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Creating a Marketing Plan
Although the process is the same, different versions / levels
need to be prepared in practice.
What are the components of the marketing plan.
Each component – how to create it
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Essentials of a marketing plan
 SITUATION
 Under what circumstances the plan will operate and what are the
outcomes you have chosen to achieve.
 OUTCOMES AND CHOICES
 The main core strategies should be clear be clear regarding what
outcomes you expect and how you intend to work towards them. Strategy
means the choices that you have made regarding what objectives will you
work for and how will you deploy your resources towards these
objectives.
 ACTIVITIES : What are the “vital few” market-facing activities you will
undertake during the plan period and what outcomes you expect. For each
market / product it must be clear what will you plan to do and to what
extent.
 On an exploratory basis (Innovation and Experiments)
 Scale up (Invest and build because it seems to work )
 Harvest (maintain the level of activities but not to invest)
 Rejuvenate (re-innovate because things do not seem to work)
 Scale down (because it does not seem to work)Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
“What market are you in?”
 Your answers will determine the amount and type of analysis that you will
do in this section. Geographic market – specific regions of a country,
nationwide, global? What consumer market are you in? What mfg-
industry are you in ?
 Example : If your organization makes pencils, are you in the pencil
industry, the writing instrument industry, or the communication tools
industry?
 Once you have defined your market, you should gather the facts to answer
the following questions to describe your market. If you are operating in
several geographic markets that are sufficiently different, it may be helpful
to answer these questions for each geographic market. Continued ...
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
3 Components Of a Marketing Plan
 Marketing Strategy Plan
Focuses on your analysis of the marketing environment.
States the strategic choices (do’s and don’ts) made
Has top management and cross-functional perspective
 Marketing Operations Plan
Quantified and time-bound estimated impact of the above
How resources will be allocated
Schedules to be used by various departments for pacing
 Budgeting Information to Finance
Month wise market wise plot of cash in and out
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Many levels and versions of a Marketing Plan
 Purpose
 For boss’s approval
 For connecting with peers for cross functional collaboration
 For disseminating to own employees
 For quarterly / monthly review and correction
 Clearly identify
 Period : Full year 15-16
 Organizational Unit : ABC company’s Export division
 Market : Middle East
 Levels
 CEO makes division wise plans to the board
 Divisional Heads make product / plant / project / region wise plans
 Product makes plans for their own product
 Regional managers make plan for their own regions
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
)
)
)
STRATEGY
OPERATIONS
OUTCOMES
- Discover 5 Cs
- Diagnose Target Customer
- Design Positioning
- Designing Market Connection
- Deploy Resources
- Deliver Goals
WHAT SHOULD A MARKETING PLAN CONTAIN ?
A Marketing Plan should ideally have all three (1) Strategies (directional choices)
(2) Operations (Resource Allocations and Efforts) (3) Outcomes ( targets )
Siemens MDP – Feb 2013 – Confidential Material – Please do not copy – Contact Prof S K Palekar – sk.palekar@spjimr.org - 9821046013Axis Bank – Max New York Life – MDP – Nov 2011Novartis – Next Destination MDP – July 2012Pfizer MDP – Feb 2013Pfizer MDP – Feb 2013 – Confidential Material – Please do not copy – Contact Prof S K Palekar – sk.palekar@spjimr.org - 9821046-13Siemens MDP – Feb 2013 – Confidential Material – Please do not copy – Contact Prof S K Palekar – sk.palekar@spjimr.org - 9821046013
Decide tentative list of marketing objectives
 Scanning, interpreting and aligning with environment
 Tool 1 : Mechanism For Scanning PESTEL Factors
 PESTEL : “Political, Economic, Social, Technological, Ecological, Legal”
 Tool 2 : Collate The Data And Interpret It
 Take each and forecast impact on customer, company, competitor, collaborators
 Tool 3 : Insert Tentative Obj : Marketing Strategy Draft Plan
 Prioritizing between pulls from different stakeholders
 Tool 1 : Identify Trends, Compulsions, Opportunities
 For each party : customers, collaborators, competitors : environment / stakeholders
 Tool 2 : Current Status Vs Demands Of Stakeholders
 Benchmark (A) Competitors on stakeholder satisfaction (B) Expectations Survey
 Tool 3 : Insert Tentative Obj : Marketing Strategy Draft Plan
 All objectives may not be possible : shortlist for use
Market / Situation Analysis
Do not accept a marketing plan without this !
