Marketing and Management 1 Principles: Writing a Marketing Plan

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.