Developing Marketing Plan

Topics: Forecasting, Marketing plan, Regression analysis Pages: 17 (1634 words) Published: February 28, 2015
Developing 
Marketing Plan

PLANNING
• Process to develop a strategy to achieve
desired objectives, to solve problems, and to
facilitate action.
• A systematic process of forecasting the future
business environment and deciding on the
most appropriate goals, objectives and
positions for best exploiting that environment.
• Planning is an activity and a process =
formalised

MARKETING PLANNING
“Marketing Planning is the process of
developing marketing plan incorporating
overall marketing objectives, strategies,
and programs of actions designed to
achieve these objectives.“
“Provides clear and unambiguous statement
[of intent] about the strategies and actions
that will be implemented, by whom, when
and with what [anticipated/required]
outcomes.”

Marketing
Planning Process

Marketing planning process is
a series of stages that are usually
followed in a sequence. .
Marketing planning process
involves both the development of
objectives and specifications for
how to achieve the objectives.

The purpose of marketing
planning is:
“to find a systematic way of
identifying a range of options,
to choose one or more of
them, then to schedule and
cost out what has to be done
to achieve the objectives.”

Marketing planning is
therefore about: thinking
about the future and
organising the members /
stakeholders of the business
so that everyone works
towards a common goal.

A Good Marketing
Plan
• A Marketing Plan should:
– Set goals and provide direction for future
marketing efforts.
– Set clear, realistic, and measurable targets.
– Include deadlines for meeting those
targets.
– Provide a budget for all marketing
activities.
– Specify accountability and measures for all
activities.

Marketing
Planning
Process

1)Mission

2) Corporate
Objectives

3) Marketing
Audit

4) SWOT
Analysis

5) Marketing
Assumptions

6) Marketing
Objectives and
Strategies

7) Forecast the
Expected Results

8) Create
Alternative Plan

9) Marketing
Budget

10)
Implementation
and Evaluation

Marketin
g Sales
Forecasti
ng

Forecasting
• Predict the next number in the pattern:
a) 3.7, 3.7, 3.7, 3.7, 3.7,

?

b) 2.5, 4.5, 6.5, 8.5, 10.5, ?
c) 5.0, 7.5, 6.0, 4.5, 7.0, 9.5, 8.0, 6.5, ?

Forecasting
• Predict the next number in the pattern:
a) 3.7, 3.7, 3.7, 3.7, 3.7,

3.7

b) 2.5, 4.5, 6.5, 8.5, 10.5,

12.5

c) 5.0, 7.5, 6.0, 4.5, 7.0, 9.5, 8.0, 6.5,

9.0

FORECASTING
Forecasting is the process of making
predictions about the future. It is not, in
itself, the same as planning. Furthermore,
some things which are forecast can even
be prevented. But if forecasting is not the
same thing as planning, then it is an
inevitable part of it, for all plans will be
based on some form of forecast.

SALES FORECASTING
• Sales Forecasting is the art of anticipating what buyers are likely to do under a given set of conditions. This suggests
that the buyers should be surveyed. Surveys are especially
valuable if the buyers have clearly formulated intensions,
will carry them out, and will describe them to interviewers. • Sales forecasting is estimating what a company's future
sales are likely to be based on sales records as well as 
market research. The information used in them must be
well organized and may include information on the
competition and statistics that affect the businesses'
customer base. Companies try to forecast sales in hopes of
identifying paterns so that revenue and cash flow can be
maximized.

What is Forecasting?
 Process of predicting a future
event based on historical data
 Educated Guessing
 Underlying basis of
all business decisions





Production
Inventory
Personnel
Facilities

Importance of
Forecasting

Departments throughout the organization depend on
forecasts to formulate and execute their plans.
Finance needs forecasts to project cash flows and capital...
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