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Developing Marketing Strategies and Plans

LECTURE-4. Developing Marketing Strategies and Plans. How is strategic planning carried out at different levels of the organization? What does a marketing plan include? Managing the Marketing Effort Measuring and Managing Return on Marketing Investment. Topic Outline. Planning Marketing.

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Developing Marketing Strategies and Plans

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  1. LECTURE-4

    Developing Marketing Strategies and Plans

  2. How is strategic planning carried out at different levels of the organization? What does a marketing plan include? Managing the Marketing Effort Measuring and Managing Return on Marketing Investment Topic Outline
  3. Planning Marketing Partnering to Build Customer Relationships Value delivery network is made up of the company, suppliers, distributors, and ultimately customers who partner with each other to improve performance of the entire system
  4. Marketing Strategy and the Marketing Mix
  5. Marketing Strategy and the Marketing Mix Market segmentation is the division of a market into distinct groups of buyers who have different needs, characteristics, or behavior and who might require separate products or marketing mixes Market segment is a group of consumers who respond in a similar way to a given set of marketing efforts
  6. Marketing Strategy and the Marketing Mix Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter Market Targeting
  7. Marketing Strategy and the Marketing Mix Market positioning is the arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of the target consumer Whole marketing plan supports the positioning strategy
  8. Marketing Strategy and the Marketing Mix Differentiation begins the positioning process Whole marketing plan supports the positioning strategy
  9. Marketing Strategy and the Marketing Mix Marketing mix is the set of controllable tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market Developing an Integrated Marketing Mix
  10. Marketing Strategy and the Marketing Mix Developing an Integrated Marketing Mix
  11. Managing the Marketing Effort
  12. Managing the Marketing Effort Marketing Analysis – SWOT Analysis
  13. What is a Marketing Plan? A marketing plan is the central instrument for directing and coordinating the marketing effort. It operates at a strategic and tactical level.
  14. Strategic Target marketing decisions Value proposition Analysis of marketing opportunities Tactical Product features Promotion Merchandising Pricing Sales channels Service Levels of a Marketing Plan
  15. Marketing Plan Contents Executive summary Table of contents Situation analysis Marketing strategy Financial projections Implementation controls
  16. Executive Summary Table Of Contents Situation Analysis (SWOT Analysis) Customers Competitors Company Context Marketing Strategy Mission Marketing & Financial Objective Product Lines Competitive positioning Financial Projections Sales forecast Expense Forecast Break Even Analysis Forecasted Sales Value Expected Marketing Cost Implementation Controls Outlines The Controls For Monitoring & Adjusting Spells out The Goals & Budgets Contingency Plan Marketing Plan Contents Details
  17. Evaluating a Marketing Plan Is the plan simple? Is the plan specific? Is the plan realistic? Is the plan complete?
  18. Managing the Marketing Effort Implementing Turns marketing plans into marketing actions to accomplish strategic marketing objectives Addresses who, where, when, how Marketing Implementation
  19. Managing the Marketing Effort Marketing Department Organization
  20. Managing the Marketing Effort Controlling Evaluating of results Taking of corrective action to achieve objectives Operating control Strategic control Marketing Control
  21. Measuring and Managing Return on Marketing Investment Return on Marketing Investment (Marketing ROI) Return on marketing investment is net return from a marketing investment divided by the costs of the marketing investment. provides a measurement of the profits generated by investments in marketing activities.
  22. Bibliography Principles of Marketing by Philip Kotler & Gary Armstrong Fifteenth Edition, Published by Prentice Hall Marketing Management – A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy & Mithileshwar Jha, 13th Edition, Published by Pearson Education, Inc.   Principles and Practices of Marketing by Jobber, D. 4th  edition, McGraw Hill International. Principles of Advertising & IMC by Tom Duncan 2nd Edition, Published by McGraw-Hill Irwin.
  23. The End "Life is like a combination lock; your job is to find the right numbers, in the right order so you can have anything you want."
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