MKTG 2030 Lecture Notes - Lecture 4: Simon Sinek, Marketing Plan, Lead Time
Document Summary
Chapter 4 developing a strong market plan. The need for a marketing plan: goods and services are becoming increasingly commoditized as firms introduce similar new products every year. The steps in developing a strong market plan. Section 2: table of contents: allows the reader to easily navigate through the marketing plan. Section 3: market analysis: shows how attractive the market is and macroenvironmental trends - trends facing the business externally. Common trends examined are demographics, socio-cultural, economic, technological, political and regulatory. Section 5: customer analysis: understanding customer needs, creating customer needs. Identify key issues that the marketing plan will attempt to address: first --> identify opportunities and threats that the business faces, second --> identify strengths and weaknesses, swot analysis --> otsw analysis. Section 7: objectives to be achieved: list out the objectives that we need to achieve. Section 8: marketing strategies: need to develop the marketing strategies using the marketing mix elements of product, price, channel and marketing communications.
