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
