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Casual Articles - Marketing Plan To Copy - A Marplan Is Like A Map To Your Profits
Often folks build in redundancy for systems just in case Murphy Strikes and he will. The more complicated a system is the more possibilities of system failure of one of its components. In aviation we discuss multi-engine aircraft and what happens if you are in a single engine aircraft and the engine quits; then it would sure be nice to be able to keep going on the remaining engine right? Sure, makes sense right?Indeed and now lets take a four engine plane; with four engines there is 4 times the chance of one of the engines quitting and that means once you do land you cannot fly it until it is fixed. Bummer and there fore some might contend that redundant systems add too much costs and can reduce efficiency and cause a worsened situation over all.Fore if the single engine aircraft’s engine is running rough, well don’t fly it! Indeed who could argue with that logic. Nevertheless, in reality some redundancies are needed in systems built by the lowest bidder by humans obviously. But even consider the human error problem aside Arthur C Clarke often discussed the Ramans Race and their triple redundancy, which often got them out of a jam too.Systems which can re-route things work best. For instance look at transportation in the United States of America. If a train track has a landslide on it, the freight can be re-routed on other tracks or go by truck. If a highway over pass is out the freight can go by train, the important stuff by plane. Redundancies matter.Additionall
1.3 Team description
Who will deliver the plan? What are the resources and structure of the team who will do so? Management skills and capabilities. List any Marketing knowledge, sales skills, copy-writing ability, etc. Agencies - Include any Marketing consultants, PR agencies you are using.
If there are any gaps honestly point them out and do a Training Needs Analysis.
1.4 Main marketing objectives
You need only give a brief statement of these here to close the Executive summary.
2.1 Current market conditions
What are the trends in your market? What are the dynamics facing businesses such as yours? Who are your target customers? What competition do you face?
2.2 Market trends:
You should describe the macroeconomic trends that directly affect the target market that your marketing plan is aimed at. This is where the PEST Framework is useful to include. (Sometimes referred to as PESTEL, SLEPT or PESTE) the components are: Political Economic Social Technological Environment Legal<
Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas.There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted.Incubation and InsightTwo of the most common terms in the field of creativity include Eureka! Or Aha! Often these terms are used to describe that moment when an idea has occurred “out of the blue.” This whole set of terminology and the inherent assumptions are misleading.a) Ideas do not occur out of the blue. The mind works on various problems at various cognitive levels. Aha or Eureka is the moment when solutions to problems become conscious. If Newton did discover gravity while sitting under an apple tree, it is because his mind was engaged with the topic of planetary motion and the memes of his times.b) The process of allowing the mind to work on various problems is calle incubation. Allowing incubation
When you overdraft or financing facilities come up for renewal and your bank manager has to justify lending the bank's money to your business, think how much easier it would be to convince him to continue backing you with a plan laid out in neat systematic form.
It is probably the case that far too many small companies don't have a Marketing Plan, or the owner has it locked in his head. A place of storage that is really difficult to access when you need to show it to the potential investor or the bank manager. And inevitably this event usually occurs when you are really busy and committing your plan to paper, or computer file, is added pressure that you really could do with out. I run a small retail business - an independent bookshop and a Collectables gift business on the Internet.
Recently I studied for, and obtained, the UK's Chartered Institute of Marketing's "Professional Diploma in Marketing" by doing a convergent learning course on the net and in four intensive workshop days in my local town. It brought home to me that what we did in our own business was fine up to a point. As the course was very practical, with the chance to use any organisation of the student's choice in the assignments that we had to submit, I ended up formally setting down the Marketing Plan on paper, that had been up there in my head for no one to see!
So what is a Marketing Plan for?
Well, its purpose is to lay down, direct and co-ordinate all your marketing activities and events. Think of it as a map. With a map it is easier to get some place. With a marketing plan it is easier to get the business to where you want it to head. This is, hopefully, to huge profits!
Perhaps you are the owner or director of a company seeking backing or further investment? Well a good marketing plan can be really important in attracting new investment or better bank facilities.
Perhaps you need help in making choices regarding which parts of the market to focus on and how to compete in that target market (Marketing Strategy)?
Often the mere process of preparing a marketing plan will help you to develop a successful marketing strategy through the discipline and process that you go through.
