CONCLUSION OF THE TOPIC MARKETING PLAN

NOW LETS GO TO THE CONCLUDING PART OF THE TOPIC: MARKETING PLAN


STEP FOUR: TARGET MARKET. THIS STEP IS SEQUEL TO (A FOLLOW UP OF) THE PREVIOUS STEP AS THE STUDY OF THE MARKET SEGMENTS AND SEGMENTATION ASSISTS IN IDENTIFYING THE TARGET MARKET AND THE PROFILES OF THE SEGMENTS OF THE MARKET. THE FOLLOWING NEED TO BE CAREFULLY EXAMINED IN THE SELECTED SEGMENTS; USER PROFILE AND PURCHASING PROFILE, EXISTING CORE CUSTOMERS, HIGH POTENTIAL NEW CUSTOMERS, BUYERS DECISION MAKING AND BUYING PROCESSES AND SECONDARY MARKET/CUSTOMERS OR LOW POTENTIAL CUSTOMERS.


STEP FIVE: MARKETING OBJECTIVES AND STRATEGIES. OBJECTIVES ARE STATEMENTS OF WHAT NEEDS TO BE ACHIEVED WHILE A STRATEGY IS ONE OR MORE STATEMENTS DETAILING HOW A PARTICULAR MARKETING OBJECTIVE IS TO BE ACHIEVED. THE OBJECTIVES INCLUDE; THE CORPORATE GOAL, MARKETING OBJECTIVES AS TRANSLATION OF CORPORATE GOAL, PRODUCT OBJECTIVES AND VOLUME OBJECTIVES AND SALES OBJECTIVES. THERE ARE DIFFERENT TYPES OF STRATEGIES INCLUDING ;
MARKET SHARE STRATEGY
NATIONAL,REGIONAL AND LOCAL MARKET STRATEGY
SEASONALITY STRATEGY
COMPETITIVE
PACKAGING/PRODUCT BRANDING STRATEGY
PRICING
DISTRIBUTION
SALES/PROMOTION/ADVERSTISING STRATEGY


STEP SIX: POSITIONING STRATEGY. THIS INCLUDE; MATCHING, MAPPING (FINDING BY RESEARCH AND POSITIONING TO SPECIFIC SEGMENT) AND CORPORATE.


STEP SEVEN: MARKETING MIX IMPLEMENTATION TOOLS. THESE INCLUDE PRODUCTS/SERVICES, ADVERTISING MESSAGE, PRICING, PUBLICITY, PROMOTION, PACKAGING, MERCHANDISING, PERSONAL SELLING OPERATIONS, BRANDING, MEDIA AND DISTRIBUTION.


STEP EIGHT: MARKETING BUDGET PLAN AND CALENDAR. THIS PART OF THE PLAN IS VERY IMPORTANT AND HAS TO DO WITH THE NEED FOR CONTINOUS MONITORING OF THE EXECUTION OF THE MARKETING PLAN; THE MARKETING BUDGET MANAGEMENT, BUDGET AND THE ACCOUNTANTS, QUARTERLY REVIEWS AND THE MARKETING CALENDAR.

STEP NINE: EXECUTION. THIS IS ALSO IMPORTANT AND HAS TO DO WITH THE DISTIBUTION AND THE PRODUCTS, THE SALES TEAM, THE SALES TOOLS, THE SALES TERRITORY AND THE CUSTOMERS. MONTORING AND FEEDBACK SYSTEMS ARE PUT IN PLACE USING FIELD OPERATIONS LIKE QUARTERLY MEETINGS AND REVIEWS/CONFERENCES.

STEP TEN: EVALUATION AND PRODUCT PERFORMANCE REVIEWS. THIS STAGE LEADS TO THE INITIATION OF CERTAIN MARKETING STEPS ESSENTIAL TO THE ACHIEVEMENT OF THE SET OBJECTIVES; PRODUCT CONTRIBUTION REVIEWS, PRODUCT PROMOTIONS, PERIODIC MARKETING STRATEGY REVIEWS AND MARKETING/SALES INTERFACE.



IT HAS BEEN A LONG WHILE ON THE TOPIC MARKETING MANAGEMENT. MARKETING IS ALL ABOUT PLANNING AND IS TARGET FOCUSED. THE LEVEL OF MARKETING PLANNING AND EXECUTION USUALLY DETERMINES THE PROFITABILITY OF ANY ENTERPRISE. IT IS THERFORE VERY IMPORTANT THAT OUR ORGANISATIONS ARE MARKETING FOCUSED.


KIND REGARDS AND GOODLUCK IN YOUR BUSINESS VENTURE- BOTH ONLINE AND ON LAND. BE GOOD TO OTHERS AND DO NOT DECEIVE PEOPLE. IT IS EVIL TO GET INVOLVED IN SCAMMING AND DECEIT. THE GREATEST MARKETING PRINCIPLE IS DO UNTO OTHERS THAT WHICH YOU WANT TO HAVE OTHERS DO UNTO YOU. WATCH OUT FOR MORE BUSINESS INSPIRING TOPICS.

marketing plan continuation

CONTINUATION OF THE TOPIC: MARKETING PLAN


STEP ONE: THE BUSINESS REVIEW WHICH TALKS ABOUT THE COMPANY AND PRODUCT REVIEW. HERE, THE DISTRIBUTION/PENETRATION IS ANALYSED(TARGET MARKET ANALYSIS, PRICING SALES AND MARKET SHARE ANALYSIS, COMPARATIVE COMPETITIVE PRODUCT AWARENESS & ATTRIBUTES ANALYSIS, THEN PURCHASE RATES AND BUYING ANALYSIS).

HENCE, THE BUSINESS REVIEW IS ALSO KNOWN AS SITUATIONAL ANALYSIS. IT IS USUALLY A GROUP EFFORT AS THE INDICES GATHERED HERE WOULD DETERMINE THE DIRECTION OF FOCI FOR THE PLAN. EACH OF THE ABOVE TOPICS ARE OBJECTIVELY REVIEWED AND IS ACTUALLY A FORM OF RESEARCH, THE WORK SHOULD BE DONE IN OUTLINE.

STEP TWO: PROBLEMS AND OPPURTUNITIES. THE PROBLEMS ARE DERIVED FROM THE WEAKNESSES OF THE COMPANY AND FROM THE ECONOMY, WHILE THE OPPURTUNITIES ARE DERIVED FROM POSITIVE CIRCUMSTANCES SUCH AS THE DIRECTION OF GROWTH OF THE ECONOMY OR POLICY THRUSTS OF THE GOVERNMENT OF THE DAY.

STEP THREE: MARKET SEGMENTATION PRINCIPLES BY INDUSTRY, BY PRODUCTION PROCESS, BY FINANCIAL MUSCLE/DECISION MAKING, BY LOCATION AND BY CONSUMPTION IS IMPORTANT IN MARKETING PLAN.




LADIES AND GENTLEMEN, THE NEXT POST WILL THROW MORE LIGHT ON THE MARKETING PLAN AS I WILL EXPLAIN STEPS 4-10. WATCH OUT AND STAY IN TOUCH.
KIND REGARDS.