Exam 3 Marketing Plan

chapter 8-

inbound

inputs needed for creating the goods and service

outbound

making the product or service available

product

phyiscal items such as raw materials and finished goods

the value chain

a series of interrelated, value-added functions

data

information such as the number of items ordered, customer requirements, and feedback

money

refers to the payment for the supplies, reseller or customer payments for finished goods, and other money movements between participants

flows in the value chain

products, data, and money

channel levels

zero-level, one-level, and multiple level

zero-level

direct linking of the seller to the buyer

one-level

the seller works with a single type of intermediary

multiple-level

the seller works with two or three levels of distribution partners

multichannel marketing

emphasis on providing a range of choices for customers who buy through different channels at different times or for different reasons

intensive distribution

in many outlets for maximum market coverage

selective distribution

in a number of selected outlets

exclusive distribution

in few outlets for exclusivity within each market

marketers balancing act

being responsive to customers’ needs while still meeting internal financial targets

buzz marketing

when the company seeks to generate a more intense word of mouth, it may provide communicators with samples or coupos

advertising

efficiently get messages to large audience

sales promotion

stimulate immediate purchase, reward repeat purchases, motivate sales personnel

public relations

build positive image, strengthen ties with stakeholders

direct marketing

reach targeted audeinces, encourage direct repsonse

personal selling

reach customers one-to-one to make sales, strenghten relationship

pre-testing

To find out if the target audience understands the message and retains information.

post-implementation

To determine whether or not the marketing communications program has achieved its objectives and which elements of the plan were particularly effective.

rational

using facts and logic to stimulate a response

emotional

evoking feelings to stimulate a response

consumer promotions

targeting end consumers

trade promotions

targeting channel memebers and salespeople

sales promotions

influences customer behavior by reducing perceived price or enhancing perceived value for a limited time

public relations purpose

metrics

track sales over time

forecasts

future sales and costs

budgets

allocating financial resources

schedules

time-defined plans for completing a series of tasks or activties related to a specific program or objective

marketing dashboards

computerized, graphical presentation of metric measurements; helps managers see the situation at a glance, based upon a limited number of data inputs

identifying metrics

looking for key components or activities related to customer buying behavior

budgeting policies

specify profit hurdles, adjusting budgets monthly instead of annually, follow internal financial calenders

affordability budget

budgeting what you believe you can afford

controlling marketing plan implementation

four types to help marketers gauge the effectiveness of the plan implantation; annual plan, profability, productivty, and strategic control

objective and task budgeting

adding up the cost of completing all of the amrkering tasks needed to achieve marketing plan objectives

annual plan control

marketing plans are generally developed every year

profability control

assess the organizationals

contingency plans

plans that organizations have ready to implement if their original strategies are disrupted by significant, unexpected changes, like computer system outages