Premium Essay

Marketing Plan 2

In: Business and Management

Submitted By resalynn
Words 2183
Pages 9
Marketing Plan Teresa Bowie
University of Phoenix
Marketing
MKT/421
Tracy Coomes October 2, 2012

Marketing Plan: Phase II

Introduction Subway is a growing business with the strength of motivating the world to healthy eating. So how do we identify the segmentation criteria that will affect their target market selection? To understand the effect on the segmentation criteria the key is to identify the target market of the business. In order for the market to achieve their goals, they must follow the step of researching the target market. Describe the organizational buyers and consumers of the new services “the reward system” and the factors that influence their purchasing decisions. Factor will discuss how their involvement will affect the marketing strategy along with analyzing current competitors and define the competitive landscape for the service of the “reward system”. The segmentation criteria

Market segmentation is common marketing processes that entail separating a large audience into distinctive segments with consumers who have similar needs or wants. This process identifies targeted marketing segments, so companies can use discretely the marketing mix approach for the most profitable markets. These processes build marketing investments and allow the investments to be more efficient. Detailed criterion is helpful in targeting the finest market segments. According to Reid and Bojanic “there are three segmentation strategies: mass market strategy, differentiated strategy, and concentrated strategy” (2009, p. 143-144). The subway restaurant is following a differentiated strategy, this strategy is targeting more than on market segment. According to a case study, adults between the age18-49 are identified by Subway...

Similar Documents

Premium Essay

Marketing Ppt

...BMA351 MARKETING MANAGEMENT STUDY GUIDE – WEEK 2 STRATEGIC MARKETING PLANNING INTRODUCTION This week you will be introduced to the concepts of strategic planning and the strategic planning process. Important in this discussion is an understanding of the hierarchies that exist within firms and within the planning process. Last week’s consideration of the differences between strategic and tactical is useful too. You will also be introduced to idea of marketing control, which is an important element you will need to address in Assessment Item 2 – Strategies & Implementation. Resources Lecture slides (download or view PowerPoint file) Recorded MyMedia lecture – Week 2 Prescribed text: Chapter 2 MyLO: Readings/Strategic marketing planning Acknowledgement: Sections adapted from Ferrell, OC & Hartline, MD 2010, Marketing strategy, 5th edn. Cengage Learning, Mason, OH. © 2010 Cengage 1 LECTURE OUTLINE Strategic Planning and the Strategic Planning Process The majority of organisations operate according to a formal plan. Formal planning can yield many benefits for all types of firms. It encourages senior management to think ahead systematically and refine its objectives and policies. Sound planning helps the company to anticipate and respond quickly to environmental changes, and prepare for sudden developments more effectively. Whether at the corporate, business unit, or functional level, the planning process begins with an indepth analysis of the......

Words: 934 - Pages: 4

Premium Essay

Why Your Healthcare Practice Needs a Marketing Plan

...Why Your Healthcare Practice Needs a Marketing Plan  Evangeline E. Towry MHA626: Strategic Planning & Marketing in Health Care Dr. Monica Scales December 2, 2013 Why Your Healthcare Practice Needs a Marketing Plan  Marketing is healthcare, like any business, is essential to the livelihood of the overall business. Healthcare marketing is all about building relationships within the community, building trust, displaying expertise and, eventually, gaining new patients. In healthcare marketing, you need to identify the needs of your patients as well as the needs of the surrounding community. This will allow you to formulate strategies to help your healthcare organization fulfill its vision and goals. Reasons for a Marketing Strategy The main focus of a marketing plan is for the overall success of your healthcare organization. “If you plan nothing, nothing will be accomplished” (kmccoypbo, 2009). Your marketing plan is a set of guidelines to help you achieve the organization’s vision and goals. According to Catalyst Marketers (2013), a Strategic Marketing Plan provides business owners with: 1. A map for achieving yearly goals. 2. The ability to track success through individual tactic performance measures – Performance measures should be setup for every Marketing Tactic. 3. An understanding of the time, and budget needed to execute on the Strategic Marketing Plan. Three Necessary Considerations The three necessary considerations to taken into...

