Marketing Planning

The Importance of planning
1. Strategic or overall corporate planning
  1. The general objectives of the business
  2. The Corporate Mission
  3. The present and proposed marketis
  4. Plans for growth and acquisition
2. Functional plans
  1. Short term corporate objectives
The benefits of planning orientation
1. Effective Communication
2. Motivates
3. Leads to better decisions
4. favourable attitude towards change
5. enables standards of performance
6. Issues:
  1. Top management not committed
  2. plan cannot be supported with current resources
  3. Using wrong measures for success
  4. Becomes a mindless ritual
  5. Senior staff battle with lower staff for input
  6. Some departments withold information
Corporate Planning and marketing planning
1. Marketing planning
  1. Annual process
2. Corporate planning
  1. Long term nature
Applying strategic planning/management tools
1. Porters 3 types of strategy
  1. Overall cost leadership
  2. Differentiation
  3. Focus
The nature of strategic planning
1. Market Penetration
  1. Used when a company attempts to increase market share in their current market
    1. Increasing the spend of current customers and acquiring new ones
2. Market Development
  1. Look for new markets whose needs may be met by existing products
3. Product Development
  1. Developing new features for existing products
    1. Add value and attract a premimum price
4. Diversification
  1. Developing new products for new markets
5. Requires
  1. Measuring the strengths and weaknesses of the company
  2. Defining the companies proposed business or businesses
  3. Establishing economic and social objectives
  4. Identifying constraints
  5. Evaluating long term potential
  6. Selecting those opps that give the firm a competitive advantage
  7. Handling allocation of firms resources
  8. Monitoring the environment for changes
The relationship between marketing and strategic planning
1. Both refer to new markets for the company
2. Both refer to new missions and products
3. Both establish financial and other targets
4. The strategic plan is the long term marketing plan
  1. Consists of
    1. Mission statement
    2. Financial Summary
    3. Market overview
    4. SWOT
    5. Assumptions
    6. Marketing objectives and strategies
    7. Programmes with forecasts and budgets
  2. Broken down into functional lines
Using a marketing plan
1. Delivery strategies and achieving objectives- at the end of the planning process there should be a document detailing:
  1. Roles and responsibilities
  2. Technology/tools needed
  3. Tactical requirements
  4. Measurement criteria
  5. The budget
  6. Staffing requirements
2. Implementing a marketing project
  1. Use a "project bible"
    1. Details all those involved
    2. Have a contingency plan
3. Monitoring a timeline progress
  1. To meet objectives and strategic deadlines
  2. Add to an intranet so all involved can see
  3. Regular meetings
Managing Implementation
1. Resource Management
  1. Human
  2. Physical
    1. Technology Resources
2. Measurement
  1. Time: Is it running to schedule?
  2. Budget- Is it on budget?
  3. Objectives/Strategies- is the plan working to achieve them?
  4. Behnchmarks for implementation success will be established
  5. Good plans facilitate control
  6. Possible reasons for plans not meeting objectives:
    1. The premise the plans were based on is false
    2. The objectives were correct and the plans were wrong
    3. No contingency plan was in place
Different stages of the planning process
1. Corporate Objectives
  1. Marketing Audit
    1. Setting business and marketing objectives
      1. Marketing Strategies
        Marketing Tactics
        Implimentation
        Monitor and control

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Marketing Planning

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	Created by james.bowditch about 11 years ago