Step 1- Primary Target Market (describe them demographically, psychographically and behaviorally)
Step 2- Needs, Wants and Demands of the Primary Target Market (relate to Maslow's Hierarchy of Needs)
Step 3- Competition and Competitive Position Map- Who are your direct and indirect competitors and how are you positioned against them (2 maps)
Step 4- What is the gap, the opportunity and how will you position (based on the gap in the competitive positioning map)
Step 5- What is the size of the market from the 3 C perspectives (customer, company and competition)
Step 6-9 is all about the traditional 4 P marketing mix
Step 6- Product: What is the product. How many variants does it have. How does it look in the shelf vs. competitors
Step 7- Promo: How is the product promoted (Integrated marketing communications: Mass Communication- Sales Promotions, Advertising, Public Relations, Events and Experiences; Personal Communication- Direct Marketing, Interactive Marketing, Personal Selling and Word of Mouth)
Step 8- Price: How is the product priced vs. competition. If the product has several variants and sizes, how is it generally priced (premium, parity or discount)
Step 9- Place- Where is the product distributed? How does it reach the customers?
Step 10- What is the generic winning strategy- Low Cost Producer? Supply & Distribution Leverage, Differentiation, Niche?
The simplified, illustrated, annotated guide is shown below.
Vcoach 10 step marketing plan 2011 edition - Simplified, Annotated and Illustrated by Professor Remigio Joseph (Bong) De Ungria of the Ateneo Graduate School of Business
View more presentations from Remigio Joseph DeUngria.
The accompanying downloadable template is shown below.
Prof. Remigio De Ungria Template And Sample 10 Step By Step Marketing Plan To Students
View more presentations from Remigio Joseph DeUngria.
Prof. Bong De Ungria
Ateneo Graduate School of Business
