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MARKETING PLANS
Professor Hugh Wilson and Dr Emma Macdonald
Istanbul Technical University
Air Transportation Management, M.Sc. Program
Airline Marketing
Module 5-7
28th January 2014
Marketing Plans
Professor Hugh Wilson
Professor of Strategic Marketing, Cranfield School of Management
Dr Emma MacdonaldSenior Lecturer, Cranfield School of Management
Research Director, Cranfield Customer Management Forum
About Hugh Wilson
Hugh Wilson MA (Oxon) DipCompSci (Cantab) PhDProfessor of Strategic Marketing and Director of the Customer Management ForumHugh Wilson is Professor of Strategic Marketing and Director of the Customer Management Forum atCranfield School of Management, and an influential author, speaker and consultant in marketing and IT.Hugh is listed in the Chartered Institute of Marketing`s global `Guru Gallery` of `the 50 leadingmarketing thinkers alive today` (www.shapetheagenda.com). Hugh has a mathematics degree fromOxford University, a postgraduate computer science degree from Cambridge University and a prize-winning PhD in marketing planning from Cranfield. He has extensive industrial experience, includingtwenty years in the IT industry working for IBM, Logica, Artificial Intelligence Ltd and NCR in marketing,consulting and business development. He now spends much of his time working with companies such asIBM, Lloyds TSB, BT, Taylor Woodrow and Skandia on marketing planning, e-commerce, CRM and multi-channel marketing, as well as teaching on these topics in Cranfield. His books include `The NewMarketing` (with Malcolm McDonald, 2002), ‘The Multichannel Challenge’ (with Rod Street and LindsayBruce, 2008) and the bestselling ‘Marketing Plans’, 7th edition (with Malcolm McDonald, 2011). He wasrecently honoured by the DTI as one of the "Internet Decade" list of the hundred individuals who havehad most influence over the development of e-commerce, according to an NOP poll. He writes regularlyfor academic and practitioner journals, including a recent article for Harvard Business Review with DrEmma Macdonald.
A value-based
approach to marketing
plans
Marketing is a process for:
Defining markets and understanding customer needs
Identifying customer groups (segments) with shared needs
Coordinating value propositions to meet these needs
Bringing the voice of the customer into the business
Monitoring the value actually delivered
A marketing plan documents the conclusions reached.
What could your business unit improve in its marketing
planning?
Your marketing plans:
Thought starters
Can you list your key target markets? (in order of priority)
Can you describe (quantitatively and qualitatively) the value
that is required by each of your key target markets?
In each of these key target markets, can you describe how
your organisation creates this value?
Do the relevant senior people in your organisation
understand and support the above three points?
Are all the relevant functions in your company organised in a
way that is supportive of delivering the value required by the
customer?
© Cranfield University 2013 5
The contents of a strategic marketing
plan (t+3) (less than 20 pages)
Mission statement
Financial summary
Market overview
SWOT analyses
Portfolio summary
Assumptions
Objectives and strategies
Budget
© Cranfield University 2013 6
Inter Tech’s 5 year performance
© Cranfield University 2013 7
Performance (£million) Base Year 1 2 3 4 5
Sales Revenue
- Cost of goods sold
£254
135
£293
152
£318
167
£387
201
£431
224
£454
236
Gross Contribution
- Manufacturing overhead
- Marketing & Sales
- Research & Development
£119
48
18
22
£141
58
23
23
£151
63
24
23
£186
