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Developing a marketing plan

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Developing a marketing plan

  • By
  • September 7, 2014
  • 526 Words
  • 12 Views
  • Course: MArketing
  • Professor: David Price
  • School: George Mason University, VA
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Developing a Marketing Plan

BUSS154 ONL – Spring 2013
Week 1

Developing a Marketing Plan
Learning Objectives:





Writing a marketing strategy
Researching foreign markets
Researching the market

Developing a Marketing Plan
Market Research Determines:






Countries currently buying similar products
and size of market
Competitors
Market standards
Product modifications such as labeling or
packaging

Developing a Marketing Plan
Market Research Determines (con’t):





Pricing strategies
Optimal distribution channels
Duties, taxes and other costs or restrictions
Additional required testing and certifications

Developing a Marketing Plan
Research Results Will:






Identify the largest markets for your product
and fastest-growing markets
Market trends and outlooks
Market conditions and practices
Competing firms and products

Developing a Marketing Plan
Market Research




Primary Research: interviews, surveys,
direct contact with representatives and
potential buyers
Secondary Research: trade statistics for a
country or product

Developing a Marketing Plan
Method of Market Research:





Be aware of world events
Analyze trade and economic statistics
Get expert advise: U.S. Dept of Commerce
and other government agencies; attend
seminars, workshops, trade shows; hire
expert consultants; other exporters; trade and
industry associations

Developing a Marketing Plan
Elements of Market Research
I. Screen Potential Markets
Step 1: Obtain export statistics
Step 2: Identify potential markets
Step 3: Target most promising markets

Developing a Marketing Plan
Elements of Market Research
II. Assess the Targeted Markets
Step I: Examine product trends
Step 2: Research the competition
Step 3: Analyze marketing factors
Step 4: Identify barriers
Step 5: Identify any incentives

Developing a Marketing Plan
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Developing a Marketing Plan
BUSS154 ONL Spring 2013
Week 1