GOLDEN GATE COLLEGES

Senior High School Department

Lesson Marketing Plan in Business

8

INTRODUCTION:
The marketing process involves activities undertaken to identify business opportunities,
select target markets, develop the marketing mix to address the needs and wants of the target
market, and implement strategies to guide and manage marketing offers.

LESSON AND COVERAGE:

In this lesson, you will learn the following:
 Explain the relationship between market analysis, planning, implementation, and
control
 Analyze the company’s situation, markets and environment (the marketing audit and
SWOT analysis)
 Integrate the marketing concepts and techniques learned by preparing a marketing
plan
 Present a mini-marketing plan, orally and in writing

DEVELOPMENT:
The Marketing Process

A. Market Analysis
The firm analyzes the business environment and identifies opportunities to satisfy unfulfilled
customer needs the firm also looks into its capabilities to address the needs of the market as
well as other challenges in the business environment.

B. Marketing Planning
Strategies are identified to pursue marketing opportunities; the firm selects a specific market,
develops the marketing mix, and positions the product or service within the market.

C. Marketing Control
Marketing efforts are monitored and adjustments are made in reaction to changes in the
market; the firm aims to consistently meet the needs of its customers over the long term.

I. Market Analysis

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 The first step in the marketing process is market analysis. It is done to determine the
attractiveness of the market, formulate marketing strategies, and make business decisions.
The following are the aspects considered in conducting market analysis:
1. Market size is determined by sales volume and is used to find out the profitability of the
market.
2. Market trends focus on price and spending patterns.
3. Cost structure determines and evaluates the resources needed to create a product or
provide a service.
4. Distribution channels take into account existing and new channels
5. Technology and resources involve an analysis of their impact on production as well as
other aspects of marketing.

Apart from determining the viability of potential markets, market analysis also lets
marketers analyze the capabilities of the company in relation to the business environment.
SWOT Analysis is an important tool in conducting environmental analysis. This takes into
consideration the internal and external forces which influence the market and the
performance of the company The following are the major aspects of SWOT Analysis:
1. Strengths refer to the company's competencies and competitive advantages that give it an
edge over the competition
2. Weaknesses pertain to the company's limitations in developing and implementing
marketing strategies.
3. Opportunities are market conditions which give the company a chance to succeed should it
decide to exploit them.
4. Threats are hindrances that prevent the company from achieving its goals.

II. Marketing Planning

 Marketing planning is the second step in the marketing process. This step requires the
application of the concept of target markets, marketing mix, and budgeting. The end
output of this step is the marketing plan. Formulating a marketing plan helps a company
effectively develop, market, and sell a product to its target consumers.

THE MARKETING PLAN

The marketing plan is a document that guides a company in developing and marketing a
product or service. It provides detailed strategies on successfully marketing a product and
earn a projected amount of return from the effort. A comprehensive marketing plan considers
important elements such as distribution costs, production costs, advertising expenses, and any
expenses related to identifying and marketing the product to the consumers in the targeted
markets. It may focus on strategies over a twelve-month period, the next calendar year, or a
span of three to five years. The marketing plan generally contains the following components:
 the marketing strategy which discusses the target market, its segments, and the
marketing mix that will satisfy their needs;

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 the financial objectives which may be linked to profit and sales; and
 the action plan which states the specific and short-term tactics or tasks to be achieved in
marketing the product or service.

The Marketing Strategy

The marketing strategy explains how the company will identify and cater to its target
market. Companies must make sure that the target market is sufficiently large to provide
enough profit. If the company spent millions of pesos in creating a product, it must focus on
a national target market instead of a specific local community or city alone. The company
must also check if the target market fits its nature and basic mission. For example, if a
company is focused on child care, the target market can be mothers, parents, and children
themselves.
The marketing strategy must also discuss how the target market will be divided into its
segments. These segments are smaller groups whose members share certain interests and
preferences. By incorporating market segmentation in the marketing strategy, companies
cater to more specific audiences. This will, in turn, make product development and other
marketing actions more focused.
Finally, the marketing strategy must discuss how the product or service will be positioned
positively in the consumers' minds. This positioning may be based on various factors,
including affordability and functionality. Positive positioning allows a company to show its
value to customers. Customers will see that buying a product or service will be worth their
money, and they will continue purchasing it.

The Marketing Mix

To come up with an effective marketing strategy, companies also need to develop the
ideal marketing mix of the four elements-product, price, place or distribution, and promotion.
Companies can enhance the product component by focusing on its features and benefits.
The price component can be improved by matching the price with the product's quality.
Companies may also look into how the pricing fits the current status of the product in the
market. Companies may examine the place component by determining where, when, and
how the product will be sold. Finally, the promotion component can be developed by
determining how the product or service will be publicized.

