Scott Cochran, Dean of The Mungo Center for Professional Excellence at Wofford College in Spartanburg, SC, explains the basics of what a marketing plan is and why your business or organization should have one. View the presentation video at www.wofford.edu/center/howto

3. Marketing…
The goal is not to be something to
everyone, the goal is to be everything to
someone.

4. Agenda
• What Marketing Is
• Neanderthal Marketing
• Basic Structure of a Marketing Plan
• Discussion

5. Marketing Is …
… the art of finding, developing
and profiting from opportunities.
Tradtionally…
P‟s - Price, Product, Promotion, and Place
C‟s - Customer solution, Customer cost,
Convenience, Communication
Philip Kotler, Kellogg School of Management

6. Marketing Is …
In order to be effective at marketing, an
organization needs to understand:
• Primary target (Customers)
• Others who want your target
(Competition)
• Where your targets „shop‟ (Marketplace)

7. Neanderthal Marketing
• Equating marketing with selling
• Emphasizing customer acquisition rather than
customer care
• Trying to make a profit on each transaction rather
than trying to profit by managing customer lifetime
value
• Pricing based on marking up cost rather than target
pricing
• Planning each communication tool separately rather
than integrating marketing communication tools
• Selling the product rather than trying to understand
and meet the customer‟s real need

8. The Marketing Plan
• Overview
• Vision or Mission
• Marketing Objectives
• Market Segments/Segmentation
Strategy/Discussion of Needs
• Product Definition
• Communications Strategy
• Distribution Channels
• Competitive Analysis
• Tactical Plan
• Budget
• Marketing Resources
• Measurement

9. The Marketing Plan
• Overview
• Vision or Mission
• Marketing Objectives
• Market Segments/Segmentation
Strategy/Discussion of Needs
• Product Definition
• Communications Strategy
• Distribution Channels
• Competitive Analysis
• Tactical Plan
• Budget
• Marketing Resources
• Measurement

10. The Marketing Plan
• Marketing Objectives
• Market Segments/Segmentation
Strategy/Discussion of Needs
• Communications Strategy
• Tactical Plan
• Budget
• Measurement

11. The Marketing Plan
•Marketing Objectives
– What are you going to accomplish?
• Market Segments/Segmentation
Strategy/Discussion of Needs
– Break down your market into segments and address each
segment‟s need
• Communications Strategy (advertising, PR,
direct marketing)
– What will you tell people to attract them?
– How will you tell them?
• Tactical Plan
– What are the activities you will conduct to “close the deal”?
• Budget
– How will you effectively use your funds?
•Measurement
– How will you judge success?