting the information, and ultimately making the best decision for the company. The American Marketing Association (AMA), created in 1937, has played a major role in the advancement of marketing. Just a few years later, in 1940, the AMA already had 817 members and 11 chapters. Another early contributing factor was the marketing mix, an idea proposed by Neil H. Borden in 1950, which was a mix of controllable marketing variables...
Words: 815 - Pages: 4
...what competitive spheres (industry, products and applications, competence, market-segment, vertical, and geographic) should Sonic operate? • Which of Porter’s generic competitive strategies would you recommend Sonic follow in formulating its overall strategy? Chapter 3 Scan Sonic’s external environment for early warning signals of new opportunities and emerging threats that could affect the success of the Sonic 1000 Smartphone. Using Internet or library sources (or both), locate information to answer three questions about key areas of the macroenvironment. • What demographic changes are likely to affect Sonic’s targeted segments? • What economic trends might influence buyer behavior in Sonic’s targeted segments? • How might the rapid pace of technological change alter Sonic’s competitive situation? Chapter 4 Your next task is to consider how marketing research can help Sonic support its marketing strategy. How can Sonic can measure results after the marketing plan is implemented. She wants you to answer the following three questions. • What surveys, focus groups, observation, behavioral data, or experiments will Sonic need to support its marketing strategy? Be specific about the questions or issues that Sonic needs to resolve using marketing research. • Where can you find suitable secondary data about total demand for Smartphones over the next two years? Identify at least two sources (online or off-line), describe what you plan to draw from each source, and indicate...
Words: 1767 - Pages: 8
...Table of Contents Serial No 1. Task1 Introduction 2. Marketing: Definition Topic Introduction Marketing: Definitions Page No 1. A REPORT OF THE MARKETING DEPARTMENT TO THE CHAIRMAN OF TESCO DATED: 08/10/2013 Lo1.0 INTRODUCTION The ideals of a detailed marketing plan demand a critical approach. The marketing processes, the market environment variables are essentially relevant to the overall ideals of a campaign. In this study it will be important to ascertain certain definitions which are fundamental to the study. According toAMA (1985) marketing involves the ideals of planning and execution of the concept, pricing strategies, promotional tactics, and the distribution of ideas, commodities and services and the creation of exchange and the satisfaction of objectives. Pettinger(2002) states that the ideals of marketing encompasses the offering of goods and services to the buyer at a price to achieve profit.CIM(2001) insists that marketing is managerial in nature and it involves the activities of identification, anticipation, and the satisfaction of customer needs with the intension of making profit, DISCUSSION/FINDINGS LO1.1 MARKETING PROCESSES Kotler, Amstrong, Saunders and Wong (1999) explain that the market process involves activities of critical analysis of the market. This involves the system of analyses regarding the market. Lancaster (1998) suggests that the marketing process consist of the Strategic market analysis This encompasses...
Words: 3964 - Pages: 16
...3 Creative Business Ideas and Marketing Plan Uber: - Uber Technologies is an American International transportation company founded in the year 2009. As it’s a major creative business idea across the globe within a span of six years, uber entourage it’s services to 58 countries and 300 cities worldwide. Uber has set a trend for transportation and made several other companies to copy its business model and created business idea referred to as “Uberification”. Uber is now one of major trending creative business ideas in India to start with giving a drive across the major cities. As per CNN Money India is Uber's second biggest market after the US as the marketing plan it is going to pour one billion dollar into its market operations over the next...
Words: 777 - Pages: 4
