Idea Transcript
INTRENT MARKETING PLAN WORKSHEETS These worksheets are designed to assist you in writing a formal internet marketing plan. Worksheets are a useful planning tool because they help to ensure that important information is not omitted from the marketing plan. Answering the questions on these worksheets will enable you to: 1) organize and structure the data and information you collect during the environmental analysis, 2) use this information to better understand the strengths and weaknesses of your organization, and to recognize the opportunities and threats that exist in the marketing environment, 3) develop goals and objectives that capitalize on the strengths of your organization, 4) develop marketing strategies that create competitive advantages, and 5) outline a plan for implementing the marketing strategies. Remember that there is no one best way to organize a marketing plan. The outline was designed to serve as a starting point and to be flexible enough to accommodate the unique characteristics of your situation. I. Executive Summary The executive summary is a synopsis of the overall marketing plan. The executive summary is easier to write if you do it last, after you have written the entire marketing plan. II. Environmental Analysis A. The External Environment Competitive forces Who are our major competitors? What are their characteristics (size, growth, profitability, strategies, target markets)? Brand competitors: Product competitors: Generic competitors: Key total budget competitors: What are our competitors' key strengths and weaknesses? What are our competitors' key marketing capabilities in terms of products, distribution, promotion, and pricing? What response can we expect from our competitors if environmental conditions change or if we change our marketing strategy? Is this competitive set likely to change in the future? If so, how? Who are our new competitors likely to be? Economic growth and stability What are the general economic conditions of the country, region, state, and local area in which our firm operates? Overall, are our customers optimistic or pessimistic about the economy? What is the buying power of customers in our target market(s)? What are the current spending patterns of customers in our target market(s)? Are they buying less or more of our product and why? Political trends Have recent elections changed the political landscape within our domestic or foreign markets? What type of industry regulations do newly-elected officials favor? What are we currently doing to maintain good relations with elected officials? Have these activities been effective? Why or why not? Legal and regulatory factors What changes in international, federal, state, or local laws and regulations are being proposed that would affect our marketing activities? Do recent court decisions suggest that we should modify our marketing activities? Do the recent rulings of federal, state, local and self-regulatory agencies suggest that we should modify our marketing activities? What effect will changes in global trade agreements have on our international marketing opportunities? Changes in technology What impact has changing technology had on our customers? What technological changes will affect the way we operate or manufacture our products? What technological changes will affect the way we conduct marketing activities, such as distribution or promotion? Do current technologies exist that we are not using to their fullest potential in making our marketing activities more effective and efficient? Do any technological advances threaten to make our product(s) obsolete? Cultural trends How are society's demographics and values changing? What effect will these changes have on our: product(s): pricing: distribution: promotion: people: What problems or opportunities are being created by changes in the cultural diversity of our customers and employees? What is the general attitude of society about our industry, company, and product(s)? Could we take actions to improve this attitude? What consumer or environmental groups could intervene in the operations of our industry or company? What ethical issues should we address? B. The Customer Environment Who are our current and potential customers? Demographic characteristics: sex, age, income, occupation, education, ethnic background, family life cycle, etc. Current customers: Potential customers: Geographic characteristics: location, density, etc. Current customers: Potential customers: Psychographic characteristics: attitudes, opinion, interests, motives, lifestyles Current customers: Potential customers: Do the purchasers of our products differ from the users of our products? Who are the major influencers of the purchase decision? Who is financially responsible for making the purchase? What do our customers do with our products? In what quantities and in what combinations are our products purchased? How do heavy users of our products differ from light users? How do customers use complementary products with our products? What do our customers do with our products after consumption? Do they recycle our products or our packaging? Where do our customers purchase our products? From what types of intermediaries are our products purchased? Retail stores: Wholesale outlets: Catalog outlets: Electronic outlets: How does electronic commerce have an effect on the purchase of our products? Will this effect change in the future? Are our customers increasing their purchasing from nonstore outlets such as catalogs, home shopping networks, or the Internet? When do our customers purchase our products? Are the purchase and consumption of our products seasonal? To what extent do promotional events affect the purchase and consumption of our products? Do the purchase and consumption of our products vary based on