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8/8/2019 VJIM MARKETING1
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MARKETING MANAGEMENT
It is the process of planning & executing the conception,pricing, promotion and distribution of goals, services, andideas to create exchanges with target groups that satisfy
customer and organisational objectives
Marketing Management is essentially a DEMAND Management
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SELLING AND MARKETING
Selling Concept
Consumers if left alone will ordinarily not buy enough of products. Theorganisations must therefore make an aggressive selling and promotion effort
Essentially sell what they make or produce rather than make what marketwants
Marketing Concept
Determining needs and wants of target markets and delivering the desiredsatisfactions more effectively and efficiently than competitors
Marketing Management is essentially a DEMAND Management
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SELLING AND MARKETING
Marketing Management is essentially a DEMAND Management
rting Point Focus Means Ends
Products
&elling Promotion rofits through ales Volume
Factory
he Selling Concept
arget Market ustomer
Needs
oordinated
Marketing
rofits through Customer Satisfa
he MarketingConcept
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MARKETING MIX
Marketing Management is essentially a DEMAND Management
arketing Mix
arget Market
Product
oduct VarietyQualtityDesign
Features rand Name
PackagingSizes
ServicesWarrantiesReturns
PlaceChannels
Coverage
Assortmen
tsLocations
Inventory
Transport
Price
ist PriceDiscounts
Allowances ayment Period redit Terms
Promotion
ales PromotionAdvertising
ales Force ublic Relations irect Marketing
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MARKETING MIX
Marketing Management is essentially a DEMAND Management
Company ProductsServicesPrices
ales Promotion
Advertising
ales force
ublic Relations
irect Mail andTelemarketing
DistributionChannels arget Custom
fferMix
romotion Mix
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MARKETING MANAGEMENT PROCESS
Marketing Management is essentially a DEMAND Management
ysing Marketing Opportunities
esearching and Selecting Target Market
esigning Marketing Strategies
lanning Marketing Programs
,rganising implementing and controlling mar
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MARKETING PROGRAMME
•
• 4 P’s 4 C’s•
• Product Customer needs and Values
• Price Cost to Customer
• Place Convenience
• Promotion Communication
Marketing Management is essentially a DEMAND Management
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PRODUCT LIFE CYCLE(PLC)
Marketing Management is essentially a DEMAND Management
Sales
Profit
Introduction
Growth
Maturity
Decline
Time
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VALUE DELIVERY PROCESS
•
• Identify the major attributes that customers value
• Assess the quantitative importance of the different attributes
• Assess the company’s and competitors performance on the
different customer values against their rated performance• Examine how customers in a specific segment rate the
company’s performance against a specific major competitoron an attribute by attribute basis
• Monitor customer values over time
•
Marketing Management is essentially a DEMAND Management
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VALUE DELIVERY PROCESS
Marketing Management is essentially a DEMAND Management
ake the product ell the product
Desig
Product
Procure
Make Price Sell Advertise
/Promote
Distribute
Service
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VALUE DELIVERY PROCESS
Marketing Management is essentially a DEMAND Management
Pricing
Sourcing/Making
Distributing/Servicing
hoose the
ValueCustomerSegmentation
/arket Selection focus alue
positioning
rovide theValue
roductdevelopment
ervicedevelopment
ommunicate the
value
alesforce
alespromotion
Advertising
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MARKETING PLANNING
Marketing Management is essentially a DEMAND Management
argetCustomer
Product
Pricelace
Promotion
Competitors
argetCustomer
Suppliers Public
Ma
rke t
ing
org a
niza
tion
and
imple me
ntin
gsy
stem
s
Marketing planning
systems
Ma
rket
ing
Info
rmat
ion
syst
ems
M a r k e t i n g C o n t r o lS y s t e m
/echnological physicalenvironment
/ocio culturalenvironment
/olitical legalenvironment
/emographic economicenvironment