The Financial Objectives

The financial objectives mainly state the company's target profit growth in the long run.
The financial objectives may also incorporate the company's targeted growth in sales and
return on Investment, or the rate at which the company obtains enough profit with respect to
the incurred costs in product development. Like the other objectives of marketers, financial
objectives must also be quantifiable, specific, and achievable within the means and resources
of the company They must also be set within a specific time period, and pertain to a
particular result (e.g., the objective of achieving a 25% return on investment).

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The Action Plan

The action plan (also called tactics) outlines the actual strategies and steps to be taken in
developing and marketing the product. The company must consider if these strategies will be
performed on a daily, monthly, or quarterly basis. The action plan incorporates following
aspects:

The target market. The company must come up with strategies to find out the preferences
of customers, either by conducting surveys or creating questionnaires.
1. Product. The company needs to ensure that products are of high quality and developed
effectively. Experts can provide inputs in product development
2. Price. The company must ensure that customers do not find the product either highly
expensive or inappropriately priced. A reasonable price gives the impression that the product
is of good quality and may encourage customers to purchase it.
3. Place. The company must ensure the availability of their products by constantly
communicating with retailers and wholesalers.
4. Promotion Company must include strategies on how to introduce the product to the target
customers and persuade them to buy it. These strategies may include discount promos, and
publicity through media and the internet.

Budget and finances. The company must also think of ways to use its finances wisely. It
should be enough to maximize the potential of the product, but not to the point of incurring
losses. A helpful way to do this is to list down all of the expenses for marketing the product,
down to the last details. If applicable, the budget and finances for developing and marketing
a product can be integrated in the discussion of the other aspects.

The following is a sample action plan for a hypothetical barbecue business that integrates the
aspects discussed.
1. The Target Market
The company will cater to customers in the local community who are looking for
delicious and affordable barbecue meals. Survey forms will be provided to potential as well
as current customers. The customers' preferences in taste and ingredients of barbecue meals
will be asked Questions will also be asked about combining barbecue with other meals and
food products. Finally, customer preferences in store locations and prices will also be
determined Food servers on duty will provide the survey forms to the customers.

Aside from surveys, guards on duty will be asked to regularly track the customers who enter
the store.
Budget cost: P 200 for survey forms

2. Marketing Mix
a. Product

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The company will perform research on the most widely preferred flavors and ingredients
of barbecue products. It may also seek the help of culinary experts to develop barbecue meals
that customers will like. In addition, the company will negotiate with suppliers of food and
condiment materials to provide the necessary ingredients for developing the barbecue
products and meals. This process will take place for one to three months
Budget cost: P 6,000 for professional fee of the culinary expert

b. Price
The product will be priced similar to those of the competitors. Barbecue meals often cost
more than 100. This may serve as the benchmark of the prices for the planned barbecue
products and meals. These prices, however, may change when production and other costs
also increase.
Budget cost: None
c. Place
The barbecue restaurant is currently found near a large-scale mall at the center of the
community. In the future, other branches may also be built near churches, schools, and other
malls within the area. Budget cost: About P 6,000 for rental fees
d. Promotion
The product will be promoted through social media and a website. In addition, sales
promotions will also be made available. For example, the company will organize weekend
promos, where P1,000 worth of meals will entitle the customer to a dessert of his or her
choice. Customers can also get 5% discount for their purchases from 10:30 to 11:30 AM.
This will be known as the Happy Hour promo.
Budget cost: P999 for monthly Wi-Fi subscription
P35 for dessert per P1,000 bill
P300 for the Happy Hour Promo tarpaulin
P300 for the Weekend Promo tarpaulin

III. Marketing Implementation

 Marketing implementation is the process of executing marketing strategies through
specific actions which ensure that the marketing objectives of the company are
achieved. Effective implementation is vital to the success of the marketing plan.
Planning and implementation are interdependent processes and as such, the marketing
plan continually evolves based on the experiences and information gained from its
implementation.

Implementing the marketing plan entails the following steps:

1. Organizing the marketing unit. Businesses often have a marketing department which
takes charge of formulating and implementing marketing plans. It is important that the
members of the marketing unit are aware of their specific roles and responsibilities in relation
to the marketing strategies that will be implemented. Organizing the marketing unit also
requires establishing lines of authority and communication among personnel. To improve the

