Standard 4: Analyze the elements of a marketing plan and retrieve sample templates from real companies. Discuss common elements of each marketing plan and identify different objectives that the companies outlined in each plan, citing specific textual evidence. (TN CCSS Reading 1,6, 8,9; TN CCSS Writing 8,9)
Review:
What is a SWOT Analysis?
Today's Objective: Explain the basic elements of a marketing plan
What is a Marketing Plan?
Read pages 37-41: Visual Literacy: Look at Figure 2.2 on page 38.
Compare:
1. How is a marketing plan similar to a road map?
2. How can a small business benefit from writing a marketing plan?
What are the elements of a Marketing Plan? Recall:
3. What is the advantage of reading a marketing plan's executive summary?
List: 4. What criteria is necessary in composing a marketing objective? Analyze: 5. Why must marketing objectives align with an organization's mission statement? Analyze: 6. Why do you think that the company's mission is the first component under Objectives?
Recall: 7. What goes into the situation analysis?
Read about Marketing Strategies on page 39:
A marketing strategy identifies target markets and sets marketing mix choices that focus on those markets. Recall: 8. What does the term key point of difference mean? Apply: 9. What do all marketing strategies need to take into account?
Read about Implementation and Evaluation and Control on page 40: Explain: 10. What is the meaning of implementation in the context of a marketing plan? Analyze: Refer to Figure 2.2.
11. How are items B and C under implementation related to one another?
The Marketing Audit:
Evaluates a company's marketing objectives, strategies, budgets, organization, and performance.
Can be visualized as a circular pattern that continues through the three phases of the marketing process of planning, implementation, and control.
Ask yourself: Did we accomplish the objectives listed in the the marketing plan within the boundaries of the plan?
Because of the important feedback that a marketing audit provides, a company that regularly conducts marketing audits can be more flexible and responsive than a competitor that reviews its processes only every now and then. Recall: 12. When does a marketing audit take place? Analyze: 13. Why is it important for the audit to cover both areas that seem to be functioning well in addition to those that are not? Synthesize: 14. How might a marketing plan go outside its boundaries?
Review Key Concepts
Complete questions 1-5 on page 41 using complete sentences and appropriate vocabulary.
Group Project
In groups of 2-3 people, research marketing plans for real businesses online. Be prepared to talk about the elements of how their marketing plan is similar to the template that we discussed today.
Standard 4: Analyze the elements of a marketing plan and retrieve sample templates from real companies.
Opening Assignment Part 1: (20 minutes total)
On the outline sheet that you picked up from the table, list 2 of each of the following as they relate to you preparing for a successful future.
Strengths 1._______________ 2. ______________
Weaknesses 1. ______________ 2. ______________
Opening Assignment Part 2: Read pages 31-36 in your textbook
Where did the problem lie in this workplace situation?
Class Connect
List the names of companies with which you are familiar.
Why are you familiar with these companies?
Objectives
Learn how to conduct a SWOT analysis.
List the three key areas of an internal company analysis.
Identify the factors in a PEST analysis.
Explain the basic elements of a marketing plan.
Building a House
Similar to building a house.
There is a lot of information that needs to be gathered before they
start hauling in the materials and equipment to start building. What kind of questions might you need answered before you started building a house for me?
Relate
Suppose you had to market yourself as a student. What are your strengths?
Throughout your life you will need to market yourself to achieve success at home, at school, at work, and in the community. You would need to look within to determine what are your unique abilities and also be able to communicate these to others effectively. Your strengths and skills are your selling points, and every time you communicate you have an opportunity to make an impact on how people perceive you.
Businesses must do the same thing to achieve success. In today's lesson we will take a look at the elements of successful market planning.
Before we get to the actual elements of the marketing plan, it is important for you to be aware of some initial information that needs to be gathered that will later be included in the marketing plan.
SWOT
What is the purpose of the SWOT analysis?
What are the three Cs around which internal analysis is centered?
What is the difference between internal analysis and external analysis?
How can a business use a SWOT analysis to assess its place in the market?
Let's say you work for a small electronics company. The owner wants to conduct a SWOT analysis. You think it would be best to hire an outside consultant.
5. What might you say to convince him/her?
Competition - What factor is the "successful marketing of a competitor's product?" (Hint: In what category would you place it in the SWOT table at the top of page 34?)
6. Why is it vital that companies continually keep track of what their competitors are doing?
7. What four factors do the letters in the acronym PEST analysis represent?
8. Do you think consumer confidence might be related to unemployment rates? Explain your answer.
9. A government begins placing tariffs on certain imported goods. What group is most likely to support such an effort? Why?
Look at the image at the bottom of page 35 labeled iOpportunity.
10. What products have become popular as a result of downloading laws?
Internal vs External
11. How are external threats different from internal threats?
12. Which do you think are more dangerous to a company's success in the marketplace?
Class Project - Create Surveys for Gathering Data and Statistics
Get in groups of 4 or 5 students.
