Strategic planning and mission statement

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Marketing involves a range of processes concerned with finding out what consumers want, and then providing it for them. This involves four key elements, which are referred to as the 4Ps. A useful starting point therefore is to carry out market research to find out about customer requirements in relation to the 4Ps.

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Strategic planning and mission statement

  1. 1. Click to add text Principles of Marketing Strategic Planning and Mission statement Ahmad Idrees
  2. 2. Strategic Planning Annual plan—A short-term plan that describes the company’s current situation, its objectives, the strategy and budgets for the year ahead. Strategic Planning – The process of developing and maintaining strategies to maximize the capabilities of organizations to achieve the objective in the changing marketing environment. Normally ,long term (for 3-5 years or even more).
  3. 3. Mission A Mission is a statement of organisation’s purpose – what it wants to achieve in the wider environment.
  4. 4. Mission Statement Normally tells …. What is our business? What are our customers? If we work for profit or not?
  5. 5. Marketing Environment The organization's marketing environment is made up of: 1. The internal environment e.g. staff , office technology, wages and finance, etc. 2. The micro-environment e.g. , agents and distributors, suppliers, our competitors, etc. 3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors..
  6. 6. The Planning Process 1. Situational Analysis 2. Objectives 3. Strategy 4. Action Plans 5. Control Feedback
  7. 7. Marketing Audit It is recommended to do Marketing Audit at various stages. It is an examination of a company’s environment, strategies and activities to understand problems and opportunities. Under findings of a marketing audit, a plan of action is recommended to improve company’s marketing performance.
  8. 8. PEST ANALYS  PEST Analysis is the scan of external macro environment of an organisation. PEST is abbreviation of POLITICAL & LEGAL, ECONOMIC , SOCIAL , TECHNOLOGICAL We learn about all these above mentioned factors in order to understand the environment where an organisation operates. Following Slides will present example of a generic PEST Analysis.
  9. 9. PEST ANALYSIS 1. Political and Legal  Monetary policies  Social legislation & regulations  Government relationship with industries  Legislation special related to marketing  Employment Laws  Government Stability  And similar factors.
  10. 10. PEST ANALYSIS 2. Economic  Business cycles marked by recessions & booms  Gross domestic product (GDP)  Real income  Inflation  Interest rates  Seasonal Variations
  11. 11. PEST ANALYSIS 3.Social & Cultural  Change in consumption pattern  Difference in life style  Two income families  Changing gender roles  Health & environmental issues  Religious Events
  12. 12. PEST ANALYSIS 4.Technological  Computer/internet usage  E-commerce  Change in lifestyle  Research Funding  Consumer Buying  Global Communications  Competition in Development of Technology
  13. 13. With the help of PEST Analysis we try to understand that how these external factors are affecting the organisation and can affect in coming future.

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