marketing planning
DESCRIPTION
What is Marketing Planning, why its require, SWOT Analyse, value chain etc. has been covered. Developed By http://webneez.comTRANSCRIPT
Marketing Planning
Guided By Prof. Rakesh ShiraseMBA-I
Vishal Patel | Drashti Shah | Jyotsana Iyer | Shruti Kumari | Pappu Kumar
What is the Value Chain?
The value chain is a tool for identifying ways to create more customer value because every firm is a synthesis of primary and support activities performed to design, produce, market, deliver, and support its product.
Porter’s Value Chain
Characteristics of Core Competencies
A source of competitive advantage Applications in a wide variety of
markets Difficult to imitate
What is a Marketing Plan?
A marketing plan is the central instrument for directing and coordinating the marketing effort.
It operates at a strategic and tactical level.
Levels of a Marketing Plan
Strategic Target marketing
decisions Value proposition Analysis of
marketing opportunities
Tactical Product features Promotion Merchandising Pricing Sales channels Service
The Strategic Planning, Implementation, and Control Processes
Corporate And Division Strategic Planning
Defining the corporate mission Establishing strategic business units Assigning resources to each SBU Assessing growth opportunities
Defining the corporate mission
Mission statement includes the mission of an organization which it needs to achieve through careful marketing research by carefully analyzing the needs and wants of customer and providing him with the same.
Good Mission Statements
Focus on limited number of goals
Stress major policies and values
Define major competitive spheres
Take a long-term view
Short, memorable, meaningful
Sample Mission Statements
MARRIOTT’S Mission Statement:We are committed to being the best lodging and food service company in the world, by treating employees in ways that create extraordinary customer service and shareholder value
Cont.
Biocon“To be an integrated biotechnology enterprise of global distinction.”
Infosys Technologies Limited“To achieve our objectives in an environment of fairness, honesty, and courtesy towards our clients, employees, vendors and society at large.”
It is a single business or collection of related businesses
It has its own set of competitors
It has a leader responsible for strategic planning and profitability
Establish strategic business units (SBUs)
Characteristics of SBUs
Product Orientation vs. Market Orientation
Company Product MarketMissouri-Pacific
RailroadWe run a railroad We are a people-
and-goods mover
Xerox We make copying equipment
We improve office productivity
Standard Oil We sell gasoline We supply energy
Columbia Pictures We make movies We entertain people
Assign resources to each SBU
The Strategic Planning Gap
Assess growth opportunities
Ansoff’s Product-Market Expansion Grid
The Business Unit Strategic Planning Process
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
SWOT AnalysisINTERNAL FACTORS
past and presentEXTERNAL FACTORS
past and present ACTION
STRENGTHSBuild on them,Emphasise in promotional campaigns
OPPORTUNITIESExploit them if possible
Need to be identified and researched via environmental scanning and analysis
WEAKNESSESEliminate them if possible,Circumvent them
THREATSDevelop contingency plans Must be addressed by
Marketing Plan decisions
Market Opportunity Analysis (MOA)
Can the benefits involved in the opportunity be articulated convincingly to a defined target market?
Can the target market be located and reached with cost-effective media and trade channels?
Does the company possess or have access to the critical capabilities and resources needed to deliver the customer benefits?
MOA (cont.)
Can the company deliver the benefits better than any actual or potential competitors?
Will the financial rate of return meet or exceed the company’s required threshold for investment?
Goal Formulation
Hierarchically arranged from the most to the least important.
Quantitative objectives whenever possible
Objectives should be realistic Objectives must be consistent
Strategic Formulation
Porter’s Generic Strategies
Overall Cost Leadership
Differentiation
Focus
Feedback And Control
Measures include:
•Performance measurements•Evaluation mechanisms•Feedback mechanisms•Contingency planning•Budgets / profit & loss
Problems with Planning
Companies become obsessed with the process or technique rather than the actual content and delivery of the plan!!
Unreliable or insufficient market research data can make plans flawed from beginning!
New companies too busy?
Small companies not important/ no skills/ restrictive?
Mature companies Unnecessary / cumbersome?
Fast changing markets not useful / responsive?
However all organisations should plan!
Problems with Planning (Cont.)
Marketing Planning is Essential ...
Conflicting pressures make choices difficult
Enhancing customer service
Short-term profit
Revenue maximisation Cost minimisation
Long-term value creation
Increasing profitabilityVs.
Vs.
Vs.
Executive summary Table of contents Situation analysis Marketing strategy Financial projections Implementation controls
Marketing Plan should consist :
Conclusion
Thank you