[PDF] [PDF] Week 1 – Introduction - StudentVIP

Situation Analysis MUST help make decision *Influence Strategy* 4 SWOT + TOWS- SWOT summarises info from analysis, TOWS uses SWOT to identify issues 



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[PDF] Week 1 – Introduction - StudentVIP

Situation Analysis MUST help make decision *Influence Strategy* 4 SWOT + TOWS- SWOT summarises info from analysis, TOWS uses SWOT to identify issues 



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Week 1 - Introduction

Why Do We Plan?

Ensure survival

Compete effectively + efficiently (analyse market, industry etc.)

Motivate employees (people know what to do)

Satisfy firm's responsibility to stakeholders

Role of Marketing Manager

- collect +analyse background product category data - implement strategy ǀia marketing midž (p's)

Strategic Planning

- Process of developing and maintaining a strategic fit between organisation goals and capabilities and changing marketing opportunities Define company mission AE Set company objectives/goals AE Design business portfolio (corp. level) AE planning, marketing and other function strategies (SBU, product level)

Planning Process

Diagnosis- where does the organisation stand?

Forecast- Where is the organisation headed?

Objectives- Where should the organisation go?

Strategy- How should the organisation get there?

Tactics- What means should be used to get there?

Feedback/control- How should we measure progress?

Marketing Plan

- Written document containing the guidelines for the business centre's marketing programs and allocations over the planning period

Marketing Planning Sequence

Update historical data AE collect current situation data AE data analysis AE develop objectives, strategies, programs AE develop financial documents AE negotiate final plan AE measure progress towards objectives AE audit AE repeat -compiled by staff -strong top management support -thoroughly researched -continually revised

Situational Variables (influence strategy)

customers, competition, context (industry), company (internal)

Marketing Variables (creation of strategy)

Marketing Mix - product, price, promotion, place

Contents of Marketing Plan

1. Executive summary- overview of the rest of the document

2. Business definition/scope- highlighted by mission statement and current objectives

3. Situational analysis (Where are we now?)

Industry analysis- industry, macro, critical success factors Competitor analysis- who, what they do that will impact our relationship with customers Customer analysis- who are they, how do they behave, what they want, how do they respond Internal analysis- how are we performing, skills, tools, resources, capability Situation Analysis MUST help make decision *Influence Strategy*

4. SWOT + TOWS- SWOT summarises info from analysis, TOWS uses SWOT to identify issues and

inform strategy development

5. Objectives- an end to be achieved, SMART, address issue identified by SWOT

6. Strategies- A means to achieve an end (objective)

7. Tactics- Action plan/tactics defines how are you going to get there

WHO is going to do WHAT

WHEN are they going to do it

HOW including resources ($$ and other)

8. Budget- P+L statement for planning period - MUST be approved for plan to proceed

9. Monitor and Control-

Performance management- compare actual/expected performance Contingency Plan- what if performance is not what you expected? modification of strategies/objective where necessary/possible

Week 2 - Levels of Planning & Mission Statement

Planning

Levels of Strategy/Objective

Corporate- purpose, business definition (Unilever) SBU- unit scope, competitive approach (Dove, Lipton etc.) - implement corporate strategy Functional- product strategy, IMC (Dove shampoo) - implement business strategy

Objectives and Strategies

Corporate Plan Business Plan Functional Plan

Objectives Shareholder value Value of business

(Driven by corporate)

Specific to project, marketing mix

(Driven by corporate/SBU)

Across all business

units

Across product markets within

business units

Specific product markets

Example Revenue, ROI,

profitability

Sales growth, ROI Market share, sales

Objectives-

an end to be achieved AE desired effect designed to address issues/challenges identified take firm forward SMART- specific, measurable, attainable, realistic, timely

Mission Statements

-What business are we in -who are we? -who are our customers? -what is our philosophy? Core competency? Competitive advantage?

Types of Missions

Alsem

Piercy

Pure mission: philosophies, long term obj. Organisational philosophy

Strategic objectives Organisational key values

Quantified planning objectives Critical success factors Market (business) definition Product-market domain

Types of Mission Statements

External Yes

External No

Internal Yes Global Mission Organisational Mission

Internal No Market Mission No Mission

Mission Model

Mission statement contains:

Org philosophy- what do we want to be

Org key values- how do we want our people to behave Critical success factors- what do we have to be good at in this industry Product market domain- where are we going to operate

Goal of a Mission Statement

Corporate image- credibility, social responsibility Market definition- products, and customer groups/functions

Employee motivation

Acid Test

Good mission statement is:

Realistic

Creative

Unique

Distinctive

Motivating

Durable (RCUDMD)

Business Definition and Scope

Business definition/scope is starting point for strategy development

The way business is defined determines:

the nature of the markets the firm competes in the products and substitutes (existing/new) that service or may service market the nature of competition the capabilities required to compete successfully in the industry

Business Definition

-Customer technologies (products) -Customer groups (segments) -Customer functions (needs) Scope -Within business definition -specific focus of marketing plan -bound by: timeframe market/segment particular category/product of businessquotesdbs_dbs18.pdfusesText_24