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    An example of a marketing plan

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    © All Rights Reserved
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    16 views16 pages

    A Sample Marketing Plan

    Uploaded by

    Nguyễn Khánh Diệp
    An example of a marketing plan

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    APPEND A Sample Marketing Plan Crafting a marketing plan is hard but satisfying work. When completed, a marketing plan serves as a roadmap that details the context and scope of marketing activities including, but not limited to, a mission statement, goals and objectives, a situation analysis, growth opportunities, target market(s) and marketing (mix) program, a budget, and an implementation schedule. As a written document, the plan conveys itr words the analysis, ideas, and aspira- tions of its author pertaining to a business, product, and/or brand marketing effort. How a marketing plan is written communicates not only the substance of the market- ing effort but also the professionalism of the author. Writing style will not overcome limitations in substance, However, a poorly written marketing plan can detract from the perceived substance of the plan. _WRITING AND STYLE CONSIDERATIONS Given the importance of a carefully crafted marketing plan, authors of marketing plans adhere to certain guidelines. The following writing and style guidelines generally apply: * Use a direct, professional writing style. Use appropriate business and marketing terms without jargon. Present and future tenses with active voice are henerally better than past tense and passive voice. + Be positive and specific. At the same time, avoid superlatives Cterrific” “wonderful"). Specifics are better than glittering generalities. Use numbers for impact, justifying computations and projections with facts or reasonable ‘quantitative assumptions where possible. + Use bullet points for succinctness and emphasis. As with the list you are reading, bullets enable key points to be highlighted effectively and with great efficiency. + Use “A-level” (the first fevel) and “Bevel” (the second level) headings under major section headings to help readers make easy transitions from one topic to another. This also forces the writer to organize the plan more carefully. Use these headings liberally. at least once every 200 to 300 words. * Use visuals where appropriate. Illustrations, graphs, and charts enable large amounts of information to be presented succinctly. *+ Shoot for a plan 15 to 35 pages in length, not including financial projections and appendices. An uncomplicated small business may require only 15 pages, while a new business startup may require more than 35 pages. * Use care in layout, design. and presentation. Laser 0 more professional look than do dot matrix printe: cover and clear title page adds professionalism, k-jet printers give a Abound report with a ‘This appendix is adapted! from Roger A Kerin, Steven W Hartley. Erle N Herkowitz, and William Rudelius, ‘Marketing, 8th ed, (Burr Ride. 11. MeGraw-Hill/lewin, 2006), (sed with peemssion, 7 18 (CHAPTER 1 FOUNDATIONS OF STRATEGIC MARKETING MANAGEMENT ia SAMPLE FIVE-YEAR ANNOTATED MARKETING PLAN FOR PARADISE KITCHENS*, INC. ‘The marketing plan that follows for Paradise Kitchens®, Inc. is based on an actual plan developed by the company. To protect proprietary information about the company, a number of details and certain data have been altered, but the basic logic of the plan has been preserved. Various appendices are omitted due to space limitations. Notes in the margins next to the Paradise Kitchens®, Inc. marketing plan fall into two categories: 1, “Substantive notes claborate on the rationale or significance of an element in the marketing plan. 2. Writing style, format, and layout notes explain the editorial or visual ration- ale for the element. As you read the marketing plan, you might consider adding your own notes in the ‘margins related to the discussion in the text. For example, you may wish to compare the application of SWOT analysis and reference to “points of difference” in the Par- adise Kitchens®, Inc. marketing plan with the discussion in Chapter 1. As you read additional chapters in the text, you may return to the marketing plan and insert addi- tional notes pertaining to terminology used and techniques employed. \ SAMPLE MARKETING PLAN The Table of Contents provides quick access to 19 the topics in the plan, usually organized by section and subsection headings. Seen by many experts as the single most important element in the plan, the Executive Summary, with a maximum of two pages, “sells the document to rs through its clarity and brevity. | The Company Description highlights the recent history and recent | successes of the | onpanization. ‘The Strategic Focus and. Plan sets the strategic direction for the entire organization, a direction with which proposed actions of the marketing” | | plan must be consistent.” ‘This section is not included “| | in all marketing plans. focuses the activities of Paradise Kitchens for the © stakeholder groups tobe served. 