+

Tourism Enterprises

http://flickr.com/photos/ahron/215288622/in/photostream

Marketing

PlanningHow to Develop a Practical Marketing Plan

Market PlanningMarket Planning

Planning for the future Planning for the future helps ensure there is onehelps ensure there is one

What every organisation What every organisation should be askingshould be asking

Where are we now?Where are we now? Where should we be or do Where should we be or do

we want to be?we want to be? How do we get thereHow do we get there

‘‘Why Plan?Why Plan?

Provides clear set of actionsProvides clear set of actions Helps establish prioritiesHelps establish priorities Action prompt for Action prompt for othersothers Sets measurable goalsSets measurable goals Helps with budgetingHelps with budgeting Sells new and innovative Sells new and innovative

productsproducts Gives the organisation continuityGives the organisation continuity Test against overall Test against overall

organisations strategyorganisations strategy Provides a sense of Provides a sense of controlcontrol

Key Key ElementsElements

1. Statement of Purpose1. Statement of Purpose

2. Situation Analysis2. Situation Analysis Organisations SituationOrganisations Situation Target MarketsTarget Markets Customer needs & wantsCustomer needs & wants Key factors for successKey factors for success Competitor AnalysisCompetitor Analysis Competitive AdvantageCompetitive Advantage TrendsTrends SWOTSWOT

3. Marketing & Organisations Objectives3. Marketing & Organisations Objectives

4. Overall Marketing Strategy4. Overall Marketing Strategy

5. Marketing Mix Tactics5. Marketing Mix Tactics ProductProduct PricePrice PromotionPromotion DistributionDistribution

6. Market Research Program6. Market Research Program

7. Financials7. Financials

8. Timing8. Timing

9. Measuring Results9. Measuring Results

10. Appendices10. Appendices

The Organisations The Organisations Reasons for beingReasons for being

General Statement about General Statement about the organisationthe organisation– What you doWhat you do– ““A is the B that does C for A is the B that does C for

you”you”– BENEFIT relatedBENEFIT related

The Warehouse - “Where The Warehouse - “Where Everyone Gets a Bargain”Everyone Gets a Bargain”

1. Statement of 1. Statement of PurposePurpose

““Where are we now?”Where are we now?”– The OrganisationThe Organisation– Target Markets (Segments)Target Markets (Segments)– Customers needs and wantsCustomers needs and wants– Key factors for successKey factors for success– Competitor analysisCompetitor analysis– Market trendsMarket trends

SocialSocial EnvironmentalEnvironmental EconomicEconomic RegulatoryRegulatory

– SWOTSWOT Strengths & WeaknessesStrengths & Weaknesses Opportunities & ThreatsOpportunities & Threats AssumptionsAssumptions Key issuesKey issues

2. Situation 2. Situation AnalysisAnalysis

3. Objectives3. Objectives

12 months12 months 5 years (longer term)5 years (longer term)

Should be:Should be:– writtenwritten– specificspecific– time boundedtime bounded– measurablemeasurable– believable and achievablebelievable and achievable

Shorter term objectives Shorter term objectives should dovetail into should dovetail into longer term objectiveslonger term objectives

4. Marketing 4. Marketing Strategy/iesStrategy/ies How will we get there How will we get there generallygenerally

– Product strategies eg.Product strategies eg.new markets/segments for existing productsnew markets/segments for existing products– core businesscore business– new products for existing marketnew products for existing market– totally new producttotally new product

– Product mix strategies eg.Product mix strategies eg.– products/services that always sell wellproducts/services that always sell well– products or services that are currently products or services that are currently

experiencing high uptakeexperiencing high uptake– Products or services where demand has goneProducts or services where demand has gone

– Positioning Strategy eg. pricePositioning Strategy eg. price– cheapestcheapest– most expensivemost expensive– best value for moneybest value for money– middle of the roadmiddle of the road

– CompetitiveCompetitive– Cost leadershipCost leadership– focusfocus– differentiationdifferentiation

5. Tactics5. Tactics ““How will we get there How will we get there

specificallyspecifically””

– ProductProduct– PricePrice– PromotionPromotion

– Advertising (include Internet)Advertising (include Internet)– Direct marketing eg. mail orderDirect marketing eg. mail order– Sales PromotionSales Promotion– Personal SellingPersonal Selling– PublicityPublicity– PR (incl. Sponsorship)PR (incl. Sponsorship)

MessageMessage MediaMedia

– (Place) Distribution(Place) Distribution

6. Market Research6. Market Research ““What information do we What information do we

need?”need?” – Customer FeedbackCustomer Feedback

awarenessawareness satisfactionsatisfaction

– Your own organisations Your own organisations performanceperformance KPIKPI

– The MarketThe Market PrimaryPrimary SecondarySecondary

Research ContinuallyResearch Continually Make use of 3rd party Make use of 3rd party

researchresearch Research is time & money Research is time & money

well spent!well spent!

7. Financials7. Financials

Marketing BudgetMarketing Budget3% - 6% of turnover3% - 6% of turnover AdvertisingAdvertising 50%50% Publicity (‘free’ media)Publicity (‘free’ media) 5%5% PRPR 5%5% PromotionsPromotions 40%40%

Previous P & L statementsPrevious P & L statements Member/Sales forecastMember/Sales forecast Cash flow forecast/sCash flow forecast/s Projected P & LProjected P & L Capital expenditure forecastCapital expenditure forecast

Consider alternative scenarios Consider alternative scenarios eg. optimistic, pessimistic, eg. optimistic, pessimistic, realisticrealistic

8. Timing8. Timing

Plan your activities well in Plan your activities well in advanceadvance

Always look several months Always look several months ahead and refine/update as ahead and refine/update as you go. Do NOT leave you go. Do NOT leave things until the last minute!things until the last minute!

Assign responsibilitiesAssign responsibilities Time your spending (cash Time your spending (cash

flow)flow) Plan for capacity vs salesPlan for capacity vs sales

– graphgraph– consider whether it is cost consider whether it is cost

effective to target down-effective to target down-timestimes

9. Measuring 9. Measuring ResultsResults““How will we know if we How will we know if we

got there, and if not, got there, and if not, why not?” why not?”

Record feedbackRecord feedback– ‘‘Code’ advertsCode’ adverts– Record where people heard Record where people heard

about youabout you questionnairequestionnaire phonephone

– encourage feedbackencourage feedback Measure cost-effectivenessMeasure cost-effectiveness

– consider flow-on effectconsider flow-on effect

10. Appendices10. Appendices

Income statementIncome statement Member number growthMember number growth Advertising copyAdvertising copy Manufacturing/supply cost Manufacturing/supply cost

estimatesestimates Legal approvals (eg. Legal approvals (eg.

copyright)copyright)

TipsTips Be realisticBe realistic Be consistentBe consistent Be relevantBe relevant Involve all your staff and Involve all your staff and

members (and even some members (and even some of your best customers!)of your best customers!)

Be flexibleBe flexible Read widelyRead widely Be ‘objectives-specific’Be ‘objectives-specific’ Use as ‘work-in progress’Use as ‘work-in progress’