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    Lecture - 2 (Strategic Marketing Planning)

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    Ali Hashim
    This document discusses strategic marketing planning. It covers developing an organizational mission statement, conducting a SWOT analysis, setting functional goals and objectives, and creating a marketing plan. The marketing plan structure includes an executive summary, situation analysis, marketing goals and objectives, marketing strategy, implementation, and evaluation/control. It emphasizes that a market-oriented organization focuses on customer needs and builds long-term relationships through collaboration.

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    Lecture - 2 (Strategic Marketing Planning)

    Uploaded by

    Ali Hashim
    108 views22 pages
    This document discusses strategic marketing planning. It covers developing an organizational mission statement, conducting a SWOT analysis, setting functional goals and objectives, and creating a marketing plan. The marketing plan structure includes an executive summary, situation analysis, marketing goals and objectives, marketing strategy, implementation, and evaluation/control. It emphasizes that a market-oriented organization focuses on customer needs and builds long-term relationships through collaboration.

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    This document discusses strategic marketing planning. It covers developing an organizational mission statement, conducting a SWOT analysis, setting functional goals and objectives, and creating a marketing plan. The marketing plan structure includes an executive summary, situation analysis, marketing goals and objectives, marketing strategy, implementation, and evaluation/control. It emphasizes that a market-oriented organization focuses on customer needs and builds long-term relationships through collaboration.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    108 views22 pages

    Lecture - 2 (Strategic Marketing Planning)

    Uploaded by

    Ali Hashim
    This document discusses strategic marketing planning. It covers developing an organizational mission statement, conducting a SWOT analysis, setting functional goals and objectives, and creating a marketing plan. The marketing plan structure includes an executive summary, situation analysis, marketing goals and objectives, marketing strategy, implementation, and evaluation/control. It emphasizes that a market-oriented organization focuses on customer needs and builds long-term relationships through collaboration.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 22

    Strategic Marketing

    LECTURE -2 (STRATEGIC MARKETING PLANNING)


    Recap of previous session

     Power shift to consumers

     Exchange, Market, Product, Utility

     Major Marketing Activities and Decisions

     Developing and Maintaining Customer Relationships (traditional v/s Relationship


    Marketing)
    The Strategic Planning Process

    Marketing Plan:
     “…a written document that provides the blueprint or outline of the organization’s
    marketing activities, including the implementation, evaluation, and control of
    those activities.”
    Discussion Question

     What role, if any, should customers play in the strategic


    planning process? Should they have a voice in
    developing the organizational mission, marketing goals,
    or the marketing strategy?
    Organizational Mission vs. Organizational Vision

    Elements of the Mission Statement


    Five basic questions to be answered:
    Who are we?
    Who are our customers?
    What is our operating philosophy?
    What are our core competencies or competitive advantages?
    What are our concerns and interests related to our
    employees, our community, society in general and our
    environment?
    Organizational Mission vs. Organizational
    Vision
     Mission Width and Stability
     Width: Too broad or too narrow?
     Stability: Frequency of modifications
     Customer-Focused Mission Statements
    Ben and Jerry’s 3-part Mission Statement
     Product Mission
     Economic Mission
     Social Mission
    Corporate or Business-Unit Strategy
     Business-Unit Strategy:
    The central means for:
     Utilizing and integrating the organization’s resources
     Carrying out the organization’s mission
     Achieving the organization’s desired goals and objectives
    Associated with developing a competitive advantage
    Determines the nature and future direction of each business unit
    Essentially the same as corporate strategy in small businesses
    Functional Strategy

     Functional strategies are designed to integrate efforts focused on achieving the


    area’s stated objectives.
    The strategy must:
    (1) Fit the needs and purposes of the functional area
    (2) Be realistic with the organization’s resources and environment
    (3) Be consistent with the organization’s mission goals, and objectives.

    The effects of each functional strategy must be evaluated.


    Functional Goals and Objectives

     All business functions must support the organization’s mission and goals.
     Functional objectives should be expressed in clear, simple terms.
     All functional objectives should be reconsidered for each planning period.
    Implementation

    Involves activities that execute the functional strategy.


     Functional plans have two target markets:
    (1) External market i.e., customers, suppliers, investors, potential employees, the society at large
    (2) Internal market i.e., employees, managers, executives
     A company must rely on its internal market for a functional strategy to be implemented
    successfully.
    Evaluation and Control

     Designed to keep activities on target with goals and objectives


     Coordination among functional areas is a critical issue
     Open lines of communication is the key
     Evaluation and control is both an ending and beginning:
    Occurs after a strategy has been implemented
    Serves as the beginning point for planning in the next cycle
    The Marketing Plan
    Detailed formulation of the actions needed to carry out the marketing program
     An action document:
    The handbook for marketing implementation, evaluation and control
     Not the same as a business plan
     Requires a great deal of information from many different sources
     Should be well organized
     A good marketing plan outline is:
    Comprehensive
    Flexible
    Consistent
    Logical
    Marketing Plan Structure

    I. Executive Summary
     Synopsis of the overall marketing plan
     Introduces major aspects of the marketing plan
    II. Situation Analysis
     Summarizes information about 3 key environments:
     Internal environment
     Customer environment
     Firm’s external environment
    Marketing Plan Structure

    III. SWOT Analysis


     Strengths
     Weaknesses
     Opportunities
     Threats
    Marketing Plan Structure
    IV. Marketing Goals and Objectives:
     Formal statements of desired and expected outcomes of the marketing plan
     Goals:
     Broad, simple statements of what is to be accomplished
     Objectives
     More specific and essential to planning
    V. Marketing Strategy:
     Primary target market and marketing mix
     Secondary target market and marketing mix
    Marketing Plan Structure
    VI. Marketing Implementation
     1. What specific marketing activities will be undertaken?
     2. How will these activities be performed?
     3. When will these activities be performed?
     4. Who is responsible for the completion of these activities?
     5. How will the completion of planned activities be monitored?
     6. How much will these activities cost?
    VII. Evaluation and Control
     Formal marketing control
     Informal marketing control
     Financial assessments
    Marketing Plan Structure

    Marketing Implementation
     1. What specific marketing activities will be undertaken?
     2. How will these activities be performed?
     3. When will these activities be performed?
     4. Who is responsible for the completion of these activities?
     5. How will the completion of planned activities be monitored?
     6. How much will these activities cost?
    Major Problems in Developing and Implementing the Marketing Plan
    Strategic Planning in the Market-Oriented Organization

    A Market-Oriented Organization:
     Shifts its focus:
    From products to the requirements of market segments
    From transactions to relationships
    From competition to collaboration
     Puts customer’s needs and wants first
     Focuses on long-term, value-added relationships
     Instils a corporate culture that puts customers at the top of the organizational
    hierarchy
     Cooperates with suppliers and competitors to serve customers better

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