2 Five-Year Mankerins Phas Paradise Kitchens”, Inc. ~ Table of Contents - 1, Executive Summary 2, Company Description Paradise Kitcheny®, Inc. was started by cofounders Randall E Peters and Leah E, Peters to develop and market Howlin’ Coyote* Chili,a unique line of single serve and microwavable Southwest. em/ Mexican style frozen chili products. The Howlin’ Coyote? Line Of chili was first introduced into the Minneapolis-St. Paul market and expanded to Denver two years later and Phoenix two years after that > the Company’s knowledge, Howlin’ Coyote? is the only premium-quality, authentic Southwestem/Mexicanstyle, frozen ili sold in U.S. grocery stores. Its high quality has gained fast, widespread acceptance in these markets. In fact, same-store sales doubled in the last year for which data are available, The Company believes the Howlin’ Coyote® brand can be extended to other categories of Southwestern/Mexican food products such as tacos, enchiladas, and burritos Paradise Kitchens believes its high-quality, high-price strategy lines how the has proven successful. This marketing plan Company will extend its geographic coverage from 3 mark 20 markets by the year 2010. sto. 3. Strategic Focus and Plan ‘This section covers three aspects of corporate strategy that influence the marketing, plan: (1) the mission, (2) goals,and GB) core competence/sustainable competitive advantage of Paradise Kitchens. 5 Mission The mission and vision of Paradise Kitchens are to market lines of high-quality Southwestern/Mexiean food products at premium prices that satisfy consumers in this fast-growing food segment ‘while providing challenging career opportunities for employees \d above-average returns to stockholders, FRse Goals section sew both the financial and nonfinancial targets — | where possible in quantitative terms which the company’s performance will be measured, \gainst Lists use parallel | construction to improve readability—in this case a series of infinitives starting with“To, . ‘snapshot to answer the question, "Where are we: now? g CUAPTER | FOUNDATIONS OF STRATEGIC MARKETING MANAGEMENT Gous For the coming five years, Paradise Kitchens seeks to achieve the following goals + Nonfinaneial goa Lo retain ity present image ay the highest quality line of Southwestern/Mexican products in the food categories in which it competes, Vo enter 17 new metropolitan markers, Ta achieve national distribution in two convenience store or supermarket chains by 2005 and tive by 2006. Vo add 3 Tobe -w product line every third year. mong the top three chili lines— regardless of packaging Grozen, canned) in one-third of the meteo, markets in which it competes by 2006 and two-thirds by 2008. Financial goals L. To obtain a real Gnflation adjusted) growth in earnings per share of 8 percent per year over time, 2. To obtain a return on equity of at least 20 percent 3. To have a public stock offering by the year 2006. ‘Cont: Commcrency AND SustatNaus COMPETTTIVY, ADVANTAGE In terms of core competency, Paradise Kitchens seeks to achieve a unique ability (1) to provide distinctive, high-quality chilies and related products using Southwestern/Mexican recipes that appeal to and excite contemporary tastes for these products and (2) to deliver these products to the customer's table using effective manufacturing and distribution systems that maintain the Company's quality standards. To translate these core competencies into a sustainable ‘competitive advantage, the Company will work closely with key suppliers and distributors to build the relationships and alliances necessary to satisfy the high taste standards of our customers. Situation Analysis ‘This situation analysis starts with a snapshot of the current environment in which Paradise Kitchens finds itself by providing a brief SWOT (strengths, weaknesses, opportunities, threats) analysis. After this overview, the analysis probes eversiner levels of detail: industry, competitors, company, and consumers, A SAMPLE MARKEPPSG PLAN ‘The SWOT Analysis identifies strengtis, weaknesses, opportunities, and threats to provide a a springboard to identify subsequent actions in the ‘h long table, graph, or photois given a figure number and title. Itthen appears as soon as possible after the first reference in the text, accommodating: necessary page breaks, "This. also avoids breaking long ~ tables like this one in the - middle. Short tables or af ‘graphs tha are less than 1 inches‘are often inserted’ in the text