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Market Audit Plan

In: Business and Management

Submitted By jv940
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All In One Marketing Audit & Plan [Date]
Created by Simply Digital Marketing Last reviewed [Date]

All In One Marketing Audit And Plan

1. CONTENTS 1. 2. 3. Contents .......................................................................................................................................... 2 Glossary ........................................................................................................................................... 4 Executive Summary ......................................................................................................................... 5 3.1. 3.2. 3.3. 4. Key Findings ............................................................................................................................ 5 Key Recommendations ........................................................................................................... 5 Summary ................................................................................................................................. 5

Marketing Audit .............................................................................................................................. 6 4.1. 4.2. 4.3. 4.4. 4.4.1. 4.4.2. 4.4.3. 4.5. 4.5.1. 4.5.2. 4.5.3. 4.5.4. Introduction ............................................................................................................................ 6 Assumptions ............................................................................................................................ 6 Internal Environmental Analysis ............................................................................................. 6 External Environmental Analysis............................................................................................. 7 Markets Defined ................................................................................................................. 7 Industry Analysis- Adapted from Porters 5 forces .............................................................. 7 Main Competitor Profile ..................................................................................................... 8 Customer Analysis- The DMU ................................................................................................. 8 Potential Market Size .......................................................................................................... 8 Market Trends ..................................................................................................................... 8 Marketing Mix ..................................................................................................................... 9 Summary and Rationale .................................................................................................... 10

5.

Marketing Plan .............................................................................................................................. 11 5.1. 5.1.1. 5.1.2. 5.1.3. 5.1.4. 5.1.5. Situation ................................................................................................................................ 11 SWOT Analysis................................................................................................................... 11 Company ........................................................................................................................... 11 Competitors ...................................................................................................................... 11 Environment...................................................................................................................... 11 Assumptions ...................................................................................................................... 11

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All In One Marketing Audit And Plan

5.2. 5.3. 5.3.1. 5.3.2. 5.3.3. 5.4. 5.4.1. 5.4.2. 5.4.3. 5.4.4. 5.5. 5.5.1. 5.5.2. 5.6. 5.6.1. 5.6.2. 6. 7.

Objectives.............................................................................................................................. 12 Strategy ................................................................................................................................. 13 Segmentation .................................................................................................................... 13 Targeting ........................................................................................................................... 15 Positioning......................................................................................................................... 15 Tactics ................................................................................................................................... 16 Communication Tools To Be Used .................................................................................... 16 Details of Contact Startegy ............................................................................................... 16 Resource Requirments & Budget ...................................................................................... 16 Proposed Pricing Model .................................................................................................... 17 Actions .................................................................................................................................. 18 Responsibilities ................................................................................................................. 18 Activity Schedule ............................................................................................................... 19 Control .................................................................................................................................. 21 Forcast Model ................................................................................................................... 21 Tracking and Evaluation .................................................................................................... 21

Appendix ....................................................................................................................................... 22 Bibliography .................................................................................................................................. 22

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All In One Marketing Audit And Plan

2. GLOSSARY Define any ambiguous terms used in the audit or plan here.

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All In One Marketing Audit And Plan

3. EXECUTIVE SUMMARY 3.1. KEY FINDINGS What are your key findings from the audit? 3.2. KEY RECOMMENDATIONS What are your key recommendations in the plan? 3.3. SUMMARY Write a suitable summary of your audit and plan.

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All In One Marketing Audit And Plan

4. MARKETING AUDIT 4.1. INTRODUCTION Set the scene of the audit. 4.2. ASSUMPTIONS List any assumptions. 4.3. INTERNAL ENVIRONMENTAL ANALYSIS This section is to evaluate the current internal situation. The below is set out to evaluate each department involved in developing a new product, but more detail can go in here. Ability to find and research new products and markets (Research and development team-R&D) Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Ability to develop and test new products (Construction team) Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Ability to sell new products (Marketing and Sales) Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Ability to implement new products (IT and Delivery team) Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Ability to support new products (Training and Support) Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

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All In One Marketing Audit And Plan

4.4. EXTERNAL ENVIRONMENTAL ANALYSIS 4.4.1. MARKETS DEFINED Define your markets here and what their needs are. This will help you understand how you can fulfill them. Market Need

4.4.2. INDUSTRY ANALYSIS- ADAPTED FROM PORTERS 5 FORCES Evaluate the current industry situation. Who has the power? What are the threats? Suppliers Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Buyers Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Potential Entrants Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Substitutes Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Competitive rivalry Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

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4.4.3. MAIN COMPETITOR PROFILE Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. 4.5. CUSTOMER ANALYSIS- THE DMU Analyse the current situation with your customers e.g. the decision making unit (DMU). High level sales process- Decision touch points Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Decision Making Unit (DMU) - Who are they? The following audiences will be part of some, or all of the decision making process and can be broken down into two types: Decision makers and influencers: Decision Makers Influencers

Segmented by audience This table helps us to understand what each audience’s role, motives and values are. Segment DMU role Motive Value Directors Initiator/Decider Growth Saving money Senior Managers Buyer Visibility Increasing efficiency Co-coordinators Influencer/Gatekeeper Following brief Increasing ability Users User Visibility
Reliability

Segmented by business A table of business sectors etc can go here. 4.5.1. POTENTIAL MARKET SIZ E What is the potential size of your market(s)? 4.5.2. MARKET TRENDS Each new business meeting is analysed for reasons won or reasons lost. These are the findings: Reasons for win Reasons for loss

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All In One Marketing Audit And Plan

4.5.1. ECONOMIC FACTORS Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. 4.5.2. SOCIAL FACTORS Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. 4.5.3. TECHNOLOGY ADVANCES Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. 4.5.3. MARKETING MIX What is the current situation with the marketing mix? Product Example of BSG matrix:

Price Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

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All In One Marketing Audit And Plan

Place Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Promotion Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. People Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Physical Evidence Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Process Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. 4.5.4. SUMMARY AND RATIONALE Write a summary of your audit here and what will get carried over into the plan.

