Strategic Marketing Planning Week 2 Dr. Ananda Sabil Hussein

What is a 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. ”“ …a written document that provides the blueprint or outline of the organization ’ s marketing activities, including the implementation, evaluation, and control of those activities. ”

Strategic planning process

Mission vs Vision Elements of the Mission Statement Elements of the Mission Statement Five basic questions to be answered: Five basic questions to be answered: Who are we? Who are we? Who are our customers? Who are our customers? What is our operating philosophy? What is our operating philosophy? What are our core competencies or competitive advantages? 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? What are our concerns and interests related to our employees, our community, society in general and our environment?

Mission vs Vision Mission width and stability Mission width and stability Customer-focused mission statement Customer-focused mission statement Mission : Mission : Intel corporation : Do a great job for our customers, employees and stckholders by being the preminent building block supplier to the computing industry Intel corporation : Do a great job for our customers, employees and stckholders by being the preminent building block supplier to the computing industry Southwest airline: Dedication to the highest quality customer service delivered with a sense of warmth, friendliness, individual pride and company spirit Southwest airline: Dedication to the highest quality customer service delivered with a sense of warmth, friendliness, individual pride and company spirit

Corporate or Business Strategy Business-Unit Strategy: Business-Unit Strategy: The central means for: The central means for: Utilizing and integrating the organization ’ s resources Utilizing and integrating the organization ’ s resources Carrying out the organization ’ s mission Carrying out the organization ’ s mission Achieving the organization ’ s desired goals and objectives Achieving the organization ’ s desired goals and objectives Associated with developing a competitive advantage Associated with developing a competitive advantage Determines the nature and future direction of each business unit Determines the nature and future direction of each business unit Essentially the same as corporate strategy in small businesses Essentially the same as corporate strategy in small businesses

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

Functional Strategy Functional strategies are designed to integrate efforts focused on achieving the area ’ s stated objectives. Functional strategies are designed to integrate efforts focused on achieving the area ’ s stated objectives. The strategy must: The strategy must: (1) Fit the needs and purposes of the functional area (1) Fit the needs and purposes of the functional area (2) Be realistic with the organization ’ s resources and (2) Be realistic with the organization ’ s resources and environment environment (3) Be consistent with the organization ’ s mission (3) Be consistent with the organization ’ s mission goals, and objectives. goals, and objectives. The effects of each functional strategy must be evaluated. The effects of each functional strategy must be evaluated.

Implementation Involves activities that execute the functional strategy. Involves activities that execute the functional strategy. Functional plans have two target markets: Functional plans have two target markets: (1) External market (1) External market (2) Internal market (2) Internal market A company must rely on its internal market for a functional strategy to be implemented successfully. 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 Designed to keep activities on target with goals and objectives Coordination among functional areas is a critical issue Coordination among functional areas is a critical issue Open lines of communication is the key Open lines of communication is the key Evaluation and control is both an ending and beginning: Evaluation and control is both an ending and beginning: Occurs after a strategy has been implemented Occurs after a strategy has been implemented Serves as the beginning point for planning in the next cycle Serves as the beginning point for planning in the next cycle

Marketing Plan Detailed formulation of the actions needed to carry out the marketing program Detailed formulation of the actions needed to carry out the marketing program An action document: An action document: The handbook for marketing implementation, evaluation and control The handbook for marketing implementation, evaluation and control Not the same as a business plan Not the same as a business plan Requires a great deal of information from many different sources Requires a great deal of information from many different sources

Marketing Plan A good marketing plan outline is: A good marketing plan outline is: Comprehensive Comprehensive Flexible Flexible Consistent Consistent Logical Logical