Marketing Planning Chapter 01. Marketing Planning Chapter 01.

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Presentation transcript:

Marketing Planning Chapter 01

Marketing Plan A marketing plan is a written document containing the guidelines for the business center’s marketing programs and allocations over the planning period.

Time Horizons for Marketing Plans

Hierarchy of Planning

Objectives of a Marketing Plan Define the current business situation. Define problems and opportunities facing the business. Establish objectives. Define the strategies and programs necessary to achieve the objectives.

Objectives of a Marketing Plan cont. Pinpoint responsibility for achieving product objectives. Encourage careful and disciplined thinking. Establish a market orientation.

Frequent Mistakes in the Planning Process The speed of the Process The Amount of Data Collected Who does the Planning? The Structure Length of the Plan Frequency of Planning

Frequent Mistakes in the Planning Process cont. Number of Courses of Action Considered Who Sees the Plan Not Using the Plan as a Sales Document Insufficient Senior Management Leadership Not Tying Compensation to Successful Planning Efforts

Lengths of Marketing Plans

What Makes a Good Planning System? An effective marketing planning process: Uses experience from several managerial levels rather than just product managers. Uses a variety of both internal and external sources of information. Spends sufficient time collecting and analyzing the data necessary for developing marketing strategies. Uses a number of incentives for managers.

The Planning Process Approaches to Planning Top-down planning Bottom-up planning

Steps in the Planning Process Update historical data. Collect background data. Data analysis. Develop objectives, strategies, and action programs. Develop financial documents. Negotiate. Measure progress. Audit.

Marketing Planning Sequence

Marketing Plan Summary