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Preparation - Assemble the required information
- Summarize the important marketing and business
problems or opportunities, immediate or expected.
- Articulate the purpose of this plan
- Review the Company Mission and Goals
- Review or create the Marketing and sales goals and objectives
- Assemble information on the company's current products,
markets and competitors
- SWOT - Strengths, Weaknesses Opportunities and Threats
- Current product and marketing and sales plan, activities
and results
- Company resources, strengths, weaknesses
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Information Analysis
- Segment the market into appropriate categories
and describe each segment in terms of character, magnitude of
the opportunity and applicable competition
- Identify and understand the impact of the company's environment
on its business, for example, with respect to the industry, economics,
politics
- Identify and understand the competition - its character, magnitude,
and its positioning in the market. In particular, identify indirect
competition and how it relates to the business
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Create the Strategy
Create the Marketing Strategy using the following Model as a guide and
checklist
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Focus
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Product Definition
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Positioning
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Channel
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Promotional Approach
- Leverage
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Focus - Target market and product selection
- Identify and rank best market segments and
associated products
- Identify "the customer", decision makers and influencers
- Characterize - values, needs, buying practices
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Product Definition - Using a "Whole Product Model"
Acknowledging that the customer will need
to have all the following components of the product in order to derive full
value from it, articulate how you will ensure the customer receives each
of them:
- Customer's Application
- Value of the Product to the
Customer
- The Basic Core Product
- Services provided by Company
- Customer Supplied Items
- Standards
- Intangibles
- The Deal (Price, Terms etc.)
- Trust
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Positioning
- How to create the desired perception
by the customer of your product and company, compared to all alternatives
- Differentiation of product,
price, company and strategy to deal with all alternatives, including
competition
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Channel ( Distribution Channels and Partnering)
Considerations for evaluating or selecting Channels
- Identify types of suitable
channels
- Selection criteria - capabilities, suitability -
- how product is to be supplied
- how payment is to be collected
- information and intelligence gathering role
- promotional role
- contribution to product and/or services, reputation etc.
- deals with channel members
- roles, responsibilities, authority
- commission or mark-up
- advantages of this channel - leverage factor
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Promotional Approach
Key elements and considerations in designing
the promotional approach are:
- The Audience - each type of person in each type
of organization whom we need to address, in order to influence the
customer to buy
- The message - tailored to each element of the audience - includes
the value proposition, positioning, benefits, features, specifications
- The Media - the most effective and cost efficient means of
delivering the message to each type of audience
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The Marketing Plan - Practical Implementation of the
Marketing Strategy
- block diagram of marketing organization - (see below)
- staffing - number of people and their qualifications
- management - roles, responsibility, authority
- sales and sales logistics support
- order processing and tracking
- customer relations and support
- technical service and support
- marketing operations - promotional materials and events coordination
- product management
- action items to build the organization and implement strategy
- resources required
- who, what, when, how ?
- Feasibility Analysis - Using Cumulative Cash Flow
- Sales Bookings and Revenue Projections
- Costing and scheduling of items in action plan
- best case, worst case, most probable scenario
- adjust to accommodate goals, resources available, company's
capabilities and character of the market
- Performance monitoring and review systems
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Services