changes in physical/social surroundings, time perceptions, or the purchase task? Why (and how) do our customers select our products? What are the basic benefits provided by our products and our competitors' products? What are the customer needs that are fulfilled by the benefits delivered by our products and our competitors' products? How well do our products and our competitors' products meet the needs of our customers? How are the needs of our customers expected to change in the future? What methods of payment do our customers use when making a purchase? Are our customers prone to developing close long-term relationships with us and our competitors, or do they buy in a transactional fashion (primarily on price)? Why do potential customers not purchase our products? What are the basic needs of noncustomers that are not being met by our products? What are the features, benefits, or advantages of competing products that cause noncustomers to choose them over our products? Are there issues related to distribution, promotion, and pricing that cause customers to not purchase our products? What is the potential for converting these noncustomers to our products? C. Internal (Organizational) Environment Review of marketing goals, objectives, and performance What are our current marketing goals and objectives? Are our marketing goals and objectives consistent with the mission, goals, and objectives of the firm? Why or why not? Are our marketing goals and objectives consistent with recent changes in the marketing or customer environments? Why or why not? How are our current marketing strategies performing in terms of sales volume, market share, profitability and communication (e.g., awareness and preference) objectives? How does our current performance compare to other firms in the industry? Is the performance of the industry as a whole improving or declining? Why? If our performance is declining, what is the most likely cause? Are our marketing objectives inconsistent with changes in the marketing or customer environments? Is the strategy flawed? Was the strategy poorly implemented? If our performance is improving, what actions can we take to ensure that our performance continues to improve? Is the improvement in performance due to a better than anticipated environment or superior planning and implementation? Review of current and anticipated organizational resources What is the state of our current organizational resources (e.g., financial, capital, human, experience, relationships with key suppliers or customers)? Are these resources likely to change for the better or worse in the near future? If the changes are for the better, how can we utilize these added resources to our advantage in meeting customer needs better than competitors? If the changes are for the worse, what can be done to compensate for these new constraints on our resources? Review of current and anticipated cultural and structural issues What are the positive and negative aspects of the current and anticipated culture of the firm? What issues related to internal politics and power struggles might affect our marketing activities? What is the overall position and importance of the marketing function as seen by other functional areas? Are key executive positions expected to change in the future? How will the overall customer-orientation of the firm (or lack thereof) affect our marketing activities? Does the firm emphasize a long- or short-term planning horizon? How will this emphasis affect our marketing activities? Currently, are there positive or negative issues with respect to motivating our employees, especially those in customer-contact positions (e.g., sales, customer service)? III.
SWOT Analysis A.
Strengths
Strength 1:
How does this strength assist us in meeting customer needs? How does this strength compare to our competitors' strengths? Does this strength make us different from (better than) our competitors in the minds of our customers?
Strength 2:
How does this strength assist us in meeting customer needs? How does this strength compare to our competitors' strengths? Does this strength make us different from (better than) our competitors in the minds of our customers?
Strength 3:
How does this strength assist us in meeting customer needs? How does this strength compare to our competitors' strengths? Does this strength make us different from (better than) our competitors in the minds of our customers?
Strength 4:
How does this strength assist us in meeting customer needs? How does this strength compare to our competitors' strengths? Does this strength make us different from (better than) our competitors in the minds of our customers? B.
Weaknesses
Weakness 1:
How does this weakness hinder us in meeting customer needs? How does this weakness compare to our competitors' weaknesses? Does this weakness make us different from (worse than) our competitors in the minds of our customers?
Weakness 2:
How does this weakness hinder us in meeting customer needs? How does this weakness compare to our competitors' weaknesses? Does this weakness make us different from (worse than) our competitors in the minds of our customers?
Weakness 3:
How does this weakness hinder us in meeting customer needs? How does this weakness compare to our competitors' weaknesses? Does this weakness make us different from (worse than) our competitors in the minds of our customers?
Weakness 4:
How does this weakness hinder us in meeting customer needs? How does this weakness compare to our competitors' weaknesses? Does this weakness make us different from (worse than) our competitors in the minds of our customers? C.
Opportunities
Opportunity 1:
How is this opportunity related to serving the needs of our customers? What actions must we take to capitalize on this opportunity in the short-term and in the long-term?
