Chapter Copyright © 2009 by Nelson Education Limited. DEVELOPING A MARKETING PLAN 3 3-1 Prepared by...

Copyright © 2009 by Nelson Education Limited.

Chapter

DEVELOPING A MARKETING

PLAN

3

3-1

Prepared by

Simon Hudson, Haskayne School of BusinessSimon Hudson, Haskayne School of Business

University of CalgaryUniversity of Calgary

andand

Marion Joppe, University of GuelphMarion Joppe, University of Guelph


Chapter

Topics

• Eight key steps of marketing planning

• Corporate connections

• Analysis and forecasting

• Setting goals and objectives

• Targeting and positioning

• Tactics and action plans

• Marketing planning in various sectors

3Developing a Marketing Plan

3-2


Chapter

Marketing planMarketing plan• a written, short-term plan that details how an

organization will use its marketing mix to achieve its marketing objectives

Strategic marketing planStrategic marketing plan• a written plan for an organization covering a

period of three or more years into the future

Developing a Marketing Plan 3


Chapter 3Developing a Marketing Plan

3-4

Marketing Planning – Eight Step Process


Chapter

Step 1: Corporate Connection

• The corporate mission should define the competitive scopes within which the company will operate.

• mission statement should be more than a page in the employee handbook

• company’s best tool for holding itself accountable to employees, customers and investors.

• majority of mission statements don’t reflect reality

• Enron’s mission statement noted that the company prided itself on it four key values: respect, integrity, communication and excellence.


3-5


Chapter

Mission Statements

• The Canadian Tourism Commission“to increase awareness of and interest in Canada as a four-

season tourist destination.”

• Zip Air “committed to providing…the kind of friendly, efficient service

that maybe you’ve been missing with other airlines.”

• G.A.P. Adventures “Our priority is to satisfy every customer, every time, through

outstanding, personalized service! We are dedicated to the customer experience and are constantly evaluating how we

can improve this experience.”


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Chapter

Step 2: Analyzing and Forecasting

• Portfolio analysis• Competitor analysis• Segmentation analysis• SWOT analysis• Forecasting


3-7


Chapter

Portfolio AnalysisPortfolio Analysis• first became popular in the 1960s• organizations sought to improve profitability

by diversifying their activities• Boston Consulting Group (BCG) model

– popular approach – based on long-term planning and economic

forecasts– two-by-two matrix identifies those offering high

potential and those that drain on the organization’s resources



Chapter

The Boston Consulting Group (BCG) Model


3-9Figure 3.2


Chapter

Cash cowCash cow• generates a high volume of income in relation to the cost of maintaining

its market share

DogDog• provides neither cash flow nor long-term opportunities

• holds little promise for improved performance

StarsStars• have a dominant share of a fast-growing market

Question marksQuestion marks• potentially high-risk products or services that may be profitable and,

because of their small market share, may be vulnerable to competition

Boston Consulting Group Model



Chapter

Segmentation Analysis

3

3-11

Developing a Marketing Plan

• SegmentationSegmentation – how organizations identify and categorize customers into

clearly defined groups with similar characteristics, needs, or desires

• Five types:Five types:• Demographic • Psychographic• Geographic • Benefit• Behaviour


Chapter

SWOT Analysis• StrengthsStrengths and WeaknessesWeaknesses

– internally focused– those things an organization does best and positive features of

its products and services) and weaknesses (problems that affect its success)

• OpportunitiesOpportunities – events that can affect a business, either through its reaction to

external forces or through its addressing of its own weaknesses. – Example: Four Seasons Hotels and Resorts private charters and

general cruises

• ThreatsThreats – internal and external elements that could have a detrimental

effect on a business– Example: September 11, 2001 and SARS


3-12


Chapter 3

3-13


SWOT Analysis of Canada as a Destination from Australia

Table 3.1


Chapter 3

3-14


Weaknesses

Table 3.1


Chapter

Opportunities

3-15


Table 3.1


Chapter 3

3-16


Threats

Table 3.1


Chapter

• Goals Goals – primary aims of the organization – can be defined in terms of sales growth, increased

profitability and market leadership

• Objectives Objectives – specific aims that managers accomplish to achieve

organizational goals– activities that will accomplish the goals– For example, the goal of sales growth for a hotel could

become an objective of 20 percent increase in accommodation sales and 30 percent increases in food and beverage sales.

Step 3: Setting Marketing Goals and Objectives


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Chapter

Step 4: Targeting and Positioning


3-18

• Target MarketTarget Market – clearly defined market whose needs the company plans

to satisfy

• PositioningPositioning– establishing an image for a product or service in relation

to others in the marketplace

• Product DifferentiationProduct Differentiation – technique that enables organizations to gain competitive

advantage by offering a product that has features not available in offerings of competitors


Chapter

Step 4: Targeting and Positioning


3-19

• Unique selling proposition (USP)Unique selling proposition (USP)– unique feature of a product or service that

distinguishes it from all other products and services

• BrandingBranding– a method of establishing a distinctive identity

for a product or service based on competitive differentiation from other products

– name ideally conjures up positive images in consumers’ minds


Chapter

• The marketing plan for Superior North included strategies of:– Creative branding– Partnership development – Integrated communications– Stakeholder outreach – Tourism package development – Regional/community team building – Eco-tourism development – Festival/theme events – Aboriginal tourism development


Step 5: Tactics and Action Plans

3

3-20


Chapter

Final Three Stages


3-21

• Step 6: Resource Requirements– address the resources required to support the

strategies and meet the plan

• Step 7: Marketing Control– ensure that objectives will be achieved in the

required time

• Step 8: Communicating the Plan – important aspect of motivating staff at all levels

and securing participation in the implementation process

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