UNIT 7008 STRATEGIC

MARKETING

IDENTIFYING, DEVELOPING, AGREEING AND

MONITORING A MARKETING PLAN THAT SUPPORTS

STRATEGIC OBJECTIVES

Naomi Andersson

naomi@naomiandersson.co.uk 01568 612426 / 07794161547

@naomiandersson

… THE PLAN FOR TODAY

1. Strategic Vision and Direction v. Marketing Plan

2. Strategies to manage risk to ensure Marketing Plan reaches organisational objectives

3. Develop a Marketing Plan

7008… YOUR ASSIGNMENTTASK 1:

Outline how the strategic vision and direction of your organisation impacts on the marketing planning process (1.1, 3.1, 1.2, 2.1)

TASK 2: Outline key areas of risk in developing and delivering Marketing Plan, strategies to minimize these and reach organisational objectives (1.3, 2.2)

TASK 3:Develop a Marketing Plan, key components, measurement and review and approval process (2.3, 3.2, 3.3)

Submission Date: 16th August 2013

ASSIGNMENT TIP• BREAK ALL TASKS DOWN INTO A CHECKLIST

• ENSURE YOU’VE HIT EVERY MARKER ON YOUR LIST IN THE FINISHED ASSIGNMENTS

• BACK UP YOUR ASSUMPTIONS/VIEWS/DECISIONS WITH FACTS AND APPROPRIATE REFERENCING.

• KEEP IT SIMPLE, STATE THE OBVIOUS

RUNNING ORDER…

• WHAT IS MARKETING?

• TASK 3

• TASK 2

• BREAK

• TASK 1

• SUMMARY

• LUNCH

WHAT IS MARKETING?

•What is it for you?

•How has marketing changed in your working lifetime?

According to Jobber/Ellis Chadwick (2013) the goal of marketing is

long term satisfaction not short term deception.

TASK 3. DEVELOP A MARKETING PLAN, KEY COMPONENTS, MEASUREMENT,

REVIEW AND APPROVAL PROCESS

MARKETING PLANS

• Is a marketing plan a static document?

• Strategic v.Tactical plans?

•Who owns the document?

According to Doyle and Stern (2006) the plan communicates the objectives and strategy to the management team and permits rational debate about potential

and chances of success.

Activity next….

MARKETING PLAN ACTIVITY (10 MINS)

AIMS…

•Understand the components of a marketing plan • Doyle & Stern 7 key components

•See where input from organisation needed• Post-it party!

•Spot where conflicts can arise• Red pen X time

MARKETING PLAN – ACTIVITY RESULTS

• Info from others

• Board level decisions

• Research & present

• Parked genius ideas

MARKETING PLAN – USEFUL SOURCES

ACADEMIC/ THEORY/FORMAL

•KOTLER & KELLER (CHA.2)

•HOLLENSEN

•DOYLE & STERN

•CIM

•CMI

INFORMAL/FAD/SPRINT

• MARKETINGMO.COM

• BUSINESSBALLS.COM

• MARKETINGPROFS.COM

• OFFICE.COM

Tools: SWOT, PEST, 7p’s

MARKETING TOOLS

MARKETING MIX

4 P’S MCCARTHY (1960)

• PRODUCT

• PRICE

• PROMOTION

• PLACE

EXTENDED MARKETING MIX

7 P’S ADDED (SERVICES, STAFF)

• PEOPLE,

• PHYSICAL EVIDENCE,

• PROCESS MANAGEMENT

Key point: Decisions on the 4p’s are not made in isolation, nor just for organisational objectives, also competitive, social political, legal, technical and economic see Wilson & Gilligan (2013) p6-7 See also Doyle and Stern (2006), Lancaster & Massingham (2011)

TASK 1. OUTLINE HOW THE STRATEGIC VISION AND DIRECTION OF YOUR

ORGANISATION IMPACTS ON THE MARKETING PLANNING PROCESS

VISION V. MARKETING• Mission, Vision and Values Statements

• Your company has them right? ….or does it?

• Fujitsu – Kill Kodak

• South West Airlines

“Organisations must be wary of a definition which is too wide or too narrow, also the definition of the business must not be outside of the competencies of the management and resources.”

