What is Corporate Marketing Planning?

By TrudyB, eHow Contributor updated: November 16, 2010
I want to do this!Communications expert James Gregory writes that perceptions held by an

organization's audiences, including investors, customers and prospective customers, have a growing influence over its success and survival. Managing those perceptions so they translate into profitability requires marketing. While product marketing promotes the company's services or products to spawn sales, corporate marketing focuses on its vision and mission to pursue growth.

Purpose
1. A corporate marketing plan establishes long-term priorities, provides overall direction and sets organizational objectives for the company's various business units. It identifies the markets to be served, the mix of product or services that will address the needs of those markets and the resources that will be allocated. According to the Marketing Plan Information Center, the corporate marketing plan guides management on mission fulfillment and charts the organization's course.

Focus
2. The American Marketing Association defines marketing planning as a process of preparation. Corporate marketing planning begins with a clear understanding of the corporate branding statement, which finds its roots in the vision statement. "Marketing Corporate Image: The Company as Your Number One Product" notes that the corporate branding statement defines the organization, its beliefs and why they justify consumer trust.

Research
3. An essential step in corporate marketing planning consists of a "situation analysis"-research and critique of current audience perceptions and subsequent comparison with desired perceptions. Senior management takes an active role in the development of strategies to address negative observations and reinforce positive opinions unveiled by this study.

Elements
4. The tactics or actions used to implement the strategies can include internal and external approaches. Internally, a company may choose programs, newsletters and websites to influence employee opinions or draw employee support for new initiatives. "Corporate identity exercises" that enhance the logo, packaging, signage and other visual aspects of a company's public face represent an external tactic, according to brand management authority Paul Temporal. Other external tactics

Monitoring the corporate marketing plan's progress in molding consumer experience permits finetuning and corrective action. economic. Measurable objectives make it easier to create a targeted campaign that can be evaluated at a later date." progress reviews and adaptation to their findings characterize successful organizations. With sufficient information about the market and its needs. weaknesses. As researchers from Bain & Company write in Harvard Business School's "Working Knowledge. philanthropic endeavors and sponsorships. An essential part of the strategic marketing planning process is taking a look at the marketing environment. companies cannot develop objectives or implement any plans. according to strategic marketing expert Geoff Lancaster. Some examples include increasing sales by a given percentage.related to corporate branding include a corporate advertising campaign. increasing orders by a specific number. or even receiving a specific amount of hits on a dedicated website. community events. . political and legal environments should be examined. Understanding the environment gives companies a clear outlook on who their target market is and what that market's buying behavior is. past activities and even financial statements may be reviewed. Tactical marketing planning involves taking the information gathered through strategic marketing planning and beginning to implement and evaluate the results of a campaign. opportunities and threats. social. Increased internal confidence in the direction the organization takes and affirmation of how it presents itself externally develop from the corporate marketing planning process. where and why these consumers buy. A company's goals. Competitive. what. Environment 1. Objectives and Strategies 3. Without this information. Through this process. Information is collected on how. It involves determining what the target market wants and the types of messages that resonate with that audience. companies develop a list strengths. Considerations 5. companies are able to develop measurable marketing objectives as a part of their strategic marketing planning. when. Target Market 2. Strategic marketing planning is the process of researching a market and its environment to determine the target market. A successful marketing campaign must incorporate both strategic and tactical marketing planning.

PEST Analysis PEST is a strategic planning tool used to evaluate the impact political. hosting an event. The PEST analysis is an important part of the project planning process: y y y y Political factors include areas such as tax policy. employment laws. The design of appropriate messages to disseminate is another component of strategic marketing planning. social. technology incentives and the rate of technological change. Beyond attracting new customers. automation. focused messages they can use to attract potential customers. Examples are creating a website. generate new customer leads. sending out direct-mail pieces. Technological factors look at elements such as R&D activity. Economic factors are economic growth. Implement 5. It involves an organisation considering the external environment before starting a project. Another aspect of tactile marketing planning is for a company to take its measurable marketing objectives and compare them to the actual results of its campaign. population growth rate. A part of tactile marketing planning is the actual implementation of marketing activities.Message 4. Learning the ins and outs of consumer buying behavior for a given market provides companies an opportunity to develop clear. companies can also plan strategies for keeping the existing customer base. Social factors often look at the cultural aspects and include health consciousness. career attitudes and emphasis on safety. economic. participating in trade shows. age distribution. Evaluate 6. and technological factors might have on a project. . exchange rates and inflation rate. environmental regulations. and even using social networks such as Twitter and FaceBook to promote brands. The idea is to figure out where the successes and failures were so that it can test marketing messages and tactics appropriately for future campaigns. trade restrictions and tariffs and political stability. placing radio advertisements. interest rates. sending press releases.

Provides an understanding of the wider business environment. Can help an organisation to spot opportunities and exploit them. Can help an organisation to anticipate future difficulties and take action to avoid or minimise their effect. May raise awareness of threats to a project. Encourages the development of strategic thinking.The following grid can be used to record each factor: State Project Objective: Political Political stability Tax law Employment law Trade restrictions and tariffs Environmental regulations Social Technological Economic State of the economy Interest rates Exchange rates Inflation rate Role of men and women in society Rate of technological change Division of wealth in society Health and safety Population growth rate Automation Innovation Recent technological developments Advantages of PEST y y y y y y Simple and only costs time to do. .

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