Developing Marketing Programme Implementation Analysis Planning Control
Managing the Marketing Effort Marketing Analysis : Managing marketing functions begins with complete analysis of the company's situation. The company must analyse its mkt. and its mktg. environment to find attractive opportunities and avoid environmental threats. It must analyse the company strengths and weaknesses as well as current and possible mktg. actions to determine which opportunities it can pursue best.
Managing the Marketing Effort Marketing Planning : Marketing planning involves deciding on the mktg. strategies that will help the company attain its overall strategic objectives. A detailed mktg. plan is needed for each business, product or brand. The main section of the plan presents a detailed analysis of the current mktg. situation as well as potential threats and opportunities.
Managing the Marketing Effort A mktg. strategy is the mktg. logic whereby the company hopes to achieve its mktg. objectives. It consists of specific strategies for target mkts., positioning the mktg. mix and mktg. expenditure levels.
Managing the Marketing Effort Marketing Implementation : Marketing implementation is the process that turns mktg. plans into mktg. actions in order to accomplish strategic mktg. objectives. Planning strategies is only a start toward successful mkt. A brilliant mktg. strategy counts for little if the company fails to implement it properly.
Managing the Marketing Effort Whereas mktg. planning addresses the what & why of mktg. activities, implementation addresses who, where, when & how. Manager think that “doing things right” (implementation) is as important or even more important than “doing the right things” (strategy). Companies can gain competitive advantage through effective implementation.
Managing the Marketing Effort Marketing Control : The process of measuring and evaluating the results of mktg. strategies and plans and taking corrective action to ensure that objectives are achieved. Many surprises occur during implementing of mktg. plans thud the mktg. department must practice constant mktg. control.
Managing the Marketing Effort Operating Control : involves checking ongoing performance against the annual plan and taking corrective action when necessary. Its purpose is to ensure the company achieves the sales, profits and other goals set out in the annual plan. Strategic Control : involves looking at whether the company's’ basic strategies are well matched to its opportunities. Mktg. strategies and programs can quickly become outdated, thus company should periodically reassess its overall approach to the market place.
Annual Marketing Planning : is the market blueprint for a years marketing activity for a specified organisational divison or major product. It is written document A separate plan is normally prepared for each major products.
Annual marketing plan serves several purposes:
It summarises the marketing strategies & tactics that will be used to achieve specified objectives in the upcoming year.
This is the “how-to-do-it” document that guides executives of marketing.
It also spells in detail about the implementation & evaluation of the marketing plan.
Plan also outlines who is responsible for each activity; when to be carried out & how much time & money to spend.
Contents of an Annual Marketing Plan:
Executive Summary : is the overview of the plan (no details).
Thrust of the plan is described & explained in one or two page.
Situation Analysis : Marketing programme of the product is analysed – past, present & future conditions.
3. Objectives : are more specific than strategic marketing planning.
Helps achieve strategic marketing goals.
Strategies : in annual marketing plan indicate which target markets are going to be satisfied through the right mix of the 4P’s.
Tactics : Specific activities (action plans) are devised for carrying out each major strategy.
Tactics specifically answer the questions of what, who & how for the company’s marketing efforts.
Financial Schedules : This normally includes 2 kinds of financial information: projected sales, expenses & profits – pro forma financial statement;
and the amount of resources dedicated to different activities in one or more budgets.
Timetable : Has a time frame; as to when will the activities be carried out during the upcoming year.
8. Evaluation Procedures : Measure performance against goals – during & at the end of the year.