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    Marketing Planning & Control Marketing Plan

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    nobleconsultants
    This document outlines the key components of an effective marketing plan, including: 1) Analyzing the current marketing situation and threats/opportunities. 2) Defining objectives and issues to increase sales and market share. 3) Developing a marketing strategy using approaches like market segmentation, targeting, positioning, and the marketing mix. 4) Implementing action programs and budgets to operationalize the strategy. 5) Establishing controls to monitor performance and make adjustments. The purpose is to provide a written guideline to help marketing managers achieve their goals through efficient and effective planning.

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    Download as PPT, PDF, TXT or read online from Scribd

    Marketing Planning & Control Marketing Plan

    Uploaded by

    nobleconsultants
    158 views36 pages
    This document outlines the key components of an effective marketing plan, including: 1) Analyzing the current marketing situation and threats/opportunities. 2) Defining objectives and issues to increase sales and market share. 3) Developing a marketing strategy using approaches like market segmentation, targeting, positioning, and the marketing mix. 4) Implementing action programs and budgets to operationalize the strategy. 5) Establishing controls to monitor performance and make adjustments. The purpose is to provide a written guideline to help marketing managers achieve their goals through efficient and effective planning.

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    market plan 2

    Original Title

    Market Plan 2

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    This document outlines the key components of an effective marketing plan, including: 1) Analyzing the current marketing situation and threats/opportunities. 2) Defining objectives and issues to increase sales and market share. 3) Developing a marketing strategy using approaches like market segmentation, targeting, positioning, and the marketing mix. 4) Implementing action programs and budgets to operationalize the strategy. 5) Establishing controls to monitor performance and make adjustments. The purpose is to provide a written guideline to help marketing managers achieve their goals through efficient and effective planning.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    158 views36 pages

    Marketing Planning & Control Marketing Plan

    Uploaded by

    nobleconsultants
    This document outlines the key components of an effective marketing plan, including: 1) Analyzing the current marketing situation and threats/opportunities. 2) Defining objectives and issues to increase sales and market share. 3) Developing a marketing strategy using approaches like market segmentation, targeting, positioning, and the marketing mix. 4) Implementing action programs and budgets to operationalize the strategy. 5) Establishing controls to monitor performance and make adjustments. The purpose is to provide a written guideline to help marketing managers achieve their goals through efficient and effective planning.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 36

    MARKETING PLANNING & CONTROL

    MARKETING PLAN

    11

    Introduction
    Liberalization of the economy and consequent globalization of marketing has forced large and small sized organizations to carry out efficient and effective marketing planning.

    22

    Why Plan?
    The situation has caused the following Stiff competition both domestically and internationally Close global communication Scarcity in resources Continuous changes in consumer needs Fragmentation of markets High pace in technological development

    33

    Marketing Planning
    Planning is the process of anticipating future events and determining strategies to achieve organizational objectives in the future

    Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives

    44

    Managing the Marketing Effort


    Analysis

    Planning Develop strategic plans

    Implementation Carry out the plans

    Control Measure results Evaluate results

    Develop marketing plans

    Take corrective action

    55

    Marketing Plan
    Marketing plan is a written document that acts as a guideline of marketing activities for the marketing managers.

    A detailed marketing plan is needed for each business, product or brand

    66

    Marketing Plan Criteria


    Is the plan simple?
    Easy to understand and act on?

    Does it communicate its content easily and practically?

    Is the plan specific?


    Are its objectives concrete, measurable?

    Does it include specific actions and activities, each with specific dates of completion, specific persons responsible and specific budgets?

    77

    Marketing Plan Criteria


    Is the plan realistic?
    Are the sales goals, expense budgets and milestone dates realistic? Has frank and honest self critique been conducted to raise possible concerns and objections??

    Is the plan complete?


    Does it include all the necessary elements?

