MARKETING

PLAN
Week 7 A - D
THE MARKETING
PLAN
A marketing plan is a written document that contains a
detailed analysis of the current market situation, trends in
the industry, opportunities and threats for the product,
marketing objectives and specific action plans for the
marketing mix (product, price, place, promotion). It serves to
document how the company's strategic goals will be achieved
through specific marketing efforts and tactics.
 A marketing plan analyzes market situation and trends, and makes
recommendations for action plans to be taken for the marketing mix
(4Ps).

"The single most important thing for a small business to include in

its marketing plan is a very clear understanding of its customers
and its competitors", said Robert Thomas, professor of marketing at
the McDonough School of Business Georgetown University.
Thomas said the development of a marketing plan requires four
specific tasks.
4 SPECIFIC TASKS
Develop a very clear and focused insight into why a
1 potential customer would use your business. More
specifically, what is the core need that your product
or service will meet ? Is it to help your customers
get through the day more easily? Your offering
should be designed to meet customer needs better
than the competition.
4 SPECIFIC TASKS
Identify your target customers. There are
2 numerous potential customers in most markets,
but to succeed faster and better, a small business
must study the market to determine the
characteristics of its best target customers. The
target customers should be described in details.
4 SPECIFIC TASKS
Identify competitors that would also want your
3 target customers.There is always a competitor,
never make the mistake of assuming there isn't.
Small businesses seldom take the time to study
their competitors in depth
4 SPECIFIC TASKS
Write down your brand-positioning statement for your
4 target customers. Ultimately, your brand and what it
symbolizes for customers will be your strongest
competitive advantage. You should be able to write down
a simple declarative sentence of how you will meet
customer needs and beat the competition. The best
positioning statement are those that are single-minded
and focus on target customer needs.
 COMPANIES ALSO NEED TO
INCORPORATE MULTIPLE CHANNELS
INTO THEIR MARKETING PLANS. SOME
OF THE MOST POPULAR CHANNELS
FOR TODAY'S BUSINESSES INCLUDE:
a. Social Media Marketing
Brett Farmiloe, a founder of Internet marketing company
Markitors, advised companies that are just getting started
in social media to get to know their customers. "Figure out
where your customers are spending their time and set up a
shop on those platforms", Farmiloe told Business News
Daily.
 COMPANIES ALSO NEED TO
INCORPORATE MULTIPLE CHANNELS
INTO THEIR MARKETING PLANS. SOME
OF THE MOST POPULAR CHANNELS
FOR TODAY'S BUSINESSES INCLUDE:
b. Email Marketing
Though email marketing may not be as new of a concept as
social media marketing,, it is an effective and popular choice
for many small business owners. Computers can implement
email-marketing techniques in a number of ways, including
newsletters, promotional campaigns and transaction emails.
 c. Mobile Marketing
The popularity of smartphones and tablets has helped to change
the way companies, target their customers. As a result,
companies are looking to implement strategies that reach
customers on their devices.

To optimize you mobile marketing presence, carefully consider

how and when you reach your mobile customers. Be sensitive to
when and why they use their phones and offer them information
that is pertinent to their situations.
 THERE ARE THREE HELPFUL ITEMS
THAT SHOULD BE ESTABLISHED AND
PLACED IN MIND BEFORE DOING THE
MARKETING PLAN.

1. A completion date - A deadline is set in

advance for when the company wants to
complete the first draft of the plan. It's
important to remember that establishing an
effective plan will be an iterative process.
 THERE ARE THREE HELPFUL ITEMS
THAT SHOULD BE ESTABLISHED AND
PLACED IN MIND BEFORE DOING THE
MARKETING PLAN.

2. The responsible parties - Establish the

team's roles and responsibility. In other words,
make sure to identify who is doing what and
what they need it completed.
 THERE ARE THREE HELPFUL ITEMS
THAT SHOULD BE ESTABLISHED AND
PLACED IN MIND BEFORE DOING THE
MARKETING PLAN.

3. The budget- When it comes to putting

together a marketing strategy, it's critical to
establish ahead of time how much the company
has to spend, as that can have a major impact
on the strategies marketers would decide to
implement.
The marketing mix (product, price, place and promotion) is vital in the creation of
a marketing plan.

The product is the solution that a company provides to the market's needs or
wants, and thus, represents the value that the company will offer to the
consumers. This value dictates the price of the product. Place is another
important component because it makes the product available to its consumers.
Lastly, promotion ensures that awareness or interest is created for the product.

