This book provides students of marketing with everything they need to understand and prepare a comprehensive marketing plan. Written in Dr. Wongs vivid and interesting style, and furnished with examples for new products and services, this book helps students to demystify the ingredients of an approved marketing plan.
Advance Praise for Approved Marketing Plans for New Products and Services
Dr. Ken Wongs latest work exemplifies the unassuming and straightforward style he is so famous for. Ken has obviously worked very hard to make things easy for the reader. The work is a step-by-step, logical, detailed and multi-faceted approach to writing the all-important Marketing plan.
Maurice Williams, PMC, Former Chief Marketing Officer, SingPost, Singapore
This book helps people to prepare the blueprint of a marketing plan. I learnt a lot from this book and this is a must read for anyone who wants to successfully plan for marketing their products or services. Thanks Professor Ken Wong for bringing out such an excellent textbook.
Rajen Kumar Shah, Chartered Accountant, DISA, Aditya Birla Group, India
Table of Content
Foreword.............................................................................................................................................................................................. vii
Preface...................................................................................................................................................................................................... 8
Acknowledgement............................................................................................................................................................................ 2
Chapter 1 - Introduction....................................................................................................... 4
Marketing Plan vs. Business Plan........................................................................................................................................... 4
10 Principles of Marketing Planning.................................................................................................................................... 4
Recipe for Writing a Strategic Marketing Plan.............................................................................................................. 5
Chapter 2 - The 12-section Marketing Plan.......................................................................... 7
Section (1): Executive Summary............................................................................................................................................. 7
Section (2): Introduction.............................................................................................................................................................. 7
Section (3): Situational Analysis............................................................................................................................................. 8
Section (4): Target Market....................................................................................................................................................... 10
Section (5): Competitive Analysis....................................................................................................................................... 10
Section (6): Financial Analysis.............................................................................................................................................. 11
Section (7): Product Strategy................................................................................................................................................. 12
Section (8): Pricing Strategy................................................................................................................................................... 13
Section (9): Integrated Marketing Communications Strategy......................................................................... 14
Section (10): Channels of Distribution Strategy........................................................................................................ 16
Section (11): Resource Allocation and Monitoring................................................................................................. 17
Section (12): Conclusion........................................................................................................................................................... 19
Chapter 3 - Advanced Analytical Tools............................................................................... 21
Marketing Audit.............................................................................................................................................................................. 21
Gap Analysis....................................................................................................................................................................................... 22
Porter's 5 Forces model............................................................................................................................................................. 23
Porter's Generic Competitive Matrix................................................................................................................................ 23
PEST Model......................................................................................................................................................................................... 24
Key Success Factors (KSFs) Matrix.................................................................................................................................... 25
Boston Consulting Group (BCG) Matrix.......................................................................................................................... 26
Directional Policy Matrix (DPM).......................................................................................................................................... 27
Ansoff Matrix..................................................................................................................................................................................... 29
Blue Ocean Strategy...................................................................................................................................................................... 30
Chapter 4 - Marketing Plan Example - Consumer Services............................................... 31
Restaurant........................................................................................................................................................................................... 31
Supermarket Chain....................................................................................................................................................................... 49
Transportation Service............................................................................................................................................................... 66
Chapter 5 - Marketing Plan Example - Consumer Products.............................................. 75
Smartphone........................................................................................................................................................................................ 75
Health Care Product..................................................................................................................................................................... 88
Outdoor Lighting............................................................................................................................................................................ 98
Chapter 6 - Marketing Plan Example - Business Services................................................ 109
Financial Consulting Service................................................................................................................................................ 109
Web Consulting Service.......................................................................................................................................................... 123
Chapter 7 - Marketing Plan Example - Business Products............................................... 136
Software Company (Telecom)............................................................................................................................................ 136
High Technology Manufacturing (Telecom)............................................................................................................. 148
High Technology Manufacturing (Supermarket).................................................................................................. 161
Epilogue............................................................................................................................. 176
References......................................................................................................................... 177
Index.................................................................................................................................. 178