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Marketing Strategy
This chapter explains how you plan to bring the product to the markets, at what sales price, how much it will cost you, and how much you will sell. This elements are known as the four P's:
- Product
- Price
- Promotion
- Place
Marketing Objectives
Describe your marketing objectives, including the following goals:
- Profitability goals
- Sales targets
- Market share targets
- Product positioning
Marketing Strategy
Describe your current and projected marketing strategy. Emphasize the reasons for adapting this strategy, covering the following areas:
- The target market and segmentation
- The distribution strategy
- The pricing policy
- The promotion and advertising
- Strategic alliances
- How to address competitors
- The marketing organizational structure
Strengths and weaknesses
The marketing strategy should be based on the company strengths and weaknesses. Outline the following points:
- Technology: Performance, Quality, Uniqueness
- Marketing: Market Share, Distribution, Prices, Image
- Financial: Financial resources, Stability, Financial leverage
- Corporate: Size, People, Goodwill Alliances
Target market and segmentation
Clarify your target market, why you decide to focus on it, and how product, price, promotion, and place match the needs of the specific market segments.
Distribution strategy
Describe your current and projected distribution channels, such as retail and wholesale outlets, direct sales by salesmen, direct mailing, and sole representatives.
Explain why you chose these channels, and describe their structure and competitive advantages.
If you intend to use more than one channel, explain how it will work.
Pricing policy
Explain your pricing policy, discount structure, and the relationship of your prices to your competitors' prices. Include your full price list.
Promotion and advertising
Explain how you intend to promote your products, including advertising, public relations, and other activities.
Strategic alliances
List your current and projected strategic alliances, and explain how they serve your marketing needs.
How to Address Competitors
Explain how you intend to address your competitors, and why you think this is an appropriate strategy.
Marketing Organizational Structure
Explain your marketing organization structure, and the plans for the future. Describe the leading team, facilities, and location.
Marketing activities
List your main marketing activities. For each activity describe its objectives, schedule, and responsibilities.
Sales plan
Present your sales plan, including sales quantities, sales price, and revenue, as in the following table:
Sales Plan (Units) |
|
20xx |
20xx |
20xx |
20xx |
Telephone - Local |
500 |
600 |
700 |
800 |
Telephone - USA |
800 |
900 |
1,000 |
1,100 |
Telephone - Europe |
1,000 |
1,100 |
1,200 |
1,300 |
Sales Plan (K-$) |
|
20xx |
20xx |
20xx |
20xx |
Telephone - Local |
750 |
855 |
948 |
1,083 |
Telephone - USA |
960 |
1,026 |
1,083 |
1,191 |
Telephone - Europe |
1,400 |
1,463 |
1,516 |
1,643 |
Total Sales |
3,110 |
3,344 |
3,547 |
3,917 |
Marketing budget
Prepare a marketing budget, as in the following table.
Fixed Expenses (K-$) |
|
20xx |
20xx |
20xx |
20xx |
20xx |
Exhibitions |
0 |
50 |
80 |
100 |
120 |
Advertising |
0 |
50 |
80 |
100 |
120 |
Brochures |
60 |
50 |
50 |
50 |
50 |
Travel |
60 |
50 |
80 |
100 |
120 |
Other |
60 |
50 |
50 |
50 |
50 |
Total |
180 |
250 |
340 |
400 |
460 |
Variable Expenses (%) |
|
20xx |
20xx |
20xx |
20xx |
20xx |
Commissions |
25% |
25% |
25% |
25% |
25 % |
Total (K-$) |
61.5 |
777.5 |
836.0 |
86.7 |
979.2 |
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