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Marketing plan final

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Marketing plan final

Marketing plan final

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  • External Audit For Uncontrollable variables
    Internal Audit For controllable variables
  • Transcript

    • 1. Marketing PlanMarketing Plan Authors:Authors: Prof. Keegan, Prof. MalcolmProf. Keegan, Prof. Malcolm Presenters: M. AzadiPresenters: M. Azadi M. TabatabaeiM. Tabatabaei Chapter 8
    • 2. ObjectivesObjectives  Marketing planningMarketing planning  Tactical and Strategic Marketing PlansTactical and Strategic Marketing Plans  Marketing planning processMarketing planning process  Marketing auditsMarketing audits  Corporate PlanningCorporate Planning  AssumptionsAssumptions  Marketing ObjectivesMarketing Objectives  Marketing StrategyMarketing Strategy  Marketing ProgramMarketing Program  Mission statementsMission statements
    • 3. Marketing PlanningMarketing Planning  An outline of a design to accomplish aAn outline of a design to accomplish a specific objective:specific objective: – To create value for customers at a profit,To create value for customers at a profit, or in the new concept of marketing,or in the new concept of marketing, – To create a mutually beneficialTo create a mutually beneficial relationshiprelationship
    • 4. Marketing PlanningMarketing Planning Market Needs Wants Strengths of organization Weakness of organization Existing competitors Expected competitorsDesign for creating value
    • 5. Marketing PlanningMarketing Planning ProcessProcess Definition:Definition:  The application of marketingThe application of marketing resources to achieve marketingresources to achieve marketing objectives.objectives.
    • 6. Marketing PlanningMarketing Planning ProcessProcess 1.1. Performing a situation analysisPerforming a situation analysis 2.2. Formulating basic assumptionsFormulating basic assumptions 3.3. Setting objectives for what is beingSetting objectives for what is being sold and to whomsold and to whom 4.4. Deciding how the objectives are toDeciding how the objectives are to be achievedbe achieved 5.5. Scheduling and costing out theScheduling and costing out the actions necessary for implementationactions necessary for implementation
    • 7. DevelopDevelop a Market Plana Market Plan  Management provides little guidance as toManagement provides little guidance as to how the process should be managed.how the process should be managed. – To Compromise between what is desirable andTo Compromise between what is desirable and what is practicablewhat is practicable  Management must beManagement must be customizedcustomized to theirto their particular organizationparticular organization – SizeSize – ComplexityComplexity – Character and diversity of company operationsCharacter and diversity of company operations
    • 8. Essential of MarketingEssential of Marketing PlanningPlanning  We need marketing planning whenWe need marketing planning when hostiles increased and environment ishostiles increased and environment is complex.complex.
    • 9. Our ChallengeOur Challenge  We should manage:We should manage: Revenue Profit Return on investment Cost Optimization
    • 10. Application ofApplication of Marketing PlanMarketing Plan 1.1. To help identify sources of competitive advantageTo help identify sources of competitive advantage 2.2. To force an organized approachTo force an organized approach 3.3. To develop specificityTo develop specificity 4.4. To ensure consistent relationshipsTo ensure consistent relationships 5.5. To inform everyone in the organization aboutTo inform everyone in the organization about prioritiespriorities 6.6. To obtain resources needed to implement plansTo obtain resources needed to implement plans 7.7. To engage organizational support at all levels,To engage organizational support at all levels, form the bottom to the top of the organizationform the bottom to the top of the organization 8.8. To set objectives and strategiesTo set objectives and strategies 9.9. To gain commitment towards goalsTo gain commitment towards goals
    • 11. The Elements ofThe Elements of StrategyStrategy 1.1. Stepping back formStepping back form the day to daythe day to day 2.2. Ideas and thoughtIdeas and thought 3.3. Activity/ActionActivity/Action 4.4. Setting ObjectivesSetting Objectives and goalsand goals 5.5. Important decisionsImportant decisions and choicesand choices 6.6. SignificantSignificant commitment ofcommitment of resourcesresources 7.7. Not easily reversibleNot easily reversible 8.8. InvolvesInvolves choice/tradeoffschoice/tradeoffs 9.9. DifferentiationDifferentiation 10.10. InsightInsight 11.11. VisionVision 12.12. Defines the businessDefines the business we are inwe are in 13.13. Defines the businessDefines the business we are becomingwe are becoming 14.14. ValueValue 15.15. TradeoffsTradeoffs 16.16. Objectives and goalsObjectives and goals 17.17. Strategy Vs. TacticsStrategy Vs. Tactics
    • 12. Strategic PlanStrategic Plan Definition:Definition:  A clear and simple summary ofA clear and simple summary of – Key market trends,Key market trends, – Key target segments,Key target segments, – The value required by each segment,The value required by each segment, – How the company intends to create value,How the company intends to create value, – With a clear prioritization of marketingWith a clear prioritization of marketing objectives and strategies, together withobjectives and strategies, together with financial consequences.financial consequences.
