Marketing Plan - Understanding According to Experts, Characteristics, Objectives, Scope, Benefits, Problems, Steps & Examples - For the discussion this time we will review the Marketing Plan which in this case includes understanding according to experts, characteristics, objectives, scope , benefits, problems, steps and examples, now to better understand and understand see the full review below.
Understanding Marketing Plan
A marketing plan is a planned application of marketing resources to achieve marketing objectives. Thus marketing planning is a systematic process in designing and coordinating marketing decisions.
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Here are some definitions of marketing plan according to experts, consisting of:
According to Mc Donald
A marketing plan is a management process that leads to marketing planning. This planning is a logical sequence and series of activities towards setting marketing goals and formulating a plan to achieve its objectives.
Adzaniah Dinda: 2013
A marketing plan is a strategy for achieving the company's mission or goals. While marketing is a system of business activities designed to plan, set prices, promote and distribute goods and services for the benefit of the market, both the household consumer market and / or industrial market.
A marketing plan is a strategy for achieving the company's mission or goals.
Marketing Plan Scope
Marketing planning is the planned application of marketing resources to achieve marketing objectives. Thus marketing planning is a systematic process in designing and coordinating marketing decisions. This marketing plan provides a focus for information gathering, a format for information dissemination, and a structure for developing and coordinating the company's strategic and tactic responses.
Planning must be prepared as explained by Bygrave, namely analysis of the company's situation and environment analysis, analysis and assessment of opportunities, strengths, weaknesses, and obstacles faced by the market.
Before compiling the Marketing Plan, the entrepreneur must know the ins and outs of marketing concepts and information has been collected, then a new entrepreneur writes his Marketing Plan.
To compile a marketing plan, you need to answer the following three questions:
- Where have we been?
- Where do we want to go?
- How do we get there? (Hisrich-Peters 1905: 139)
The question above needs to be identified and answered where do we go from? For that reason, the background of the company, the strengths and weaknesses of the company, and the constraints faced need to be considered.
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Then where is the destination? Here, marketing objectives need to be set for the future.
Then how to achieve that goal? This is where marketing strategies need to be determined. Maybe marketing research is also needed. The budget needs to be prepared for the implementation of this plan.
What is a marketing plan? The marketing plan includes a situation analysis that in a large part comprises a market opportunity analysis and an assessment of the existing or potential businesses' strengths, weaknesses, threats, and opportunities in the marketplace. (Bygrave, 1994: 73)
This Marketing Plan is a part of the Business Plan. Planning that must be prepared as explained by Bygrave is an analysis of the company's situation and its environment analysis and assessment of opportunities, strengths, weaknesses, constraints, faced in the market. It should also describe the target consumers and the marketing strategies used. So the core of this Marketing Plan activity is: (BuchariAlma: 2007)
- Analysis of the environmental situation and market opportunities
- Develop marketing goals
- Implement a marketing strategy
- Creating tactics or implementing actions
As it is known that marketing is a very important activity in business operations. It doesn't matter whether your business is engaged in the sector of small industries, medium level especially large industries. service sales, transportation, lodging, travel agents, recreation activities and so on, marketing occupies the main position.
Look at how the development of the marketing department's position in a company from standing up to becoming large. (See picture of changing views on marketing).
At the stage of the new company the positions of the production, financial, personnel, and marketing departments are roughly the same importance. However, once the company advances, a greater portion of attention is given to the marketing department, and more specifically the focus is on "subscriptions". This does not mean that other parts of the company are not important, all parts are important, but the main concern is the marketing department that will deal directly with the public, which is crucial for the success / failure of a business.
Characteristics of a Marketing Plan
The characteristics of a good marketing plan must meet several criteria (Buchari Alma: 2007), namely:
- It must be based on facts and correct assumptions about who the target market is, where they are located, how likely they are.
- How effective promotion techniques
- How do prices change in the market
- How is the distribution channel
- How is the rival situation
- How about SWOT from the company
- Prepare the necessary resources such as human resources, finance, care facilities and so on
The Purpose of a Marketing Plan
It is the identification and creation of competitive advantage. This marketing plan is a tangible form of the company to provide strategic responses to changing global competition patterns consisting of:
- Business size adjustment.
- Changes in product and / or market scope.
- Or the creation of new network relationships with other organizations.
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Problems That Arise Due To Lack Of Marketing Plans
The problems that arise due to lack of marketing planning include:
- Lost opportunities for profit.
- Insignificant numbers in long-term plans.
- Unrealistic goals.
- Lack of market information that can be done.
- Interfunctional disputes.
- Frustration of management.
- Product and market breeding.
- Vain promotional expenses.
- Pricing is too confusing.
- Weakening towards business development.
- Eliminate control of the business minimum marketing plan containing the following elements:
1. Marketing objectives and marketing strategies.
2. Marketing mix strategy.
3. Description of the product.
4. Pricing strategy.
5. Promotion plan.
6. Determination of "sales and distribution" products.
Marketing Plan Steps
The main steps in the marketing plan include:
- Conducting an analysis of the situation the analysis carried out in this stage is the SWOT analysis "Streghts, weaknesses, opportunities and threats". This analysis includes opportunities and problems posed by trends in the situation of buyers, competitors, costs and regulations. In addition, including the strengths and weaknesses of the company.
- Establish specific goals / objectives formulated and identify the level of performance expected to be achieved by the organization at a certain time in the future, taking into account the reality of environmental problems and opportunities as well as the strengths and weaknesses of the company.
