1 / 124

Strategic Marketing Planning Handbook: Planning, Analysis & Implementation

Learn how to develop, implement, and control marketing activities using systematic processes. This comprehensive guide covers market research, customer segmentation, branding, and more to drive business growth effectively.

kylep
Download Presentation

Strategic Marketing Planning Handbook: Planning, Analysis & Implementation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Marketing Planning & Problem Solving[Dr. Carter; MKTG.490] COMBINED SET OF 1st SECTION MARKETING PLANNING TEXT SLIDES

  2. Chapter 1: Introduction to Marketing Planning The Marketing Plan Handbook 3rd ed. Marian Burk Wood 1-1

  3. Marketing Planning Defined Marketing Planning is a systematic, structured process. It includes: • Researching and analyzing the current situation. • Developing and documenting the firm’s objectives, strategies and programs, • Implementing, evaluating and controlling marketing activities. 1-2

  4. Contents of The Marketing Plan • Executive Summary • Current Situation • Objectives and Issues • Target Market, Customer Analysis and Positioning • Marketing Strategy • Marketing Programs • Financial Plans • Implementation and Controls 1-3

  5. The Marketing Planning Process 1-4

  6. Step 1: Research and Analyze the Current Situation The marketer performs both: • External analysis, and • Internal analysis 1-5

  7. External Analysis External analysis involves the understanding of trends that may impact marketing strategy: • Demographic • Economic • Technological • Political-Legal • Ecological • Social-Cultural 1-6

  8. Internal Analysis Marketers also assess the firm’s capabilities and the strategies of competitors in order to: • Build on strengths • Exploit competitors’ weaknesses 1-7

  9. Other Analyses Other areas that are analyzed for their impact on marketing strategy include: • Customers • Suppliers • Distributors • Partners, and • Other Stakeholders 1-8

  10. Step 2: Understand Markets and Customers • Can be consumers or businesses • A comprehensive understanding of the customer is desired: • Buying habits, needs, wants, attitudes and behaviors. • Who?, What?, Where?, When?, Why?, How? • Are buying patterns changing? Why? 1-9

  11. Step 3: Segmentation, Targeting and Positioning • The purpose of segmentation: To group customers with similar needs, wants, behavior or attitudes. • Targeting: The selection of specific segments for marketing. Can be to one segment, multiple segments, or the entire market. • Positioning: Using marketing to create a competitively distinctive place (position) for the brand or product in the mind of the targeted customers. 1-10

  12. Step 4: Plan Direction, Objectives, and Marketing Support • Goals: Long-term performance targets. • Objectives: Shorter-term targets that support the achievement of goals. • Sustainable Marketing: • Balancing long-term goals with short-term objectives and budget realities. • Balancing goals and objectives with an eye toward being responsible to the larger society. 1-11

  13. Six Approaches to Growth Based upon permutations of markets and products. CURRENT MODIFIED INNOVATED Product Development Market Penetration EXISTING EXPANDED (Geographic) ENTIRELY NEW Market Development Diversification 1-12

  14. Step 5: Develop Marketing Strategies and Programs • Utilizing the tools of the “marketing mix”. • Consistent with the firm’s overall direction, goals and strategies. • Includes the development of strategic alliances. 1-13

  15. Alliance Provides Value 1-14

  16. Primary Marketing Tools The primary tools for marketing, referred to as the “Marketing Mix” are: • Product • Price • Promotion, and • Channels 1-15

  17. The Marketing Mix 1-16

  18. Product • Tangible good or an intangible service. • Must be considered in a holistic fashion. • Branding must also be considered. 1-17

  19. Pricing Based upon a number of factors: • How customers perceive the value of the offering. • Positioning. • Product costs. • Competitive forces. • Objectives of the organization. 1-18

  20. Channel • How, when and where to make the goods and services available to customers. • Requires effective relationships with channel partners. 1-19

  21. Promotion Involves the following activities: • Advertising • Public Relations • Sales Promotion • Personal Selling • Direct Marketing • Use of the Internet 1-20

  22. Step 6: Track Progress, Implement and Control • Mechanisms and methods of measuring progress toward goals: • Sales forecasts • Budgets • Schedules • Comparing actuals vs. projections or the plan. • Making changes as needed. 1-21