withour figure numbers because they don't cause serious 7) 5! problems with page breaks, SWOT Awanvsis, man strong limited n igure 1. Internal Factors Mangement Finance Manufacturing since its products first appeared on groc swor Figure 1 shows the internal and external factors atfecting the market opportunities for Paradise Kitchens. Stated brietly, this Company's favor internally are its strengths of an stern/Mexiea Yerenieehs Experienced and entreprenet ‘management and board Unique, high-yua high-price products Distribution in three markets with excellent acceplance Good work force though small, Hue turnover cllent growth in sales revenues, Ext Sole supplier ensures high. quality Continuing eiforts to censure quality in delivered products nalysis for Paradise Kitchens SWOT analysis highlights the great strides taken by the Company / fy shelves. In the ! xperienced nt team and board of directors. excellent acceptance of its lines in the three metropolitan markets in which it competes, wufacturing and distribution system to serv iarkets. Favorable extemal fictors (opportunities) include the inereasing appeal of Southw pgth of the upscale market for the Company's products food: processing technological breakthroughs that make it easier for smaller food producers to compete these n foods, he ! restrict options | “Many lower quality lowerprice competitors No national awareness or distribution;resteicted shelf space in the ccver section | Big gap if key ‘employee leaves, Limnited resources muy restrict growth ‘opportunities when compared to giant mpetivars Lack ceGnomies of scale of huge | competitors Lack of canning and microwayable food- | processing expertise CHAPTER 1 ROUNDATIONS OF STRATLGIC MARKETING MANAGEMENT. Figure 1. SWOT Analysis for Paradive Kitchens (continued) external Factors Uppartuntiies Threuts Consumer/Social Vipscale market, likely Preawun price may bbe stable Timat aevess to, Southwesten/Mexican mass markets: Hood category ts consumes value a lastyrwing segment strong brand name due to growtte | Hispanic Amencan population and desire and Not patemtable; Competitive Distinctive nam packaging in competition can its markets attempt to duplicate productzothers better able to pay slotting, fees Fanolugical Technical break ‘Competitors have throughs enable -xtined economies sinaller food prod. in canning and cers toachieve many —_-microwavable cconomicsvailable to food processing large competitors. Economic Consumer income is Many households | high:convenience im- “eating out'and portant to US. bringing prepared _ houscholls takeout into home Phe Industry Analysis Legal/Regulatory High U.S. Food & Mergers among large section provides the z Drug Admin, standards competitors being. backdrop for the climinate ly-by-night approved by subsequent, more detailed «| a er CSAS EE fovernment analysis of competition, the: company, and the com: “| Pany’s Customers. Without. an in-depth understanding «| of the industry, the remaip- ~ ing analysis may be mis. Among unfavorable factors, the main weakness is the limited size of Paradise Kitchens relative to its competitors in terms of the depth of the management team, available financial resources, and national awareness and distribution of product lines, Threats include the ‘danger that the Company's premium prices may limit access to mass markets and competition from the “eating-out”and"take-out” markets Inpusrry ANALYSIS: TRINDS Sicy AND Muxican Foons Frozen Foods. According to Grocery Headquarters, consumers arc flocking to the frozen-food section of gracery ilers, The reasons: hectic lifestyles demanding increased convenience and an abundance of new, tastier, and nutritious products. By 2004, total sales of frozen food in grocery retailers, drugstores, and mass merchandisers, such as Target and Costco (excluding WalMart), reached $27.6 billion. Prepared frozen meals, which are detined as meals or entrees that are frozen and require minimal preparation, accounted for $7.3 billion, or 26 percent of the total frozen-food market, which is shown in Figure 2 eh wclaively | brief, See 5: A SAMPLE MARKETING PLAN This summary of sales of key entrees in the prepared frozen-food product category, showing Mexican entrees are significant, provides a variety of furure opportunities for Paradise Kitchens, Aswith the Industry ‘Analysis, the Competitor ‘Analysis demonstrates that. the company has a realistic understanding of who its inajor competitors aneand what their marketing: strategies are: Again, a realistic assessment gives ‘confidence to readers that subsequent marketing actions in. the plan rest on a solid foundation. 