7-1 chapter seven marketing plan dr. bruce barringer university of central florida
TRANSCRIPT
7-1
Chapter Seven
Marketing Plan
Dr. Bruce BarringerUniversity of Central Florida
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Introduction
Marketing plan Marketing strategy Positioning Points of differentiation Price Promotional mix Sales process Distribution strategy
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Overall Marketing Strategy
Marketing strategy
Approach to marketing a firm’s products and services stated in broad terms, which forms the basis of all its marketing-related activities
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Positioning Strategy
Positioning is how a firm is situated relative to its rivals
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Points of Differentiation
Clear points about your product that are memorable and distinct that make your product different and better than existing products
Product attribute map
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Product Attribute MapFigure 7-1
Low
Low
High
High
Tailored to the Specific Needs of Clientele
Ra
ng
e o
f A
me
niti
es
Pro
vid
ed
Gold’s Gym LAFitness Bally
YMCA
Community centerfitness clubs
Prime Adult Fitness
Curves International
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Pricing Strategy
How to price your product or service
Cost based Value based
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Sales Process and Promotions Mix
Sales process are the steps a firm goes through to establish relationships with customers and close sales
1. Prospecting2. Initial contact3. Qualifying the lead4. Sales presentation5. Meeting objections6. Closing the sale7. Follow up
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Promotions Mix
The specific tactics a firm uses to communicate with its potential customers
Advertising Public relations Other promotions-related
activities
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Advertising
Makes people aware of your product so they are persuaded to buy it
Major goals Raise customer awareness of
product Explain product's comparative
feature and benefits Create an association between
product and lifestyle
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Public Relations
Efforts to establish and maintain a company's image with the public Press release Media coverage Article in local newspapers Blogging Monthly newsletter Civic, social, and community
involvement
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Other Promotions-related Activities
Free samples Creating buzz by creating awareness and
sense of anticipation about company and product
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Distribution and Sales
Distribution encompasses all the activities that move a firm’s product from its place of origin to the consumer
Where people in your target market shop
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Sales Strategy
A firm needs to decide whether to field its own sales force or use intermediaries
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