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DETERMINANTS OF CUSTOMER ADDED VALUE
Marketing Management is essentially a DEMAND Management
roduct Value
ervices Value
ersonal Value
mage Value
onetary Cost
ime Cost
nergy Cost
sychic Cost
otal Customer Cost
otal Customer Value
ustomer Delivered
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CUSTOMER VALUE
Marketing Management is essentially a DEMAND Management
ustomer delivered value is he difference between total ustomer value and total
.ustomer cost Total customer
alue is the bundle of enefits customers expect
rom a given
.roduct or service
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MEHTODS OF TRACKING & MEASURING CUSTOMER SATISFACTION
Marketing Management is essentially a DEMAND Management
.omplaint and Suggestion
Systems. ustomer SatisfactionSurveys
. host Shopping
. ost Customer Analysis
. autious in Measuring
ustomer
Satisfaction
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SATISFACTION
Marketing Management is essentially a DEMAND Management
ALUE CHAIN
•
•
•
irmInfrastructure M
argins
Servicearketing
&Sales
utbound logisticsOperationsnbound Logistics
Procurement
echnology Development
uman ResourceManagement
rimary Activities
M
DELIVERING CUSTOMER VALUE AND
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DELIVERING CUSTOMER VALUE ANDSATISFACTION
Marketing Management is essentially a DEMAND Management
alue DeliverySystem
!lease read
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MEHTODS OF TRACKING & MEASURING CUSTOMER SATISFACTION
Marketing Management is essentially a DEMAND Management
.omplaint and Suggestion
Systems. ustomer SatisfactionSurveys
. host Shopping. ost Customer Analysis
. autious in Measuring
ustomer
Satisfaction
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SATISFACTION
Marketing Management is essentially a DEMAND Management
• S will be less in industries where industries
ffer homogeneous product to a heterogeneous
.arket• S will be high in industries where high quality
omogeneous product is offered to a homogeneous.arket
• S will be lower where repeat buyers face
.witching costs They have to buy from a buyer.ven when CS is low
• ndustries which create repeat business generally/ave create higher level of CS
• .s company increases its market share CS can fall
his is because more customers with eterogeneous demands are drawn into buying a.airly homogeneous product
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CUSTOMER/PRODUCT PROFITABILITY ANALYSIS
Marketing Management is essentially a DEMAND Management
C1 C2 C3
P1 ++ +HighProfitabilityProductP2 + +ProfitableProduct
P3 _ _ LosingProduct
P4 + _ Mixed-
BagProductHighProfitCustomer
Mixed-BagCustomer
LosingCustomer
Products
Customers
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GENERAL ELECTRIC APPROACH - CLASSIFICATION
Marketing Management is essentially a DEMAND Managementvjim1.xlsx
.3 67
.2 33.5 00 .1 00.3 67
.2 33
.1 00
.5 00
nvest
ndGrow
Selectivity
/ Earnings
/arvestDivest
usiness Strength
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GENERAL ELECTRIC APPROACH - STRATEGIES
Protect Position•Invest to grow at maximumdigestible growth•Concentrate effort onmaintaining strength
Invest to Build•Challenge for leadership•Build selectively on strengths•Reinforce vulnerable areas
Build Selectively•Specialize around limitedstrengths•Seeks ways to overcomeweakness•Withdraw if indications of sustainable growth are lacking
Invest to Build•Invest heavily in mostattractive segments•Build up ability to counter competition•Emphasize profitability by raising
productivity
Selectivity/Manage forearnings•Protect existing programme•Concentrate investments insegments where profitability isgood and risks are relatively low
Limited expansion orharvest•Look for ways to expand withouthigh risk,otherwise, minimizeinvestment and rationalizeoperations
Protect andRefocus•Manage for current earnings•Concentrate on attractivesegments•
Defend strengths
Manage forearnings•Protect position in most profitable segments•Upgrade product line•
Minimize investment
Divest•Sell at time that willmaximize cash value•Cut fixed costs and avoidinvestment meanwhile
High
Medium
Low
Weakediumtrong
usiness Strength
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MAJOR CLASSES OF GROWTH OPPORTUNITIES
Marketing Management is essentially a DEMAND Management
ive growth ntegrative growth iversification g