Opportunity 2:
How is this opportunity related to serving the needs of our customers? What actions must we take to capitalize on this opportunity in the short-term and in the long-term?
Opportunity 3:
How is this opportunity related to serving the needs of our customers? What actions must we take to capitalize on this opportunity in the short-term and in the long-term?
Opportunity 4:
How is this opportunity related to serving the needs of our customers? What actions must we take to capitalize on this opportunity in the short-term and in the long-term? D.
Threats
Threat 1:
How is this threat related to serving the needs of our customers? What actions must we take to prevent this threat from limiting our capabilities in the short-term and in the long-term?
Threat 2:
How is this threat related to serving the needs of our customers? What actions must we take to prevent this threat from limiting our capabilities in the short-term and in the long-term?
Threat 3:
How is this threat related to serving the needs of our customers? What actions must we take to prevent this threat from limiting our capabilities in the short-term and in the long-term?
Threat 4:
How is this threat related to serving the needs of our customers? What actions must we take to prevent this threat from limiting our capabilities in the short-term and in the long-term? E.
The SWOT Matrix
Strengths:
Opportunities:
Weaknesses:
Threats:
F.
Matching, Converting, Minimizing, and Avoiding Strategies
How can we match our strengths to our opportunities to create capabilities in serving the needs of our customers? How can we convert our weaknesses into strengths? How can we convert our threats into opportunities? How can we minimize or avoid those weaknesses and threats that cannot be successfully converted? Do we possess any major liabilities (unconverted weaknesses that match unconverted threats) or limitations (unconverted weaknesses or threats that match opportunities)? Are these liabilities and limitations obvious to our customers? Are there ways that these liabilities and limitations can be minimized or avoided? IV.
Marketing Goals and Objectives A.
Marketing Goal A:
Objective A1:
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
Objective A2:
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
Objective A3:
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
B.
Marketing Goal B:
Objective B1:
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
Objective B2:
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
Objective B3:
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
C.
Marketing Goal C:
Objective C1:
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
Objective C2:
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
Objective C3:
V.
Specific and measurable outcome: Time frame: Responsible unit/person: Relationship to SWOT:
Marketing Strategies A.
Target Market(s)
Target market A:
Demographic characteristics: Geographic characteristics: Psychographic characteristics: Basic needs and benefits sought: Purchasing/shopping characteristics: Consumption/disposition characteristics: Justification for selection:
Target market B:
Demographic characteristics: Geographic characteristics: Psychographic characteristics: Basic needs and benefits sought: Purchasing/shopping characteristics: Consumption/disposition characteristics: Justification for selection: B.
Marketing Mix
Marketing mix A (to meet the needs of target market A)
Product
Pricing
Distribution
Description of major features and benefits: Differentiation relative to competing products: Elements of customer service strategy: Brand name and packaging: Relationship to delivering value: Complementary products:
Description of per unit costs: Pricing objectives: Discount/markdown policy: Relationship to delivering value:
Promotion
General distribution strategy: Intermediaries and channels to be used: Relationship to delivering value and convenience:
Summary of overall promotion strategy: Basis for product/company positioning: Advertising/publicity objectives and budget: Elements of the advertising/publicity campaign: Personal selling objectives and budget: Elements of the personal selling effort: Sales promotion objectives and budget: Elements of trade sales promotion (push): Elements of consumer sales promotion (pull):
Marketing mix B (to meet the needs of target market B)
Product
Pricing
Distribution
Promotion
Description of major features and benefits: Differentiation relative to competing products: Elements of customer service strategy: Brand name and packaging: Relationship to delivering value: Complementary products:
Description of per unit costs: Pricing objectives: Discount/markdown policy: Relationship to delivering value:
General distribution strategy: Intermediaries and channels to be used: Relationship to delivering value and convenience:
Summary of overall promotion strategy: Basis for product/company positioning: Advertising/publicity objectives and budget: Elements of the advertising/publicity campaign: Personal selling objectives and budget: Elements of the personal selling effort: Sales promotion objectives and budget: Elements of trade sales promotion (push): Elements of consumer sales promotion (pull):
C.
Key Consumer and Competitor Reactions
What are the likely consumer and competitor reactions to marketing mix A? B? .... How does marketing mix A give us a competitive advantage in serving the needs of target market A? Is this competitive advantage sustainable? Why or why not? How does marketing mix B give us a competitive advantage in serving the needs of target market B? Is this competitive advantage sustainable? Why or why not? VI.