Words: 768 - Pages: 4

Premium Essay

Marketing Notes

...DEVELOPING OF MARKETING STRATEGIES AND PLANS C H A P T E R 2 ___________________________________________________________________________ INTRODUCTION How do companies compete in a global marketplace? One part of the answer is a commitment to creating and retaining satisfied customers. We can now add a second part: Successful companies know how to adapt to a continuously changing marketplace through strategic planning and careful management of the marketing process. In most large companies, corporate headquarters is responsible for designing a corporate strategic plan to guide the whole enterprise and deciding about resource allocations as well as starting and eliminating particular businesses. Guided by the corporate strategic plan, each division establishes a division plan for each business unit within the division; in turn, each business unit develops a business unit strategic plan. Finally, the managers of each product line and brand within a business unit develop a marketing plan for achieving their objectives. However, the development of a marketing plan is not the end of the marketing process. High-performance firms must hone their expertise in organizing, implementing, and controlling marketing activities as they follow marketing results closely, diagnose problems, and take corrective action when necessary. In today’s fast-paced business world, the ability to effectively manage the marketing process—beginning to end—has become an......

Words: 982 - Pages: 4

Premium Essay

New Products Chapter 1

...MARKETING PLANNING – CHAPTER 2 Developing a marketing plan is a key responsibility. The marketing plan can be divided into two general parts: the situation analysis, which analyzes the background of the market for the product, and the objectives, strategy and programs based on the background analysis that direct the product manager’s actions. MARKETING PLAN A marketing plan is a written document containing the guidelines for the business center’s marketing programs and allocations over the planning period. Give life to a marketing plan = business plan (CEO) Marketing plan= Chief Marketing Officer. One-year time framework (mostly). Short states and implements. At the end, check and asses. Kotler (NOT MORE than 15 pages). Straight to the topic, NOT wide. What you need and how to get there. * Written document: not something stored in a product manager’s head. It provides a vehicle for communications between functional areas of the firm. It pinpoints responsibility for achieving results by a specified date. * Business center level: the precise level at which plans are written varies from organization to organization. For example, in a company using a band management organizational structure, a marketing plan is written for each brand that is a profit center. Alternatively, some companies write plans for groups of brands or products, particularly when fixed costs are difficult to allocate by individual product. While marketing planning is common, it occurs at......

Words: 2172 - Pages: 9

Premium Essay

International Marketing

...PART SIX Country Notebook THE COUNTRY NOTEBOOKA GUIDE FOR DEVELOPING A MARKETING PLAN TH E CO UN TRY N O TEB O O K O U T LI N E Cultural Analysis Economic Analysis Market Audit and Competitive Market Analysis Preliminary Marketing Plan cat2994X_cn_579-588.indd 579 8/3/10 2:44 PM CONFIRMING PAGES 580 Part 6 Supplementary Material The first stage in the planning process is a preliminary country analysis. The marketer needs basic information to evaluate a country market’s potential, identify problems that would eliminate a country from further consideration, identify aspects of the country’s environment that need further study, evaluate the components of the marketing mix for possible adaptation, and develop a strategic marketing plan. One further use of the information collected in the preliminary analysis is as a basis for a country notebook. Many companies, large and small, have a country notebook for each country in which they do business. The country notebook contains information a marketer should be aware of when making decisions involving a specific country market. As new information is collected, the country notebook is continually updated by the country or product manager. Whenever a marketing decision is made involving a country, the country notebook is the first database consulted. New-product introductions, changes in advertising programs, and other marketing program decisions begin with the country notebook. It also serves......

