Chapter 2: developing marketing strategies and market plan

• A market plan is a comprehensive blueprint which outlines an organization's overall marketing efforts 
• Step 1: Buisness mission and objectives 
• Step 2: situation analysis 
•  Step 3 : Identify oppurtunities 
• segmentation 
• targeting 
• positioning 
• Step 4 : implement marketing mix 
• culture - 
• product 
• price 
• place 
• promotion 
• Step 5 : evaluate performance using marketing metrics 
• Buisness mission and objectives 
• a mission statement is a broad description of a firm's objectives and the scope of activities it plans to undertake 
• Nike's mission statement " To bring inspiration an innovation to every athlete in the world" - BIll Bowerman 
• Google " To organize the world's information and make it universally accessible and useful" \
• Apple - " To make a contribution to the world by making tools for the mind that advance humankind' 
•  macro  (marketing) environments 
• culture - country v regional 
• norms jargan 
• political/ legal 
• political climate 
• laws / regulations 
• e.g FDA, FCC, SEC 
•  economic 
• economys performane 
• interest rates 
• inflation rates 
• consumer disposable income
• consumer demand and spending 
• business lifestyle 
• Technology 
• new products 
• new forms of communication 
• new retail channels 
• social 
• trends shaping values and shopping behavior 
• health conscious 
• green 
• thrifty 
• privacy concerns time-poor society 
• demographics 
• age gender roles 
• income distribution 
• education 
• ethnicity 
• geographic description