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Marketing Planning. Chapter 01. Marketing Plan. A marketing plan is a written document containing the guidelines for the business center’s marketing programs and allocations over the planning period. Time Horizons for Marketing Plans. Hierarchy of Planning.
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Marketing Planning Chapter 01
Marketing Plan • A marketing plan is a written document containing the guidelines for the business center’s marketing programs and allocations over the planning period.
Objectives of a Marketing Plan • Define the current business situation. • Define problems and opportunities facing the business. • Establish objectives. • Define the strategies and programs necessary to achieve the objectives.
Objectives of a Marketing Plan cont. • Pinpoint responsibility for achieving product objectives. • Encourage careful and disciplined thinking. • Establish a market orientation.
Frequent Mistakes in the Planning Process • The speed of the Process • The Amount of Data Collected • Who does the Planning? • The Structure • Length of the Plan • Frequency of Planning
Frequent Mistakes in the Planning Process cont. • Number of Courses of Action Considered • Who Sees the Plan • Not Using the Plan as a Sales Document • Insufficient Senior Management Leadership • Not Tying Compensation to Successful Planning Efforts
What Makes a Good Planning System? • An effective marketing planning process: • Uses experience from several managerial levels rather than just product managers. • Uses a variety of both internal and external sources of information. • Spends sufficient time collecting and analyzing the data necessary for developing marketing strategies. • Uses a number of incentives for managers.
The Planning Process • Approaches to Planning • Top-down planning • Bottom-up planning
Steps in the Planning Process • Update historical data. • Collect background data. • Data analysis. • Develop objectives, strategies, and action programs. • Develop financial documents. • Negotiate. • Measure progress. • Audit.