Words: 2957 - Pages: 12

Premium Essay

Global Expansion

...Intercontinental University Good and Bad Marketing Plans MKTG305-1203A-01 Marketing Management June 8, 2012 Abstract This paper will provide the definition of a marketing plan, and discuss the difference between a strategic and tactical marketing plan. The temporary store will be discussed as a successful marketing plan, along with the failure in marketing of Burger King. The marketing plans will then be analyzed to show why one plan was a success while the other was a failure. The movie John Carter was also discussed as to why it was a flop at the box office. Good and Bad Marketing Plans Introduction The definition and types of marketing plans will be discussed in this paper. It will also provide an example of a successful marketing plan in the temporary store set-up and the failure of the Burger King marketing plan. We will then analyze the differences in these two plans and discuss why one was successful while the other plan was not. Finally we will explore the movie John Carter and talk about why the movie was not a box office hit. Marketing Plan A marketing plan is the efforts a company goes through in order to make a new product a success. There are two levels in a marketing plan, they are strategic and tactical (Kotler & Keller, 2012). The strategic marketing plan lays out the guidelines on the target customers based on the best market opportunities (Kotler & Keller, 2012). The tactical marketing plan includes the planning phase,......

Words: 1120 - Pages: 5

Premium Essay

Special K

...Writing a Marketing Plan Have a plan. Follow the plan, and you’ll be surprised how successful you can be. Most people don’t have a plan. That’s why it’s easy to beat most folks. —Paul “Bear” Bryant, football coach, University of Alabama 2A for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (and other financial) statements—enables marketing personnel and the firm as a whole to understand their own actions, the market in which they operate, their future direction, and the means to obtain support for new initiatives.2 Because these elements—internal activities, external environments, goals, and forms of support—differ for every firm, the marketing plan is different for each firm as well. However, several guidelines apply to marketing plans in general; this Appendix summarizes those points and offers an annotated example. WHY WRITE A MARKETING PLAN?1 A s a student, you likely plan out much in your life—where to meet for dinner, how much time to spend studying for exams, which courses to take next semester, how to get home for winter break, and so on. Plans enable us to figure out where we want to go and how we might get there. For a firm, the goal is not much different. Any company that wants to succeed (which means any firm whatsoever) needs to plan for a variety of contingencies, and marketing represents one of the most significant. A marketing plan—which we defined in Chapter 2......

Words: 7135 - Pages: 29

Premium Essay

Senior

...a Marketing Plan Have a plan. Follow the plan, and you’ll be surprised how successful you can be. Most people don’t have a plan. That’s why it’s easy to beat most folks. —Paul “Bear” Bryant, football coach, University of Alabama WHY WRITE A MARKETING PLAN?1 A s a student, you likely plan out much for the firm, marketing objectives and strategy in your life—where to meet for din- specified in terms of the four Ps, action programs, ner, how much time to spend study- and projected or pro forma income (and other ing for exams, which courses to take financial) statements—enables marketing per- next semester, how to get home for winter break, sonnel and the firm as a whole to understand and so on. Plans enable us to figure out where we their own actions, the market in which they want to go and how we might get there. operate, their future direction, and the means to For a firm, the goal is not much differ- obtain support for new initiatives.2 ent. Any company that wants to succeed (which Because these elements—internal activ- means any firm whatsoever) needs to plan for ities, external environments, goals, and forms a variety of contingencies, and marketing repre- of support—differ for every firm, the marketing sents one of the most significant. A marketing plan is different for each firm as well. However, plan—which we defined in Chapter 2 as a written several guidelines apply to marketing......

Words: 7293 - Pages: 30

Premium Essay

Syllabus

... | PRINCIPLES OF MARKETING BA003IU 1. COURSE STAFF Lecturer: Nguyen Thi Huong Giang Room: A207 E-mail: giangnth@hcmiu.edu.vn (preferred contact method) Consultation Hours: Anytime with appointment, from Monday to Thursday All students are advised to make appointment in advance. 2. COURSE INFORMATION 2.1 Teaching times and Locations Lecture: 8am-11am Monday Venue: L102 2.2 Units of Credit This course is worth 3 credits. 3. COURSE DESCRIPTION: National markets are now in a period characterised by ‘exchange relationships’ where the principal focus is on sets of integrated activities geared to serve the interests of the customer first. The role of the marketer, therefore, is to facilitate exchange transactions in an increasingly challenging environment. This justifies the development of an understanding of the micro and macro dimensions of the wider environment as the participant works through the learning activities of this course. Marketers are expected to be receptive to shifts in customer preferences, attitudes, and loyalties to a brand or a product. There is equally a genuine interest in the capacity of markets (consumers) to engage or respond to demand for innovation in product or service characteristics. At the same time developing a coherent marketing plan depends upon a range of skills, insights, and methodologies, but the focus of your......

