Strategic Marketing Planning
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Chapter 1 Strategic Marketing Planning
Strategic Market Planning Identifying or establishing an organizational mission, corporate strategy, marketing goals, & objectives, marketing strategy & a marketing plan.
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
What is the marketing plan?
A written document that provides the blueprint or outline of the organization’s marketing activities – Implementation – Evaluation – Control
Represents a “road map” or handbook for implementing the marketing strategy and achieving its objectives Specify resource allocation, responsibilities of individuals and timing of marketing activities.
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Plan (contd) It also detailed formulation of the actions necessary to carry out marketing program Marketing plan can be developed for specific element of marketing mix e.g. product development plan or for all the elements of the marketing mix depending on the requirement
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
The Marketing Plan (contd) Serves to communicate key information to top management & line employees Is an engaging and worthwhile organizational process Is prepared by the marketing dept. and approved by the President or CEO Is usually developed annually
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing plan (contd) Above all it is the mechanism for synchronization, that allow management to align organizational objectives with marketing objectives.
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Key Purposes of the Marketing Plan Explains the present & future organizational situation Determines anticipated outcomes Determines specific actions & who is responsible Identifies resource needs Permits monitoring & control systems COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
The Strategic Marketing Planning Process Situation analysis SWOT analysis Determine organizational mission, goals & objectives Develop business unit strategies Provide for implementation, evaluation & control COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Mission Statements... Address the issue of “what business we are in” Represent cleat and concise statements that explain the reason for being In contrast, vision statements deal with aspirations COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Mission Statements Address 5 Issues... Who are we? Who are our customers? What is our operating philosophy? (for example, beliefs, values, ethics, etc.) What are our core competencies or competitive advantages? What are our concerns & interests related to our employees, community, social issue or the environment? COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Concerns About Mission Statements If they are too broad, they are meaningless Overly narrow statements constrain the vision of the company Mission statements should be changed less frequently than other components of the strategic plan
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Issues to Consider in Corporate or Business Unit Strategy... Competition Differentiation Diversification Coordination of Business Units Environmental Issues
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Objectives... Must be consistent with organizational goals Should be expressed in clear and simple terms Should be expressed in units of measurement – profitability – gain in market share – customer awareness levels COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Strategy... Involves selecting one or more target markets then developing a marketing mix (product, price, promotion & distribution) that satisfies the needs and wants of the target market
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Strategy Must… Fit the needs and purposes of the selected target market Be realistic given the organization’s resources and environment Be consistent with the organizations mission, goals & objectives COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Implementation & Control
Implentation is the execution of the marketing strategy Requires a customer focus Must be coordinated with all functional areas of the organization (product, R&D, human resources, etc.) Evaluation and control serves as the beginning point for the next planning cycle
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Strategic Planning in the Customer-Oriented Organization
Focuses on what buyers want Uses relationship marketing to build long-term, mutually beneficial relationships Develops & responds to marketing intelligence systems Decentralizes decision making (> feedback) Values marketing in the firm Uses the strategic planning process to build commitment
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Examples of Customer-Oriented Organizations Pet Smart Autozone Saturn Dillards Amazon.com FedEx COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Strategic Market Planning Identifying or establishing an organizational mission, corporate strategy, marketing goals, & objectives, marketing strategy & a marketing plan.
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
What is the marketing plan?
A written document that provides the blueprint or outline of the organization’s marketing activities – Implementation – Evaluation – Control
Represents a “road map” or handbook for implementing the marketing strategy and achieving its objectives Specify resource allocation, responsibilities of individuals and timing of marketing activities.
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Plan (contd) It also detailed formulation of the actions necessary to carry out marketing program Marketing plan can be developed for specific element of marketing mix e.g. product development plan or for all the elements of the marketing mix depending on the requirement
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
The Marketing Plan (contd) Serves to communicate key information to top management & line employees Is an engaging and worthwhile organizational process Is prepared by the marketing dept. and approved by the President or CEO Is usually developed annually
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing plan (contd) Above all it is the mechanism for synchronization, that allow management to align organizational objectives with marketing objectives.
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Key Purposes of the Marketing Plan Explains the present & future organizational situation Determines anticipated outcomes Determines specific actions & who is responsible Identifies resource needs Permits monitoring & control systems COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
The Strategic Marketing Planning Process Situation analysis SWOT analysis Determine organizational mission, goals & objectives Develop business unit strategies Provide for implementation, evaluation & control COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Mission Statements... Address the issue of “what business we are in” Represent cleat and concise statements that explain the reason for being In contrast, vision statements deal with aspirations COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Mission Statements Address 5 Issues... Who are we? Who are our customers? What is our operating philosophy? (for example, beliefs, values, ethics, etc.) What are our core competencies or competitive advantages? What are our concerns & interests related to our employees, community, social issue or the environment? COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Concerns About Mission Statements If they are too broad, they are meaningless Overly narrow statements constrain the vision of the company Mission statements should be changed less frequently than other components of the strategic plan
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Issues to Consider in Corporate or Business Unit Strategy... Competition Differentiation Diversification Coordination of Business Units Environmental Issues
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Objectives... Must be consistent with organizational goals Should be expressed in clear and simple terms Should be expressed in units of measurement – profitability – gain in market share – customer awareness levels COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Strategy... Involves selecting one or more target markets then developing a marketing mix (product, price, promotion & distribution) that satisfies the needs and wants of the target market
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Strategy Must… Fit the needs and purposes of the selected target market Be realistic given the organization’s resources and environment Be consistent with the organizations mission, goals & objectives COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Marketing Implementation & Control
Implentation is the execution of the marketing strategy Requires a customer focus Must be coordinated with all functional areas of the organization (product, R&D, human resources, etc.) Evaluation and control serves as the beginning point for the next planning cycle
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Strategic Planning in the Customer-Oriented Organization
Focuses on what buyers want Uses relationship marketing to build long-term, mutually beneficial relationships Develops & responds to marketing intelligence systems Decentralizes decision making (> feedback) Values marketing in the firm Uses the strategic planning process to build commitment
COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
Examples of Customer-Oriented Organizations Pet Smart Autozone Saturn Dillards Amazon.com FedEx COPYRIGHT © 2002 Thomson Learninc, Inc. All rights reserved. .
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