    • 13. Biggest Danger forBiggest Danger for OrganizationsOrganizations Most ManagersMost Managers prefer to sell theprefer to sell the products they findproducts they find easiest to sell toeasiest to sell to customers who offercustomers who offer the least line ofthe least line of resistance.resistance.
    • 14. StrategyStrategy Strategy describes:Strategy describes:  The direction a business will pursue andThe direction a business will pursue and guides the allocation of resources and effortguides the allocation of resources and effort  The business we are in and becoming.The business we are in and becoming. And provides:And provides:  The logic that integrates the Perspectives ofThe logic that integrates the Perspectives of functional departments and operating unitsfunctional departments and operating units and points them all in the same direction.and points them all in the same direction.
    • 15. Strategy StatementStrategy Statement  The strategy statement for a business unitThe strategy statement for a business unit is composed of the following threeis composed of the following three elements:elements: 1.1. A business definition that specifies theA business definition that specifies the area in which the business will compete.area in which the business will compete. 2.2. A strategic thrust that describes whereA strategic thrust that describes where competitive advantage is to be gained.competitive advantage is to be gained. 3.3. Supportive functional strategies.Supportive functional strategies.
    • 16. Marketing StrategyMarketing Strategy Definition:Definition:  It is a statement of how a brand orIt is a statement of how a brand or product line will achieve its objectivesproduct line will achieve its objectives  It Provides decisions and directionIt Provides decisions and direction regarding variables such as:regarding variables such as: – Segmentation of the market,Segmentation of the market, – Identification of the target market,Identification of the target market, – Positioning,Positioning, – Marketing Mix elements andMarketing Mix elements and expenditures.expenditures.
    • 17. Tactically OrientedTactically Oriented CompanyCompany Board Senior Management Middle Management Operations
    • 18. Strategic OrientedStrategic Oriented CompanyCompany Board Senior Management Middle Management Operations
    • 19. Rules ofRules of Marketing PlanningMarketing Planning 1.1. Develop the strategic marketing plan.Develop the strategic marketing plan. • Scanning the external environmentScanning the external environment • Identifying early on the effect this mayIdentifying early on the effect this may have on the companyhave on the company 1.1. A strategic plan should cover aA strategic plan should cover a three-year period.three-year period. • NeverNever write the one-year plan first andwrite the one-year plan first and extrapolate from it.extrapolate from it.