Words: 1644 - Pages: 7

Free Essay

Marketing Plan for Kisii University

...KISII UNIVERSITY-NAIROBI CAMPUS SCHOOL OF BUSINESS AND ECONOMICS COURSE TITLE: MARKETING MANAGEMENT COURSE CODE: MBAD LECTURER: BETSY SINDANI NAME: OMBASA ERIC OMINGO REG.NO: CBM12/10183/15 TASK: ASSIGNMENT DATE:29TH OCTOBER 2015 SIGN:____________________ [pic] KISII UNIVERSITY The University Marketing Plan OCTOBER 2015 Table of Contents Table of Contents i Executive Summary 2 History and Background 3 Vision & Mission 3 CORE VALUES 3 SWOT ANALYSIS 3 FOUNDATIONAL MARKETING OBJECTIVES 5 MARKETING GOALS AND STRATEGIES 6 Goal 1: Maintain Strong Enrollment 6 Goal 2: Continue to Grow Kisii University’s Academic Reputation 6 Goal 3: Strengthen and Broaden Brand Awareness 7 Goal 4: Maintain Brand Consistency 8 GOAL 5: Extend the reach and depth of the university by developing strategic programs and collaborations. 8 Summary 9 Executive Summary At Kisii University, the marketing process is a logical extension of the marketing planning process. Marketing encompasses the continuum from making decisions about which academic programs will be offered to providing those programs at a place and rate students are willing and able to access them. The marketing plan of the University outlines critical marketing strategies and the communication methods used to assist in accomplishing......

Words: 1937 - Pages: 8

Premium Essay

Marketing Plan

...THE MARKETING PLAN Getting started: 1) Perform background research on the business category to gain an understanding of buyer behavior, key industry players, key factors that influence the market, etc. (These sources should be shown in the “Sources” section of your paper. 2) Identify the initial parts of a good marketing plan (i.e. competition, background industry information, and external impacts, etc.) 3) Do a thorough SWOT analysis, and make it prominent in your report. This, of course, supports your recommendations. (Again, document all sources.) 4) Do a study of consumer behavior based on demographics, and other secondary sources. (Document all sources.) 5) Identify segments and differences between segments. 6) From this background preparation, write the marketing plan to target the segment(s), complete with goals and strategies to support the pursuit of these goals (1st year to 5th year). See the sample outline below. 7) It is suggested you start your work on this project early in the semester. You may consult with me at any time as you progress to completion. I will check with each student as to the progress of their marketing plan no later than June 29. 8) Academic honesty is expected. Any instances of plagiarism will be dealt with in accordance with university policy. 9) Charts and graphs (either in the body of the report or in appendices) are encouraged in order to illustrate certain key points in your marketing......

Words: 1061 - Pages: 5

Premium Essay

Cornell Marketing

... HADM 2430: MARKETING MANAGEMENT FOR SERVICES Section 1: Mon Wed 11:40-12:55, 398 Statler Hall Section 2: Mon Wed 2:55-4:10, 196 Statler Hall Office Hours: Monday – Friday from 9:00 a.m. to 4:30 p.m., no appointment necessary Course Objectives / Outcomes The mission of this course is to provide you with an introduction to the business discipline of marketing (and services marketing in particular). Marketing, more than any other business activity, links companies to their customers. Even if you don’t pursue a career in marketing, it is useful for you to understand how marketing works. Upon successfully completing this course, you should be able to: 1) Speak the language – In your daily life, you have probably encountered many of the phenomena we will discuss in class. However, if you want to pursue a career in business, you need to be fluent in the terminology, frameworks, and models related to marketing and corporate social responsibility (see service learning project). 2) Apply the concepts learned in class – Knowing the terminology, framework, and models is important. It is more important, however, that you are able to combine and apply them across different contexts in order to make justifiable recommendations. 3) Critique current practice – You will develop the ability to evaluate current marketing practice, not only in terms of its effectiveness, but also in terms of ethical implications. 4) Conduct marketing research –......