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All In One Marketing Audit And Plan

5. MARKETING PLAN This plan will follow the SOSTAC framework, developed by PR Smith (1990). 5.1. SITUATION 5.1.1. SWOT ANALYSIS Strengths Weaknesses

Opportunities

Threats

5.1.2. COMPANY What’s the current situation with your company? 5.1.3. COMPETITORS What’s the current situation with your competitors? 5.1.4. ENVIRONMENT What’s the current situation with your environment? 5.1.5. ASSUMPTIONS What assumptions have you made?

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5.2. OBJECTIVES Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Company 1. 2. 3. 4. SMART objective SMART objective SMART objective SMART objective

Marketing Objective 1. SMART objective 1. SMART objective 1. SMART objective 1. SMART objective 1. SMART objective 1. SMART objective 1. SMART objective 1. SMART objective

Overall Product Place Price Promotion People Physical Evidence Processes

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5.3. STRATEGY 5.3.1. SEGMENTATION Example high level segmentation below: No of Employers 168,269 32,769 74,133 139,421 8,939 13,133 31,662 150,063 1,214 15,695 1,215 11,512 171,905 2,685 8,896 1,462 28,024 43,448 19,746 4,930 921,121 Our experience
(Current number on our books)

Sector Engineering/Manufacturing Financial Services Services Professional Construction Communications Legal Computing/IT/Technical Retail Pharmaceutical Publishing/Printing Utilities Transport/Distribution Travel/Leisure Stones/Mineral/Ores Education Charities Education NHS Health care Social Services Gov agencies Totals

Type B2B Mix B2B B2B B2B Mix B2B B2C B2B Mix Mix Mix Mix B2B B2C B2C B2C B2C B2C Mix

Direct Sell? Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Tender Tender Tender Tender

Value sought/how they think Process Efficiency Financial ROI After care and services Process Efficiency Communication/Transparency Compliancy Latest Tech Process Efficiency Compliancy/Protocol Process Efficiency Financial ROI Process Efficiency Universal system Process Efficiency Universal system Reduced costs Universal system Universal system Universal system Universal system

Private

Not for profit Public

33 40 31 18 10 12 19 12 8 0 2 16 20 5 0 21 23 9 0 23

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All In One Marketing Audit And Plan

Example lower level segmentation below: No of employees =51 =101 =251 =501 =1001 =5001 10001 55 7 6 68 TOTAL 74,133 8,939 31,662 114,734

Services Professional Communications Computing/IT/Technical Totals

The number of employers and employers is sourced from Dunn and Bradstreet.

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5.3.2. TARGETING Who are you targeting? 5.3.3. POSITIONING How will you position your brand, products and services? Could use Porters generic strategies matrix for how your products and services fit into the market:

RELETIVE COSTS HIGH Niche Outstanding LOW

DIFFERENTIATION

HIGH
Disaster

Low cost

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LOW

All In One Marketing Audit And Plan

5.4. TACTICS 5.4.1. COMMUNICATION TOOLS TO BE USED Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Tool LinkedIn Twitter Use Target Message

5.4.2. DETAILS OF CONTACT STARTEGY More details on how these tools will be used e.g. some high level campaign details 5.4.3. RESOURCE REQUIRMENTS & BUDGET What resources and budgets do you need to deliver this plan? Resources (CIP) Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Job Title Resources (Marketing) Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Job Title High level Responsibilities High level Responsibilities

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Budget (CIP) Item Use Cost

Total Budget (Marketing) Item Use Annum Quarter Month

Total 5.4.4. PROPOSED PRICING MODEL How will you price your products and services? What pricing strategies will you use?

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5.5. ACTIONS 5.5.1. RESPONSIBILITIES Research and Development Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Construction Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Marketing Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. External Marketing Agency Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Business Partners Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Sales Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Service Delivery Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Training and Support Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.

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5.5.2. ACTIVITY SCHEDULE New Product Development Schedule (NPD) Example schedule:

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All In One Marketing Audit And Plan

Product Awareness and Release Schedule Example schedule:

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5.6. CONTROL 5.6.1. FORCAST MODEL What are your predictions for this plan? Year Leaving Turnover Annuity Revenue Clients

5.6.2. TRACKING AND EVALUATION Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Evaluate Organisation’s Performance 1. Objective 1 Marketing’s Performance 1. Objective 1 Sales Performance 1. Objective 1

Measure

Tools

Frequency

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6. APPENDIX Any supporting information goes here.

7. BIBLIOGRAPHY Any sources which require referencing goes here.

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