A good marketing plan will describe all the marketing actions to be carried out within a specific time period. It will contain details of your company, its products or services, its marketing objectives and strategies and information on how to measure the results of the marketing activities.
It might help if I give you a framework of basic elements that a Marketing Plan should include.
Basic Elements of a Marketing Plan
So what do you need?
1.Executive Summary - introduces and explains the major features and recommendations to executives (or your bank manager).
1.1 Introduction - a brief description of your organisation, its products and or services.
The context and objectives of the plan should be described and a description of what your business activities are. You should include current revenues, customers and your market position. You can also blow your own trumpet here! Note your accomplishments and successes to date. If it is a new market entry or entirely new markets you are going for, then here is the place to describe any experience, training or competencies that your company has.
1.2 Vision, Mission Statement and Objectives
Mission statements focus on the long-range purpose of your marketing plan. "To educate entertain and enlighten our clients so that they become more successful Marketers." Company objectives should be more specific and oriented towards action. "We will deliver a balanced range of Marketing Solution Publications to the U.K. and Europe through mail order and Internet."
1.3 Team description
Who will deliver the plan? What are the resources and structure of the team who will do so? Management skills and capabilities. List any Marketing knowledge, sales skills, copy-writing ability, etc. Agencies - Include any Marketing consultants, PR agencies you are using.
If there are any gaps honestly point them out and do a Training Needs Analysis.
1.4 Main marketing objectives
You need only give a brief statement of these here to close the Executive summary.
2.1 Current market conditions
What are the trends in your market? What are the dynamics facing businesses such as yours? Who are your target customers? What competition do you face?
2.2 Market trends:
You should describe the macroeconomic trends that directly affect the target market that your marketing plan is aimed at.
This is where the PEST Framework is useful to include. (Sometimes referred to as PESTEL, SLEPT or PESTE) the components are:
Political
Economic
Social
Technological
Environment
Legal Payroll Service, Changing Providers - Chapter Two: What Should you Look for in a New Provider?
Service
Technology
Professionalism
Cost
Location
Service. Can your new provider handle your unique needs? You can only ask. But don’t just take their word. Ask for references in your size and type of business. Smaller providers may only be able to get close but that is OK. You’re concerned about how, not what, service is provided. Ask the references for other reference back to the provided that they did not provide you with. That is where you may get your best information. But in all fairness, remember the old adage “You can’t make all of the people happy all of the time.”Technology. Is the provider up to date on payroll technology? It is hard for the major payroll providers to upgrade a system for hundreds of thousands of users. They will always be slower to change just because of size and inertia. The very small payroll service providers can’t afford the newest technology. You also don’t want bleeding edge technology just leading edge. Currently (and this changes all the time) you want to talk about paperless payroll, online payroll, payroll debit cards and employee self-service. There are other topics that will apply to your unique circumstances.Professionalism. How long as the company been in business? Are they a fly-by-night outfit and will disappear with your tax deposits. Do they have standing in the community? Are they an EFTPS batch filer meaning they have a
Recently I studied for, and obtained, the UK's Chartered Institute of Marketing's "Professional Diploma in Marketing" by doing a convergent learning course on the net and in four intensive workshop days in my local town. It brought home to me that what we did in our own business was fine up to a point. As the course was very practical, with the chance to use any organisation of the student's choice in the assignments that we had to submit, I ended up formally setting down the Marketing Plan on paper, that had been up there in my head for no one to see!
So what is a Marketing Plan for?
Well, its purpose is to lay down, direct and co-ordinate all your marketing activities and events. Think of it as a map. With a map it is easier to get some place. With a marketing plan it is easier to get the business to where you want it to head. This is, hopefully, to huge profits!
Perhaps you are the owner or director of a company seeking backing or further investment? Well a good marketing plan can be really important in attracting new investment or better bank facilities.
Perhaps you need help in making choices regarding which parts of the market to focus on and how to compete in that target market (Marketing Strategy)?
Often the mere process of preparing a marketing plan will help you to develop a successful marketing strategy through the discipline and process that you go through.
A good marketing plan will describe all the marketing actions to be carried out within a specific time period. It will contain details of your company, its products or services, its marketing objectives and strategies and information on how to measure the results of the marketing activities.