    • 20. Marketing PlanningMarketing Planning ProcessProcess A strategic marketing plan should contain theA strategic marketing plan should contain the following:following: 1.1. Executive summaryExecutive summary 2.2. Mission StatementMission Statement 3.3. Financial Summary of revenue, expenses andFinancial Summary of revenue, expenses and earningsearnings 4.4. Marketing auditMarketing audit 5.5. SWOT analysisSWOT analysis 6.6. Assumption of key determinantsAssumption of key determinants 7.7. Overall marketing objectives and strategiesOverall marketing objectives and strategies 8.8. Expected resultsExpected results 9.9. Alternatives (contingency plan)Alternatives (contingency plan) 10.10. BudgetBudget
    • 21. Stages of Marketing PlanStages of Marketing Plan 1.Mission 2.Corporate objectives 3.Marketing audit 4.SWOT analysis 5.Assumptions 6.Marketing objective and strategies 7.Estimate expected result 8.Identity alternative plans and mixes 9.Budget 10.First year detailed implementation program Phase one -Goal Setting Phase Two – Situation Review Phase Three- Strategy Formulation Phase Four- Resources allocation and monitoring Measuremen t and review
    • 22. Critical FactorsCritical Factors  DelegationDelegation – When companies delegate marketingWhen companies delegate marketing planning to planner, the plan invariablyplanning to planner, the plan invariably fails, because planning for linefails, because planning for line management cannot be delegated to amanagement cannot be delegated to a third party.third party.  CommitmentCommitment – Without it, those charged with introducingWithout it, those charged with introducing the planning found that there was greatthe planning found that there was great resistance to planning on the part of localresistance to planning on the part of local managers.managers.
    • 23. Marketing Audit IMarketing Audit I ““Marketing audit is a comprehensive,Marketing audit is a comprehensive, systematic, independent, and periodicsystematic, independent, and periodic examination of a companyexamination of a company’’ss——oror business unitbusiness unit’’ss——marketingmarketing environment, objectives, strategies, andenvironment, objectives, strategies, and activities with a view to determiningactivities with a view to determining problem areas and opportunities andproblem areas and opportunities and recommending a plan of action torecommending a plan of action to improve the companyimprove the company’’s marketings marketing performanceperformance”” Philip KotlerPhilip Kotler
    • 24. Marketing Audit IIMarketing Audit II Goal:Goal: To see how well the firm is applying theTo see how well the firm is applying the marketing conceptsmarketing concepts 1.1. Examine external and internalExamine external and internal information and proceduresinformation and procedures 2.2. Identify problems in the environmentIdentify problems in the environment
    • 25. Marketing Audit IIIMarketing Audit III Need for an audit does not manifestNeed for an audit does not manifest itself until things start to go wrong for aitself until things start to go wrong for a company in the form:company in the form:  Declining salesDeclining sales  Falling marginsFalling margins  Lost market shareLost market share  Underutilized production capacityUnderutilized production capacity
    • 26. Marketing Audit IVMarketing Audit IV  External AuditExternal Audit -By independent experts-By independent experts -Starts with an examination of information-Starts with an examination of information on the general economy and then moves onon the general economy and then moves on to the outlook for the health and growth ofto the outlook for the health and growth of the markets served by the company.the markets served by the company.  Internal AuditInternal Audit -By members of the marketing organization-By members of the marketing organization -To assess the resources of the-To assess the resources of the organization as they relate to theorganization as they relate to the environment and the resources ofenvironment and the resources of CompetitorsCompetitors
    • 27. Marketing Audit VMarketing Audit V  At least once a yearAt least once a year  Using:Using: – Normal information,Normal information, – Control Procedures,Control Procedures, – Marketing ResearchMarketing Research Siêu thị điện máy Việt Longwww.vietlongplaza.com.vn
