The Marketing Plan
The Marketing Plan
The Marketing Plan
Plan
What is a Marketing Plan?
● Document containing the market objectives, marketing strategies and
activities that will be undertaken to execute theses strategies.
Target Market
Pricing Strategies
Distribution Strategies
Promotion Strategies
MADI
● Once the strategies have been summarized, the entrepreneur can now proceed
to identify his competitors’ strength (or benchmarks that must be met or
surpassed) and weaknesses ( or gaps in the execution of the strategy).
● The MADI questions of Dr. Ned Roberto provides a useful way of identifying
unmet and unsatisfied customer needs and expectations.
M- What is Missing?
A- What is Annoying?
D- What is Disappointing?
I- What is Irritating?
Strength and Weakness of Major Competitors
Strengths
(Benchmarks)
Weaknesses
(Execution Gaps)
What are the Steps in Preparing the Marketing Plan?
1. Assessing the business situations
2. Defining the target market
3. Setting the marketing goals and objectives
4. Developing marketing strategy and action programs
5. Preparing the budget for the action plan
Assessing the Business Situation
● Since the industry and competitive analysis had already been done in the
first section of the business plan, the entrepreneur should just reiterate
some key elements to help provide the context for decisions concerning
the target market and the strategies that will be employed to address the
needs and expectations of this segment of the market.
Defining The Target Market
The process of segmenting and targeting customers include the following
steps:
Price Quality image, list price, quantity, discounts, allowances for quick payment,
credit terms, and payment period
Place ( distribution) Setting up of own distribution outlet, use of wholesalers and or retailers ,
number of distributors, number of channels, geographic coverage,
inventory, transportation, and the use of electronic channels