This document provides an outline for a strategic marketing plan, describing the key sections it should contain. It begins by outlining 10 sections that every strategic marketing plan should include:
1. Management Summary
2. Economic Projections
3. The Market - Qualitative
4. The Market - Quantitative
5. Trend Analysis
6. Competition
7. Threats and Opportunities
8. Objectives and Goals
9. Action Programs
10. Conclusion
It then discusses guides for developing the strategic marketing plan, including defining the business mission, analyzing competitors, performing a situational assessment using SWOT and PESTEL, specifying a market position, and focusing on
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Before 1900, despite its weaknesses in effective management of worke.pdfarishaenterprises12
Before 1900, despite its weaknesses in effective management of workers, manufacturing
leadership was well provided by top management. They were technological entrepreneurs,
archictects of productive systems, veritable lions of industry. But when they delegated their
production responsibilities to a second-level department, the factory institution never recovered
its vitality. The lion was tamed. It\'s management systems became protective and generally were
neither enterpreneual nor strategic. Production managers since then have typically had little to do
with initiating substantially new process technology-in contrast to their predecessors before 1900
(skinner 1985).
D) how is Japan (or Germany) different from (or the same as) America with regards to this trend
in manufacturing leadership?
E) taking the structural charestaristics of manufacturing enterprises (e.g., scale, complexity, pace
of technological change) as given, what can be done to revitalize manufacturing leadership?
Solution
Strategic Windows: their nature.
The nature and purpose of strategy and how it is formulated. The nature of marketing strategy
and how this should take account of the interests of various stakeholders when involving such
things as, product/service development and delivery, promotional mix, support services,
manufacturing and production processes, R&D, and material purchasing affect the stakeholders.
Other factors in the business environment that influence marketing strategy: political, economic,
socio-cultural and technological (PEST).
Marketing and competitors: how a firm must be able to position itself competitively in the minds
of its customers so that its products and services stand out very favourably in important respects
in relationship to competitors.
Matching the firm’s products / services with opportunities and threats in the market place. The
limited periods during which the fit between the key requirements of a market and the particular
competencies of a firm competing in that market are at an optimum. Investment in a product line
or a market area should be timed to coincide with periods during which a strategic window is
open. Correspondingly, withdrawal should be considered where something which was a good fit,
is no longer a good fit. Ways in which a market can evolve and how firms might develop a
competitive strategy to take advantage of Strategic Windows.
Portfolio Analysis
How organisations create their own environments rather than simply adapt to existing ones. How
they select the strategic windows of opportunities and threats through which they want to look
out into the world and develop and market product and services to meet the needs of what they
observe to be required in the face of environmental turbulence.
How well the fit between an organization’s products/services meet the needs presented by the
windows of opportunities and threats is a fitting start for exploring the subject of strategic
marketing. It introduces the many factors t.
Introduction to performing an assessment of your company's product management...CompellingPM
The Product Management and Product Marketing Roles are some of the most strategically important roles in an organization and when well executed, can help the organization consistently deliver products and services that are successful in the market and result in increased revenue, market share and profitability. But unfortunately, these are also some of the most misunderstood roles and too often are relegated to tactical duties and miss out on delivering the strategic value and impact that they could deliver to the organization.
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The starting point is to do an Assessment of Your Product & Market Management Practices.
Chapter 2 Developing Marketing Strategies and PlansNishant Agrawal
Developing Marketing Strategies and Plans
Value Delivery Process
What is the Value Chain?
Core Business Processes
Core Competencies
What is Holistic Marketing?
Levels of a Marketing Plan
Corporate Headquarters Planning Activities
Better Business Planning: Your Comprehensive Guide to Building Success
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Introducing Superior Business Planning —How to Develop a Successful Business Plan. Inside this eBook, you will discover the topics about business planning basics, market evaluation, analyze competition, determine a marketing strategy, decide what extras you may need like staff etc and the dangers in not making a business plan.
There should be an executive summary of less than two pages at the
start of the business plan which sells the plan and highlights its
features.
A company summary should be included containing a factual
description of the company, its owners and history. There needs to be
a section referring to products and or services and their points of
difference in the market.
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
1. FIRST PART OF “LEARN, DO, GROWTH”
The Strategic Marketing Planning process describes the direction an organization will pursue within its
chosen environment and guides the allocation of resources and efforts.
First of all, I summarize the key content every strategic marketing plan should contain and then I´m going
to introduce some guides to work in it making up process.
Marketing Plan Outline
I. MANAGEMENT SUMMARY
What is the marketing plan in brief?
This is a brief summary of the basic factors involving the marketing of the brand for the next three years
along with the main results expected from implementing the plan.
II. ECONOMIC PROJECTIONS
What factors in the overall environment will affect the marketing plan and how?
This section will comprise a summary of the specific environment factors that will affect the marketing
of the brand throughout next years.
III. THE MARKET- Qualitative
How is our market? Movements and main trends
Find your perfect equilibrium
2. This section will define the qualitative nature of our market. It will include demographic information,
business profiles, consumer and prospects profiles, for all people or organizations that could be
customers.
IV. THE MARKET - Quantitative
What is the potential market for the brand?
This section will apply specific quantitative measures to our brand. Here we include numbers of current
and potential customers, volume of business, market growth, our current and potential share of the
market, markets size, - any specific measures that will outline our business.
V. TREND ANALYSIS
Based on the history of main movements and past trends, where do we appear to be headed?
This section is a review of the market and the brand in the past. Ideally, we should include
quarterly figures for the last five years showing business volume, accounts opened, accounts
closed, share of market, competition actions, new market players and all other applicable historical data.
VI. COMPETITION
Who are our competitors and how do we stand competitively?
