Marketing Planning: An Overview of Marketing

Key planning questionsKey planning questions

Re-definition

The marketing planning The marketing planning processprocess

Business mission

Marketing audit

SWOT analysis

Marketing objectives

Core strategy

Marketing mix decisions

Organization and implementation

Control

Marketing planning at the business level

Marketing planning at the product level

Re-definition

Planning at the business Planning at the business levellevel

Strategic thrust

Strategic objectives

Planning at the product Planning at the product levellevel

Core strategy

Marketing mix decisions

Organization and implementation

Control

Target markets

Competitive advantage

Competitor targets

The EconomistThe EconomistAn important part

of marketing planning is target

marketing: The Economist targets

professionals who

wish to be perceived

as knowledgeable

and intelligent.

External marketing audit External marketing audit checklistchecklist

MacroenvironmentMacroenvironment

Internal marketing audit Internal marketing audit checklistchecklist

Marketing

Structures

Marketing

Systems

Marketing

Mix

Effectiveness

Operating

Results

(by product,

customer,

geographic

region Strategic

Issues

Analysis

Internal marketing audit Internal marketing audit checklistchecklist

Marketing Structures

•Marketing organisation•Marketing training

•Intra- and interdepartmental

•communication

Marketing Systems•Marketing information system

•Marketing planning system•Marketing control system

Marketing

Mix

Effectiveness•Product

•Price•Promotion•Distribution

SWOT analysisSWOT analysis

Opportunities

Strengths

Threats

Weaknesses Internal(controllable)

External(uncontrollable)

Source

Strategic thrust: the Strategic thrust: the generic optionsgeneric options

Product

Development

Market

Penetration

or

Expansion

Enter New

Markets

Market

Development

Products

Markets

Existing New/Related

New/Related

Existing

Strategic ObjectivesStrategic Objectives• Build

• Hold

• Harvest

• Divest

Core StrategyCore Strategy1. Target Markets

A target market is a market segment that has been selected as a focus for a campaign’s marketing mix.

2. Competitive AdvantageThe achievement of superior performance through

differentiation to provide superior customer value, or by managing to achieve lowest delivered cost.

3. Competitor TargetsThe organizations against which a company chooses to

compete directly.

ColgateColgate

Colgate Total attempts to be better than the competition by providing a new

advanced cleaning silica system that

fights plaque.

Testing core strategyTesting core strategyClearly defines

target customers and their needs

Resource and managerially supportable

Internally consistent

Derived to achieve product

market objectives

Creates a competitive advantage

Incurs acceptable

risk

Core strategy

Key questions and the Key questions and the process of marketing process of marketing

planningplanning

The Rewards of The Rewards of Marketing PlanningMarketing Planning

1. Consistency.2. Encourages the monitoring of change.3. Encourages organizational adaptation.4. Stimulates achievement.5. Resource allocation.6. Competitive advantage.

Problems in Making Problems in Making Planning WorkPlanning Work

1. Political.2. Opportunity cost.3. Reward systems.4. Information.5. Culture.6. Personalities.7. Lack of knowledge and skills.

How to Handle Marketing Planning How to Handle Marketing Planning

ProblemsProblems1. Senior management support.2. Matching the planning system to the

culture of the business.3. The reward system.4. Depoliticize outcomes.5. Clear communication.6. Training.