Marketing Management Plan

16 Oct Marketing Management Plan

During your online appointment will talk through your plan

with me on zoom.us covering:

What you think is important

Why you are taking the action that you are

Any questions that you have

Note: You do not have to know include an answer to everything in your final plan, however, if you don’t know the answer to include in your plan, your plan must include the methodology that you will use to find and execute the answers needed.

I will ask questions and provide feedback.

I will record the interview and provide you the link to the recording of the walk through, and you will post that link in your simCEO lesson submission. The link is all that you need to include to get full credit for the assignment.

A separate assignment, as usual, will still require you to get and document at least one piece of advice from someone that you will take to change your plan.

Plan Template:

Talk through these Headers

Company Name

Marketing Management Plan Purpose

Company Vision (Customer Pain Point)

Brand Story

Marketing Values

Customer Segments

Target Market

Product/Service Position

Marketing Messaging

Marketing Media

Marketing Mix

Key Marketing Decisions

Marketing Metrics

Customer Needs Recognition

Market Analysis

Customer Marketing Assumptions

Product Lifecycle

Market Disruption (Crossing the Chasm)

Integrated Marketing Campaign

Marketing Services

Global Marketing

 

Detailed Description

COMPANY NAME

Write down the name of your company.

 

MARKETING MANAGEMENT PLAN PURPOSE

Describe who your Marketing Management Plan is for, and what they will know that they didn’t know before reading your Marketing Management Plan.

We will create a final template, and you will fill out a new part of the plan each week. At the end, you will submit the final copy of your complete plan.

 

COMPANY VISION

For this class, your vision in your customer pain point. We will talk about you when you define your brand, but for now, stick to customer pain identification.

Write down a first draft of your company vision. Your vision should be a short sentence or two that describes how the world will be different because your company exists. In other words, the impact on the world that you want to have with your company.

Vision = After You – Before You = Impact

 

Marketing: Company Brand Story

Write down your company brand story. Make it short and sweet…specifically:

What you do

Who you do it for

What makes you different

 

 

MARKETING: VALUES

Write down at least three values that your team should use as decision making tools.

What is most important to you in making decisions and in what order?

Imagine that you are writing down instructions for achieving the three top priorities of for your company. Now imagine that after writing your values, that you leave for three months. Will your employees do the right things to achieve your top values?

 

MARKET SEGMENTATION: CRITERIA

WRITE DOWN AT LEAST THREE CONSUMER GROUPS THAT YOU BELIEVE WILL BUY YOUR PRODUCT OR SERVICE AND SORT THEM IN GROUPS (SEGMENTS) BY ONE OR MORE OF THE FOLLOWING:

Where they are (location)

Who they are (demographics)

What they like (psychographics)

How they behave (Behavior)

You will prove one answer for each group. The answer will be based on one or more criteria.

 

MARKET SEGMENTATION: TARGETING

WRITE DOWN THE SEGMENT, THAT YOU WILL FOCUS ON FIRST (TARGET) AND WHY SUCH AS:

They will spend more money

They are easer to reach

You already have a media channel to them

They already show the biggest input

They are more likely to tell others

Other

 

MARKETING BRAND POSITIONING: MARKET POSITION

WRITE DOWN WHAT YOUR BRAND POSITION IS RELATIVE TO YOUR COMPETITION. EX.

Easier

Faster

Cheaper

More reliable

Last Longer

Ex: We keep track of your customer and business interactions like the SAP Enterprise Resource Planning System, only without the high staff overhead to run and maintain it.

 

MARKETING: MESSAGE

Write down at least three most important messages to your target market. Remember that your target market is motivated by”

Fear

Guilt

Greed

Exclusivity

Social acceptance (“everyone in this group is doing it”)

You can create your USP (Unique Selling Position) with this template:

Narrowly defined positioning.

Meaningful specifics.

Guarantee

Examples:

§ “Fresh Hot Pizza Delivered in 30 Minutes or Less” – Domino’s Pizza

“Where it absolutely, positively has to be there overnight” – FedEx.

“We’re number two. We try harder.” Avis

“The milk chocolate melts in your mouth, not in your hand.” – M&M

“A diamond is forever.” – De Beer’s

§ benefit that is a promise with meaningful specifics – with a guarantee. If you define your USP narrowly, it will give you a stronger appeal. Meaningful specifics mean that you specify the benefit. Look at Domino’s example: They are not going to deliver your pizza “sometime” but within 30 minutes. It has a specific timeframe. They are taking two benefits that are what clients hate about delivered pizza. They hate it when it’s cold, and they hate it when it’s late.

You need to have meaningful specifics in your USP.  The meaning will be a benefit to your ideal customer, client or patient.

The last part is a guarantee. If you can guarantee an outcome that your ideal prospect will love, use that in your USP.

 

MARKETING: MEDIA

Write down at least three media channels that are most important to your target market and why. Examples include:

Blogs

Social Media (which social media specifically)

Trade Shows

Email

Magazines

TV Shows

Public Relations (getting others to talk about you…who and where)

Email

Search Engine Marketing

Search Networks (Pay per Click)

Display Networks (Banner Ads)

Speaking Opportunities

Awards & Recognition

Sponsorships

Direct Mail

Content Marketing (video, articles, YouTube channels…)

Specify whether your choices are Owned Media, Paid Media, or Earned Media

 

MARKETING: MARKETING MIX

Write down what is most important to your target market about your marketing mix:

Product (Features, benefits, design…)

Price

Place (where and how they buy)

Promotion

increase awareness

create interest

generate sales

create brand loyalty (separate yourselves from others)

 

Planning: Marketing Decisions

For one of your marketing objectives write down three decisions that as a manager you will have to make.

Ensure for your decision that you have widened your options as described in the decisive video in the simCEO resources folder (https://youtu.be/eY3ivHv7J7s).

Examples could include:

What is the best marketing media channel to reach our target market?

How do I organize my marketing team most effectively to grow our market the fastest.

What processes should we put in place to most effectively do market analysis.

 

Planning: Marketing Metrics

As a manager, you will need to create metrics to measure whether you will reach your goal.

Write down a one goal, one lag metric to achieve that goal, and at least one LEAD metric. (the LEAD/LAG Measurement video in the simCEO resources, https://youtu.be/Dwpak1IzYj8, might help).

Example include: