writing a marketing plan

WRITING A MARKETING

PLAN

Sports and Entertainment Marketing

WHAT IS A MARKETING PLAN

A formal, written document that directs a company’s activities for a specific period of time

Outlines the goals and objectives and how the business plans to achieve them

WHY IS A MARKETING PLAN IMPORTANT?

Provides a “road map” for how a product will enter the market, be advertised, and sold

Helps monitor a company’s performance

SWOT ANALYSIS Assessment that list and

analyzes the company’s strengths and weaknesses

Lists everything that can foster success or lead to failure of a business

START WITH….

STENGTHS AND WEAKNESSES

Both are internal factors that affect business operation

Centers around the 3 C’s Company – what does the company do

well, where does it struggle, and the 5 P’s Customers – who is the customer, how

do they rate the quality Competition – what is the market share,

advantages and disadvantages over competition

OPPERTUNITIES AND THREATS Both are external factors that affect

business operation Competition – What are they

doing, changes in financial situation

Political Changes – government involvement (new laws and regulations)

Economic Factors – recession vs. prosperity

Socio-Cultural Factors – (demographics) diversity, health issues, current events

Technology – may help some industries but hurt others ex: digital photography

WRITING A MARKETING PLAN Parts of a Marketing Plan

Executive Summary

Description of Company/Organization – situation analysis

Objectives

Schedule of Events – marketing strategies/implementation

Responsibility Sheet

Budget

Statement of Benefits – evaluation and control

EXECUTIVE SUMMARY Brief overview of the entire plan This should be written LAST Can only be one page

DESCRIPTION OF COMPANY

Explain company background

Take stock of where company has been

Where is it now – where is it headed

Discuss SWOT analysis here

OBJECTIVES What will you accomplish? Must be

Single minded Specific Realistic Measurable Have a time frame

SCHEDULE OF EVENTS What is the time frame of your

campaign? Remember 1-3 months

How are you going to promote the campaign? Special events – fashion shows, theme

nights, etc. Advertising – print, online, on TV Display – in store signage, layout Publicity – press releases, positive buzz

RESPONSIBILITY SHEET Who is responsible for

each aspect of the promotional plan? Only focus on THIS

campaign, not overall Create a chart for this

section Include all aspects of the

campaign

BUDGET How much will your plan

cost? Create a spreadsheet that

includes ALL aspects of the campaign Don’t leave anything out Find realistic prices for what

you want to do