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performance of the marketing unit, many businesses utilize data collection and information
management software to improve information flow and gather customer data.
2. Motivating marketing personnel. This is done through internal marketing, which refers
to managerial actions that inform the members of the marketing unit about the goals of the
organization and convince them to accept and undertake their respective roles in
implementing the marketing plan. Well-motivated personnel contribute greatly to the success
of the implementation of marketing plans and strategies.
3. Communicating with management. Communication ensures coordination and synergy
with other departments of the business organization. All personnel must be aware of the
marketing goals so that their activities are consistent with them. Top management and other
departments must also be closely involved in planning and implementation to ensure that
plans and strategies do not conflict with operation procedures or guidelines of the company.
4. Defining the marketing budget. The marketing budget is an estimate of the costs
required to undertake marketing activities to promote the products and services of the
company. The budget defines the operational costs, organizational costs, staffing costs. and
capital costs required.
5. Coordinating marketing activities. Relationship between the internal staff and external
organizations such as advertising agencies, researchers, resellers, and shippers must be well
coordinated for a successful implementation of the marketing plan.
6. Establishing a timetable for implementation. The marketing timetable identifies the
specific activities to be implemented and determines the time required for each activity A
timetable allows marketers to organize marketing activities in their proper order by
identifying which activities should be implemented in a sequence and which can be done
simultaneously. The timetable also identifies the people or groups responsible for
undertaking specific activities. Coordination among personnel, departments, and other
organizations is vital to ensure that the timetable is adhered to and the activities are
implemented on schedule.

IV. Marketing Control

 Marketing control refers to strategies that help the business stay on track in the
implementation of the marketing plan and in the achievement of its goals. This
ensures that any problems or issues experienced in the implementation are
immediately addressed through corrective actions, and that effective strategies and
activities are supported by the company.
An important component of marketing control is the strategic performance evaluation which
is utilized to evaluate the effectivity of marketing strategies. The following are the
components of strategic performance evaluation
1. Establishing performance standards. The company sets expected standards of
performance against which the actual performance is compared. The standards are based on
the objectives of the marketing plan and define what the marketing strategies should
accomplish. These standards are defined in terms of sales, costs, and communication
dimensions such as brand awareness or product feature recall

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2. Analyzing actual performance. Actual performance can be evaluated through several

means. The company can compare the previous state of the market to the state of the market
during or after the implementation of the marketing strategy. Customer surveys and market
research can provide data on the implementation of the marketing plan. Most companies
analyze their performance through sales analysis and marketing cost analysis.
a. Sales analysis uses sales figures to evaluate the company's performance. The
frequency of sales transactions is determined as well as the market share of the company
compared to its competitors.
b. Marketing cost analysis determines the effectiveness of the marketing strategy by
comparing the sales achieved with the costs sustained.
3. Comparing actual performance with performance standards. The actual performance
is compared to the standards set to determine success or failure and identify problems with
implementation. If a strategy is deemed successful, marketers must study it closely to gain
information and insight which can be used to further improve market strategies.
If a strategy is ineffective, marketers must study the problem and determine appropriate
courses of action or corrective actions. Examples of corrective action include
a. altering or changing strategies to make it more effective,
b. acquiring additional resources and funding and
c. changing marketing objectives which have been found to be unrealistic.

Activity 1. Preparation of Marketing Plan

Instructions:
1. Form groups and gather the data needed to write your marketing plan. Be guided by the
marketing plan format.
2. Gather the information needed for your plan, compile the data from your research, and
begin writing your marketing plan.
3. Consult with your teacher throughout the development of your marketing plan.
 ENGAGEMENT
Activity 2. Presentation of the Marketing Plan
1. The teacher should be provided a copy of the marketing plan. Submission will be on
google classroom. Make it on a PDF format.
2. The marketing plan should be presented using a PowerPoint slide presentation.
3. The salient points of the plan should be presented.
4. Follow the prescribed format for the slide presentation. (Font size: 20-24. Font style:
Century Gothic)
5. The presentation should last for about 15 to 20 minutes.

Rubric of the Marketing Plan

The following rubric will be used to grade the marketing plan and its presentation.

Group: _____________ Very Good Needs Ineffective Score

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Good 3 Improvement 1
4 2
1. General Market Situation
Analysis
2. Marketing Planning
3. Marketing Plan Control
4. Financial Projections
5. PowerPoint Presentation
6. Presenter Delivery
Members:

Total:

ASSIMILATION
Activity 3.
1. Did you find the task of making and presenting a marketing plan easy or difficult? Why?
2. Do you believe that your company will benefit from your marketing plan? Why?
3. What insights or realizations have you gained from the task? How will these help you
become a more effective marketing professional?

REFLECTION
Direction: Complete the table below to sum up and assess what you have learned in this
module.
Topics Things I learned

Question I want to be answered.

REFERENCES AND WEBSITE LINKS USED IN THIS LESSON:

Te, Danilo; Baltazar-Marte, Rodilina; Abrina, Donna Vida. (2018). Principles of Marketing for Senior High
School. Quezon City: C & E Publishing, Inc.

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GOLDEN GATE COLLEGES
Senior High School Department

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