Words: 4865 - Pages: 20

Premium Essay

Shsswarthmore College London Athe Level 6 Diploma in Management Strategic Marketing Shs

...SWARTHMORE COLLEGE LONDON ATHE Level 6 Diploma in Management STRATEGIC MARKETING SHS Task | Table of Contents | Page No | Introduction | 03 | Task 01 | 1.1: Assess the role of Strategic Marketing in an organization | 04 | | 1.2: Analyse the relationship between corporate strategy and marketing strategy | 04 | | 1.3: Analyse how marketing strategy is developed | 05 | Task 02 | 2.1: Evaluate approaches to internal environmental analysis | 06 | | 2.2: Evaluate approaches to external environmental analysis | 06 | | 2.3: Explain how internal and external analysis are integrated | 06 | Task 03 | 3.1: Analyse decisions and choices to be made at a corporate level | 09 | | 3.2: Assess how these decisions influence marketing at business unit and functional level | 09 | | 3.3: Analyse approaches to competitive positioning of organizations | 10 | Task 04 | 4.1: Identify a range of strategies that can contribute to competitive advantage | 11 | | 4.2: Analyse marketing communication strategies | 11 | | 4.3: Analyse marketing strategies, their application and implementation for an | 11 | Conclusion | 12 | References | 13 | Introduction: A marketing strategy is something that every single business, how big or small it is, no matter- needs to have in place. Some business owners are hesitant to set up an actual marketing strategy because they simply don’t know how to do it. All this kind of approach means simply trying......

Words: 3164 - Pages: 13

Premium Essay

Pdf, Docx, Doc, Wps

...simple email marketing. Get started today with Campaign Monitor for FREE! Yes please! <iframe src="//www.googletagmanager.com/ns.html?id=GTM-BLDN" height="0" width="0" style="display:none;visibility:hidden"></iframe> * * LivePlan * MPlans * BPlans * Palo Alto Software Home ------------------------------------------------- Top of Form Search Bottom of Form * Sample Marketing Plans * Marketing Software * Marketing Articles * Marketing Resources * Calculators * Marketing Plan Outline * Restaurant, Cafe and Bakery * Hospitality & Events * Retail & Online Stores * Additional Categories * Sales & Marketing Pro * Business Plan Software * How To Write A Marketing Plan * Product Marketing * Branding * Market Research * Public Relations * Lead Generation * Email Marketing * Marketing Strategy * Marketing eBooks * Marketing Blogs * Break Even Calculator * Cash Flow Calculator * Pay-Per-Click ROI Calculator * Starting Costs Calculator * Email ROI Calculator * Conversion Rate Calculator * Investment Offering Calculator * Discounted Cash Flow Getting ready to create a marketing plan? Start your marketing plan Related Marketing Plans * Organic Bakery Marketing Plan * Restaurant Marketing Plan * Catering Marketing Plan * Food Services Marketing Plan * Internet Coffee Shop Marketing Plan ......

Words: 1536 - Pages: 7

Premium Essay

Cmo Description

...CMO of a large company The Chief Marketing Officer (C.M.O) of a company should be a person who plays a leadership role within the firm with a number of required functions in order to accomplish the objectives related to marketing department that include: increase the level of sales, enhance the image of the brand, improve the understanding of the customers behavior. Key Functions 1. Analyze the key trends of the industry in which the company is operating in order to perfectly comprehend the behavior of the clients/customers as well as the future performance 2. Coordinate and deal with several areas included in the marketing department such as product development, sales management, corporate communication 3. Create strong relationship and interact with different areas of the company to ensure that the marketing strategic plan will be reached 4. Improve the customer retention Required skills 1. Experience with high tech marketing software 2. Persuasive and self-confident in order to maintain the loyalty of the existing clients/customers 3. Experience in leading teams with strict deadlines 4. Advanced graduate studies specialized in marketing 5. Results oriented and analytical skills 6. Flexible and be able to change the direction from creative to analytical tasks 7. Track record of implementing and growing new business CMO of a startup company The Chief Marketing Officer (C.M.O) of a company should be a person who plays a......

Words: 678 - Pages: 3