Professional Documents
Culture Documents
Marketing Plan: Authors: Prof. Keegan, Prof. Malcolm
Marketing Plan: Authors: Prof. Keegan, Prof. Malcolm
Marketing Plan
Presenters: M. Azadi
M. Tabatabaei
Objectives
Marketing planning Tactical and Strategic Marketing Plans Marketing planning process Marketing audits Corporate Planning Assumptions Marketing Objectives Marketing Strategy Marketing Program Mission statements
Marketing Planning
Marketing Planning
Strengths of organization
Weakness of organization
Market Needs
Wants Existing competitors
Expected competitors
4.
5.
Performing a situation analysis Formulating basic assumptions Setting objectives for what is being sold and to whom Deciding how the objectives are to be achieved Scheduling and costing out the actions necessary for implementation
Our Challenge
We should manage:
Revenue
Profit
Return on investment
Optimization
Cost
5.
6. 7. 8. 9.
To help identify sources of competitive advantage To force an organized approach To develop specificity To ensure consistent relationships To inform everyone in the organization about priorities To obtain resources needed to implement plans To engage organizational support at all levels, form the bottom to the top of the organization To set objectives and strategies To gain commitment towards goals
7. 8.
Stepping back form the day to day Ideas and thought Activity/Action Setting Objectives and goals Important decisions and choices Significant commitment of resources Not easily reversible Involves choice/tradeoffs
9.
10. 11. 12. 13. 14. 15. 16. 17.
Differentiation Insight Vision Defines the business we are in Defines the business we are becoming Value Tradeoffs Objectives and goals Strategy Vs. Tactics
Strategic Plan
Definition: A clear and simple summary of Key market trends, Key target segments, The value required by each segment, How the company intends to create value, With a clear prioritization of marketing objectives and strategies, together with financial consequences.
Strategy
Strategy describes: The direction a business will pursue and guides the allocation of resources and effort The business we are in and becoming. And provides: The logic that integrates the Perspectives of functional departments and operating units and points them all in the same direction.
Strategy Statement
1.
2.
3.
The strategy statement for a business unit is composed of the following three elements: A business definition that specifies the area in which the business will compete. A strategic thrust that describes where competitive advantage is to be gained. Supportive functional strategies.
Marketing Strategy
Definition: It is a statement of how a brand or product line will achieve its objectives It Provides decisions and direction regarding variables such as:
Segmentation of the market, Identification of the target market, Positioning, Marketing Mix elements expenditures.
and
Middle Management
Operations
Middle Management
Operations
2.
1. Mission
2. Corporate objectives 3. Marketing audit 4.SWOT analysis 5. Assumptions
Phase Four9. Budget Resources allocation and 10. First year detailed implementation program monitoring
Critical Factors
Delegation
When companies delegate marketing planning to planner, the plan invariably fails, because planning for line management cannot be delegated to a third party.
Commitment
Without it, those charged with introducing the planning found that there was great resistance to planning on the part of local managers.
Marketing Audit I
Marketing audit is a comprehensive, systematic, independent, and periodic examination of a companysor business unitsmarketing environment, objectives, strategies, and activities with a view to determining problem areas and opportunities and recommending a plan of action to improve the companys marketing performance Philip Kotler
Marketing Audit II
Goal: To see how well the firm is applying the marketing concepts 1. Examine external and internal information and procedures 2. Identify problems in the environment
Marketing Audit IV
External Audit -By independent experts -Starts with an examination of information on the general economy and then moves on to the outlook for the health and growth of the markets served by the company.
Internal Audit -By members of the marketing organization -To assess the resources of the organization as they relate to the environment and the resources of Competitors
Marketing Audit V
Marketing Audit VI
External Consultants
Every company is at risk of becoming blinded to reality by the influence of company culture
Auditing Process
1.
2.
Identification, measurement, collection, and analysis of all facts and opinions that affect a companys problem The application of judgment to uncertain areas that remain after the initial analysis
Marketing environment audit Marketing strategy audit Marketing organization audit Marketing system audit Marketing productivity audit Marketing function audit Marketing excellence review Ethical and social responsibility review
SWOT Analysis
SO
WO
ST
WT
Weakness
Corporate Planning
Step 1: Corporate Financial Objective Step 2: Manageme nt Audit Step 3: Objective and Strategy Setting Step 4: Plans Step 5: Corporate Plans
Targeted Marketing Marketing Marketing Growth in Distribution Distribution Distribution Sales and Manufacturi Manufacturi Manufacturi earnings ng ng ng Financial Financial Financial Personnel Personnel Personnel
3.
The desire level of profitability Business boundaries What Kinds of products will be sold to what kinds of market (Marketing) What Kinds of facilities will be developed (Production and distribution) The size and character of the labor force (Personnel) Funding (Finance) Technology to be developed (Research and development) Other corporate objectives Social Responsibility and corporate Stock-market Employer image
Assumptions
This is one of the most critical steps in the preparation of a marketing plan because it is the easiest step to do carelessly. They should be:
Key, Critical and few in Number Consistent with relevant known facts With defensible assumptions
Examples:
Industrial overcapacity will increase from 105 percent to 115 percent as new plants come into operation. Price competition will force price levels down by 10 percent across the board. A new product that competes with ours will be introduced by our major competitor before the end of the second quarter.
New Markets
2. Market Development
4. Diversification
Place
Convenience
Price
Promotion
Customer Cost
Communication
To justify all marketing expenditures from a zero base each year against the task that you wish to accomplish.
Mission Statements
It is one of the most difficult aspects of marketing planning to master, largely because it is philosophical and qualitative in nature.
1. Role or Contribution
Key points:
2. 3. 4. 5.
Business definition Core Competencies Company/Division Positioning Indications for the future
Motherhood It found in annual reports designed to stroke shareholders/Non Practical Use The Real Thing Meaningful Statement/impact on the behavior of the executives at all levels. Purpose Statement Lower-Level mission statement/Appropriate on the strategic business unit, departmental or product group level of the organization.
Last Word
There is no secret magic or a formula. It is more of an age-old adage that harder they work, the luckier they get. It is not necessary to be a mighty corporation to do all this and a company of any size should be able to do so and succeed.