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Analysis for Marketing Planning

Analysis for Marketing Planning . Defining the Market. Marketing Planning . A written document containing a specific blueprint for business/business unit’s marketing program and allocations for a specific period of time. Corporate strategic planning. Group or sector planning.

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Analysis for Marketing Planning

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  1. Analysis for Marketing Planning Defining the Market

  2. Marketing Planning • A written document containing a specific blueprint for business/business unit’s marketing program and allocations for a specific period of time.

  3. Corporate strategic planning Group or sector planning SBU planning Annual marketing plan

  4. Marketing Planning Sequence Collect data Analyze data Develop objectives, strategies, programs Develop financial documents Negotiate final plan Measure progress toward objectives Audit

  5. Marketing Plan Components • Executive summary • Situation analysis • Industry analysis • Competitor analysis • Customer analysis • Demand analysis & forecasts • Marketing objectives • Marketing strategy • Marketing tactics • Product/brand management • Pricing management • Distribution management • Communications management • Budget • Implementation and control plan • Contingency plan

  6. Market Definition • How a business sees or defines its market for its product/service. • Who do we or will we compete with?

  7. Different Bases of Competition • Customer-oriented • Marketing-oriented, i.e., advertising and promotion • Resource-oriented • Geographic

  8. Methods for Determining Competitors • Existing categories • Substitutability • Managerial judgment

  9. Defining market using customer-based data • Brand switching • Basic question: Are these products substitutes for each other? • Positive cross-elasticity of demand • Substitute products • Negative cross-elasticity of demand • Complementary products

  10. Customer judgment • Based on customer perceptions • Overall similarity--perceptual map

  11. More Gentle Anacin 3   Tylenol Reg. Str. Less Strong More Strong  Tylenol Extra Str.  Bufferin  Bayer  Anacin  Anacin Max.  Excedrin Less Gentle

  12. Customer judgment • Similarity of consideration sets • Product deletion • Substitution in use

  13. Defining market by levels of competition • Identify levels or dimensions of competition • Three dimensions of competition: • Works from broad to narrow • Identifies all possible opportunities, enabling business to be proactive and to anticipate consumer needs

  14. First Dimension: • Identifies competing product classes serving generic need. Example: Generic need = thirst Competing product classes = milk, soda, coffee, tea, juices, water, etc.

  15. Second Dimension: • Identifies competing product forms within product class. Example: Product class = coffee Competing forms = whole bean, ground, instant, coffee bags, etc.

  16. Third Dimension: • Identifies competing brands within product form. Example: Product form = whole bean Competing brands = Folger’s, Starbuck’s, Millstone, Gevalia, etc.

  17. Marketing Definition Thirst Broad Milk Soda Coffee Tea Juice Ground Whole Bean Instant Coffee Bag Narrow Folger’s Starbuck’s Millstone Gevalia

  18. Product form competition: Diet colas Product category competition: Soft drinks Generic competition: Beverages Budget competition: Food & entertainment

  19. Choosing Competitor Focus • Depends on several factors: • Long-term vs. short-term • Product life cycle stage • Rate of change in technology • Firm’s distinctive capabilities

  20. Product Life Cycle

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