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Slide 1: Developing A Successful Marketing Plan SRMarCom
Slide 2: A successful marketing plan integrates all marketing activities with all other company departments to surround the consumer without them ever knowing they are being inundated with your message. A successful plan is a MarCom Plan SRMarCom
Slide 3: What Is MarCom? MarCom is an Integrated Marketing and Communications Plan. MarCom elements serve as the foundation of a company’s business plan. MarCom ensures that all company departments and personnel communicate the same message to the same targeted audience. SRMarCom
Slide 4: Goals of MarCom 1. 2. 3. 4. 5. 6. Define Market Create A Clear & Concise Message Ensure the Message is Consistent & Accurate Position/Brand the Company/Product Track Responses Forecast SRMarCom
Slide 5: How To Begin In creating a product, you must first ask “What can be sold?” If production / engineering / development state “I can do this – it’s really neat!”. The marketer must ask “Is there a market and can it be sold?” If not, as interesting as the product would be, it’s a waste of company resources. SRMarCom
Slide 6: Developing A Full MarCom Plan 1. 2. 3. Define your goals: What do you want your end result to be? (This should be more than just “King of the World”) Define your market: To whom can you sell to achieve your end goals? (Research, Research, Research) Define your strategy: Define your tactics: How will you sell your product? (Do you want to be known for quality – selling at a higher price – or as a mass marketer – selling at a lower price?) What are the specifics in selling your product? (What avenues / channels will you take to sell your product?) 4. SRMarCom
Slide 7: Define Your Goals What is it you want out of your work? Sample: “I want my software to be known as the best CAD product for landscapers in the industry – complete, easy to use and affordable for independents as well as firms.” SRMarCom
Slide 8: Define Your Market Situation Analysis 1. Market Analysis: Determine market size, market segmentation, and market growth. 2. SWOT: Conducted on the company and product. (Strength, Weakness, Opportunity, and Threat) 3. Competitor Analysis: Conducted on all competitors and competitive products. SRMarCom
Slide 9: Market Analysis  Market Size: What is the best case potential? – – – – – Surveys Magazine Readership Census Bureau – age, education, business, income, spending, geography List Houses, Schools Competitor Web Sites  Market Segmentation: What is your niche? – Parse Market Size numbers into targeted populations for your niche market. Where is the best chance of a sale? – Behavior Analysis  Market Growth: What will the future hold? – What are the projections in the field you are selling to? SRMarCom
Slide 10: SWOT  Strength: What are your and your product’s attributes? What can you or your product do better than others?  Weakness: Where are your and your product’s short comings Opportunity: What are the market trends?  Where can you surpass your competition? SRMarCom
Slide 11: SWOT Analysis must include the company’s history (where it was, where it is and how did it get there).     Company growth Product offerings Sales Volume Markets Served SRMarCom
Slide 12: Competitor Analysis      Who are the competitors? What niche markets do they serve? Where do they sell? How do they price their products? What is their financial status? SRMarCom
Slide 13: Define Your Strategy     Who is your market? Why did you choose this market? What behavior of your market can you target? Decide: – – – – How will you compare to competitors? What is the pricing structure? What is your positioning? What are your benefits / value? SRMarCom
Slide 14: Define Your Tactics     Define your product Define your price Define your channels of distribution Define your MarCom Plan Advertising Press Releases Public Relations Web Site Direct Response Promotions Telemarketing SRMarCom
Slide 15: What’s Next?  Develop response measurements Assess resources (personnel – monies) Develop budget Develop time line for implementation    SRMarCom
Slide 16: Next Steps  For more information or to contact the author: Andy Forbes a.forbes@earlystage.com