Marketing Planning Workshop. Name:

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Marketing Planning

Workshop

Name:

________________________________________________________________

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Planning your Marketing Strategy Workshop

The learning objectives of this workshop are:

Learning objective 1 To develop a understanding of Marketing

Learning objective 2 To understand market segmentation and identify different socio-economic groups

Learning Objective 3 To be able to use appropriate methods of marketing for your business-targeting your customers

Learning objective 4 To review your marketing plan, comparing costs against effectiveness.

Learning objective 5 To introduce a range of online marketing techniques.

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A guide to Marketing terms and acronyms

Marketing: Marketing is the process a business uses to identify or anticipate its customers’ needs and desires, and promote its products or services accordingly. Successful marketing can really boost the profitability and reputation of any business.

Marketing mix: The set of marketing tools that the firm uses to pursue its marketing objectives in the target market

4 p’s: Price, product, place and promotion

Direct marketing: marketing via a promotion delivered directly to the individual prospective customer

Indirect marketing: Indirect Marketing is the distribution of a particular product through a channel that includes one or more resellers

Market segmentation: Identifying a suitable group of customers who are most likely to buy from you is called market segmentation

E-business: The use of internet technology to conduct or facilitate business.

E-Commerce: The trading of goods and services over the internet.

Search engine optimization (SEO): the process of improving the volume and quality of traffic to a web site from search engines. This can be done via targeted key words.

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The Ps of Marketing

A tried and tested marketing strategy is to focus on these 4 P’s which are key to what will attract your customer, defining who your customer is, and how to reach them.

Product

(Service)

Promotion

Place

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Task 1: Market Segmentation

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Task 1: Market Segmentation answer sheet Flake-chocolate bar

 Female  25 – 45

 Seen as an indulgent treat  Like luxuries

Yorkie - chocolate bar

 Men  18-40

 Employed in manual jobs

 Hard working with large appetites 

Magazines

Vogue-Mairi Claire

 Female  25-45

 Likes designer labels  High end fashion follower  Professional

 Takes regular holidays  Purchases clothes monthly  Like quality goods and materials  Concerned with appearances  Expensive

 In depth interviews

Heat-Closer

 Female  16-35

 Fashion conscious  High street shopper  Interested in celebrities  Cheap to buy

 Sensationalises news/Gossip

Newspapers

Times/ Guardian – Broad Sheet

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7  Serious news – in depth information

 Financial information – company info.  Party weighted – political

 High end job sections – graduates professionals  Expensive 90p

Daily Mirror – Tabloid

 Popular within certain areas  Celebrity based

 Sensationalises news  Easy to read

 Less serious in depth stories  Cheap 45p

 Party weighed political

Drinks Diet Coke

 Aimed at women  20-30

 Single / Groups (Advert – women trapped rescued by man)  Office Setting

 Feminine

 Seen as a healthy option

 Advertised in – Heat, lifestyle magazines  TV adverts

Coke Zero

 Aimed at men  18-35

 Active men (Advert – James Bond) (tidying house while girlfriend in shower Father outside the door)

 Masculine

 Image is not diet conscious/healthy  TV adverts

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Market Segmentation

Describe the market segment you are aiming to provide for, using the categories listed below that apply to your business.

* Who will be your most likely customer?

* Are they distinguishable by their age/gender/family size/income range, where they live/work/shop?

* What is their employment group – professional/managerial;

clerical/supervisory; skilled manual/unskilled manual; unemployed/pensioner etc?

* What are their interests and buying habits?

* Are you aiming for a budget / premium market?

* How wide is your radius – how far will clients come from?

* If you are dealing business to business, you will need to profile both your commercial customers and the ‘end user’ of the product.

Market Segmentation – Identifying your customer base

The first step is to split the general market of customers who would buy such products (from any provider) into more manageable ‘chunks’. This will allow you to begin to identify a suitable group of customers who are most likely to buy from you. This process is called,

‘segmenting the market’.

Remember that you cannot be everything to everyone. You should aim what you do best at those who are most likely to like, need and want it. This is achieved by breaking up the general market of customers into more manageable and appropriate groups; say for example - men/women, young/old, working/non-working etc.

Already within these large categories a group or segment of the bigger market begins to emerge. Based on what your business can offer, the more defined your market segment is, the clearer your customer characteristics will become. This process will enable a greater understanding of who they are and what, typically they are like. This process will then allow you to aim, or ‘market’ your business more appropriately to this group. When you aim your business at a certain market segment (or customer group) with your mix of marketing activities it is called target marketing.

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Task 2: My customer is…

Start noting down who you think you customer is. Eg. What age group, gender, location etc.

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Target Marketing

It is important that you choose methods of marketing that will reach your target market.

There are many different ways to reach your customer. Some examples of marketing methods:

• Free press • Local press • Website • Social Media • Leaflets/posters • Shop front

• Direct mail/E-Mail

• Exhibitions and trade fairs • Networking

It is important to conduct market research to ensure the methods of marketing you are considering match your customer profile.

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Task 3:

Identify marketing methods that would be appropriate for the following businesses. Remember to think about who will be the most likely customers for these businesses:

• Beauty business offering luxury product range

• Accountancy firm

• Local Catering Service

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Task 3: Marketing Methods answer sheet Beauty business retailing luxury beauty products

 Posters/leaflets in high end hair & beauty salons  Website

 Facebook page  Twitter account

 High profile glossy magazines

 Networking with beauty & fashion industry

 Sending sample products to high profile celebrities

Accountancy Firm

 Business networking events  Website

 Online business directories  Business support forums

 Email mail outs providing news and updates

 Contacting business support agencies and banks to pass on business cards

 Government taxation authority  Small Business Federation  Chamber of Commerce  Linkedin

Local Catering Service

 Leaflet drop  Facebook page  Local newspaper  Advertising  Large shop sign  Car adverts  Sandwich board

Mobile Phone App Developer

 Networking within creative & digital sector  Twitter and blog

 Technology based publications

 Business to business direct marketing  Linkedin

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Task 4: Marketing review and action plan Review

What marketing have you done in the past?

How much did it cost? Did it reach your target

market?

How did it go, was it worthwhile?

Action plan

What marketing could you do in the future?

How much will it cost, will it reach your target

market?

How did it go, was it worthwhile?

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Marketing Planning Additional Information

For additional information regarding your marketing strategy please visit

Business link website (link below). Here you will find information regarding:  Defining your target market

 Developing your promotional strategy

 Product strategy - positioning and differentiation  Product portfolio - product life cycle

 Tips and pitfalls

Marketing Planning Workshop. Name: