8.4 Developing The Strategic Marketing Plan

The strategic marketing plan process classically has three phases:

Market Segmentation

			Geographic
			Demographic
			Psychographic
			Behaviour

Market Segment Profiling

			Revenue potential
			Market share potential
			Profitability potential

Developing a market segment marketing strategy

Market leader or product line extension

8.4 Developing The Strategic Marketing Plan

			Mass marketing or targeted marketing
			Direct or indirect sales

Subsequent to analyzing market segments, the strategic marketing plan follows. The strategic marketing plan document typically comprises of the following:

Situational Analysis - Where is the company now?

			Market Characteristics
			Key Success Factors
			Competition and Product Comparisons
			Technology Considerations
			Legal Environment
			Social Environment
			Problems and Opportunities

8.4 Developing The Strategic Marketing Plan

Marketing Objectives - Where does management want the company to go?

			Product Profile
			Target Market
			Target Volume in Dollars and/or Units

Marketing Strategies - What should the company do to achieve its objectives?

			Product Strategy
			Pricing Strategy
			Promotion Strategy
			Distribution Strategy
			Marketing Strategy Projection