- Developing strategies and programs based on the goals set, the decision maker then designs a strategy of "long-term action to achieve the goal" and a program of "specific short-term actions to implement the strategy".
The results of a consumer-focused marketing plan can produce a competitive advantage through:
- Lower prices compared to competitors for the same benefits uniqueness of benefits that can cover high prices.
- Analysis of competitive advantage shows the differences and uniqueness among competitors. For companies that want to enjoy competitive advantage in the market, their products and competitors' products must be felt in the market. Competitive advantage is obtained by looking for aspects of differentiation that will be superior in value by target consumers and that are not easily duplicated by competitors.
Benefits of Recana Marketing
The marketing plans include:
- Achieve better coordination of activities.
- Identify expected developments.
- Increase organizational readiness to change.
- Minimizing irrational responses to unexpected responses.
- Reducing conflict about where organizations should move.
- Improve communication.
- Urge management to think ahead systematically.
- Expand customization of available resources to get opportunity choices.
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Example of a Marketing Plan
Pegasus Sport International
Pegasus Sports International is a manufacturer of accessories inline skating purnapasar ( aftermarket ) which is newly established and is developing Skatetours services that bring customers to travel. Working closely with local skate shops , Pegasus Sports creates enormous opportunities. Skating is a sport that is very loved today. Pegasus Sports will start by selling products through the Web. This "Dell" consumer approach allows Pegasus Sports to achieve higher margins and maintain close customer relationships.
Pegasus is entering its first year of operation. Its products are well received and marketing is the key to brand development and product awareness and growing customer base. Pegasus has good information about the market, this information will be upgraded to better understand who is served, what their special needs are and how to communicate well.
Pegasus target market:
Pegasus customer profiles generally consist of:
Pegasus did not specify a geographical target area but the total targeted population was 31 million users.
There is an almost equal ratio between male and female users. Ages 13-46, with 48% of the group aged around 23-24 years.
Users enjoy fitness activities as activities that can be enjoyed intrinsically by themselves.
Pegasus provides a skating community with a wide range of accessories for all skating variations. There are 3 things that are prioritized by Pegasus, namely the quality of workmanship, the best design and customer service.
Pegasus will differentiate itself by marketing products that were not previously available to skaters. The number of skaters is not limited to people somewhere, or age groups, so there is a world market. The fastest growing segment for this sport is the fitness segment so Pegasus will seek marketing to this group.
Another trend is group skating. Market trends show continued growth in all directions of skating. Market growth tends to be stable throughout the world due to the number of skate companies , and skate prices are down.
The following SWOT analysis illustrates the main strengths and weaknesses that exist within the company and also illustrates the threats and opportunities that exist.
Excellent and expert industry experience and views, creative product design is also practical, and efficient and effective use of business capital.
Dependence on external capital, lack of sales promotion, and difficulty developing brand awareness
Participation in a growing industry, reduced product costs and the ability to boost businesses.
Competition from other more established companies, economic downturn, and the launch of study results that question product safety.
Pegasus Sports forms its own market. although there are companies that make screens and foils that some skaters use, Pegasus Sports is the only brand specifically designed for skaters . So other companies that make foil or laya have not been counted as rivals for Pegasus Sports.
For now Pegasus Sport offers several products. The first product developed was Blade Boots, wheel covers and inline skate frames , which allowed skaters to reach more skating areas . The second product is the SkateSails screen specifically designed for skating. The third product of SkateAid will be produced at the end of the year.
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The key to success held by Pegasus is designing and producing products in accordance with customer desires and customer satisfaction is the most important. As a newly established business, there are several important issues for Pegasus, namely to establish itself as a leading skateboard company , pursuing controlled growth that regulates that the salary burden will never exceed the revenue base and always always observe customer satisfaction.
The key to a marketing strategy is to focus on skaters , speed, health, leisure and recreation. Pegasus and covers around 80% of the entire market because Pegasus makes products for various segments. Pegasus is able to serve almost all segments.
Mass Pegasus Sports International can provide the best skating accessories for customers. Pegasus's marketing goals are to maintain positive and strong growth every quarter, achieve a steady increase in market penetration, and reduce customer acquisition costs by 1.5% per quarter. Pegasus' financial goal is to increase profit margins by 1% per quarter through efficiency and economies of scale, maintain a significant research and development budget, and achieve double-digit growth rates for the first three years.
The target market for Pegasus products is the fitness and recreation group because the two groups are the fastest growing group. Pegasus will position itself as a leading skating accessories company . Pegasus is a company from customer to customer. Pegasus' sole aim is to position itself as a leading skate company serving the domestic and international markets.
The marketing strategy will first create customer awareness regarding the products and services offered and then be developed with the customer. The second marketing method is advertisements placed in various industry magazines.
Pegasus's marketing mix includes pricing based on retail prices per product, direct distribution to customers after that will use retailers, advertising and promotions using different methods, and customer service that will be achieved on target.
Pegasus has a good advantage because it is located in the center of the skating world , Venice, California. Pegasus will be able to elevate profitable locations through collaboration with many skaters who live in the region.
The finance section will offer a financial review of Pegasus related to marketing activities. Pegasus felt that sales forecast numbers were conservative. Continue to increase sales if the advertising budget allows. Expense forecasting will be used as a tool to maintain departmental targets and provide indicators when needed.