mktg mgmt process final

8/13/2019 Mktg Mgmt Process Final

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The Business Plan

Consumer Needs

The Firms Purpose:

What the firm is going to do

The Firms Objective:

How the firm is going to accomplish its purpose

The Marketing Plan

Establish the marketing mix

Analyze the current market situation, the

opportunities and issues, the implementation,

finance, and the control

The Values


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What is Strategic Planning?

The objectives and strategies established at

the top level provide the context for planning

in each of the divisions and departments bydivisional and departmental managers


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The Strategic Planning Process


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The Marketing Management Process

The Marketing Management Process can be

defined as the process of planning and

executing the conception, pricing, promotion,and distribution of goods, services, and ideas

to create exchanges with target groups that

satisfy customer and organizationalobjectives.


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Marketingsrole in cross functional strategic plan


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Strategic planning is a top-management

responsibility

All strategic planning has marketing

implications

Marketing objectives and strategies must bederived from the strategic plan

Planning done in all functional areas of theorganization should be derived from strategic

plan


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Strategic planning and marketing planning


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Situation analysis

The cooperative environment

The competitive environmentThe economic environment

The social environment

The political environmentThe legal environment


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Marketing planning

Establishing marketing objectives

Selecting target marketDeveloping marketing mix


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Implementation and control of marketing plan

Implementing the marketing plan involves putting

the plan into action and performing marketingtasks according to the predefined schedule.

Controlling the marketing plan involves three

basic steps

The results of the implemented marketing plan are

measured

These results are compared with objectives

Decisions are made on whether the plan is achieving

objectives.


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Marketing information systems and marketing

research

Throughout the marketing management process,current, reliable, and valid information is needed to

make effective marketing decisions


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Strategic Marketing Management

Strategic marketing management is concerned with how we will

create value for the customer

Asks two main questions

What is the organizations main activity at a

particular time?Cus tom er Value

What are its primary goals and how will these be

achieved?how will thisvaluebe del ivered


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The Strategic-Planning, Implementation,

and Control Process


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The Marketing Plan

A written document that acts as a guidebook of

marketing activities for the marketing manager


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Why is marketing planning

necessary? Systematic futuristic thinking by management

better co-ordination of company efforts

development of better performance standards forcontrol

sharpening of objectives and policies

better prepare for sudden new developments managers have a vivid sense of participation


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Criticisms of marketing planning

Formal plans can be quickly overtaken by

events

Elements of the plan my be kept secret for no

reason

gulf between senior managers and

implementing managers

the plan needs a sub-scheme of actions


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Objectives of the marketing plan

Acts as a roadmap

assist in management control and monitoring the

implementation of strategy

informs new participants in the plan of their roleand function

to obtain resources for implementation

to stimulate thinking and make better use ofresources


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Assignment of responsibilities, tasks and timing

Awareness of problems, opportunities andthreats

Essential marketing information may have been

missing

if implementation is not carefully controlled by

managers, the plan is worthless!


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CONTENTS of MARKETING PLANBusiness Mission Statement

Objectives

Situation Analysis (SWOT)

Marketing Strategy

Target Market Strategy

Marketing Mix Positioning

Product

Promotion

Price

Place Distribution People

Process

Implementation, Evaluation and Control


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The Marketing Process

BusinessMission

Statement

Objectives

Situationor SWOTAnalysis

Implementation

Evaluation, Control

Target MarketStrategy

Marketing Strategy

Product

Promotion

Place/Distribution

Price

Marketing Mix


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Organising Service Marketing Planning

What is the specific type of service business?

Who are the customers? How can they be identified?What benefits are they seeking?

How can the business be defended from competitors? How can competitive advantage and more effective

cost efficient operations be achieved?

What efforts must be used to develop and test new

product service offerings? What role can be assigned to planning and research?


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Analysing Marketing opportunities

To identify target markets & to determine thechanging needs and their bases

What specific needs can be satisfied ,

attributes of service being sought,identification of needs not being met rightnow

Internal environment Immediate external environment

Uncontrollable external environment


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Selecting target market

Process of identifying and evaluating

marketing opportunities gives rise to many

new ideas

Opportunities must be studied in relevance to

company resources

Segmentation and targeting

positioning


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Segmentation

Demographic

Socio-economic

Geographic Psychographic

Benefits based

Usage based


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Targeting

Profitability ,viability, Accessibility, Size ofsegment

Undifferentiated marketing

Differentiated marketing

Concentrated marketing

Niche marketing

Positioning


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Service marketing mix

Service product

Price

Promotion Place

People

Process

Physical evidence


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Managing and Controlling Marketing

Effort

Mobilisation of resources is essential forimplementation

Organisational framework esp for services as

there is interdependence between marketing,operations and human resources (servicetrinity)

Performance control Profitability control

Strategic control


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Interrelation of activities in service

Customer loyalty drives profitability and growth

Customer satisfaction drives customer loyalty

Value drives customer satisfaction

Employee productivity drives value

Employee loyalty drives productivity

Employee satisfaction drives loyalty

Internal quality drives employee satisfaction Top management leadership underlies the chain

of success


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Factors

Influencing

CompanysMarketing

Strategy

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