Dsbm 6 - marketing plan
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06. MARKETING PLAN
THARAKA DIASDirector – Essence BTC
MBA(USA), MBA(Aldersgate),BBA(USA), Dip in Mgt, ACIM(UK),
FAEA(Dip in AEA-UK), FinstSMM(UK), CPM(Asia), MSLIM, PM(Sri-
Lanka)
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“ The overall purpose of marketing planning and its principal focus is the identification and creation of sustainable competitive advantage”
MARKETING PLANNING AND CONTROLLING
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“If you don’t know where y0u’re going, any
road will get you there”
Each of the division of the organization
should determine what its own plan will be
Planning is deciding now what we are going
to do later.
01. THE NATURE AND IMPORTANCE OF PLANING
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Its start at the top of the organization
It provides clearly defined corporate objectives for the
organization as a whole
In turn each of the business function has the
responsibility to deliver the overall corporate
objectives, meeting the corporate mission and vision.
1.1 WHAT IS CORPORATE PLANNING?
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Marketing planning is simply a logical sequence and a
series of activities leading to the setting of objectives
and the formulation of plans to achieve them.
2.WHAT IS MARKETING PLAN
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Where are we now?
Situational analysis
Where do we want to
be?
Marketing objectives
How might we get
there?
Strategies
Which way is best?
Tactics
Action plan
Budgets
How can we ensure
arrival?
Evaluation & control
3. MARKETING PLANNING PROCESS
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Marketing Audit
SWOT Analysis
01. WHERE ARE WE NOW?
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A comprehensive, systematic, independent, and periodic examination of a company’s environment, objectives, strategies and activity to determine problem areas and opportunities and to recommend a plan of action to improve the company’s marketing performance.
1.1. MARKETING AUDIT
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1. Internal Audit of Appraisal
2. External Audit or Appraisal
AN ORGANIZATION HAS TO CONDUCT TWO TYPES OF AUDITS
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Marketing
Financial
Managerial
Production
New product development
Technology
HR
Systems and Control
A) INTERNAL AUDIT –S /W
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PESTEEL factors
Political
Economical
Social
Technological
Ecological
Ethical
Legal
B) EXTERNAL AUDIT
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PORTER’S 5 FORCES COMPETITIVE FRAME
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Who are the major competitors
Their objectives and strategies
Their strengths and weaknesses
Market share
Entry barriers
COMPETITOR ANALYSIS
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Market size growth rates, trends and development
Customer: who are they, their choice criteria, how, when, where do they buy
MARKET ANALYSIS
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Strengths Weakness
Opportunities Threats
1.2. SWOT ANALYSIS
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Marketing Objectives
Specific
Measurable
Aspiration
Relevant
Time frame
3.2. STAGE 2:WHERE DO WE WANT TO BE ?
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STP
Marketing Mix
Growth strategy
Ansoff
3.3. MARKETING STRATEGIES
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Segmentation
Target
Positioning
STP
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Product
Price
Place
Promotion
People
Physical evidence
Process
MARKETING MIX
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ANSOFF MATRIX
Product
Market
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• It is a way which a strategy implemented. Its is more specific and short term
objective . Marketing Tactics
• This is the way overall sales volume planned at the objective stage is forecasted
into different monthsSales Forecast
• Putting all the strategies in to action. Involves staff, timetables and marketing
objectives in timely manor. What has to be done, who will do it and whenAction Plan
• Allocating cost for all the above activities based on the planned strategyMarketing budgeting
3.4. STAGE 4: WHICH WAY IS BEST
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• Evaluation identifies what really
was done while control involves
evaluating the results and talking
corrective actions quickly to
ensure that deviations are
minimized or eliminated
Evaluation
and
control
3.5. STAGE 5: HOW CAN WE ENSURE ARRIVAL?
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Expected performance based on objectives
What do we want to achieve?
Measure actual against expected
performance
What is happening?
Evaluating performance
Why is it happening?
Analyze deviations
What should we do about it?
A) MARKETING CONTROL PROCESS MODEL
Goal setting
Variance analysis
Performance Diagnosis
Corrective Action
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• The marketing objectives
What do we
want to achieve?
• The measurement of actual performance against the
performance standards to identify if there are any variations
or how much of variations exists?
What is
happening?
• To determine the cause of any difference if any between the
actual performance and expected.
Why is it
happening?
• Finally management takes the necessary corrective action to
close the gaps between its actual and expected
performance.
What should we
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Type of Control Purpose of control Approaches
Annual plan control To examine whether the planned results are being achieved
•Market share analysis•Sales to expense ration•Sales analysis•Financial analysis
Profitability control To examine where the organization is making & losing money
Profitability by•Product•Territory•Customer/segment•Trade channel•Analysis of costs & margins
Efficiency control To evaluate & improve the spending efficiency & impact of marketing expenditures
•Sales force •Advertising•Sales promotion•distribution
B) TYPES OF CONTROL IN MARKETING
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Type of control Purpose of control Approaches
Customer satisfaction To evaluate level of customer satisfaction
•Customer surveys •Customer complains•Sales force reports•Customer panels
Strategic control To examine whether the organization is pursuing its best opportunities
•Marketing effectiveness•Marketing audit•Marketing excellence review
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To ensure that the planned targets are achieved
Provide early warnings
Allow early corrective measurement
To be proactive
Not to put the marketing plan in a locker
C)WHY MARKETING CONTROL IS IMPORTANT?
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The marketing plan is the
blue print which indicates
how the organization
plans to achieve it
marketing objectives
4. THE MARKETING PLAN
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Executive or management summary
Current marketing situation
SWOT
Marketing objectives
Marketing strategies
Marketing tactics and action plan
Budgets/ financial implementation
Evaluation and control
contingencies
Appendices
4.1. THE KEY CONTENT OF MARKETING PLAN
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Increasing turbulence, complexity and competitiveness
The speed of technological change
High level of investment required to develop new products
The need for superiors to inform
To obtain financial support from financial institutions
To create competitive advantage
To get support from other divisions
To set objectives and strategies
4.2. THE PURPOSE OF MARKETING PLAN
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It offers a road map
It assist in management control and monitor of implementation of strategy
It informs all participants in the plan of their and functions
It specifies how resources are allocated
It stimulates thinking and marks better use of resources
An awareness of key marketing trends, opportunities, threats and internal strengths and weaknesses
4.3. BENEFITS OF A MARKETING PLAN
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It assists in ensuring that the organization is customer focused
It provide contingency plans
Its proactive rather than reactive
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