 Out of 5 Cs, 4 Cs can be identified: Company, Customers, Competitors and
Collaborators. Fifth C is “Context” : PESTEL
 Company : What are the main opportunities and compulsions that will
drive the company during the plan period ?
 Customers : Out of all the current / future customers in the market, who are
our target customers and what will drive their behaviour ?
 Competitors : Out of all the current / future competitors who are our
primary competitors and what is expected from them?
 Collaborators : Out of all the current / future collaborators, what will drive
their behaviour regarding support (or otherwise) to us?
 Context : Which PESTEL factors will impact our company, our customers,
our competitors and our collaborators and how ?
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Will you accept a travel plan without the planner
looking at the map, weather and travel mode alternatives?
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Check List for Situation analysis (5 Cs)
 You will need to decide based on your business the following parameters
 Macro environment (the big picture)
 Market (size, share, growth, segmentation, seasonality trends, etc.)
 Internal Trends (sales and cost analysis)
 Product or Service (description)
 Competition
 Consumer or Customer (segmentation, attitudes and behaviour)
 Distribution Channels (direct and indirect channels)
 Evaluation of Previous Marketing Initiatives
 Strengths, Weaknesses, Opportunities, and Threats
 Issues Analysis
 Remember
 Always state the source of information : internal, secondary sources such
as government, census information, public bodies and published reports.
 In addition to presenting the facts, answer the question, “what does this
mean to my business?”
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Check List for Customer Analysis
 Quantify each customer segment (or Key Account) by size, frequency,
profitability, and any other grouping that makes sense in your industry.
 Who are they? What are the demographics of your consumers?
 What products or services does each buy?
 How do they buy your products and services?
 Where do they buy your products and services?
 Why do they buy your products and services?
 What are their attitudes toward your product or service versus your
competitors’?
 For each of these questions, remember to ask the additional questions
“why” and “what are the implications for my business”. This information
comes from internal sales information and research
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Check List of Competition Analysis
Analysis of Key competitors / and Leading organizations
 Definitions : “Key competitors” provide product similar to ours and
target the same customers. “Leading organizations” are the largest, or
most profitable, or the most innovative. For each of these
 Their products - how do they differ from yours?
 How does their pricing and positioning compared to yours?
 What marketing activities do they use? How successful have they been?
 What are their strengths and weaknesses compared to yours?
 For each of these questions, remember to ask the additional questions
“why” and “what are the implications for my business”. This information
can be found in the competitive intelligence system if you have one or you
may need to gather this information specifically for the marketing plan.
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Check List of Connection (Channels) Analysis
 Characteristics of each distribution channel?
 Trends & new developments in each distribution channel?
 Strengths & Weaknesses of each distribution channel?
 How successful is your organization in each distribution channel?
 % sales does each distribution channel contribute to your business?
 How cost-effective is each distribution channel?
 Shares within each channel ?
 For each of these questions, remember to ask the additional questions
“why” and “what are the implications for my business.” If you use indirect
distribution channels, analyze your business within each key wholesaler
and retailer. In many organizations, this analysis is part of a separate sales
plan. This information can be found in the internal sales and financial
system and supplemented with industry reports and internal sources.
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Previous Marketing Initiatives
What worked and what did not
 Learnings from successes/ failures
 What were the quantifiable objectives for this initiative?
 Briefly describe the initiative.
 How did the initiative perform against the objectives?
 What was the key learning from this initiative?
 Recommendation : continue ? Discontinue ? Change ?
 This information can be found in the internal sales and financial system.
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Research and Evaluation
 Ways you will measure the overall objectives, summarizes the evaluation
tools you will use to track the effectiveness of the strategies and tactics,
and describes the research you will use to obtain any information that you
were unable to obtain for the situation analysis of this marketing plan.
