Marketing Strategy Flashcards
• Is a comprehensive document that outlines a company’s overall marketing effort.
• It is a blueprint that outlines how a company will implement its marketing strategy, and use a combination of resources to achieve business objectives including sales targets or customer acquisition.
Marketing Plan
4 P’s of Marketing
Product
Place
Price
Promotion
Short summary of main goals and recommendations so that leadership/management team can get a quick idea of the key points.
Executive Summary
What is the market? Who is the market? What are the trends?
Market description
What is happening at a macro level and a micro level? What is the potential impact to the business?
Environment
Discuss both direct and indirect competitors. Include a SWOT of main competitors along with their market position, sales, pricing, distribution, marketing strategy and marketing programs.
Competitive review
Include sales team, partners, e-commerce, referrals and delivery systems.
Channel and logistics review
Include information about your offerings, sales, gross margin and stage of the product lifecycle.
Product review
In a given period of time (the one that the plan covers) select the objectives and goals that your marketing must reach and spot any possible issues.
Objectives and issues
This is how your company plans to engage customers, deliver value, create strong relationships and attain the business and marketing objectives.
Marketing strategy
What makes you distinctive in the mind of a customer? Would your customer agree?
Positioning
Why would someone buy from you vs. a competitor?
Value proposition
What is the roadmap (or future plan) for the product?
Product strategy
What is the pricing strategy (e.g. economy, luxury) and should it be revised?
Pricing
What channels are used to move the product through the supply chain? Are there improvements or new channel opportunitie
Distribution
Identify the programs that will be used to generate sales and/or leads for sales teams.
Lead sales
How will you share news, get mentions and build credibility?
Public relations
What types of programs, tools, and resources do you need to reach objectives? This can include advertising, content, and sponsorships.
Offline and Online
This should be part of any communications strategy. It is called out here because it is such an important communication channel.
Mobile
What trade shows, conferences, and other events will contribute to reaching the objectives?
Events
This is important, as on going research to understand your customers and market is critical. This will help you monitor and be aware of the perception (what is being said) about you in the market.
Market research
The details to turn the strategies into a calendar of programs.
Action program
The costs of all related programs including anticipated sales, revenue and costs of all marketing related activities.
Budget
The KPIs(key performance indicators) you will use to measure results.
Controls