  23. Preparing for Marketing Planning Marketers must develop a number of professional and organizational strengths, including: • Knowledge of markets and customers, • Core competencies, and • Strategic relationships 1-22

  24. Support Strategies: Customer Service Customer Service: • Reinforces positive perceptions. • Enhances business through reputation and referral. • Helps differentiate from competitors. • Poor service alienates otherwise loyal customers. 1-23

  25. Support Strategies: Internal Marketing Internal Marketing: • Focuses all employees on serving customers. • Builds support for the marketing plan. • Enhances execution of the marketing plan throughout the organization. 1-24

  26. 5 Guiding Principles for Effective Marketing Planning • Expect Change • Emphasize Relationships • Involve Everyone • Seek Alliances • Innovate to Provide Value 1-25

  27. Chapter 2: Analyzing the Current Situation The Marketing Plan Handbook 3rd ed. Marian Burk Wood 2-1

  28. Environmental Scanning and Analysis Involves the analysis of both: • Internal Factors, and • External Factors 2-2

  29. Internal Factors • Mission • Resources • Offerings • Previous Results • Business Relationships • Keys to Success and Warning Signs 2-3

  30. External Factors • Demographics • Ecological • Economic • Technology-related • Political-Legal • Social-Cultural • Competitors 2-4

  31. Internal Analysis: Mission Mission: • States the firm’s fundamental purpose. • Indicates how the firm will add value. 2-5

  32. Internal Analysis: Resources • Human • Financials • Informational • Technology • Supply 2-6

  33. Internal Analysis: Offerings Examining what the firm is currently offering in the way of goods and services: • Fit with mission and resources. • Affirm role of each line and item. 2-7

  34. Internal Analysis: Previous Results • Results include: • Sales (dollars and units). • Profitability. • Customer acquisition and retention costs. • Other financial results. • Provide clues to firm’s strengths and weaknesses. • Helps separate the effective programs from the less-effective programs. 2-8

  35. Internal Analysis: Business Relationships Includes relationships with: • Suppliers • Distributors • Other business partners Examine: • Capacity • Quality • Value provided 2-9

  36. Internal Analysis: Keys to Success and Warning Signs Keys to Success: • Identify special factors most crucial to success. • Maintain focus on key priorities. Warning Signs • Indicate potential problems with the plan. 2-10

  37. External Analysis: Demographic Trends Examined by target market: • Consumer Demographics • Business Demographics 2-11

  38. External Analysis: Consumer Demographic Trends Key consumer demographic trends include: • Population growth • Population composition: • Age • Gender • Ethnicity • Religious makeup • Education • Occupation • Household size • Income 2-12

  39. External Analysis: Business Demographic Trends • Size and growth of industries • Number of companies. • Number of locations or branches. • Number of employees. • Sales revenues. • Trends in new business formation may signal emerging opportunities. 2-13

  40. External Analysis: Economic Trends • Must keep an eye on global, national, regional and local economic trends. • Some measures typically monitored: • Buying power • Income • Debt • Credit Usage 2-14

  41. External Analysis: Ecological Trends Potential impacts: • Availability of raw materials. • Government regulations. • Social attitudes. 2-15

  42. External Analysis: Technological Trends Key trends include: • Cell phones • Computers • Digital media • Internet access • Increasing bandwidth 2-16

  43. External Analysis: Political-Legal Trends Legal Trends: Laws includes international, federal, state and local. Related to: • Competitive behavior • Pricing • Taxation • Promotion • Distribution • Product liability • Labeling 2-17

  44. External Analysis: Political-Legal Trends Political Trends • Global. national, or local • Can signal a change in the legal environment. 2-18

  45. External Analysis: Social-Cultural Trends • Key trend: Increasing diversity in markets. • Keep tabs on popular culture. • Tends to be volatile. • Core beliefs and values change more slowly over time. 2-19

  46. External Analysis: Competitors • Identify: • Current competitors. • Possible future competitors. • Learn about the unique competitive advantages of each competitor. • Track trends in market share. 2-20

  47. Porter’s Five Forces Model 2-21

  48. Three Fundamental Business Strategies • Cost Leadership Strategy • Differentiation Strategy • Focus Strategy 2-22

  49. SWOT Analysis • Strengths • Weaknesses • Opportunities • Threats 2-23

  50. SWOT Analysis (cont’d) 2-24

More Related