List the research and evaluation methods, responsibility, timing, and cost.
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Financials
 A profit and loss statement.
 The marketing budget includes all the costs associated with the strategies
and tactics that fall in the marketing area of responsibility.
 The profit and loss statement essentially demonstrates the financial effect
of the initiatives in the marketing plan.
 It covers the business unit or product category that is the subject of the
marketing plan.
 Revenues include forecasted volume times average price. Expenses
include cost of sales, distribution, and marketing expenses (from the
marketing budget).
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Is this the first time ?
 If this is the first time your organization has prepared a marketing plan, it
may seem daunting. You may not have all of the pieces of information that
are listed in this article. Remember that this is a process and the
information and analysis will improve over time.
 First, find out what you information you already have and what you need to
obtain. Then, gather all the information you can for this year. If necessary,
pay for information that is important to you. For the information that you
are not able to obtain, either because of budget or because it would
require a research study, include it as a planned tactic in the research and
evaluation section of the marketing plan.
 There should be a person who leads the marketing planning process.
 The people to involve in the marketing planning process are those whose
areas of responsibility will be impacted by the marketing plan. Their
involvement will increase the success of the marketing plan
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
How does a marketing plan document help ?
 How does a marketing plan help you ?
 Provides structure and rigor to decision-making.
 Links deployment of budget / resources to purpose
 Gathers / distils learnings of the organization in one document
 Charts a path to achieve business objectives.
 Creates Objectives, strategies / sub-strategies for a timeframe
 A marketing plan answers the following questions
 Assumptions of ext / int environment you will operate under?
 Opportunities / Problems you are facing?
 Business objectives you expect to achieve?
 What exactly do you sell? To which customers?
 Why should they buy your product / service vs competitors’?
 How will you communicate with your customers?
 Who will do what, when?
 How will you measure your progress ?
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
Why should you create a marketing plan ?
 Greater discipline in the planning process
 Strategic direction for an organization / SBU
 Action plan for marketing-related activities
 Formal record of marketing-related decisions
 Back up for budget and internal resources
 Dialogue / Engage senior management
 Basis for cross-functional communication and buy-in
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
THANK YOU
Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
skpalekar@hotmail.com +9821046013
Thank YouThank You

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handout - marketing planning template - Dec 2014

  • 1. Creating a Marketing Plan Although the process is the same, different versions / levels need to be prepared in practice. What are the components of the marketing plan. Each component – how to create it Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 2. Essentials of a marketing plan  SITUATION  Under what circumstances the plan will operate and what are the outcomes you have chosen to achieve.  OUTCOMES AND CHOICES  The main core strategies should be clear be clear regarding what outcomes you expect and how you intend to work towards them. Strategy means the choices that you have made regarding what objectives will you work for and how will you deploy your resources towards these objectives.  ACTIVITIES : What are the “vital few” market-facing activities you will undertake during the plan period and what outcomes you expect. For each market / product it must be clear what will you plan to do and to what extent.  On an exploratory basis (Innovation and Experiments)  Scale up (Invest and build because it seems to work )  Harvest (maintain the level of activities but not to invest)  Rejuvenate (re-innovate because things do not seem to work)  Scale down (because it does not seem to work)Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 3. “What market are you in?”  