In creating a marketing plan, each component of the marketing mix must be

aligned with the target market as these components are very important in
motivating the potential market to buy the product or service.
 CONTENTS OF A MARKETING PLAN

Below is an outline of the typical content of a marketing

plan. For the purpose of accomplishing your final output
for this subject, the assumption is that you will develop
your own product and formulate your own marketing
programs. The outline has been made to fit the
conceptualization of a new product from scratch. The
objectives should focus on introducing the new product in
the market and creating awareness of the product.
 I. EXECUTIVE SUMMARY

A marketing plan starts with an executive summary. An executive summary

presents an overview of the marketing plan. It is a brief description of the
market situation, objectives and the general idea of the marketing
strategies.
The executive summary should be less than one page long; ideally it should
be about a half page long. Most marketing plan writers find it easier to
write a plan's summary last, even though it appears first in the plan. A
summary is hard to write when you don't know the whole plan, so waiting
until the plan is complete makes writing the executive summary easier.
 II. SITUATION ANALYSIS

Situation analysis presents information about industry and

market situations. The discussion focused on the different
factors that affect a company's competitiveness.
A. SWOT Analysis- is determined and designed to help us
assess the market. This takes a detailed look at the internal
strength and weakness of the business, as well as the external
opportunities and threats in the marketplace.
 B . Environmental Analysis
PEST is the acronym for political, economic, sociocultural, and technological
analysis, which mostly cover the macro environment of marketing. It helps
the company identify opportunities and threats in four major areas, or to
reveal the direction of change within the business environment.
SAMPLE MARKETING PLAN
C. Competitors Analysis - Competitors offer products belonging in the same
product category or industry. They try to offer the most superior value to
the consumers in order to earn a bigger market share and profits. To be able
to counter competitors, companies must determine their competitive
advantage and capitalize on it in their marketing efforts.
 1. Direct competitors are products that are directly
competing against the company's product. They have
similar offerings and pricing strategy.

2. Indirect competitors belong to the same product

category, but they have different offerings and pricing
strategy.
 III. Objectives

Objectives are the goals of the marketing plan that the company wants to achieve after
the plan has been implemented. Objectives should follow the SMART mnemonic:

Examples:
-To increase sales of the new product by 15% every month.
-To generate at least 4% redemption rate of brand coupons.
 STARBUCKS MARKETING PLAN
Introduction

Starbucks Coffee Company is the largest company worldwide operating

in more than 50 countries. It is considered as the premier retailer of
specialty coffee and is also known for offering a one-of-a-kind
experience in drinking coffee. It was founded by Jerry Baldwin, Zev
Siegel, and Gordon Bowker in Seattle, Washington in 1971.

Overall, starbucks employs customer excellence, product excellence,

operational excellence and locational excellence.
 SWOT Analysis
Strengths
- excellent customer service
-strong brand identity and brand recall
-largest coffee demographic market segments
-multiple demographic market segments
Weaknesses
-fast growth can make the company complacent in terms of customer
service
-high cost to maintain excellent customer service
 Opportunities
-continuous patronage of coffee drinkers
-strong preference of millennials to drink coffee than any
other drink
Threats
-influx of coffee companies with unique tastes and flavors
around the world
- countries where Starbucks is not allowed to operate, like
Italy
 Marketing Objectives
- to launch mobile order and pay and delivery in the
US
-to achieve $30 billion revenue in 2019 worldwide
-to double its store count to about 500 stores in
2016 and over 3,000 stores in China by 2019
-to retain global leadership in the coffee market.
 Target Market
Starbucks has the following worldwide geographic segments: the
Americas, China and the Asia-Pacific, Europe, the Middle East, and
Africa. In terms of demographics, Starbucks is marketed to
members of the upper class in the coffee market. The closest
competitors are Dunkin Donuts and McDonalds.

Marketing Mix
Starbucks executes the following strategies for each of the 4Ps.
 Product
-Starbucks will continue to offer the following
products coffee, tea, pastries, Frapuccino beverages
and smoothies.

-Starbucks will offer the following merchandise: mugs,

instant coffee, etc
 Product
-Starbucks will offer the following juice blends through its
subsidiary Evolution Fresh Coconut Water and Greens, Smooth
Greens, and
Organic Sweet Greens and Ginger
-Coconut Water and Greens is a combination of coconut water;
cucumber; leafy greens, and pineapple
-Smooth Greens consists of leafy greens, cucumber, pineapple,
apple and mint.
-Organic Sweet Greens and Ginger is a combination of green
vegetables, apple, lemon, and ginger.
 Price
- Starbucks will continue to use the customer's perceived
pricing strategy where the customers put a high value on the
product.
- Compared to coffee from Dunkin Donuts and McDonald's
Starbucks products are more expensive. Starbucks will still
be priced higher than its competitors.
 Placement
• Starbucks offers its products in their cafes, retailers,
online stores, and Starbucks app.
• Single-origin coffees from Guatamelas, Rwanda and Timor
will be available in groceries and supermarkets.
• Ready-to-drink brewed iced coffees will be available in
supermarkets and groceries.
• Starbucks will launch mobile order and pay where
customers can order in advance and pick their items at their
choses Starbucks café.
• Starbucks will introduce mobile service through mobile
trucks in selected colleges and offer food similar to what is
offered in Starbucks cafes.
 Promotion
• Starbucks will continue to use advertising (print,
Internet, billboards), public relations and sales
promotions.
• Starbucks will introduce Starbucks for Life with 14
customers to be declared as winners. The prize will be
a 10-karat hammered gold card, engraved with the
customer's name and a free Starbucks beverage or
food item every day for the next 30 years.
THANK
YOU