Use the questions under "Customer Analysis" as a basis for developing a (10 questions) questionnaire for collecting information about the customers of a particular business in Brownsville. (Ex: restaurant, retail business, doctor's office, gym, etc.) You may look online for customer satisfaction surveys.
Develop questions that can be used to tell a business owner who the customers are, what they want, what they need, what they buy, how satisfied they are with the goods and services offered by the business, and how they perceive the business in terms of quality, service, and value.
One person on the team will create a google form to gather survey information.
One team member may want to research other customer satisfaction surveys.
The rest of the team will work to develop questions particular to that business*.
Questions should be loaded within 30 minutes.
Send the link to me at julie6davis@gmail.com and I will make a post with all the links.
All students will then be directed to take the surveys from different groups.
Groups will collect data and report findings to the class.
What questions produced important information not obvious before?
What questions, if any, brought unexpected results?
Rubric for Report Grading: 40 points total
*Question Guidance:
Remember you are trying to gather information from potential customers
No "yes" or "no" questions
All multiple choice questions - no short answer
Example: How often do you generally eat out? a. 3-5 times per week b. 1 time per week c. 1 time per month
10 Questions - 10 points
Clear, well constructed questions - 10 points
Data collection complete - 10 points
Report presentation - 10 points
Met Deadline - 10 points
Standard 3: Examine the marketing mix; select a product or service
and construct a visual representation with details and examples
illustrating each of the four P's (product, place, price, and promotion)
of that particular product or service. Objective
Explain how each component of the marketing mix contributes to successful marketing.
Read on Your Own
Read pages 20 (The Marketing Mix) -23 in your text book.
Class Discussion
What are the four basic marketing strategies of the marketing mix?
Why would some marketers add a fifth P to the marketing mix? What would the P stand for?
Describe each of the four Ps.
Marketing Mix for a New Juice
Read the different elements of the 4 Ps.
Divide into pairs. With your partner, determine how the 4 Ps might look different if Campbell's was targeting teenagers for it's new juice.
Once you have suggestions for each, each group will share their ideas.
Review Key Concepts Answer questions #1-5 using complete sentences in a Google doc. Email to me at julie6davis@gmail.com.
Standard 5: Explain the concept of market segmentation. Cite textbook and case studies in a discussion of how market segmentation is used as a company strategy to increase its market share.
Assignment: Market and Market Identification
As you read pages 17-20, create
a vocab sheet on a google document to share with me at the end of the
lesson. Some are from previous lessons.
Pay attention to the "As You Read" inserts and graphics
You should be familiar with the correct usage of these
marketing terms when discussing marketing principles in class... and
competitions.
market
consumer market
organizational market
utility (list and define)
marketing concept
seven marketing core functions
market share
target market
market segmentation
customer profile
marketing mix (list and define)
Let's Talk About It
Be prepared to discuss the ideas of "Market" and "Market Identification" (hint: see questions below.)
Lesson Objectives:
Describe how marketers use knowledge of the market to sell products.
Compare and contrast consumer and organizational markets.
Explain the importance of target markets.
Let's Discuss and Learn from each other:
Look at the quote on page 17. What is meant by saying the terminology
in this section is the foundation for future work and study in
marketing?
What markets are you a part of?
What marketing trends have you observed through the media or by watching others?
In your own words, what is the definition of market?
What is the difference between the consumer market and the organizational market?
Why is it important for companies to know their market?
What information does a customer profile contain? How do businesses get this information?
What is market share?
Look at Figure 1.1 on page 18. Explain what the graph is illustrating. What could cause a business's market share to change?
Why might consumers be interested in a company's market share?
On page19 you see two different adds for Campbell soups. How are these ads different? What elements in the ads tells you they are targeting two different markets to buy their soups?
How do you think businesses use the concept of market share in their marketing?
Mini Project
Imagine that a company that sells class rings has targeted our class.
List factors the company can use in its marketing effort based on your group. We will share factors to create a class list.
What are the similarities and differences in the factors?
Divide into groups of 4. How might the company market the same product to:
Males and females
High school students and college students
Stay-at-home moms and business executives
Did you Get It?
Look the State Farm ad on page 20. What market is this ad targeting? What clues do you see about this market? How different would this ad look if the company were advertising insurance policies to businesses?
Wrapping it Up
Hopefully through your reading, class discussions, and working through the project you have a good understanding that...
Marketers identify consumers who have the ability to pay and use that knowledge of the market to sell products.
A consumer market purchases for personal use while an organizational market purchases for businesses.
All marketing strategies are directed to target markets.
Standard: 1 Define marketing and describe the marketing benefits derived from each economic utility. Discuss how each benefit adds value to products and services.
What are the Economic Benefits of Marketing?
Independent Reading: Take the next 15 minutes to read pages 13-15 in your text book.
Class Discussion:
Name new products that are currently being advertised:
What is new and/or different about these products?
Where did you get your information?
Did it come from personal knowledge of the product or from advertisements?
How did you hear about the product in the first place?