It might help if I give you a framework of basic elements that a Marketing Plan should include.
Basic Elements of a Marketing Plan
So what do you need?
1.Executive Summary - introduces and explains the major features and recommendations to executives (or your bank manager).
1.1 Introduction - a brief description of your organisation, its products and or services.
The context and objectives of the plan should be described and a description of what your business activities are. You should include current revenues, customers and your market position. You can also blow your own trumpet here! Note your accomplishments and successes to date. If it is a new market entry or entirely new markets you are going for, then here is the place to describe any experience, training or competencies that your company has.
1.2 Vision, Mission Statement and Objectives
Mission statements focus on the long-range purpose of your marketing plan. "To educate entertain and enlighten our clients so that they become more successful Marketers." Company objectives should be more specific and oriented towards action. "We will deliver a balanced range of Marketing Solution Publications to the U.K. and Europe through mail order and Internet."
1.3 Team description
Who will deliver the plan? What are the resources and structure of the team who will do so? Management skills and capabilities. List any Marketing knowledge, sales skills, copy-writing ability, etc. Agencies - Include any Marketing consultants, PR agencies you are using.
If there are any gaps honestly point them out and do a Training Needs Analysis.
1.4 Main marketing objectives
You need only give a brief statement of these here to close the Executive summary.
2.1 Current market conditions
What are the trends in your market? What are the dynamics facing businesses such as yours? Who are your target customers? What competition do you face?
2.2 Market trends:
You should describe the macroeconomic trends that directly affect the target market that your marketing plan is aimed at. This is where the PEST Framework is useful to include. (Sometimes referred to as PESTEL, SLEPT or PESTE) the components are: Political Economic Social Technological Environment Legal<
In light of recent unemployment figures, and a continual downturn in the labor market, many unemployed professionals are finding themselves in a bind when their benefits or severance packages are depleted. It is not easy to compete with 300-600 resumes for one job. Those seeking jobs through postings on the web or through a professional recruitment service must consider a new place to live as well as a new employment situation -- if they are serious about the jobs they are applying for.For 14 years, Steve Hall has made a career in connecting great companies with great people in the IT industry, which is famous for turnover. Job seekers and companies in the post-911, post-dot.com and post-Enron business environment rely upon Hall and Find Great People (FGP) International, for worldwide recruitment services. Find Great People relocates to a new office in late October with complete with state-of-the-art equipment at 150 Executive Center Drive, B-82, Greenville, South Carolina in October.Steve Hall has been a recruiter with the same company since 1989. He counseled and placed job seekers in positions through the downturn of the early Nineties, when another war was raging in Iraq. Despite the fact that politicians and business leaders may not be calling this downturn a recession, from a recruiter’s standpoint, these are definitely tough times. “In April 2001, the severity of it hit everyone around the country,” said Steve. He continued, “Since April 2001, it’s like being burie
Perhaps you are the owner or director of a company seeking backing or further investment? Well a good marketing plan can be really important in attracting new investment or better bank facilities.
Perhaps you need help in making choices regarding which parts of the market to focus on and how to compete in that target market (Marketing Strategy)?
Often the mere process of preparing a marketing plan will help you to develop a successful marketing strategy through the discipline and process that you go through.
A good marketing plan will describe all the marketing actions to be carried out within a specific time period. It will contain details of your company, its products or services, its marketing objectives and strategies and information on how to measure the results of the marketing activities.
It might help if I give you a framework of basic elements that a Marketing Plan should include.
Basic Elements of a Marketing Plan
So what do you need?
1.Executive Summary - introduces and explains the major features and recommendations to executives (or your bank manager).
1.1 Introduction - a brief description of your organisation, its products and or services.
The context and objectives of the plan should be described and a description of what your business activities are. You should include current revenues, customers and your market position. You can also blow your own trumpet here! Note your accomplishments and successes to date. If it is a new market entry or entirely new markets you are going for, then here is the place to describe any experience, training or competencies that your company has.
1.2 Vision, Mission Statement and Objectives
Mission statements focus on the long-range purpose of your marketing plan. "To educate entertain and enlighten our clients so that they become more successful Marketers." Company objectives should be more specific and oriented towards action. "We will deliver a balanced range of Marketing Solution Publications to the U.K. and Europe through mail order and Internet."
