MGT-519 STRATEGIC MARKETING

AAMER SIDDIQI

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LECTURE 10

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RE-CAP

• Ansoff’s Matrix

• The 5 M’s

• SWOT-Analysis

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IMPLEMENTATION, ANALYSIS, CONTROL & EVALUATION

• Marketing control is the process of monitoring the marketing plan – as they proceed and – then taking action to adjust the plans through changes in the

marketing mix where necessary • Objective states where you want to be • The plan itself sets out the preferred route destination• Control keeps the process on the right route • What alternative routes are available if original becomes

blocked

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• Control involves: - – measurement – evaluation and – monitoring

• Resources are scarce and costly so it is important to control marketing plans

• Control involves setting standards. • In management variance analysis is used to compare actual

progress against the standards• Where there is a significant variation from the standard it is

reported for further investigation and corrective action

IMPLEMENTATION, ANALYSIS, CONTROL & EVALUATION (CONT’D)

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• This process is no different in marketing than it is in accounting

• There are many approaches to control; here are a few common ones:

• Market share analysis

IMPLEMENTATION, ANALYSIS, CONTROL & EVALUATION (CONT’D)

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• Sales analysis.• Quality controls.• Budgets.• Ratio analysis.• Marketing research.• Marketing information systems (MkIS).• Feedback from customer’s satisfaction surveys.• Cash flow statements.• Customer Relationship Management (CRM) systems.• Sales per thousand customers, per factory, by segment.• Location of buyers and potential buyers.• Activities of competitors to aspects of your plan.• Distributor support.• Performance of any promotional activities.• Market reaction/acceptance to pricing polices.• Service levels.

IMPLEMENTATION, ANALYSIS, CONTROL & EVALUATION (CONT’D)

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OBJECTIVES SETTING• The forecasts of market and sales will be the guidelines

to determine the – objectives– marketing strategy and – Programme

• An example of a specific statements are: decrease the cost of the sales force as a percentage of sales, improve advertising awareness by 5% amongst the target age 18-25 or improving company image by 2% in the general public.

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• These statements have to be – quantified and – a time horizon has to be set

• SMART objectives– Specific– Measurable– Attainable– Realistic– Timebound

OBJECTIVES SETTING (CONT’D)

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RESEARCH AND DESIGNING OF STRATEGIES• After the objectives have been approved the process of

determining target markets is initiated

• Serving the total market is often impossible

• The STP process fits in the strategic planning process

• STP will be discussed in later sessions

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STRATEGIC MARKETING PROGRAMME• The last step of the strategic marketing planning process is

the – formulation of a strategic marketing plan– budget for each target market,

• Both have to be approved by the organisation’s board of directors

• Specific formulation of the marketing mix is undertaken• Concepts and specific techniques, will work equally well

whether they are directed at goods or services

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• In particular, developing a marketing strategy is much the same for goods and services, in that it involves – selecting target markets and – formulating a marketing mix.

• Theodore Levitt suggested that– Instead of talking of 'goods' and of 'services', – Better to talk of 'tangibles' and 'intangibles'".

STRATEGIC MARKETING PROGRAMME (CONT’D)

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• Marketing a physical product is often more concerned with – intangible aspects (frequently the `product service‘ elements of the

total package) than – with its physical sales after service is very important in service sector

properties

• Marketing tactics will be developed besides the action programmes, detailing

• what are to be done, • when • by whom • at what cost and • over what period of time

STRATEGIC MARKETING PROGRAMME (CONT’D)

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• When the objectives have been set, the marketing managers have to refine the strategic marketing plan– will have a 5-10 year timeframe

• The annual marketing plan – has a one year timeframe

• Turn it over to the operational marketers to implement

STRATEGIC MARKETING PROGRAMME (CONT’D)

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SUMMARY

• Ansoff’s Matrix• The 5 M’s• SWOT-Analysis• Implementation, Analysis, Control & Evaluation• Objectives setting• Research and designing of strategies• Strategic marketing programme

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THANKYOU

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