    • 28. Marketing Audit VIMarketing Audit VI  Company Executives and ManagersCompany Executives and Managers – Few Consultants have the in-depthFew Consultants have the in-depth knowledge of market, customers,knowledge of market, customers, company culture, and the industry thatcompany culture, and the industry that company line managers have.company line managers have.  External ConsultantsExternal Consultants – Every company is at risk of becomingEvery company is at risk of becoming blinded to reality by the influence ofblinded to reality by the influence of company culturecompany culture
    • 29. Kind of variablesKind of variables for Controllingfor Controlling  Non Direct ControlNon Direct Control These usually take the form of what can beThese usually take the form of what can be described as:described as: – Environment,Environment, – Market,Market, – Competitive variablesCompetitive variables  Company has ControlCompany has Control – Operational variablesOperational variables
    • 30. Auditing ProcessAuditing Process 1.1. Identification, measurement,Identification, measurement, collection, and analysis of all factscollection, and analysis of all facts and opinions that affect a companyand opinions that affect a company’’ss problemproblem 2.2. The application of judgment toThe application of judgment to uncertain areas that remain after theuncertain areas that remain after the initial analysisinitial analysis
    • 31. Marketing AuditMarketing Audit ProcedureProcedure  Marketing environment auditMarketing environment audit  Marketing strategy auditMarketing strategy audit  Marketing organization auditMarketing organization audit  Marketing system auditMarketing system audit  Marketing productivity auditMarketing productivity audit  Marketing function auditMarketing function audit  Marketing excellence reviewMarketing excellence review  Ethical and social responsibility reviewEthical and social responsibility review
    • 32. SWOT AnalysisSWOT Analysis Opportunities Threats Strengths STSO Weakness WTWO Internal External
    • 33. Corporate PlanningCorporate Planning Step 1:Step 1: CorporateCorporate FinancialFinancial ObjectiveObjective Step 2:Step 2: ManagemeManageme nt Auditnt Audit Step 3:Step 3: ObjectiveObjective andand StrategyStrategy SettingSetting Step 4:Step 4: PlansPlans Step 5:Step 5: CorporateCorporate PlansPlans TargetedTargeted Growth inGrowth in Sales andSales and earningsearnings MarketingMarketing DistributionDistribution ManufacturiManufacturi ngng FinancialFinancial PersonnelPersonnel MarketingMarketing DistributionDistribution ManufacturiManufacturi ngng FinancialFinancial PersonnelPersonnel MarketingMarketing DistributionDistribution ManufacturiManufacturi ngng FinancialFinancial PersonnelPersonnel Issue:Issue: corporatecorporate objectivesobjectives andand strategiesstrategies MarketingMarketing ““ ……
    • 34. Elements ofElements of Corporate PlanCorporate Plan 1.1. The desire level of profitabilityThe desire level of profitability 2.2. Business boundariesBusiness boundaries • What Kinds of products will be sold to what kinds ofWhat Kinds of products will be sold to what kinds of market (Marketing)market (Marketing) • What Kinds of facilities will be developedWhat Kinds of facilities will be developed (Production and distribution)(Production and distribution) • The size and character of the labor forceThe size and character of the labor force (Personnel)(Personnel) • Funding (Finance)Funding (Finance) • Technology to be developed (Research andTechnology to be developed (Research and development)development) 1.1. Other corporate objectivesOther corporate objectives • Social Responsibility and corporateSocial Responsibility and corporate • Stock-marketStock-market • Employer imageEmployer image
    • 35. AssumptionsAssumptions  This is one of the most criticalThis is one of the most critical steps in the preparation of asteps in the preparation of a marketing plan because it is themarketing plan because it is the easiest step to do carelessly.easiest step to do carelessly.  They should be:They should be: – Key,Key, – CriticalCritical – and few in Numberand few in Number – Consistent with relevant knownConsistent with relevant known factsfacts – With defensible assumptionsWith defensible assumptions
    • 36. Examples:Examples:  Industrial overcapacity will increase fromIndustrial overcapacity will increase from 105 percent to 115 percent as new plants105 percent to 115 percent as new plants come into operation.come into operation.  Price competition will force price levelsPrice competition will force price levels down by 10 percent across the board.down by 10 percent across the board.  A new product that competes with ours willA new product that competes with ours will be introduced by our major competitorbe introduced by our major competitor before the end of the second quarter.before the end of the second quarter. Siêu thị điện máy Việt Longwww.vietlongplaza.com.vn
