All rights reserved. Debbie Thorne McAlister.

1. All rights reserved. Debbie Thorne McAlister.

2. Learning Focus Process of marketing planning Components of marketing plan Purposes and uses of marketing plan Common mistakes in marketing planning

4. Detailed formulation of the actions needed to carry out the marketing program An action document: The handbook for marketing implementation, evaluation and control Not the same as a business plan Requires a great deal of information from many different sources The Marketing Plan

5. Two Purposes of Marketing Plan Align people and departments for the successful implementation of the plan Gain support and budget necessary to implement the plan

6. Organizational Mission vs. Organizational Vision (1 of 2) Elements of the Mission Statement Five basic questions to be answered: Who are we? Who are our customers? What is our operating philosophy? What are our core competencies or competitive advantages? What are our concerns and interests related to our employees, our community, society in general and our environment?

7. Organizational Mission vs. Organizational Vision (2 of 2) Mission Width and Stability Width: Too broad or too narrow? Stability: Frequency of modifications Customer-Focused Mission Statements Ben and Jerry�s 3-part Mission Statement Product Mission Economic Mission Social Mission Tylenol

8. Business-Unit Strategy: The central means for: Utilizing and integrating the organization�s resources Carrying out the organization�s mission Achieving the organization�s desired goals and objectives Associated with developing a competitive advantage Determines the nature and future direction of each business unit Essentially the same as corporate strategy in small businesses Corporate or Business-Unit Strategy

10. All business functions must support the organization�s mission and goals. Functional objectives should be expressed in clear, simple terms. All functional objectives should be reconsidered for each planning period. Functional Goals and Objectives

11. Functional strategies are designed to integrate efforts focused on achieving the area�s stated objectives. The strategy must: (1) Fit the needs and purposes of the functional area (2) Be realistic with the organization�s resources and environment (3) Be consistent with the organization�s mission goals, and objectives. The effects of each functional strategy must be evaluated. Functional Strategy

12. Involves activities that execute the functional strategy. Functional plans have two target markets: (1) External market (2) Internal market A company must rely on its internal market for a functional strategy to be implemented successfully. Implementation

13. Designed to keep activities on target with goals and objectives Coordination among functional areas is a critical issue Open lines of communication is the key Evaluation and control is both an ending and beginning: Occurs after a strategy has been implemented Serves as the beginning point for planning in the next cycle Evaluation and Control

14. A Market-Oriented Organization: Shifts its focus: From products to the requirements of market segments From transactions to relationships From competition to collaboration Puts customer�s needs and wants first Focuses on long-term, value-added relationships Instills a corporate culture that puts customers at the top of the organizational hierarchy Cooperates with suppliers and competitors to serve customers better Strategic Planning in theMarket-Oriented Organization

15. Principles of Marketing Planning Strategy first, operations second Marketing is an attitude, not a set of procedures SWOT should be focused on critical customers and competitors Make planning appropriate for culture and top management�s support Create a rigorous marketing audit

16. Delta Pull-Out Spray Faucet Delta Faucet Co. Delta Pull-Out Spray Faucet helped push firm�s market share in that category up from 1.6% to 23.2% in two years $227.15 - $294.30

17. Should be well organized A good marketing plan outline is: Comprehensive Flexible Consistent Logical Marketing Plan Structure (1 of 5)

18. Marketing Plan Structure

19. I. Executive Summary Synopsis of the overall marketing plan Introduces major aspects of the marketing plan II. Situation Analysis Summarizes information about 3 key environments: Internal environment Customer environment Firm�s external environment Marketing Plan Structure (2 of 5)

20. III. SWOT Analysis Strengths Weaknesses Opportunities Threats Analysis of the SWOT matrix Establishing a strategic focus Marketing Plan Structure (3 of 5)

21. IV. Marketing Goals and Objectives: Formal statements of desired and expected outcomes of the marketing plan Goals: Broad, simple statements of what is to be accomplished Objectives More specific and essential to planning V. Marketing Strategy: Primary target market and marketing mix Secondary target market and marketing mix Marketing Plan Structure (4 of 5)

22. VI. Marketing Implementation 1. What specific marketing activities will be undertaken? 2. How will these activities be performed? 3. When will these activities be performed? 4. Who is responsible for the completion of these activities? 5. How will the completion of planned activities be monitored? 6. How much will these activities cost? VII. Evaluation and Control Formal marketing control Informal marketing control Financial assessments Marketing Plan Structure (5 of 5)

23. Tips for using the marketing plan framework to develop a marketing plan: Plan ahead Revise, revise, revise Be creative Use common sense and judgment Think ahead to implementation Update regularly Communicate with others Using the Marketing Plan Structure

24. A good marketing plan will: (1) Explain both the present and future situations of the organization (2) Specify the outcomes that are expected (3) Describe the specific actions that are to take place (4) Identify the resources that will be needed (5) Permit the monitoring of each action and its results Communicating the strategy to top executives is paramount. Purposes and Significanceof the Marketing Plan

26. Problems in Developing and Implementing the Marketing Plan

28. Nike�s Triax 250 Sport Watch Series Designer: Astro Studios and Nike Nike�s first brand extension from running shoes into watches Nike now sells nearly 2 million watches a year generating $100 million annually $85 - $130

29. Revising Hawaii�s Tourism Plan Governor Linda Lingle visited Japan to encourage tourism, down 30% after September 11, SARS, and Iraq. One tactic related to the popularity of hula in Japan and Hawaii as its birthplace. Island of Oahu was most affected by the downturn, since this is where many Japanese travel.

30. Product Failures: Remember These?

33. Linking Market-Based Assets to Shareholder Value

34. Questions: Why are many corporate icons having trouble? Why are many jobs being lost? Why are CEOs being fired? Answer: Bad strategy in an increasingly unforgiving and competitive marketplace. Source: Jack Trout, Capturing Mindshare, Conquering Markets, 2004.