SWOT ANALYSIS
STRENGTHS AND WEAKNESSES = INTERNAL
COMPANY – STAFF/FINANCES/PRODUCTION CAPABILITIES/MARKETING
MIX (4 P’S)
CUSTOMERS – BUYING HABITS/SATISFACTION
COMPETITION – MARKET SHARE/CORE COMPETENCIES
SWOT ANALYSIS
OPPORTUNITIES AND THREATS= EXTERNAL
COMPETITION – NEED TO KNOW WHAT THEY'RE DOING AT ALL TIMES
PEST ANALYSIS
POLITICAL = LAWS AND REGULATIONS (LOCAL AND GLOBAL)
ECONOMIC = RECESSION/UNEMPLOYMENT/CURRENCY RATE/TRADE
RESTRICTIONS
SOCIO-CULTURAL = CHANGES IN DEMOGRAPHICS
TECHNOLOGY = ADAPTABILITY TO NEW TECHNOLOGY

MARKETING PLAN
FORMAL WRITTEN DOCUMENT THAT DIRECTS A COMPANY’S
ACTIVITIES
COMMUNICATES THE GOALS AND STRATEGIES OF THE
COMPANY’S MANAGEMENT TEAM
7 SECTIONS
EXECUTIVE SUMMARY / SITUATIONAL ANALYSIS / OBJECTIVES / MARKETING
STRATEGIES / IMPLEMENTATION / EVALUATION AND CONTROL / APPENDIX
MARKETING PLAN
1.
2.
EXECUTIVE SUMMARY = OVERVIEW OF THE PLAN
3.
OBJECTIVES = WHAT THE PLAN WILL ACCOMPLISH
SITUATIONAL ANALYSIS = INTERNAL AND EXTERNAL FACTORS
THAT AFFECT MARKETING STRATEGIES. SWOT AND PEST
ANALYSIS USED FOR THIS SECTION.
SINGLE MINDED / SPECIFIC / REALISTIC / MEASURABLE / TIME FRAMED
MARKETING PLAN
4.
5.
MARKETING STRATEGIES = IDENTIFIES TARGET MARKET AND SETS
MARKETING MIX CHOICES. FOCUSES ON KEY POINTS OF
DIFFERENCES (ADVANTAGES). SWOT AND PEST UTILIZED
IMPLEMENTATION = PUTTING THE PLAN INTO ACTION. INCLUDES
SCHEDULE / JOB ASSIGNMENTS / SALES FORECASTS / BUDGETS /
RESPONSIBILITIES
MARKETING PLAN
6.
EVALUATION AND CONTROL = HOW A SPECIFIC OBJECTIVE
WILL BE MEASURED.
INCLUDES PERFORMANCE STANDARDS – EXPECTATIONS FOR
7.
PERFORMANCE THAT REFLECT THE PLAN’S OBJECTIVES
APPENDIX – SUPPLEMENTAL MATERIALS (FINANCIAL
STATEMENTS OR SAMPLE ADS)
IDENTIFYING AND ANALYZING MARKETS
MARKET SEGMENTATION – CLASSIFYING PEOPLE
WITHIN A MARKET INTO SMALLER GROUPS
MARKETERS MUST DETERMINE WHICH OF THE MARKET
SEGMENTATIONS SHOULD BE TARGETED
COMPANIES USE DATA TO FORM SEGMENTATIONS (CENSUS)
IDENTIFYING AND ANALYZING MARKETS
SEGMENTATION TYPES
DEMOGRAPHICS – PERSONAL CHARACTERISTIC STATS
AGE (GENERATION) / GENDER / INCOME / MARITAL STATUS / ETHNIC
BACKGROUND
GEOGRAPHICS – WHERE PEOPLE LIVE
LOCAL / STATE / REGIONAL / NATIONAL / GLOBAL
IDENTIFYING AND ANALYZING MARKETS
SEGMENTATION TYPES
PSYCHOGRAPHICS – ATTITUDES, INTERESTS, OPINIONS, LIFE
STYLES, AND VALUES
BEHAVIORAL CHARACTERISTICS – SALES GENERATED, SHOPPING
PATTERNS, PURCHASE DECISION MAKING PROCESS
MASS MARKETING VS SEGMENTATION
MASS MARKETING = SINGLE MARKETING STRATEGY TO
REACH ALL CUSTOMERS
ADVANTAGES: ECONOMIES OF SCALE (COST SAVINGS)
DISADVANTAGES: COMPETITORS CAN IDENTIFY MARKET SEGMENTS
WHOSE NEEDS/WANTS ARE NOT BEING MET AND STEAL THOSE CUSTOMERS
MASS MARKETING VS SEGMENTATION
NICHE MARKETING = NARROWS AND DEFINES A
MARKET WITH EXTREME PRECISION
ADVANTAGES: INCREASED CHANCE OF A PRODUCTS SUCCESS
DISADVANTAGES: COST!!