Penetration ackward Integration oncentric DiversificationDevelopment orward Integration orizontal Diversification Development orizontal Integration onglomerate Diversification
Market PenetrationStrategy
Product DevelopmentStrategyMarket Development
Strategy
Diversification
Strategy
urrent Products
ew Markets
urrent Markets
ew Products
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INTEGRATIVE AND DIVERSIFICATION GROWTH
Marketing Management is essentially a DEMAND Management
Suppliers
Company
Competitors
hole Sellers Retailers inal Customer
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BUSINESS STRATEGIC PLANNING
Marketing Management is essentially a DEMAND Management
ness Mission
eedback nd
Control
nternalEnvironmentAnalysis
External
nvironment Analysis
Implementationrogram
formulationoal formulation
Strategyformulation
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MACRO & MICRO ENVIRONMENT
Marketing Management is essentially a DEMAND Management
MACROENVIRONMENT
MICROENVIRONMENTDEMOGRAPHIC/ECO
NOMICCUSTOMERS
TECHNOLOGICAL COMPETITORS
POLITICAL/LEGAL DISTRIBUTIONCHANNELSSOCIAL/CULTURAL SUPPLIERS
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OPPORTUNITY MATRIX
Marketing Management is essentially a DEMAND Management
1 2
3 4
High Low
High
Low
Attractiveness
uccessProbability
:NITY It is an area of need in which a company can perform profita
t is a challenge posed by an unfavorable trend or development that
, ,ould lead in the absence of defensive marketing action to rofit deterioration
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THREAT MATRIX
Marketing Management is essentially a DEMAND Management
1 2
3 4
High Low
High
Low
Seriousness
robability ofoccurrence
:NITY It is an area of need in which a company can perform profita
t is a challenge posed by an unfavorable trend or development that
, ,ould lead in the absence of defensive marketing action to rofit deterioration
STRENGTH / WEAKNESS ANALYSIS
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STRENGTH / WEAKNESS ANALYSIS
Marketing Management is essentially a DEMAND Management
Major Strength
Minor Strength
Neutral Minor Weakness
Major Weakness Hi Med Low
Marketing
Company ReputationMarket ShareProduct Quality
Service QualityPricing EffectivenessDistributionEffectivenessFinance
Cost / Availability of
capitalCash flowFinancial Stability
Performance
Importance
STRENGTH / WEAKNESS ANALYSIS
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STRENGTH / WEAKNESS ANALYSIS
Marketing Management is essentially a DEMAND Management
Major Strength
Minor Strength
Neutral Minor Weakness
Major Weakness Hi Med Low
ManufacturingFacilitiesEconomies of scaleCapacityAble dedicated
workforceAbility to produce ontimeTechnicalmanufacturing skillsFinanceVisionary capableleadershipDedicated employees
EntrepreneurialorientationFlexible and responsive
Performance
Importance
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STRATEGY FORMULATION
Marketing Management is essentially a DEMAND Management
• ver all cost leadership•Differentiation
•Focus
PROGRAM FORMULATION
• …echnological Leadership etc
IMPLEMENTATION• !trategy is only one of seven elements
-S Framework
FEEDBACK AND CONTROL
• ,ontrol Review and if required change
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7-S FRAMEWORK
Marketing Management is essentially a DEMAND Management
McKinsey
Strategy
Skills
Structure
Systems
Staff
hared Values
Style
MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
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MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
Marketing Management is essentially a DEMAND Management
, , , ,IS consists of people equipment and procedures to gather sort, , , ,nalyze evaluate and distribute needed timely and accurate
nformation to marketing decision making
keting Managers
ANALYSIS
PLANNING
IMPLEMETATION
CONTROL
ASSESSING NFORMATION NEEDS
DISTRIBUTINGINFORMATION
NTERNAL RECORDSMARKETINGINTELLIGENCE
MARKETINGRESEARCH
MARKETINGDECISION
UPPORTANALYSIS
arketing ENVIRONM
ARGET MERKETS
ARKETING CHANNEL
COMPETITORS
PUBLICS
ACROENVIRONMENT FO
ARKETING INFORMATION SYSTEM
EVELOPING INFORMATION
AKING DECISIONS ANDCOMMUNICATING
ANALYSING MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
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Marketing Management is essentially a DEMAND Management
TERNAL RECORDS
ANALYSING MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
•
•
• SALES• PRICES• INVENTORY LEVELS• RECEIVABLES• PAYABLES etc..
