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Marketing Planning

Marketing Planning. The structured process of researching and analyzing the current situation, including markets and customers; developing and documenting marketing’s objectives, strategies, and programs; and implementing, evaluating, and controlling activities to achieve the objectives.

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Marketing Planning

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  1. Marketing Planning The structured process of researching and analyzing the current situation, including markets and customers; developing and documenting marketing’s objectives, strategies, and programs; and implementing, evaluating, and controlling activities to achieve the objectives.

  2. Marketing Plan A written document that contains the guidelines for a profit center’s marketing programs and allocations over a planning period.

  3. Strategic vs. Marketing Planning • Strategic Planning • Formulated at the highest levels in an organization • Objectives are broad • Very general • Long time horizon • Marketing Planning • Formulated at the profit center level • Has specific objectives • Shorter time horizon

  4. Objectives of a Marketing Plan • Define the current situation facing the product (with background info) • Define problems and opportunities facing the organization • Establish objectives • Define the strategies and programs necessary to achieve the objectives • Assign responsibility for achieving the objectives • Promote thoughtful and directed thinking • Establish a market orientation

  5. Elements of a Good Planning System • Utilizes experience from several managerial levels • Employs a variety of internal and external sources of information • Covers a period of time sufficient to collect and analyze the data necessary for developing the marketing strategies

  6. The Planning Process* • Planning • Analysis • Objectives • Strategies • Implementing • Evaluating *Cyclical, not sequential or static

  7. Steps in the Process • Update/collect historical data • Collect current situation data • Analyze all data • Develop objectives, strategies, programs • Develop financial documents • Negotiate final plan • Measure progress toward objectives • Audit

  8. Parts of the Marketing Plan • Executive Summary • Situation Analysis • Market/Competitor Definition • Market Analysis • Company and Competitor Analysis • Customer Analysis • Planning Assumptions • Objectives • Product/Brand Strategy • Supporting Marketing Programs (Implementation) • Financial Documents • Monitors and Controls • Contingency Plans

  9. Situation Analysis • Market analysis • Demographics • Needs • Trends • Growth • SWOT analysis • Internal Strengths and Weaknesses • External Opportunities and Threats • Competitive analysis

  10. Situation Analysis (Cont.) Other components • Key Success Factors (KSFs) • Critical issues • Channels • Macroenvironment

  11. Other Things that Might be Included in a Marketing Plan • Background, experience, and responsibilities of the management team • Specialized asset descriptions • Location analysis • Key personnel • Anything that is crucial to the strategy

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