Your answers will determine the amount and type of analysis that you will do in this section. Geographic market – specific regions of a country, nationwide, global? What consumer market are you in? What mfg- industry are you in ?  Example : If your organization makes pencils, are you in the pencil industry, the writing instrument industry, or the communication tools industry?  Once you have defined your market, you should gather the facts to answer the following questions to describe your market. If you are operating in several geographic markets that are sufficiently different, it may be helpful to answer these questions for each geographic market. Continued ... Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 4. 3 Components Of a Marketing Plan  Marketing Strategy Plan Focuses on your analysis of the marketing environment. States the strategic choices (do’s and don’ts) made Has top management and cross-functional perspective  Marketing Operations Plan Quantified and time-bound estimated impact of the above How resources will be allocated Schedules to be used by various departments for pacing  Budgeting Information to Finance Month wise market wise plot of cash in and out Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 5. Many levels and versions of a Marketing Plan  Purpose  For boss’s approval  For connecting with peers for cross functional collaboration  For disseminating to own employees  For quarterly / monthly review and correction  Clearly identify  Period : Full year 15-16  Organizational Unit : ABC company’s Export division  Market : Middle East  Levels  CEO makes division wise plans to the board  Divisional Heads make product / plant / project / region wise plans  Product makes plans for their own product  Regional managers make plan for their own regions Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 6. ) ) ) STRATEGY OPERATIONS OUTCOMES - Discover 5 Cs - Diagnose Target Customer - Design Positioning - Designing Market Connection - Deploy Resources - Deliver Goals WHAT SHOULD A MARKETING PLAN CONTAIN ? A Marketing Plan should ideally have all three (1) Strategies (directional choices) (2) Operations (Resource Allocations and Efforts) (3) Outcomes ( targets )
  • 7. Siemens MDP – Feb 2013 – Confidential Material – Please do not copy – Contact Prof S K Palekar – sk.palekar@spjimr.org - 9821046013Axis Bank – Max New York Life – MDP – Nov 2011Novartis – Next Destination MDP – July 2012Pfizer MDP – Feb 2013Pfizer MDP – Feb 2013 – Confidential Material – Please do not copy – Contact Prof S K Palekar – sk.palekar@spjimr.org - 9821046-13Siemens MDP – Feb 2013 – Confidential Material – Please do not copy – Contact Prof S K Palekar – sk.palekar@spjimr.org - 9821046013 Decide tentative list of marketing objectives  Scanning, interpreting and aligning with environment  Tool 1 : Mechanism For Scanning PESTEL Factors  PESTEL : “Political, Economic, Social, Technological, Ecological, Legal”  Tool 2 : Collate The Data And Interpret It  Take each and forecast impact on customer, company, competitor, collaborators  Tool 3 : Insert Tentative Obj : Marketing Strategy Draft Plan  Prioritizing between pulls from different stakeholders  Tool 1 : Identify Trends, Compulsions, Opportunities  For each party : customers, collaborators, competitors : environment / stakeholders  Tool 2 : Current Status Vs Demands Of Stakeholders  Benchmark (A) Competitors on stakeholder satisfaction (B) Expectations Survey  Tool 3 : Insert Tentative Obj : Marketing Strategy Draft Plan  All objectives may not be possible : shortlist for use
  • 8.
  • 9. Market / Situation Analysis Do not accept a marketing plan without this !  Out of 5 Cs, 4 Cs can be identified: Company, Customers, Competitors and Collaborators. Fifth C is “Context” : PESTEL  Company : What are the main opportunities and compulsions that will drive the company during the plan period ?  Customers : Out of all the current / future customers in the market, who are our target customers and what will drive their behaviour ?  Competitors : Out of all the current / future competitors who are our primary competitors and what is expected from them?  Collaborators : Out of all the current / future collaborators, what will drive their behaviour regarding support (or otherwise) to us?  Context : Which PESTEL factors will impact our company, our customers, our competitors and our collaborators and how ? Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014 Will you accept a travel plan without the planner looking at the map, weather and travel mode alternatives?
