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you have exam after interview as marketing Director, this exam to make brief marketing plan for group of manufacturing company you need to do this test with very perfect way
Each product or a career marketing plan, especially depending on the time and the target allocations and a lot of things
Following points are required to follow, while designing Marketing Plan.
a) The Executive Summary.
The Challenge. This section should contain a brief description of the product(s) and/or product line(s) that your company offers.
b) Situation Analysis
1. Company Analysis:
2.Customer Analysis:
3. Competitor Analysis:
c) PEST” Analysis.
d) SWOT Analysis
e) Market Segmentation
f) Selected Marketing Strategy
“Four P’s”
g) Short and Long-Term Projections
h) Conclusion (expanded version of your Executive Summary)
As you mentioned its a manufacturing company so Marketing Plan should be based on customer survey, Market trends, Market analysis, Growth percentage, Target Customers, In Depth analysis on ROI,Branding, Tackling demand & supply (SCM).
A Marketing Plan is usually part of the Business Plan. Some of the main bullet points of a proper Marketing Plan consist of (In brief):
I beleive simply, every marketing plan has to fit the needs and situation. There are standard components you just can’t do without. A marketing plan should always have:1- A situation analysis.2- Marketing strategy.3- Sales forecast.4- Expense budget.
In order to begin thinking of a "Marketing Plan", first, the big picture should be apprehended and felt, adequately. The "Mission & Vision" statements help implement that verbally. However, the Vision statement have to be as characterized as following
1- Short (Preferably 1 sentence)
2- Should give a glimpse of the industry
3- States an achievable long-term goal (ex: Country's no.1 waffle makers)
A result of a clear solid Vision statement shall help generate a comprehensive Mission statement, which is "the reason for being" - or having that vision - statement. Thus, it should remarkably deliver a distinguish message declaring what is that will be done to ensure the implementation of the vision. The Mission statement should contain the 9-core elements:
(1) Customer (2) Product/Service (3) Targeted market (4) Technology (5) Survival tools (6) Core Beliefs (7) Self-Concept (8) Public Image (9), Employees
It is preferable, in order to make a Marketing Plan, to generate a Marketing Research. The firm’s internal and external environment should be scanned and competitors must be benchmarked.
Generally, the process of Marketing planning should go through 4 main phases: Goals setting, Situation Analysis, formulating strategies, Allocating Marketing resources.
1- Goals Settings: Includes what “Where we want to be?” – Vision-, “What we do to arrive there?” – Mission – to then set the major corporate strategies, and goal-setting.
In goal-setting, decisions about the targeted audiences/customers are taken, and upon which strategies should be driven to develop tactics in order to deliver the value. Thus, setting Marketing Goals too (“Which product to be developed, or launch a new one?”; Increase Market share, or expand the market; increase sales revenue).
2- Situation Analysis: Includes analyzing the current marketing tools (4 P’s), SWOT Analysis, competitive analysis, and assumptions about future firm-market situations.
3- Formulating Strategies: Includes formulating marketing strategies, competitive strategies, tactics and alternatives to achieve the plan’s goals, besides foreseeing future results. In this phase, the decisions for the strategies’ implementation methods, its timing, and their backup plans.
4- Allocating Marketing Resources: Includes aligning all firm’s resources (departments/individuals – cash – suppliers - marketing tools – documented strategies) and implement the plan’s pillars.
Considering the pillars (Components), I have the discussed the first step above, which having a solid picture and understanding of the Vision & Mission.
The second component is “Situation Analysis”, where the current and desired state are analyzed.
The third step is “Targeting Audiences”, as to analyze and identify the market segments then select the best which suits the firm’s vision, mission, strategies, goals, and resources.
Now the fourth one is: “Setting Marketing Goals” to plan what will be gained from the targeted audiences
The fifth component will be “Marketing strategies” to overcome competition and accomplish “Positioning” in consumers’ minds with a differentiated characteristic when it comes to the market’s similar products/services.
Lastly, the sixth component is “Setting marketing budget”. This process entails projecting setting the cash needed for the whole plan to be implemented. Moreover, it projects the Return on Investment (ROI) of this plan, and the percentages the expenses from future/projected sales revenue.
In conclusion, these are briefly the 5 main components of a Marketing Plan:
1- Generating/Understanding Mission & Vision Statements
2- Situational Analysis
3- Targeting Audiences
4- Marketing Strategies
5- Setting Marketing Goals
6- Setting Marketing Budget
marketing plan should should reflect the plan of actoin of the company overall strategy...it is the strategy excecution arm.
conduct the SWOT then plan for 4P's Market mix strategy
Starting your Marketing Plan would be effective using the elements of Core Marketing , as first identifying your Marketing Mix : Product , Place , Process, Promotion, Price & People
then start analyzing your promotion mix : Advertising , Personal Selling, Direct Marketing , Sales Promotion & Publicity
once you form all above elements and identify it , u can start your Marketing Plan :
1- Step 1 . Conduct Market Research via Agencies and social Media .
2- Step 2 . Analyze your Market Research Results in order to identify your targeted segment..
3- Step 3 . Analyze your targeted segment Customer using Hofsted Cultural Analysis and SWOT Analysis .
4-Step 4. Set your budget and costs .
5- Step 5. Launch your Product or Service using elasticity philosophy of the pricing and keep an eye on Product Life Cycle .
6- Step 6 . Implement your promotion mix strategy and elements .
7- Step 7 . Calculate your P/L for this product or service , then revise your plan and improve .
That s a short illustration for marketing plan and strategy easily can be implemented .
Hope it benefits all .
Mansour