    88

    Contents of a Marketing Plan


    1. Executive summary
    2. 3. 5. 6. 8. Current marketing situation Threats and opportunity analysis Marketing strategy Action programs Controls

    4. Objectives and issues

    7. Budgets

    99

    1. Executive Summary
    Purpose Presents a brief overview of the proposed plan for quick management review It is the opening section of the plan that presents a short summary of the main goals and recommendations to be presented in the plan

    1010

    2. Current Marketing Situation


    Purpose Presents relevant background data on the market, product, competition and distribution -market description defines major segments -Product review sales, prices, gross margins -Identify major competitors and their strategy -Distribution channels recent trends & developments
    1111

    3. Threats and Opportunity Analysis


    Purpose Identifies the major threats and opportunities that the product might face

    Makes the manager anticipate important developments that can have an impact on the firm might impact the product

    1212

    Threats and Opportunity Analysis


    Different threats call for different levels of attention and concern Assess the likelihood of each threat and the potential damage each could cause. Assess each opportunity according to its potential attractiveness and the companys probability of success In evaluating opportunities, decide whether expected returns justify risks involved
    1313

    4. Objectives and Issues


    Purpose Defines the companys objectives for the product in the areas of sales, market share and profit and the issues that will affect these objectives eg how can market share be increased? Objectives are goals a firm would like to attain during a plans term - SMART
    1414

    5. Marketing Strategy
    Purpose
    Presents the broad marketing approach that will be used to achieve the plans objective A strategy is a means used to achieve organizational goals Shows specific strategies for target markets, positioning, marketing mix, and marketing expenditure eg Use Ansoffs, STP
    1515

    1616

    Market Penetration
    Get existing user to increase buying frequency Increase number of uses for same product Convert competitors users to your brand

    Market Development
    Find new target market Find new geographical markets

    1717

    Product Development
    Innovate new products Modify existing product Line extensions of existing product

    Diversification
    Find new target market for new unrelated products

    1818

    Market Segmentation
    Sub-dividing a whole market into relatively similar, but identifiable segment that an organization can serve profitably. In order to carry out effective segmentation, a marketer must understand the principles of market segmentation.

    1919

    Market Targeting
    This strategy identities which market segment(s) to focus on. Three general strategies of selecting target markets. Differentiated Undifferentiated and Concentrated marketing, using marketing mix differently at different situations

    2020

    Market Positioning
    It is marketing strategy in which a marketer ensures the product occupies a major space in the mind of a customer. It uses two matching variables such as price and quantity.

    2121

    Market Positioning
    It is marketing strategy in which a marketer ensures the product occupies a major space in the mind of a customer. It used two matching variables such as price and quantity.

    2222

    Marketing Mix
    Refers to a unique blend of product, place, promotion and price strategies designed to produce mutually satisfying exchange with a target market. 4ps for Products 7ps for Services

    2323

    Marketing Mix

    2424

    6. Action Programs/ Implementation


    Purpose Specifies what will be done activity description who will do it detailed job assignment when it will be done time lines how much it will cost - budgets

    2525

    7. Budgets
    Purpose A projected profit and loss statement that forecasts the expected financial outcomes from the plan Budget is a consolidated statement of resources required to achieve desired objectives.

    2626

    Budget
    It is a planning and control tool relevant to all aspects of management activities It is based on forecasting. Shows forecasted units sold, average net price

    Shows cost of production, physical distribution and marketing

    2727

    Purpose of Budgeting
    Coordination of activities Communication of the policies and target to every manager in the firm Providing control mechanism from which actual performance is measured

    2828

    Limitations of Budgeting
    Unpredictability in environmental situation Inflation growth Inter-departmental rivalries. Managements reluctance to budget. Lack of budgeting skills. Inadequate information / inaccurate data

    2929

    Types of Budgets
    Expenses budget - Only expenditure of salaries, materials, traveling cars e.t.c Advertising budget media, Posters, billboards. Sales promotion - Offers e.t.c

    R&D budget.
    Distribution budget- Warehouse, Transport, Loading and unloading

    3030

    8. Controls
    Purpose Indicates how the progress of the plan will be monitored

    Marketing control involves evaluating the results of marketing strategies and plans, and taking corrective action to ensure that objectives are attained.
    Goals and budgets spelled out for each month/quarter
    3131

    The Control Process


    Set goals what do we want to achieve?
    what is happening? why is it happening? what should we do about it?
    3232

    Measure performance

    Evaluate performance -

    Take corrective action

    Benefits of Planning
    It offers a road map for implementing the companys marketing activities It assists in managing control and monitoring of implementation of strategy It creates a sense of responsibility among the staff. It specifies how resources are to be allocated among the units It enables the participants to be aware of problem and opportunities It reduces risks and wastes
    3333

    Barriers to Planning
    Culture Power and politics Analysis, not action Resource issues Skills

    3434

    Sample Plan

    3535

    Sample Plan Cont.

    3636

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