From the reading, how does marketing generate new & improved products?
How does marketing lower prices? Who benefits from that?
Objectives:
Describe the benefits of marketing.
Explain the concept of utility.
Cite examples of types of utilities.
Watch the following video and try to determine what you are seeing: What is Utility?
Assignment:
Turn to pages 14-15 to learn more about utility?
On your own paper, give examples in your own words of the following kinds of utility.
Form Utility:
Place Utility:
Time Utility:
Possession Utility:
Information Utility:
Review Key Concepts: Answer questions 1-5 (on the same paper as above).
Standard 2: Describe each marketing core function and supply examples of how each of these functions support the marketing concept.
Group Project:
You have 15 minutes
to complete your group project from last class (Research 3 of the 7 core
functions used for a particular good or service.)
We will begin presentations today.
The Most Magical Place on Earth! Safety... Courtesy... Show... Efficiency
"Brave" Merida- Princess of Scotland
Davis family meets Anna from "Frozen"
Ariel makes a new friend
That's CRM! Customer Relationship Management...
Read to Know: (pages 10-11 in textbook)
Definition: The Marketing Concept
"The marketing concept is the idea that a business should strive to satisfy customers' needs and wants while generating a profit for the business."
Notice: The focus is on the customer.
Help me rephrase the definition of the marketing concept in your own words.
Group Discuss:
Have you ever stopped going to a particular store or using a particular product?
How do businesses keep their customers?
What are the seven marketing core functions?
How do they help a company's market concept?
Why is it important that everyone in an organization recognize that repeat customers keep a company in business?
What is CRM?
How does CRM help businesses employ the marketing concept?
Marketing Case Study: Read the Johnson & Johnson Target Marketing case study on page 10. On a sheet of paper answer the following: (remember proper heading)
Solve the problem in gold
Give short answers (complete sentences) to the following questions:
Can you think of any other examples of companies reaching out to customers in the manner that Johnson & Johnson chose to reach out to the Hispanic market?
Why should a company be very careful when planning marketing strategies designed to appeal to specific ethnic markets?
Teen Spending Power
Forbes Article - How much Financial Power Does Gen Z Have?
Marketing and Management 1: Principles Standard 2: Describe each marketing core function and supply
examples of how each of these functions support the marketing concept.
Marketing is All Around You
You already know a lot bout marketing because it is all around you. You've been a consumer for several years. You've made decisions about products you like and don't like.
Group Think:
1. When have you been influenced by marketing?
2. See how many types of advertising you can think of:
3. Why do you think there are so many types of marketing?
4. Think about the last few purchases you made. Why did you choose to buy your last purchase?
Remember the AMA's definition of marketing? Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
To achieve this, it involves the process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers. This is the scope of marketing!
Discuss:
1. What is the difference between goods and services?
2. Give some examples of how ideas can be sold.
In order for you to go from not having these ideas, goods or services to obtaining them, there are 7 core functions of marketing that are involved to get them to you.
Assignments:
1. Use the provided graphic organizer to list the functions and their purpose: (See page 8-9 in text book to learn about these functions.)
Group Activity:
2. Break up into groups of three (3)
Choose a product or service, and research and
discuss each of the 7 functions of marketing for that product or
service: Prepare a PowerPoint presentation. Use the provided evaluation rubric.
Channel Management
Market Planning
Marketing information management
Pricing
Product/service management
Promotion
Selling
Be prepared to share with the class next time.
Before We Go
3-2-1:
Write your first name on the post-it note provided and list:
3 things you learned
2 things you have a question about
1 thing you want me to know
Turn in as you put your book away in numerical order on the cart
Discuss: 1. Do you have your own brand? 2. What is it that others think of you? Responsible? fun? smart?
Later we will talk about YOUR brand, but this idea of "brand" gets us thinking about the impact of marketing.
You may be wondering... "What exactly is marketing?"
The American Marketing Association changed its official definition of marketing in 2007. Read the AMA's 2004 definition:
2004- Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Now read the AMA's 2007 definition of marketing:
2007- Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Class Question: How does the 2007 definition differ from the 2004 definition?
"Marketing is no longer a function - it is an educational process." AMA quote to students...
How Does Marketing Impact Business? Read the article found in this link about Sticks and Stones then answer a few questions. At some point in the reading click on the link to "Sticks and Stones" from the article to visit their site.
The following questions are related to the article on "Sticks and Stones". Send
the answers to the two questions below to me at julie6davis@gmail.com.
In the subject line put your name and "Sticks and Stones".
1. In paragraph #7, Jera Deal says she sees herself as the company's target market. What do you think that means?
2. How did the Deals get the word out about their company?
Assignment: Back to the question "What is YOUR Brand?" Sometimes you just meet someone and they want to know about you. Watch this video to learn "tell me about yourself" if you are in a job interview.
1. Create your personal elevator speech on the bottom of your paper. Put your name and "elevator speech" as the assignment name. You wouldn't have much time in an elevator, so your speech should be no more than 4-5 sentences.