1.3 Team description
Who will deliver the plan? What are the resources and structure of the team who will do so? Management skills and capabilities. List any Marketing knowledge, sales skills, copy-writing ability, etc. Agencies - Include any Marketing consultants, PR agencies you are using.
If there are any gaps honestly point them out and do a Training Needs Analysis.
1.4 Main marketing objectives
You need only give a brief statement of these here to close the Executive summary.
2.1 Current market conditions
What are the trends in your market? What are the dynamics facing businesses such as yours? Who are your target customers? What competition do you face?
2.2 Market trends:
You should describe the macroeconomic trends that directly affect the target market that your marketing plan is aimed at. This is where the PEST Framework is useful to include. (Sometimes referred to as PESTEL, SLEPT or PESTE) the components are: Political Economic Social Technological Environment Legal<
Situation may arise when you are opening a dollar store in which inventory levels have fallen way below acceptable levels. It does not matter what the reason, it is important to address the situation as quickly as possible. The obvious way to address the problem is to order additional merchandise to place on the sale floor.However, there is more to it than just ordering merchandise. It is important to order the right merchandise for the store. It is important to order merchandise that has established a history of strong sales for the store. When opening a dollar store merchandise that previously sold well needs to be brought back first.If you have access to previous sales records, invest money in inventory by sales history. Start with the highest selling department and replenish tops sellers in that department first. When you are opening a dollar store the goal is to keep the highest selling items in the top performing department in stock at all times.After addressing the top performing department, move on to the next highest performing department and repeat the process. After completing that process across all departments (Or until replenishment funds are spent.), the store should be stocked to a level that is as if you were just opening a dollar store for the first time.On the other hand, if there are funds remaining, add new or hot-selling products to the mix. Consider adding additional inventory of top selling items across the store. Add follow-up orders of to
1.Executive Summary - introduces and explains the major features and recommendations to executives (or your bank manager).
1.1 Introduction - a brief description of your organisation, its products and or services.
The context and objectives of the plan should be described and a description of what your business activities are. You should include current revenues, customers and your market position. You can also blow your own trumpet here! Note your accomplishments and successes to date. If it is a new market entry or entirely new markets you are going for, then here is the place to describe any experience, training or competencies that your company has.
1.2 Vision, Mission Statement and Objectives
Mission statements focus on the long-range purpose of your marketing plan. "To educate entertain and enlighten our clients so that they become more successful Marketers." Company objectives should be more specific and oriented towards action. "We will deliver a balanced range of Marketing Solution Publications to the U.K. and Europe through mail order and Internet."
1.3 Team description
Who will deliver the plan? What are the resources and structure of the team who will do so? Management skills and capabilities. List any Marketing knowledge, sales skills, copy-writing ability, etc. Agencies - Include any Marketing consultants, PR agencies you are using.
If there are any gaps honestly point them out and do a Training Needs Analysis.
1.4 Main marketing objectives
You need only give a brief statement of these here to close the Executive summary.
2.1 Current market conditions
What are the trends in your market? What are the dynamics facing businesses such as yours? Who are your target customers? What competition do you face?
2.2 Market trends:
You should describe the macroeconomic trends that directly affect the target market that your marketing plan is aimed at. This is where the PEST Framework is useful to include. (Sometimes referred to as PESTEL, SLEPT or PESTE) the components are: Political Economic Social Technological Environment Legal<
Wouldn't it be great if we got get the cheapest price on everything. I know I wouldn't want it. Would you? Do you strive to get the cheapest automoblie? The cheapest mobile home to live in? The cheapest place to eat? Rather than look for the cheapest we tend to look for value for our money. We know we all work hard for our money and would like to be compensated if we are to give it up.The first thing a buyer should look for is if he's comparing apples with apples. Any person who's been to China lately can tell you that you can find a knockoof Louis Vitton handbag for $10.00, $20.00, $50.00 and $100.00. The $10.00 bag looks good from a distance but up close you can notice it's not a real one. The $20.00 bag looks real until you see the seems. The $40.00 bag looks perfect on the outside but the inside is noticeable different. Lastly, the $100.00 bag is an identical bag that can fool even workers at Louis Vitton.Secondly you should look for reliability. If you need the goods for a certain date and are saving 5% dealing with one questionnable supplier, think what would happen if they are late. If you run a sale on an item, advertise starting this date, and then not have the merchadise, think about the impact on your company. Your company's image is not viewed favourably, secondly the likelihood of this customer returning to your store for a future sale is unlikely and your advertising budget was wasted. Now how much was that 5% savings worth?Thirdly, look at indirect costs.