    • 37. 4. Diversification 2. Market Development New Markets 1. Market Penetration Existing Markets Existing Products 3. Product Development New Products Three Intensive Growth Strategies: Ansoff’s Product/Market Expansion Grid Marketing Objectives andMarketing Objectives and StrategiesStrategies
    • 38. Marketing Mix Product Price Promotion Place The Marketing MixThe Marketing Mix Customer Solution Customer Cost Communication Convenience
    • 39. Use of Marketing PlanUse of Marketing Plan To determine:To determine:  Where the company is now,Where the company is now,  Where it wants to go,Where it wants to go,  How to get thereHow to get there Includes:Includes:  Advertising PlanAdvertising Plan  Sales Promotion PlanSales Promotion Plan  Pricing PlanPricing Plan  Distribution PlanDistribution Plan  Product PlanProduct Plan  Target Market PlanTarget Market Plan
    • 40. The Marketing BudgetThe Marketing Budget  To justify all marketing expendituresTo justify all marketing expenditures from a zero base each year againstfrom a zero base each year against the task that you wish to accomplish.the task that you wish to accomplish.
    • 41. Mission StatementsMission Statements  It is one of the most difficult aspects ofIt is one of the most difficult aspects of marketing planning to master, largelymarketing planning to master, largely because it is philosophical and qualitativebecause it is philosophical and qualitative in nature.in nature.  Key points:Key points: 1.1. Role or ContributionRole or Contribution  ProfitProfit  ServiceService  Opportunity seekerOpportunity seeker 1.1. Business definitionBusiness definition 2.2. Core CompetenciesCore Competencies 3.3. Company/Division PositioningCompany/Division Positioning 4.4. Indications for the futureIndications for the future
    • 42. Types of MissionTypes of Mission StatementsStatements  MotherhoodMotherhood It found in annual reports designed toIt found in annual reports designed to ““strokestroke”” shareholders/Non Practical Useshareholders/Non Practical Use  The Real ThingThe Real Thing Meaningful Statement/impact on theMeaningful Statement/impact on the behavior of the executives at all levels.behavior of the executives at all levels.  Purpose StatementPurpose Statement Lower-Level mission statement/AppropriateLower-Level mission statement/Appropriate on the strategic business unit, departmentalon the strategic business unit, departmental or product group level of the organization.or product group level of the organization.
    • 43. Examples ofExamples of Corporate MissionCorporate Mission SINGAPORE AIRLINES is engagedSINGAPORE AIRLINES is engaged in air transportation and relatedin air transportation and related businesses. It operates world-wide asbusinesses. It operates world-wide as the flag carrier of the Republic ofthe flag carrier of the Republic of Singapore, aiming to provide servicesSingapore, aiming to provide services of the highest quality at reasonableof the highest quality at reasonable prices for customers and a profit forprices for customers and a profit for the companythe company
    • 44. Examples ofExamples of Corporate MissionCorporate Mission MARRIOTTMARRIOTT’’S Mission Statement:S Mission Statement: We are committed to being the bestWe are committed to being the best lodging and food service company inlodging and food service company in the world, by treating employees inthe world, by treating employees in ways that create extraordinaryways that create extraordinary customer service and shareholdercustomer service and shareholder valuevalue
    • 45. Last WordLast Word  There is no secret magic or a formula.There is no secret magic or a formula.  It is more of an age-old adage thatIt is more of an age-old adage that harder they work, the luckier they get.harder they work, the luckier they get.  It is not necessary to be a mightyIt is not necessary to be a mighty corporation to do all this and acorporation to do all this and a company of any size should be able tocompany of any size should be able to do so and succeed.do so and succeed.
    • 46. A Goal is a dreamA Goal is a dream with a deadlinewith a deadline Zig ZaglarZig Zaglar

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