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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