  • 10. Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 11. Check List for Situation analysis (5 Cs)  You will need to decide based on your business the following parameters  Macro environment (the big picture)  Market (size, share, growth, segmentation, seasonality trends, etc.)  Internal Trends (sales and cost analysis)  Product or Service (description)  Competition  Consumer or Customer (segmentation, attitudes and behaviour)  Distribution Channels (direct and indirect channels)  Evaluation of Previous Marketing Initiatives  Strengths, Weaknesses, Opportunities, and Threats  Issues Analysis  Remember  Always state the source of information : internal, secondary sources such as government, census information, public bodies and published reports.  In addition to presenting the facts, answer the question, “what does this mean to my business?” Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 12. Check List for Customer Analysis  Quantify each customer segment (or Key Account) by size, frequency, profitability, and any other grouping that makes sense in your industry.  Who are they? What are the demographics of your consumers?  What products or services does each buy?  How do they buy your products and services?  Where do they buy your products and services?  Why do they buy your products and services?  What are their attitudes toward your product or service versus your competitors’?  For each of these questions, remember to ask the additional questions “why” and “what are the implications for my business”. This information comes from internal sales information and research Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 13. Check List of Competition Analysis Analysis of Key competitors / and Leading organizations  Definitions : “Key competitors” provide product similar to ours and target the same customers. “Leading organizations” are the largest, or most profitable, or the most innovative. For each of these  Their products - how do they differ from yours?  How does their pricing and positioning compared to yours?  What marketing activities do they use? How successful have they been?  What are their strengths and weaknesses compared to yours?  For each of these questions, remember to ask the additional questions “why” and “what are the implications for my business”. This information can be found in the competitive intelligence system if you have one or you may need to gather this information specifically for the marketing plan. Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 14. Check List of Connection (Channels) Analysis  Characteristics of each distribution channel?  Trends & new developments in each distribution channel?  Strengths & Weaknesses of each distribution channel?  How successful is your organization in each distribution channel?  % sales does each distribution channel contribute to your business?  How cost-effective is each distribution channel?  Shares within each channel ?  For each of these questions, remember to ask the additional questions “why” and “what are the implications for my business.” If you use indirect distribution channels, analyze your business within each key wholesaler and retailer. In many organizations, this analysis is part of a separate sales plan. This information can be found in the internal sales and financial system and supplemented with industry reports and internal sources. Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 15. Previous Marketing Initiatives What worked and what did not  Learnings from successes/ failures  What were the quantifiable objectives for this initiative?  Briefly describe the initiative.  How did the initiative perform against the objectives?  What was the key learning from this initiative?  Recommendation : continue ? Discontinue ? Change ?  This information can be found in the internal sales and financial system. Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 16. Research and Evaluation  Ways you will measure the overall objectives, summarizes the evaluation tools you will use to track the effectiveness of the strategies and tactics, and describes the research you will use to obtain any information that you were unable to obtain for the situation analysis of this marketing plan. List the research and evaluation methods, responsibility, timing, and cost. Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 17. Financials  A profit and loss statement.  The marketing budget includes all the costs associated with the strategies and tactics that fall in the marketing area of responsibility.  The profit and loss statement essentially demonstrates the financial effect of the initiatives in the marketing plan.  It covers the business unit or product category that is the subject of the marketing plan.  Revenues include forecasted volume times average price. Expenses include cost of sales, distribution, and marketing expenses (from the marketing budget). Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 18. Is this the first time ?  If this is the first time your organization has prepared a marketing plan, it may seem daunting. You may not have all of the pieces of information that are listed in this article. Remember that this is a process and the information and analysis will improve over time.  First, find out what you information you already have and what you need to obtain. Then, gather all the information you can for this year. If necessary, pay for information that is important to you. For the information that you are not able to obtain, either because of budget or because it would require a research study, include it as a planned tactic in the research and evaluation section of the marketing plan.  There should be a person who leads the marketing planning process.  The people to involve in the marketing planning process are those whose areas of responsibility will be impacted by the marketing plan. Their involvement will increase the success of the marketing plan Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 19. How does a marketing plan document help ?  How does a marketing plan help you ?  Provides structure and rigor to decision-making.  Links deployment of budget / resources to purpose  Gathers / distils learnings of the organization in one document  Charts a path to achieve business objectives.  Creates Objectives, strategies / sub-strategies for a timeframe  A marketing plan answers the following questions  Assumptions of ext / int environment you will operate under?  Opportunities / Problems you are facing?  Business objectives you expect to achieve?  What exactly do you sell? To which customers?  Why should they buy your product / service vs competitors’?  How will you communicate with your customers?  Who will do what, when?  How will you measure your progress ? Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 20. Why should you create a marketing plan ?  Greater discipline in the planning process  Strategic direction for an organization / SBU  Action plan for marketing-related activities  Formal record of marketing-related decisions  Back up for budget and internal resources  Dialogue / Engage senior management  Basis for cross-functional communication and buy-in Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014
  • 21. THANK YOU Prof S K Palekar prepared this for academic purposes and limited circulation : Oct 2014