Developing a Marketing Plan

Developing or Implementing a Marketing Plan are you?

Marketing plans have to change over time. This is the nature of the economy and the business environment today. Mr. Beattie, the author of the article, assumes in the article that consumers are ultimately lazy- to the effect that they rely on marketers to reach them to tell them about the latest and greatest products. For businesses to succeed in marketing five key areas are analyzed.

Who is doing the buying of the product? A mother shopping for groceries for her family is certainly a different consumer than a college student shopping at the same retailer for a frozen pizza.

Next, the goal of every successful business is they understand what makes a consumer spend their hard-earned money. What triggers consumers to go to a store and purchase an item, is it a need or a want? Understanding these questions is key to a successful marketing campaign. Relating to our mother and college student example, who is involved in the purchase? For the mother, she is feeding her family. The article suggests at all times there is more than one person involved in the purchase of the item. So, looking at the college student buying a frozen pizza, lets take the small probability that he's going to eat the entire pizza alone. How did he get that money? Did his parents support him or did he have to work? If he's not going to share with him roommates, and assuming the laws of physics dictate he is physically incapable of finishing the entire pizza, who will get their hands on the left overs. There are always external variables and other people involved in a purchase.

It is so vital, especially for advertisers, to know where their customers are getting their information. Television commercials convince mothers (and females in general who are considered the primary grocery purchaser) what is healthy and what is nutritional and thus beneficial to feed their kids.

What is the timeline of the marketing plan? If it selling food products needs a quick sale and high volume and thus proactive marketing. Services may be long-term and can be established over time.

"I'm All Hopped-Up on Mountain Dew"

In conclusion, a marketing plan must be drawn up by a marketer who understands the customers, where they are getting their information, what triggers the purchase, the timeline for the marketing plan, and ultimately that many people are involved in a purchase even if one person buys the item. The marketing plan must be changing constantly over time.

Quick Review

Knowing where the target buyers get their information is one of the most important steps, especially for advertising. [True]

Which of the following is true of a marketing plan?

a. a marketing plan is always being reevaluated and changing

b. a marketing plan cannot be changed

c. a marketing plan is not useful to a business

d. if a business uses a marketing plan it will fail

[Answer: A]