This section should define our current and future competition. It should be a thoughtful analysis outlining
who our competitors are, how successful they are, why they have (or have not) been successful, and
what actions they might be expected to take during the next years.
VII. THREATS AND OPPORTUNITIES
Internally and externally, are there threats inhibiting the brand, or are there opportunities we have not
taken advantage of?
This section will comprise a frank commentary on both inhibiting threats and unrealized opportunities. It
should include a discussion on the internal and external problems we can control, for example, by
changes in policies or operational procedures. It should also point up areas of opportunity that we are not
now exploiting.
VIII. OBJECTIVES AND GOALS
Where do we want to go with the brand?
This section will outline the immediate short and long-range objectives.
Short-range goals should be specific, and will apply to next year. Long-range goals will necessarily be less
specific and should project for the next five years. Objectives should be stated in two forms:
1. qualitative - reasoning behind the offering of brand and what modifications or other changes we expect
to make.
2. quantitative - number of accounts, sales volume, share of market, profit goals, new business,
launches, subsidiaries, among others.
IX. ACTION PROGRAMS
What must we do to reach the goals we have set for the brand?
This section will be a description of the specific actions we plan to take during the coming year to assure
reaching the objectives we have set for the brand in VIII.
It should cover what is to be done, schedules for completion, methods of evaluation, and officers in
charge of executing the program and measuring results.
3. X. CONCLUSION
How much, how many, when, where and how
This section should include a brief summary of the suggested marketing plan with focus on results.
Strategic Planning Process
In order to build the strategic marketing plan, I suggest some guides and tools to clarify the right
approach.
Let´s start defining the Business Mission
Mission
Organizational mission refers to the organization’s fundamental purpose for existing, defining who the
organization is, it vision, its values, and the customers it wishes to serve.
Organizations can establish missions that are either broad or narrow, but it’s important to establish a
mission with the greatest likelihood of success in a competitive marketplace.
Life is not about all the steps you have taken,
it´s about the footprints you leave behind
4. Folowing the analysis, let´s identify which are our main competitors and benchmarks
Just analyze their main strengths and weaknesses, their star products and services, try to obtain figures
of their market (volume sales, market share, profits, among others), which is their main target, last
applied actions and market activities and make an effort trying to identify their next steps in strategic
terms
Let´s go to analize the competitive environment
This analysis provides a perspective on the cost of competing and on the bases around which the
competition will occur. A major focus of the competitive analysis is also to assess the degree to which
competition is cost-based.
Knowing what we want to be and which are our main competitors, analyze your internal and external
forces: Situational Assessment.
5. The Situational Assessment is an analysis of the organization’s environment and of the organization
itself. This process is referred to as the SWOT analysis (so named because it examines the Strengths
and weaknesses of the organization in a micro-environment, as well as the Opportunities and Threats
relevant to the organization’s future strategy – macro-environment).
It is at this stage in the process where the organization must consider the economic, competitive,
regulatory, social, and technological changes occurring in the marketplace: The PESTEL Analysis
With this situational analysis, it is important for the organization to consider the barriers that exist in the
marketplace. Barriers to entry might be regulatory, technological, financial, or strategic. In the same
regard, the organization must also consider the barriers to exit, or the costs of leaving a particular
business line.
Within this situational analysis, an organization must also consider its own strengths and weaknesses.
At this point, an organization should assess what it does that is better than the competition and gives it
a differential advantage, which has been defined as the incremental benefits of a product relative to
competing products that are important to the buyer as perceived by the buyer. This analysis and
specification of the differential advantage are based on the core competencies of the firm that are
critical to success.
Most important: Make´s the difference
There are four important criteria that are the hallmarks of a good differential advantage:
1. Valuable: First a differential advantage must be important to the buyer. A myriad of processes and
elements are essential in the delivery of high-quality product/service, but if they are not important to the
buyer it is not a differential advantage.
2. Memorable: when an organization has elements that it considers the market would view as important,
the requirement then is to ensure that these advantages are emotional perceived throughout exclusive
experiences.
3. Uniqueness: A third important component of a differential advantage is that it must be unique from
other providers.
4. Sustainable: for some period of time.
6. The management of these values - both visible and invisible ones - has been referred to as Evidence
Management. Evidence management is an organized and explicit approach to presenting the
organization’s capabilities to the customer.
The third step is to specify the Market Position
Your company must decide which one of several market positions it will take. The options are to be a
market leader, market challenger, market follower, or a market niche.
Within a single industry, one organization usually tries to be the market leader - the firm that has the
largest market share and dominates the competitors in a given market. This leader dictates the pricing
strategies of its competitors and is the first to introduce new products. The market leader defends its
position against all new entries and will seek to expand the market or expand its current market share.
A second market position is that of being the market challenger - the firm that attempts to confront the
market leader. These companies tend to be smaller than the market leaders, but aggressive in their
strategy formulation. They attack the market leader, either through directly vying for the leader’s
customers, or by trying to attract customers or market segments where the market leader is weak. A
market challenger can follow several approaches that might involve any one or more of the marketing mix
elements, such as price cutting, less costly product alternatives, an improved distribution strategy, or a
novel promotional approach.
A market follower is a business that competes in the marketplace by following the market leader rather
than by attacking it directly. These companies try to maintain existing customers and attract new ones.
In industries where there is little product differentiation and high price sensitivity, a follower strategy is
often useful. By implementing this approach, an organization tries to prevent aggressive price
competition. It will gain new customers by offering a quality service at a good value.
A final market position that a firm may try to create is that of a market niche, which it achieves by
following a strategy of targeting a narrow segment or segments in a large market with specialized
products or services. This is a common approach for many small, successful companies.
Make your beliefs come true. Be authentic
7. We will continue the article next Sunday, just the last part. Enjoy the week.
Kisses,