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      • Market Opportunity Assessment: Why You Need One & 5 Key Steps
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      • Yes, You Do Have the Budget
      • Enrollment Opportunity: Under-served Segments
      • Why Colleges Are Failing to Achieve Adult Enrollment Goals
      • 01
      • 02
        • Are You Sitting Around Waiting for Business?
        • Get More Our of Your CRM Investment
        • Tips for Building Affordable, Effective Marketing Research Program
        • Smart College Recruitment Targets Wisely Using Segmentation
      • 03
        • Marketer's Toolkit Goes Mobile
        • A/B Testing: Some Important Rules to Follow
        • Targeting is Not Rocket Science
        • Snap Chat for Student Recruitment
        • Colleges Must Lead the Way in Marketing to Millennials
        • How Many Leads Do You Need?
        • Do You Know What a "Lead" Is?
        • Do You Know How Many Sales Leads You Need? Find Out With...
        • Content Marketing: It's a Mess
      • 04
        • What Is The Best Marketing Channel?
        • Do You Need a Marketing Plan?
        • Data Analytics Improve Enrollment Performance
        • Why Facilitated Strategic Planning Workshops are Most Effective for Your College...
        • Common Social Media Challenges and Solutions
        • 8 1/2 Common Errors in the Student Recruitment Process
      • 05
        • Differentiation - Colleges Need to Be Uniquely Valuable
        • Non-Traditional Students: Tips to Attract & Retain
        • Market Planning Process
        • Market Analysis - Identify Your Target Markets
        • Catalog Business Plan
        • 10 Common Digital Marketing Mistakes & Solutions
        • Tips for Recruiting Millennials to Your College
        • How to Lower New Student Acquisition Costs
      • 06
        • Your Website Needs Help
        • Better Adwords Performance ASAP
        • Higher Education Marketing Assessment Tool: A Demo
        • Join Marketing Connection Today
        • Marketers Are Focused On the Wrong Things
        • Marketing...It's About the Numbers
        • Colleges Without Market Research: Penny-Wise, Pound Foolish
        • Top Benefits You Enjoy From a Mystery Shopper Audit
      • 07
        • The Future of Content Marketing
        • Pokemon Go: Student Recruitment & Retention?
        • Whatever the Channel: Marketing Success Depends on 5 Factors
        • When Your Customers Aren't Your Customers - Social Media Pitfalls
        • Content Marketing Success
        • Why You Can't Afford to Pass on a Retention Audit
      • 08
        • Your Trouble With Adwords
        • You Can't Recruit & Retain if You Don't Know Your Audience
        • Facebook Live for Student Recruitment
        • How to Make Significant Improvements to Student Recruitment Results
      • 09
        • Why Facilitated Strategic Planning Workshops are Most Effective for Your College...
        • Video Marketing: Tips for Greater Success
        • The Details Are in the Plans
        • Digital Metrics: How Much is Real & How Much is Bullshit?
        • Video Content Marketing: Tips for Greater Success
      • 10
        • How You Can Enroll More Non-Traditional Students
        • Your Email Metrics Are Wrong
        • Too Much Content Too Much Waste
        • How Asking the Right Questions Can Increase Enrollments
        • Content Marketing for Higher Education Recruitment and Retention
      • 11
        • 5 Ways to Increase Graduate School Enrollments by Leveraging Data
        • Big Data, Predictive Analytics & Marketing Research Strike Out in Election 2016
      • 12
      • Direct Marketing Planning
      • How Many Leads Do Our Sales Executives Need?
      • The Drones Are Coming!
      • Advantages of Direct Marketing
      • Student Retention Tips for 2016
      • Outbound Telemarketing Missing Opportunities As Part of College Student Recruitment
      • New Study Identifies Opportunities to Improve Student Recruitment
      • 6 Tips to Improve Your College's Content Marketing Performance
      • Lead Flow Planning - Getting It Right

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Archive

2019

  • May

Market Planning Process

May 11, 2016

A marketing plan is a map that guides an organization from Point A (its current state) to Point B (its desired state). That guidance comes from the marketing planning process, which answers four questions: where are you now; who do you want to be; what’s the best way to get there; and what do you need for the trip?  The market planning process of developing an actionable marketing plan begins with these essential steps, which every business should follow.market planning process

  • Step 1 – analyze opportunities and set objectives
    • The Four “Ps” — What do you have to offer, etc. …
    • S.W.O.T.
      • Firm’s internal strengths and weaknesses
      • Internal and external environmental factors impacting your business
      • Industry analysis — Where’s the industry going …
    • Set your marketing objectives.
  • Step 2 – define your target market(s)
    • Starting point – successful marketing plans begin with market focus.
    • Consider many segments, but select your primary target markets.
    • The target market defines the market need and product offering.
  • Step 3 – set your marketing strategies
    • Target market
    • Target market needs
    • Target market offering
  • Step 4 – set your marketing tactics
    • What are your going to offer the target market?
    • What and how are you going to tell the target market about this offer?
    • How are you going to distribute this offer to the target?
    • What will be your pricing strategy?
  • Step 5 – define your supporting marketing programs
    • Programs provide the specifics of implementation
  • Step 6 – implementation
    • The goal of planning is implementation.
    • The key to implementation is management.
    • To measure the success of a marketing plan, you need to be able to control and track the activities and results of those activities.

To find out more about the marketing management process and producing an actionable marketing plan, click here.



Tags: Marketing, Market Planning, Strategic Market Planning, Market Planning Process
Category: Marketing Planning

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Dudley Stevenson, founder and CEO of DWS Associates, has over thirty-five years’ experience in consumer marketing, business-to-business marketing, and direct marketing, including developing, planning, and implementing go-to-market strategies. He's also the author of "Marketing Direct: Breaking Through The Clutter." Working with organizations ranging from start-ups to Fortune 100 companies, he and his team have helped clients such as IBM, Sony, Neiman Marcus, Arizona Highways, Marshall Field & Co., Mrs. Field’s, UNICEF, and Patagonia implement successful direct marketing programs. A longtime member of the Direct Marketing Association and the American Marketing Association, Stevenson is also a sought-after speaker. He’s given hundreds of presentations and workshops on marketing and direct marketing. His “Marketing Planning 101” workshop alone has reached more than 100,000 marketing and sales professionals.


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