3 Figure 2 Some roger Entrees includ 1 Prepared Frozen: Food Product Category, 2004 Proven dinners Sta3s a allan emrees ast _ mo | Meat entrees oH w | Mexican entrees 306 7 | Onemtal emtrces " 7] Poultry entrees Lot7 - Sealud entrees 190 - Other entrees L281 7 Total sua Handheld entrees, such as Hot Pock: ($1.1 billion), comprise nificant portion of the “Other entree “category. However, frozen pi a/snacks, Which are not included in this category, accounted for an additional $3.5 billion in Irezen-food sales 2004.1 more vy Consumers of frozen meals, tho: als every Lwo weeks, tend Lo be kid adults 35-44 years old who eat five or teens, and young Mexican Foods. Currently, Mexican foods such as burritos, enchiladas, and tacos are used in two-thirds of American households, These trends reflect a generally more favorable attitude: on the partof all Americans toward spicy foods that include red chili peppers. Grocery marketers and ret capitalize on this trend by developing meals targeted to those who desire this type of food. Considering the current desire for convenience, several major food processors, such as Hormel, Tyson Foods, and ConAgra, as well as Hispanicowned firms, such as Goya (Mission Foods), Ruiz. Foods, and Don Miguel's, have introduced many new frozen Mexican food entrees over the past few years. ‘The growing Hispanic population in the U.S.,about 36 million and, almost $600 billion in purchasing power in 2004, partly explains the increasing demand for Mexican food. rs have tried to (Comprrrrons wn THe Cima Marner ‘The chili marker represents over $500 million in annual sales, Onaverage, consumers buy five to six servings annually. The products fall primarily into two groups:canned chili (70 percent of sales) and dry chili (25 percent of sales). The remaining 5 percent of sales go to frozen chili products. Besides Howlin’ Coyote®, Stouffer's offers a frozen chili product (Slowfire Classie’s Chunky Bee & Bean Chili) as part of its broad line of frozen dinners and entrees, Major canned chili brands include Hormel, Wolf, Dennison, Stagg, Austin’s, and Castleberry’s. Their retail prices range from $1.49 to $2.49. In the fall of 2004, Campbells, the world’s largest maker of soup, and Bush Brothers, privately held marketer of baked beans, will enter the canned chili market, However, Bush will use a glass bowtle to package its Homestyle Chili brand, ‘The Company Analysis. provides details of the company’s strengths and marketing strategies that | will enable it to achieve the | mission and. goals identified earlier CHAPTER) HOUINDATIONS OF STRATEGIC MARKETING MANAGEMENT unuy put, rhe major disidvantage of the segment’s dominant itdoes not taste very good, A taste test Ueseribed in un issue of Conseamer Reports magazine ranked 26 canned chili products “poor” to “fair” in overt sensory quality. The study concluded, "Chili doesn't have to be hot 10 be good. But really good chili, hot or mild, doesn't come QUE oF a Gan. proctuet, cannes cbili, is th Dry mix brands include such familiar spice brands as MeCormick cwhich has 40 percent of this marker), Lawzy's, Freneh s,and Durkee, along with smaller offerings such as Wick Fowler» and Carroll Shelby's. Their retail prices range from $0.99 to $1.49, The Consumer Reports study was more fivorable about dry chili mixes, ranking them trom fair" to“very good.” Company ANALYSIS Currently, Howlin’ Coyote” products compete in the chili and Mexican frozen entree segments of the Southwestern/Mexi food market, While the chili obviously competes as a stand-alone product, its exceptional quali ican complement such dishes as burritos, nachos, and enchiladas and can be readily used a smothering sauce fe ©, oF potatoes. This flexibility of use is relatively rare in the prepared food marketplace. With Howlin’ Coyote®, Pantdise Kitchens is broadening the position of frozen chili ina way that can lead to impressive market share for the new product category. ‘The Company now uscs a single outside producer with whi works closely to maintain the consistently high quality required in its products. The greater volume has increased production efficiencies, resulting in a stcady decrease in the cast of goods sold, This “introductory over view” sentence tells the -r the topics covered in the section—in this case customer characteristics and health and nutrition concerns, While this sentence may be omitted in short memos or plans, it helps readers see where the text is leading, These sentences are used throughout this plan. read The highertevel “A heading” of Customer Analysis has a more dom- inant typeface and position than the lowerlevel"B | heading” of Customer Characteristics, These headings introduce the reader to the sequence and level of topics covered. providing genuine value to them is why organizations exist ina market economy, | ‘This section addresses the question of*Who are the ‘customers for Paradise Kitchens’ products?” | Satisfying customers and }

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