Marketing Implementation A.
Structural Issues
Description of overall approach to implementation:
Description of internal marketing activities:
Internal products: Internal pricing: Internal distribution: Internal promotion:
What communication avenues are in place to ensure that all employees understand their role in implementing the marketing strategy? Will customer-contact employees and managers be empowered to make decisions? If yes, how will the organization ensure that empowered employees make the right decisions? How can the organization ensure that employees are motivated to implement the required marketing activities? How can the organization ensure that all marketing activities are coordinated with other functional areas within the firm? B.
Activities, Responsibilities, Budgets, and Timetables
Product activities
Activity 1:
Activity 2:
Activity 3:
Activity 4:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Pricing activities
Activity 1:
Activity 2:
Activity 3:
Activity 4:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Distribution activities
Activity 1:
Activity 2:
Activity 3:
Activity 4:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Promotion activities
Activity 1:
Activity 2:
Activity 3:
Activity 4:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
Person responsible: Budget: Other resources needed: Target completion date:
VII.
Person responsible: Budget: Other resources needed: Target completion date:
Evaluation and Control A.
Financial Assessment
Contribution Analysis
a. Total fixed costs: b. Variable costs per unit: c. Per unit selling price: d. Current gross margin target: e. Future gross margin target:
What is the required sales volume in units needed to meet the current gross margin target? (a + d) (c - b) What is the required sales volume in units needed to meet the future gross margin target? (a + e) (c - b)
Response Analysis
a. Estimated product response coefficient: b. Estimated price response coefficient: c. Estimated distribution response coefficient: d. Estimated promotion response coefficient:
Combined response impact (a x b x c x d):
Systematic Planning Model
a. Current industry sales (in units): b. Projected sales growth (decline) percentage: c. Projected industry sales (a x b):
d. Projected firm market share if current marketing strategy is continued: e. Modified market share (multiply d by the combined response impact from above): f. Predicted sales in units (c x e): g. Projected sales in dollars (multiply f by the per unit selling price):
h. Projected costs: i. Projected gross margin (g - h):
B.
Marketing Control
What types and levels of formal control mechanisms are in place to ensure the implementation of the marketing plan?
Input control mechanisms
Process control mechanisms
Output control mechanisms (performance standards)
Employee recruitment and selection procedures: Employee training programs: Employee manpower allocations: Financial resources: Capital outlays: Research and development expenditures: Other:
Employee evaluation and compensation systems: Employee authority and empowerment: Internal communication programs: Lines of authority/structure (organizational chart): Management commitment to the marketing plan: Management commitment to employees:
Product performance standards:
Potential corrective actions that can be taken if actual product performance does not match these standards:
Price performance standards:
Potential corrective actions that can be taken if actual pricing performance does not match these standards:
Distribution performance standards:
Potential corrective actions that can be taken if actual distribution performance does not match these standards:
Promotion performance standards:
Potential corrective actions that can be taken if actual promotion performance does not match these standards:
Output control mechanisms (marketing audits)
How will marketing activities be monitored? What are the specific profit- and time-based measures that will be used to monitor marketing activities? Describe the marketing audit to be performed: Who will be responsible for conducting this audit? What types and levels of informal control mechanisms are in place to ensure the implementation of the marketing plan?
Employee self-control
Are employees satisfied with their jobs at a level that is sufficient for implementing the marketing plan? If not, how can employee job satisfaction be increased? Are employees committed to the organization at a level that is sufficient for implementing the marketing plan? If not, how can employee commitment be increased? Are employees committed to the marketing plan at a level that is sufficient for its implementation? If not, how can employee commitment to the plan be increased?
Employee social control
Do employees share the organization's values in a manner that enhances the implementation of the marketing plan? Describe the social and behavioral norms that exist within the organization, and in workgroups, that are either beneficial or detrimental to implementation:
Employee cultural control
Is the organizational culture appropriate for the marketing plan? If not, what type of culture would be more appropriate? Though cultural change is a slow process, what steps can be taken to change our organization's culture to become more conducive to implementing the marketing strategy?