The Marketing Plan This page intentionally left blank William M. Luther American Management Association New York • Atlanta • Brussels • Chicago • Mexico City • San Francisco Shanghai • Tokyo • Toronto • Washington, D.C. Marketing Plan The How to Prepare and Implement It 4TH EDITION This publication is designed to provide accurate and authoritative infor - mation in regard to the subject matter covered. It is sold with the under- standing that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Library of Congress Cataloging-in-Publication Data Library of Congress Cataloging-in-Publication Data Luther, William M. The marketing plan : how to prepare and implement it / William M. Luther.—4th ed. p. cm. Includes bibliographical references and index. ISBN-13: 978-0-8144-1693-8 ISBN-10: 0-8144-1693-4 1. Marketing. I. Title. HF5415.L83 2011 658.8'02—dc22 2010039115 © 2011 William M. Luther. All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system, or transmitted in whole or in part, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Printing number 10 9 8 7 6 5 4 3 2 1 Bulk discounts available. For details visit: www.amacombooks.org/go/specialsales Or contact special sales: Phone: 800-250-5308 E-mail: specialsls@amanet.org View all the AMACOM titles at: www.amacombooks.org Openmirrors.com Complete your written marketing plan by the end of the book! The Marketing Plan 4th Edition How to Prepare and Implement It with “what if” software on the AMACOM website (www.amacombooks.org/go/MarketingPlan4). This page intentionally left blank To my wonderful wife, Betty This page intentionally left blank Acknowledgments xi Introduction 1 Chapter 1: The Planning Process 9 Chapter 2: Marketing Management 21 Chapter 3: Market Analysis 27 Chapter 4: Customer Analysis 55 Chapter 5: Brand Development 67 Chapter 6: The Product/Service Plan 73 Chapter 7: Calculating Your Marketing Communications Budget 101 Chapter 8: Competitive Analysis 109 Chapter 9: The Advertising Plan 117 Chapter 10: The Sales Promotion Plan 139 Chapter 11: The Public Relations Plan 153 Chapter 12: The Sales Plan: Pricing 163 Chapter 13: The Sales Plan: Future Sales 175 Chapter 14: The Customer Service Plan 197 Contents ix [...]... your strategic plan, go to my website (www.wml -marketing. com) and examine the software I have for sale Beyond the Strategic Plan After the strategic plan comes the business plan The strategic plan should project the company five to ten years into the future and the business plan executes the strategic plan in more detail for the first two or three years The business plan encompasses the entire business... all the files in the software you will download, let’s examine the components of a marketing plan as illustrated in Figure Introduction-1 Each of these plans is discussed in the book Figure Introduction-1 Components of a marketing plan Market A Sales Plan Product/ Service Plan Promotion Plan Internet Plan Customer Service Plan Research Plan Below is a list of the computer files as they pertain to the. .. Introduction 3 marketing plan, along with other useful worksheets If you complete each module as you go through the book, your plan will be written by the end of the last chapter The marketing plan belongs on the top of the desk of everyone involved with marketing so it can constantly be monitored; the fact book can go on their shelves If you began to miss an objective, you return to the fact book and make the. .. Marketing Plan belong in your marketing plan These are included as worksheets at the end of the appropriate chapters, and they are provided as Word files in the software package you have downloaded, in a folder called “Worksheets.” As mentioned in the Introduction, the fact book may number over a hundred pages while the marketing plan should be no longer than twenty That way you can keep your marketing plan. .. it until then I always told them to be effective in marketing, they would have to change their planning procedure In addition to your fact book and marketing plan, you need action plans Action plans provide the details of how you are going to execute your strategies and achieve your objectives Action plans should be written and monitored by the individuals responsible for their execution They, too,... monitoring your marketing plan Each of the “what if” files have several ranges and after you load a file, their names will appear on the drop-down menu on the left-hand side of the screen under the word “clipboard,” as shown in Figure Introduction-2 If they do not appear at first, click on the little down arrow about a third of the way down on the lefthand column When you click on one of the ranges, the computer... is the fact book that drives your marketing plan, just as the strategic plan drives which markets you should be participating in Most of the data you insert into the various software modules we provide belong in your fact book (you have downloaded them already, haven’t you?) The objectives and strategies you write for each marketing component, based on the data you insert into the fact book, 18 The Marketing. .. High-Potential Accounts Chapter 16: The Internet Plan Chapter 17: The Research Plan 203 237 249 Chapter 18: Pulling the Plan Together Appendix A: Marketing Plan Basics 257 263 Appendix B: Everything You Need to Know About Working with an Advertising Agency 275 Index 285 Marketing Plan “what if” software models are available free of charge at: www.amacombooks.org/go/MarketingPlan4 Acknowledgments This book... companies write their marketing plans—in boom economies and in bust The book walks you through every part of the plan, with detailed analysis of case histories After reviewing each case, you can insert on the accompanying software the data for your own company and complete your marketing objectives and strategies By the time you finish the book, you can have a complete, written marketing plan for your... your marketing plan on the top of your desk so you can monitor it weekly, with the fact book on your shelf for easy access and confirmation of your marketing plan Many times when I was asked to review a company’s marketing program, they would hand me a plan that numbered over a hundred pages They would have a couple of meetings preparing the plan and then put it on the shelf until the following year, . Introduction marketing plan, along with other useful worksheets. If you complete each module as you go through the book, your plan will be written by the end of the last chapter. The marketing plan belongs. High-Potential Accounts 203 Chapter 16: The Internet Plan 237 Chapter 17: The Research Plan 249 Chapter 18: Pulling the Plan Together 257 Appendix A: Marketing Plan Basics 263 Appendix B: Everything. specialsls@amanet.org View all the AMACOM titles at: www.amacombooks.org Openmirrors.com Complete your written marketing plan by the end of the book! The Marketing Plan 4th Edition How to Prepare