Good examples of wide and well managed definitions; Virgin 300+ companies, ASDA were associated dairies, had the distribution sorted and added more product lines beyond milk. See Jobber & Ellis

Chadwick 2013 p44-45

STRATEGIC V. MARKETING

• Strategic, tactical and emergencies

Understanding the strategic situation, confronting an organisation is an essential starting point in developing a marketing strategy.” Cravens (1986)

from Wilson & Gilligan (2013) p19 Strategic planning logically precedes marketing planning by providing a framework within which marketing plans might be formulated.

Tools: PEST, STEEPLE

MORE INFO ON MISSIONS…

Want to learn more about missions?

Google “big brand business name” mission statement 2013

Tactical moves away from the mission and emergencies:

Food scares, health scares, disasters,

Umbrellas to flip flops – dig about in that warehouse…

Jobber & Ellis Chadwick (2013) use Amazon as a good example of how mission can ride through challenging trading times to become a leader demonstrating a fixed mission but flexibility of approach.

Tools: Porter’s Five Forces

MATCHING THE MISSION (ACTIVITY 5 MINS)

•What tools would you use to understand the decisions behind strategic and tactical marketing in your organisation?

STEEPLE, PESTLE, SLEPT, PEST, SWOT

Lancaster & Massingham (2011) 22-38 gives tools and guidance on this.

STRATEGY V. MARKETING PLAN – USEFUL SOURCES

ACADEMIC/ THEORY/FORMAL

• KOTLER & KELLER

• ELLIS & CHADWICK

• DOYLE & STERN

• CIM

• CMI

INFORMAL/FAD/SPRINT

•HARVARD BUSINESS REVIEW

• Roger Martin article from (Feb 2013)

* in student shared area

Tools: SMART objectives, SWOT analysis, Other: Assessing growth opportunities, Culture, Shareholder values.

SWOT UP … ACTIVITY 5 MINS

Strengths Weaknesses

Opportunities Threats

So a quick, real life example from your business, look at STEEPLE to help you, what will you put into a Marketing

SWOT for your business?Socio - CulturalTechnologicalEconomicEnvironmentalPoliticalLegalEcological/Ethical

BREAK

• 10 MINUTES

• PLEASE LEAVE YOUR SEAT AND

THIS ROOM FOR AT LEAST 5 MINUTES

TASK 2. OUTLINE KEY AREAS OF RISK IN DEVELOPING AND

DELIVERING MARKETING PLAN, STRATEGIES TO

MINIMIZE THESE AND REACH ORGANISATIONAL

OBJECTIVES

MARKETING PLAN RISKS (ACTIVITY)

1. What is the absolute worst that could happen to the business?

e.g. Weather, Litigation, HSE, HR disaster, Environmental Spillage

Wilson & Gilligan (2013) look at the modelling methods to aid decision making and new product development based on risk

WHAT COULD POSSIBLY GO WRONG ….

• SERIOUSLY IMPACT SALES POTENTIAL

• REQUIRE SIGNIFICANTLY INCREASED INVESTMENT

• ADVERSELY AFFECT MARKET SHARE

WHAT IS THE RISK IF WE….

• send a press release out to announce xxxx will be on the market dd/mm/yyyy

• When someone new is asked to cover facebook for the afternoon

• When we decide a risque tweet will be what we need to get attention

• When we latch onto some unfortunate disaster and promote our product

• A customer says they found some xxx in their xxxx

TASK 3 - AGAIN DEVELOP A MARKETING PLAN, KEY COMPONENTS, MEASUREMENT, REVIEW

AND APPROVAL PROCESS

DIFFICULT MEASURES

Evaluating effectiveness is difficult, but with substantial expenditure, close control is important.

Measurement and control should not only look at the extent to which objectives have been met but also provide reasons for

variances which can be used to adjust future campaigns.

LANCASTER AND MASSINGHAM (2011)

TASK 3 MEASURE AND REVIEW

PRIMARY MEASURES OF SUCCESS FOR ANY BUSINESS:

• SHORT TERM SUCCESS MEASURES

• VOLUME (UNIT AND £) PROFIT CONTRIBUTION

• MARKET SHARE

• FUTURE PROFITABILITY

• MARKET SHARE

HOW MIGHT YOU DETERMINE THE SUCCESS OF YOUR MARKETING CAMPAIGNS?

MEASUREMENTS AND REVIEWS

How are you going to measure the success of your marketing plan?

•Reporting (CRM, Analytics, ERP, Management Accounting, Surveys).

