The Marketing Plan Chapter 12

The Marketing Mix -marketing tool to satisfy customers and companies objectives-choices to bring the product or service to market

MAGIC
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Marketing Objective = A goal that can be achieved within a set and expected time frame with resources -explains eh goal

Strategy = Draws from market research and includes the product mix plan to achieve maximum profit potential -explains the plan of how the goal will be met

Tactic = The advantageous action to meet the goals of a plan .It explains what detailed activities will achieve the goal.

Example: Beauty & France industry

  • Objective - Increase sales by 20% for ending in April (second quarter)
  • Strategy - Social Media Partnership
  • Tactic - Implement a free sampling program exclusively for industry bloggers
  • Detail - Work with social media beauty bloggers.Offer an opt-in "brand expert" membership that includes ongoing product samples and a buzz blog members will also receive a limited-time ,nominal discount on a single purchase to boost sales on full-sized product during the second quarter. The viral power of social media will induce sale from the blogger's community of followers.

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