•
ORDER TO REMITTANCE CYSCLE
SALES REPORTING SYSTEMS DESIGNING A USER-ORIENTED REPORTS SYSTE
MARKETINGINTELLIGENCE
•
It is a set of procedures and sources used by managers to obtain their everyday information about pertinent developments i
Ways of Scanning
•Undirected Viewing•Conditional Viewing
•Informal Search•Formal Search
ANALYSING MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
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Marketing Management is essentially a DEMAND Management
ANALYSING MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
MARKETINGRESEARCH
ection, analysis, and reporting of data and finding relevant to a specifi
rch
irmsfirms
esearch firms
rch
ANALYSING MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
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Marketing Management is essentially a DEMAND Management
ANALYSING MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
he Marketing Research Process
•
– .ollecting the information Most expensive and most liable for error
r ob lem a nd r ese ar ch o bj ect ive s eveloping
he esearch Plan
Collecting he
Information
nalyzing he
information
resenting he
findings
ANALYSING MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
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Marketing Management is essentially a DEMAND Management
ANALYSING MARKETING INFORMATION SYSTEM & MARKETING RESEARCH
he Marketing Research Process eveloping the Research Plan
Data
Sources
•Secondary Data
Internal Sources, Government Publications, Periodicals and Books, Commercial Data•Primary Data
ResearchApproaches
Observational research, focus group research, surveyresearch, experimental
researchResearchInstrumen
ts
Questionnaires•Closed End – Dichotomous, Multiple choice, Likert Scale,
Semanticdifferential, Importance scale, Rating scale, Intention to
buy scale•Open End – Completely unstructured, Word association,Sentence completion,
Story completion, Picture completion, Thematicappreciation test
Sampling
Plan
•Sampling unit•
Sample size•Sampling procedure : Probability(simple random,stratified random, cluster) Non Probability Sample( Convenience,
judgment, quota)
ContactMethods
Mail questionnaire, telephone interviewing, Personalinterviewing
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CHARACTERISTICS OF GOOD MARKETING RESEARCH
Marketing Management is essentially a DEMAND Management
• CIENTIFIC METHOD• ESEARCH ACTIVITY• ULTIPLE METHODS
• NTERDEPENDENCE OF MODELS and DATA• ALUE AND COST OF INFORMATION• EALTHY SKEPTICISM• THICAL MARKETING
MYTHS THAT HAVE TAKEN MARKETING MANAGEMENT DOWN THE WRONG PATH
• brands best prospects are the heavy buyers in thecategory• ,he more appealing a new product is the more likely it
ill be a success
• he effectiveness of advertising is revealed by how emorable and persuasive t is• company is wise to spend the major portion of its
esearch budget on focus roups and qualitative research
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WHY MARKET RESEARCH IS NOT UTILIZED PROPERLY
Marketing Management is essentially a DEMAND Management
• Narrow conception of marketing research• neven caliber of marketing researchers• ate and occasional erroneous findings by
arketing research• ntellectual differences
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MARKETING DECISION SUPPORT SYSTEM
Marketing Management is essentially a DEMAND Management
….. , ,coordinated collection of data systems tools nd techniques with support software and hardware
y which an organization gathers and interprets elevant information from business and environment.nd turns it into basis of marketing action
Marketing Data
Marketing Decision Support System
Marketing evaluations and
tatistical Bank
egression analysis orrelation analysis
actor analysis iscriminate analysis
luster analysis o joint analysis……..tc etc etc
•
odel Bank
roduct design model ricing model
ite selection model-edia Mix model
dvertising budget model…tc etc etc
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DEMAND MEASUREMENT AND FORECASTING
Marketing Management is essentially a DEMAND Management
roductLevel
paceLevel
imeLevelong
Range edium
Range hort
Range
Customer
llsales
ndustry
Sales ompanySales
roductline
roductform
roductItem
Territ o
ry
Region
