Marketing Plan
Sports & Entertainment Marketing
What is the Marketing
Plan?
• A written document that provides direction for the
marketing activities for a specific period of time
• It is a critical planning tool for any business, regardless of
industry
•
Defines goals and strategies
• Serves as the “game plan”
• Communicates the goals, objectives, and strategies of a
company to its employees
Key components of an effective
marketing plan:
1.
Mission Statement
2.
Executive Summary
3.
Situation or S.W.O.T. Analysis
4.
Marketing Goals / Objectives
5.
Market Research / Marketing Strategies
6.
Implementation
7.
Evaluation and Control
The Mission Statement
• A written statement that captures an organization’s
purpose, customer orientation and business
philosophy
• The majority of marketing strategies are founded on
the basis of the mission statement content
The Situation (S.W.O.T.)
Analysis
S
Strengths
W
Weaknesses
O
Opportunities
T
Threats
Strengths
S
Strengths
Resources and capabilities that can be used
as a basis for developing a competitive advantage
• Patents
• Strong brand names
• Positive reputation among customers
Weaknesses
W
Weaknesses
Qualities that give a business a competitive disadvantage
• Lack of patent protection
• Weak brand name
• Poor reputation among customers
• Lack of resources
• Inadequate distribution channels
Opportunities
O
Opportunities
Events that could facilitate company profit and growth
• An unfulfilled customer need
• Arrival of new technologies
• A niche that has not yet been exploited
• Mergers
• Entry into new markets
Threats
T
Threats
Events that could have a negative impact on the company
• Shifts in consumer tastes away from company
products
• Emergence of new substitute products
• Government regulation
Project Time
• Work Individually
• See attached document for Project Information