Great – thank you again!
Now for our FINAL question…
Can you please tell us how things fit into a marketing plan? That is, what goes where?
Below are the main sections of a marketing plan that you kindly sorted out for us:
- Mission Statement
- Situation Analysis
- SWOT Analysis
- Marketing Objectives
- Marketing Mix Tactics and Actions
- Financial Budget
- Controls and Contingency Plan
Can you please tell us where each of the following pieces of information fits into a marketing plan above?
- If we do not reach 100 customers per week by next month, we will hold a series of sales promotions to increase customer numbers
- A key weakness for our firm is a relatively low market share
- Our business exists to add value and excitement to the lives of our customers by delivering great products and service
- A key goal for us is to increase market share to at least 15% by the end of the year
- At an average price of $7.50 per product sold, we should achieve a $2,000 per week profit level
- Our environmental scan has indicated that economic uncertainty will continue for the next few years
- We plan to launch a new product in Quarter 3 this year, introduce a customer loyalty program in two months time, and post social media content each week
For each of the above points, identify which marketing plan number (from 1 to 7) that they best fit to.
There are seven points above and each number should only be used once. For example, for the first point (If we do not reach 100 customers…) in which section of the marketing plan would you find that?
Enter the numbers 1 to 7 in the order of the 2nd list and only use each number once only.