USA
World
0 types of demand meas
x 5 x 3
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Marketing Management is essentially a DEMAND Management
arket is a set of all actual and potential buyer of a,roduct and All Potential
uyers would have 3 characteristics
•Interest•Income•Access
DEMAND MEASUREMENT AND FORECASTING
otal Market otential Market
otentialMarket 0
%
%00otalPopulation
otentialMarket
%00
%0
%0
%0
%
vailable
Market
ualified vailable
Market
ervedMarket
enetratedMarket
VOCABULARY FOR DEMAND MANAGEMENT
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Marketing Management is essentially a DEMAND Management
VOCABULARY FOR DEMAND MANAGEMENT
ARKET DEMAND
ned customer group in a defined geographical area in a defined tim
ARKET FORECAST
f Industry where marketing expenditure actually occur is Marketing
ARKET POTENTIAL
,ket demand as industry marketing expenditures approach infinity fo
VOCABULARY FOR DEMAND MANAGEMENT
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Marketing Management is essentially a DEMAND Management
VOCABULARY FOR DEMAND MANAGEMENT
OMPANY DEMAND
’ .( = )t is the company s share of market demand Qi SiQ= ’i Company s Dmand= ’i Company s Market Share
=Total Market Demand
OMPANY FORECAST
.chosen marketing plan and an assumed marketing environment
, .ompany division or sales representative It is primarily a manager
ed volume of sales and is used primarily for making current purchasales
Quota
alesBudget
OMPANY POTENTIAL
pproached by company demand as company marketing effort increases
ESTIMATING CURRENT DEMAND
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ESTIMATING CURRENT DEMAND
Marketing Management is essentially a DEMAND Management
= nqp
= =Total Market Potential n
/umber of buyers in the specific product market= =Quantity purchased by an average buyer p Price of an
verage unit
alls for identifying all the potential buyers in each.arket and estimating their potential purchases It is effective and
fficient if one has a list of all potential buyers and a good estimate of.hat each will buy
– ne of the best methods used is Index.ethod
= . + . + .i 0 5Yi 0 3 Ri 0 2Pi
=i Percentage of total national buying power found in
rea I=i Percentage of national disposable personal income
riginating in area I=i Percentage of national retail sales in area I=i Percentage of national population located in area I
OTAL MARKET POTENTIAL OTAL MARKET POTENTIAL
ARKET BUILD UPMETHOD
-ULTIPLE FACTOR INDEXMENTHOD
REA MARKET POTENTIAL REA MARKET POTENTIAL
RAND DEVELOPMENT INDEX MENTHOD
ESTIMATING FUTURE DEMAND
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Marketing Management is essentially a DEMAND Management
ESTIMATING FUTURE DEMAND
OPLE SAY WHAT PEOPLE DO WHAT PEOPLE HA
MACROECONOMIC FORECAST
xpert Opinion rend Exploration rend Correlation
conometric Modeling-ross Impact Analysis
ultiple Scenarios
emand Hazard forecasting
INDUSTRY FORECAST
COMPANY SALES FORECAST
ENVIRONMENT FOR MARKETING DECISIONS
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ENVIRONMENT FOR MARKETING DECISIONS
Marketing Management is essentially a DEMAND Management
TREND
direction or sequence of events which have some momentum and dura
AJOR MACROENVIRONMENT FORCES
mographic Environment
orld wide explosive population growth opulation age mix determines needs
thnic Markets ducational groups
ouse hold patterns eographical shifts in population
hift from macro markets to micro markets
CONTENTS OF MARKETING PLAN
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CONTENTS OF MARKETING PLAN
Marketing Management is essentially a DEMAND Management
. xecutive Summary quick plan fro quick management skimming
. urrent Marketing Situation arket Situation roduct Situation
ompetitive Situation istribution Situation
acro Environment Situation. pportunity and Issue Analysis
/pportunity Threats Analysis/trengths Weakness Analysis
.Objectives inancial Objectives arketing Objectives
CONTENTS OF MARKETING PLAN 2
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CONTENTS OF MARKETING PLAN - 2
. arketing Strategy arget Market
Positioning roduct LinePrice
istribution Outlets ales force
ServiceAdvertising
ales Promotion esearch and development arketing Research
. ction Programs
. rojected profit and loss statement
.Controls