marketing and consumer behavior- marketing plan

8/12/2019 Marketing and Consumer Behavior- Marketing Plan

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Marketing Planning Process


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What is a Plan A plan is a way of achieving something.

It is detailed, it has to be adaptable if necessary, needs to becompatible and has to be budgeted and controlled.

Planning enables organizations to be effective, not justefficient.

A Marketing Plan is very similar , It is a specification of allaspects of an organizations marketing intentions andactivities. It is a summary document, providing aframework that permits managers and specialists toundertake the detailed work of marketing in a co-ordinatedand effective fashion


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What does planning entail? Setting objectives quantifying targets for achievement

and communicating these targets to others

Selecting strategies, tactics, policies, programmes andprocedures for achieving the objectives


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Marketing planA marketing plan exists within the overall framework

of corporate strategic plan.

Corporate Strategy is concerned with overall purposeand scope of organization to meet expectations ofmajor stakeholders and add value to different parts ofthe enterprise


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Stages in corporate plans

Mission Statement

Statement of Objectives

Situation Analysis

Specific Plans

Implementation


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a. Mission Statement Says what the organization is aiming to achieve through

conduct of business. The purpose is to provideorganization with focus and direction

A mission statement should incorporate social meaningfuland measurable criteria addressing concepts such asmorals of ethical positions of the firms public image, targetmarket products or services geographical domain and

exception of growth and profitability. Can be a long statement or one line supported by a set of

values that set performance standards and directimplementation of mission


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Examples of Mission Statement Samsung- We will devote our human resources and

technology to create superior products and servicesthereby contributing to a better global society.

Airtel To produce an overall positive impact onsociety and stakeholders, presently and for the future

by investment in communities to help fulfill theirpotential as well as their responsibilities to family andespecially through education of underprivilegedchildren


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b. Statement of ObjectivesAre part of the planning process both at corporate and

market value.

Corporate objectives define specific goals for anorganization as a whole. This is expressed in terms ofprofitability, Return on investment and growth

Objectives that are set at a marketing level must be

surbodinate to those specified at corporate level. Marketing planning process is a translation of

corporate objectives and must be achievable,consistent , stated clearly and preferably quantifiable


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Primary and Secondary ObjectivesWhen a company sets itself primary objectives such as

growth in profit it then has to develop strategy bywhich this primary objective can be achieved.

An objective must be set for each individual strategy

Many secondary objectives may simply be targeted bythe success of a strategy measured


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c. Situation Analysis Involves a thorough study of broad trends of economy

and society and comprehensive analysis of markets,consumers, competitors and company itself.

Methods used:

SWOT ( Strenghts, Weaknesses, Opportunities andThreats

SLEPT ( Social, Legal, Environment , Political,Technological)


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d. Specific Plans Detailed paths of achieving your goals from the various

departments

Budgets are also formulated at this stage Budgets can be set by

Objectives and tasks

Competitor based/ Competitor parity

All we can afford Percentage of sales

Same as Last time ( S.A.L.T)


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e. Implementation Consists of Identification of specific tasks to be

performed, allocation to individuals and putting toplace a system of control.


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Marketing plan Process To fail to plan is to plan to fail


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Situation analysisSTAGE 1 WHERE ARE WE NOW? (20% of planning time) How are we performing?

What are our distinctive competitive (marketing) advantages?

How effective is our Marketing Mix?

Are we focusing on the best segments with the right type of customer?

Are we using the most appropriate channels for communication anddistribution?

What uncontrollable event(s) or trend(s) can impact my business?


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ObjectivesSTAGE 2 WHERE DO WE WANT TO GO? (5% ) Business Mission?

Business Objectives?

Marketing Objectives Business Development?

Marketing Communication Objectives?

The SMART Test for Objectives Make sure your objectives are practical and measurable. Do they fit the

following criteria? Specific (with numbers) Measurable (monitor progress and confirm achievement) Actionable (can we do it?) Reasonable (realistically attainable) Timed (incorporate deadlines)


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StrategySTAGE 3

STRATEGY HOW DO WE GET THERE? (45% )

Segmentation How do we want to divide up themarket(s)?

Targeting Which segments of the market do we wishto focus upon?

Positioning How do we want to be perceived in eachdifferent target segment?


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Tactics

STAGE 4 TACTICAL PLAN (30%) HOW DO WE IMPLEMENT THE STRATEGY?

Which Communication Tools are we going to use?

How are we going to use them?

What message(s) do we wish to communicate?

Are we being consistent across different tools and messages?

Do we have the necessary resources/budgets?


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ActionSTAGE 5 ACTION PLAN WHO, WHAT, WHEN? Who is going to do what?

When are they going to do it?

What is the resource allocation for the action?

What are the key performance measurements?

How is performance going to be recorded?


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ControlSTAGE 6 KEEPING TRACK OF PROGRESS

Do action performance measurements relate to objectives?

Responsibility for measurement?

Frequency of measurement?

Resources for measurement?

Review of measurements?

Actions on variance?

marketing and consumer behavior- marketing plan

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