•Frequency(Quarterly? Monthly? Weekly? Daily?)

•Tactical PlansSee .xls template from Office.com (handout)

MEASURING, REVIEWING & APPROVAL OF A MARKETING PLAN

TASK 3:DEVELOP A MARKETING PLAN, KEY COMPONENTS, MEASUREMENT AND REVIEW AND APPROVAL PROCESS (2.3, 3.2, 3.3)

How and when will you measure success or improvements required?

Great measurement example with The Halifax and Howard, from Doyle and Stern (2006) cha 9.

THE TACTICAL MARKETING BUDGET PLANNER

Office.com

BREAK

We are going to go onto a summary of the whole module 7008 next

Take 5 to leave your seat and refresh yourself!

ADMIN• Overall word count 3500-4000

• Marketing plan portion

• Submission date 16th August 2013

• Exceptions?

• Tutorials from 29th July

• Get them booked in

BACK TO THIS… YOUR ASSIGNMENT

Task 1: Outline how the strategic vision and direction of your organisation impacts on the marketing planning process (1.1, 3.1, 1.2, 2.1)

Task 2: Outline key areas of risk in developing and delivering Marketing Plan, strategies to minimize these and reach organisational objectives (1.3, 2.2)

Task 3:Develop a Marketing Plan, key components, measurement and review and approval process (2.3, 3.2, 3.3)

COMPONENTS OF A MARKETING PLAN

WHO, WHAT, WHERE, WHEN, WHY, HOW…. + SIGN OFF

Company (summary & strategic objectives)

Market situation (customer facts/segmentation)

Cost (Financial goals, risks and projections)

Campaigns (specific, risk assessed, plans)

Planning & Resources

Review Cycle (stakeholders)

See Doyle & Stern (2006) for a simple approach not sure I agree with it, but it’s a good comparison to the other books.

BACK TO THIS… YOUR ASSIGNMENTTASK 1:

Outline how the strategic vision and direction of your organisation impacts on the marketing planning process (1.1, 3.1, 1.2, 2.1)

Tools:

SMARTSWOT7 Ps, 4 Ps #Ps!!

BACK TO THIS… YOUR ASSIGNMENT

TASK 2: Outline key areas of risk in developing and delivering Marketing Plan, strategies to minimize these and reach organisational objectives (1.3, 2.2)

WHAT COULD POSSIBLY GO WRONG ….

• SERIOUSLY IMPACT SALES POTENTIAL

• REQUIRE SIGNIFICANTLY INCREASED INVESTMENT

• ADVERSELY AFFECT MARKET SHARE

MITIGATING RISK

• IMPACT ON VOLUME

• IMPACT ON SPENDING

• IMPACT ON SALES

Triggers for action

•AGREE WHEN TO BEGIN

•CONTINGENCY PLAN

•CONTINGENCY PLAN

•CONTINGENCY PLAN

Assessment & Limiting Events causing risk

MINIMIZING RISK TO REACH OBJECTIVES – SOURCES

ACADEMIC/ THEORY/FORMAL

•SMART OBJECTIVES

• PEST ANALYSIS

•KOTLER & KELLER

•CMI

INFORMAL/FAD/SPRINT

• CMI Research – Weathering the Storm

• CustomerThink.com-Thomas Manning

• Gut feelings…ask the oracle!

HOW WILL WE KNOW THE RISKS?

• Business Objectives KPI’s (Performance)

Metrics to show how Marketing is delivering against the Business Objectives (results oriented)

• KRI’s (Risk)

Changes in preference, demand, behaviour, poor strategy, ineffective operations/people/process. (Forecasting hazards)

• KCI’s (Control)Governance, management, resources, mitigators. Ensuring A doesn’t crash with a B!!

Manning 2010 http://www.customerthink.com/article/marketing_risk_management_seeing_around_the_corner

ASSIGNMENT TIP

• Break all tasks down into a checklist and tick them all off!

• Back up your assumptions/views/decisions with facts and appropriate referencing.

•Where possible find conflicting references and deliver your own winning, educated, qualified stand point.

• Keep it simple, state the obvious

UNIT 7008 STRATEGIC

MARKETINGANY MORE QUESTIONS?

LUNCH?

Naomi Andersson

naomi@naomiandersson.co.uk 01568 612426 / 07794161547

@naomiandersson