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Comprehensive Market Planning: Analyzing Situations and Setting Effective Strategies

This chapter delves into the essentials of market planning, focusing on situation analysis as a crucial first step. It covers various company, competitor, and customer issues using models like Porter’s Five Forces and SWOT analysis. The chapter emphasizes the importance of the marketing mix, including product, place, promotion, and price. It highlights setting clear marketing objectives and goals, alongside practical budgeting and estimating profitability. Finally, it discusses the importance of metrics in strategy control and decision-making regarding under-performing products.

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Comprehensive Market Planning: Analyzing Situations and Setting Effective Strategies

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Presentation Transcript

  1. Product Planning Chapter 8

  2. Market Planning • Two major streams of activities • Situation analysis • Company issues • Competitor issues • Customer issues • Marketing mix elements • Product • Place • Promotion • Price

  3. Situation Analysis • Industry analysis (Michael Porter, 1980) • Five forces model • Competitor analysis • Immediate and potential competitors • Four levels of competition (Exhibit 8.4, p. 141) • Their most likely response to your action (Don Lehmann, 1997) • Company analysis • Often a SWOT analysis is used • Example Kahn p. 145

  4. Situation Analysis • Customer Analysis • Market segments • Multiple ways to segment a market • Describe the segments • Eight general questions (Kahn, p. 150) • Sales Analysis • Focuses on intra-company data

  5. Marketing Objectives • Objectives are general statements of what the company wants to be or achieve • Examples – to be a market leader, to remain profitable, to excel in customer service • Goals are more specific and linked to benchmark measures • Examples – to increase sales by 10% next year, to introduce 4 new products next year

  6. Product Issues • Positioning • Product attributes • Branding • Packaging

  7. Place (Distribution) • Channel type • Channel structure • Distribution strategy • Physical distribution/transportation

  8. Promotion Issues • Advertising • Publicity • Personal selling • Special promotions

  9. Pricing Issues • Pricing strategy • Bases for price calculation

  10. Estimating the Budget • Examine expected revenues and expected costs (providing some measure of expected pre-tax profitability) by year • Utilize company benchmarks • Time value of money • ATAR model from Chapter 6

  11. Marketing Strategy Control • Benchmarks and Metrics to assess progress toward the strategy • For under-performing products, is the problem fixable or should it be withdrawn from the market

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