Trinidad, Ernst Robin C.

Activity 10 Principles of
Marketing
BSOA 2-1 Prof. Angelou Francisco

1. What is the role of strategic planning?

2. What are the differences between strategic and tactical marketing plan?
3. What are the four corporate planning activities?
4. What are the four steps in strategic planning process?
5. What is the nature and contents of a marketing plan?

1. The role of strategic planning is to establish a plan of action in marketing. It

requires capabilities such as understanding, creating, delivering, capturing, and
sustaining customer value. Strategic planning has three key areas: First is
managing a company’s businesses as an investment portfolio, second is to
assess each business’s strength, third is to establish a strategy and apply it in the
long run.

2. Strategical marketing plan lays out the target market and the firm’s value
proposition, based on an analysis of the best market opportunities. The tactical
marketing plan on the other hand specifies the marketing tactics, including
product features, promotion, merchandising, pricing, sales channels, and service.

3. The four corporate planning activities are:

1. Defining the corporate mission

2. Establishing strategic business units
3. Assigning resources to each strategic business unit
4. Assessing growth opportunities

4. The four steps in strategic planning process are:

1. Determine Position – identify strategic issues to address

2. Develop Strategy – Determine your organization’s core purpose
3. Build the Plan – Select key performance indicators to track progress
4. Manage Performance – Communicate strategy to whole organization

5. Every marketing plan has to fit the needs and situation. Even so, there are
standard components you just can’t do without. A marketing plan should always
have a situation analysis, marketing strategy, sales forecast, and expense
budget.
Situation Analysis: Normally this will include a market analysis, a SWOT
analysis (strengths, weaknesses, opportunities, and threats), and a competitive
analysis.

Marketing Strategy: This should include at least a mission statement,

objectives, and focused strategy including market segment focus and product
positioning.

Sales Forecast: This would include enough detail to track sales month by
month and follow up on plan-vs.-actual analysis.

Expense Budget: This ought to include enough detail to track expenses month
by month and follow up on plan-vs.-actual analysis.