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Chapter
3
DEVELOPING A
MARKETING
PLAN
Prepared by
Simon Hudson, Haskayne School of Business
University of Calgary
and
Marion Joppe, University of Guelph
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
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
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Marketing plan
• a written, short-term plan that details how an
organization will use its marketing mix to
achieve its marketing objectives
Strategic marketing plan
• a written plan for an organization covering a
period of three or more years into the future
Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Marketing
Planning –
Eight Step
Process
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
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.
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Mission Statements
• The Canadian Tourism Commission
“to increase awareness of and interest in Canada as a fourseason 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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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Step 2: Analyzing and Forecasting
•
•
•
•
•
Portfolio analysis
Competitor analysis
Segmentation analysis
SWOT analysis
Forecasting
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Portfolio 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
Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
The Boston Consulting Group
(BCG) Model
Figure 3.2
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Boston Consulting Group Model
Cash cow
•
generates a high volume of income in relation to the cost of maintaining
its market share
Dog
•
•
provides neither cash flow nor long-term opportunities
holds little promise for improved performance
Stars
•
have a dominant share of a fast-growing market
Question marks
•
potentially high-risk products or services that may be profitable and,
because of their small market share, may be vulnerable to competition
Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Segmentation Analysis
• Segmentation
– how organizations identify and categorize customers into
clearly defined groups with similar characteristics, needs,
or desires
• Five types:
• Demographic
• Psychographic
• Geographic
• Benefit
• Behaviour
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
SWOT Analysis
• Strengths and Weaknesses
– internally focused
– those things an organization does best and positive features of
its products and services) and weaknesses (problems that affect
its success)
• Opportunities
– 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
• Threats
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– internal and external elements that could have a detrimental
effect on a business
– Example: September 11, 2001 and SARS
Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
SWOT Analysis of Canada as a
Destination from Australia
Table 3.1
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Weaknesses
Table 3.1
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Opportunities
Table 3.1
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Threats
Table 3.1
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Step 3: Setting Marketing Goals and
Objectives
• Goals
– primary aims of the organization
– can be defined in terms of sales growth, increased
profitability and market leadership
• 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.
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Step 4: Targeting and Positioning
•
Target Market
–
•
Positioning
–
•
clearly defined market whose needs the company plans
to satisfy
establishing an image for a product or service in relation
to others in the marketplace
Product Differentiation
–
technique that enables organizations to gain competitive
advantage by offering a product that has features not
available in offerings of competitors
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Step 4: Targeting and Positioning
•
•
Unique selling proposition (USP)
– unique feature of a product or service that
distinguishes it from all other products and
services
Branding
– 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
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Step 5: Tactics and Action Plans
• The marketing plan for Superior North included
strategies of:
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–
–
–
–
–
–
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Creative branding
Partnership development
Integrated communications
Stakeholder outreach
Tourism package development
Regional/community team building
Eco-tourism development
Festival/theme events
Aboriginal tourism development
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Copyright © 2009 by Nelson Education Limited.
Developing a Marketing Plan
Chapter
3
Final Three Stages
• 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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Copyright © 2009 by Nelson Education Limited.