1.3 Team description
Who will deliver the plan? What are the resources and structure of the team who will do so? Management skills and capabilities. List any Marketing knowledge, sales skills, copy-writing ability, etc. Agencies - Include any Marketing consultants, PR agencies you are using.
If there are any gaps honestly point them out and do a Training Needs Analysis.
1.4 Main marketing objectives
You need only give a brief statement of these here to close the Executive summary.
2.1 Current market conditions
What are the trends in your market? What are the dynamics facing businesses such as yours? Who are your target customers? What competition do you face?
2.2 Market trends:
You should describe the macroeconomic trends that directly affect the target market that your marketing plan is aimed at. This is where the PEST Framework is useful to include. (Sometimes referred to as PESTEL, SLEPT or PESTE) the components are: Political Economic Social Technological Environment Legal
2.3 Target market
It goes without saying that you should be aiming all your marketing efforts precisely at a target market or you are heading for a disaster.
All good marketing planning should follow from a very detailed segmentation of the market. Size? Is it growing, staying the same, or shrinking? Customer characteristics e.g. age, sex, income level, location, marital status, number of children etc. Habits, patterns and values of target customer. What are their wants, needs and desires? What are their buying habits? - How do they spend their disposable income and when do they buy and how do they buy? How many times and when?
2.4 Competition analysis
In the micro environment analysis of a Marketing Audit you will hopefully have identified your present and potential competitors. What are their key products / services? How do they differentiate them selves? You should briefly explain the actions that you will take to oppose or overcome your competitor's offerings.
I highly recommend you use Professor Michael Porter's Five Forces Model for this and the four other threats he identifies. Space does not allow me to go into detail here although I have written a more comprehensive report in which I include a diagram of the Five Forces Model available from my own website.
2.5 Issues analysis
You should briefly list such key external issues as government legislation affecting your business, or new technological development that impinges on your product.
3.1 SWOT analysis
Strengths Weakness Opportunities Threats
A major component of any marketing plan is the SWOT analysis. Strengths and weaknesses are born of internal elements while opportunities and threats come from outside. When opportunities and threats are recognised they can then be examined from the point of view of your product strengths and weaknesses.
What could we change or improve about our product to make it easier for the customer? What are our customers' wants and desires? - We may possibly find new opportunities by thinking about such questions.
It is worth remembering that a threat can also be an opportunity to you, while a strength may also be a weakness depending on your point of view!
A business offering a vast selection of products may see this as one of their strengths. But for the customer, confused by the bewildering array of options as they try to find what they need, sees it as a weakness.
4. Positioning Strategy
Decide how you want your clients to perceive you in your marketplace. Lowest price? Best service? Highest quality? This is all part of the differentiation process.
5. Differentiation
You want to 'stand out from the crowd' so you need to make some decisions on segmentation and the positioning of your business. Combine this with your competitive analysis and you should be able to differentiate yourself from the competition.
6. Key messages
Thinking about differentiation should also help you to decide on your 'Key messages'. Be warned that it usually takes time for these to make an impact, to 'sink in', as it were. This means it is important to keep repeating your consistent messages throughout any marketing campaigns.
7. The Marketing Mix
The 4 P's.P is for:
Product - List your companies products and services. Include their key features. Is there something unique about them? If you are launching a new product or service include it here.
Price - There are many ways to set a price, some more scientific than others are! Remember that pricing is an integral part of the marketing strategy. Ask yourself is the customer willing to pay the price proposed and will it give you any profit? Some prices may be set on a cost-plus basis - adding a profit on to the costs of producing the goods or services. A better way is the 'market-based' price because it takes into account what your competitors are charging.
Place - where do you sell? Direct, through an intermediary? Bricks and mortar or virtual outlet?
Promotion - what activities are you going to use to create awareness of your product or service to generate sales? This is also referred to as Marketing Communications and includes direct selling, corporate events, brochures, web-sites, advertisi
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