Marketing Planning

Annotations:

• The process by which businesses analyse the environment and their capabilities, decide upon courses of marketing action and implement those decisions.

1. The fundamentals of Planning
   1. 1. Where are we now?
   2. 2. How did we get here?
   3. 3. Where are we heading?
   4. 4. Where would we like to be?
   5. 5. How do we get there?
   6. 6. Are we on course?
2. The process of marketing planning

   Annotations:

   • Business mission > Marketing audit > SWOT analysis > Marketing objectives > Core strategy > Competitive advantage > Marketing mix decisions > Organisation and implementation > Control
3. Business Mission

   Annotations:

   • A broadly defined, enduring statement of purpose that distinguishes a business from others of its type. Should be:   Realistic   Specific   Based on distinctive competencies   Motivating and inspirational
   1. What business are we in?
   2. What business do we want to be in?
   3. 3 major characteristics
      1. Focus on limited goals
      2. Stress major policies and values
      3. Define competitive spheres to operate in
4. Marketing Audit

   Annotations:

   • A systematic examination of a business's marketing environment, objectives, strategies and activities, with a view to identifying key strategic issues, problem areas and opportunities.
   1. Internal Environment

      Annotations:

      • Areas that are under the control of marketing management.
      1. Checklist
         1. Operating results

            Annotations:

            • Sales Market share Profit margins Costs
         2. Strategic issues analysis

            Annotations:

            • Marketing objectives Market segmentation Competitive advantage Core competences Positioning Portfolio
         3. Marketing mix effectiveness

            Annotations:

            • Product Price Promotion Distribution (Place)
         4. Marketing structures

            Annotations:

            • Marketing organisation Marketing training Intra- and interdepartmental communication
         5. Marketing systems

            Annotations:

            • Marketing information systems Marketing planning system Marketing control system
   2. External Environment

      Annotations:

      • Forces over which management has no control
      1. Checklist
         1. Macroenvironment
            1. Political/legal
            2. Economic
            3. Ecological/Physical
            4. Technological
            5. Social/Cultural
         2. Microenvironment
            1. Customers
            2. Distributors
            3. Suppliers
            4. Competitors
5. SWOT Analysis
   1. Strengths
   2. Threats
   3. Opportunities
   4. Weaknesses
6. Marketing Objectives
   1. Strategic Thrust
      1. Marketing Penetration

         Annotations:

         • Take the existing product in the existing market and attempt increased penetration.
      2. Product Development

         Annotations:

         • Increasing sales by improving present products or developing new products for current markets.
      3. Market Development

         Annotations:

         • Used when products are sold in new markets. This may involve moving into new geographical markets.
      4. Entry into new markets

         Annotations:

         • Occurs when new products are developed for new markets. Most risky but may be necessary when a company's current products and markets offer few prospects for future growth.
   2. Strategic Objectives
      1. 1. Build
      2. 2. Hold
      3. 3. Harvest
      4. 4. Digest
7. Core Strategy
   1. Target markets
   2. Competitor targets

      Annotations:

      • The organisations against which a company chooses to compete directly
   3. Competitive advantage

      Annotations:

      • The achievement of superior performance
8. Implementing the marketing plan
   1. Marketing mix decisions
   2. Organisation and implementation
   3. Control systems
   4. Rewards of marketing planning
      1. 1. Generates consistency
      2. 2. Encourages the monitoring of change
      3. 3. Encourages organisational adaptation
      4. 4. Stimulates achievement
      5. 5. Facilitates resource allocation
      6. 6. Promotes the search for sources of competitive advantage
   5. Problems in making planning work
      1. Political
      2. Costs
      3. Reward systems
      4. Information
      5. Culture
      6. Personality clashes
      7. Lack of knowledge and skills