82
26
25
£207
90
27
24
£218
95
28
24
Net Profit £16 £22 £26 £37 £50 £55
Return on Sales (%) 6.3% 7.5% 8.2% 9.6% 11.6% 12.1%
Assets
Assets (% of sales)
£141
56%
£162
55%
£167
53%
£194
50%
£205
48%
£206
45%
Return on Assets (%) 11.3% 13.5% 15.6% 19.1% 24.4% 26.7%
Performance (£million) Base Year 1 2 3 4 5
Market Growth 18.3% 23.4% 17.6% 34.4% 24.0% 17.9%
InterTech’s 5 Year Market-Based Performance
Customer Retention (%)
New Customers (%)
% Dissatisfied Customers
88.2%
11.7%
13.6%
87.1%
12.9%
14.3%
85.0%
14.9%
16.1%
82.2%
24.1%
17.3%
80.9%
22.5%
18.9%
80.0%
29.2%
19.6%
InterTech Sales Growth (%)
Market Share(%)
12.8%
20.3%
17.4%
19.1%
11.2%
18.4%
27.1%
17.1%
16.5%
16.3%
10.9%
14.9%
Relative Product Quality
Relative Service Quality
Relative New Product Sales
+10%
+0%
+8%
+8%
+0%
+8%
+5%
-20%
+7%
+3%
-3%
+5%
+1%
-5%
+1%
0%
-8%
-4%
Why market growth rates are
important
© Cranfield University 2013 8
Percentage of market
represented by segment
Percentage of all profits in
total market produced by
segment
Ratio of profit produced by
segment to weight of
segment in total population
Defection rate
Total
Market
Segment
1
Segment
2
Segment
3
Segment
4
Segment
5
Segment
6
27.1
14.7
0.54
15%
18.8
21.8
1.16
28%
18.8
28.5
1.52
30%
11.0
23.0
2.09
35%
9.5
4.9
0.52
17%
14.8
7.1
0.48
20%
100.0
100.0
1.00
23%
Measurement of segment
profitability
© Cranfield University 2013 9
Assessing market/segment
attractiveness
Assessing market/segment
attractiveness
Compare the attractiveness of different product-
markets as an aid to prioritisation
Objective:
© Cranfield University 2013 11
Market
Attractiveness
KEY
Present
position
Forecast
position in
3 years
High Low
Low
High
?
ResearchExec
MBA
C.S.
G.M.Ps
Distance
Education/
CMR
MANDAS
Directors
Seminars
C.S.
Full-Time
MBA
Our competitive position /
business strength
© Cranfield University 2013 12
Product-market table
Products:
Markets:
1: 2: 3: 4: 5: 6: 7:
1:
2:
3:
4:
5:
6:
7:
1. Select a business unit, or part of the business, for which you wish to develop a partial plan.
Business unit: ___________________
2. Along the top of the table below, list the principal products, product groups or services sold by the business unit, ignoring
unimportant ones.
3. Down the left of the table, list the principal markets, or market segments, you sell into, ignoring unimportant ones
4. Now choose 4 to 6 product-markets (cells) to concentrate on during the course. For each, estimate your current revenue
in the box.
13
Boston matrix
© Cranfield University 2013 14
Share relative to competitors
HIGH
LOW
Mar
ket
gro
wth
LOWHIGH
C
DF
B
E
A
1.0Higher Lower
Directional policy matrix:
truck tyresM
AR
KE
T/
SE
GM
EN
T A
TT
RA
CT
IVE
NE
SS
RELATIVE BUSINESS STRENGTH
Higher
Lower
Higher Lower
CURRENT POSITION
Ancillary operations
Construction & mining
Military
Business
Large haulage
© Cranfield University 2013 15
Market attractiveness
evaluation
1.
2.
3.
4.
5.
6.
Market Size (£ millions)
Volume Growth (Units)
Competitive Intensity
Industry Profitability
Vulnerability
Cyclicality
8 - 10
>£250
>10%
Low
> 15%
Low
Low
4 - 7
£51 - 250
5 - 9%
Medium
10 - 15%
Medium
Medium
3 - 0
< £50
< 5%
High
< 10%
High
High
Factor Scoring Criteria
Score
5
10
6
8
6
2.5
Total
Weighting
15
25
10
25
15
10
Score x weight
0.75
2.5
0.6
2.0
0.9
0.25
7.1
© Cranfield University 2013 16
Scoring MAFs - example
© Cranfield University 2013 17
AttractivenessWeight
(%)
Product-market A
Product-market B
Product-market C
ScoreScore x weight
ScoreScore x weight
ScoreScore x weight
Growth 25 6 1.5 5 1.25 10 2.5
Profitability 25 9 2.25 8 2.0 7 1.75
Size 15 6 0.9 5 0.75 8 1.2
Vulnerability 15 5 0.75 6 0.9 6 0.9
Competition 10 8 0.8 8 0.8 4 0.4
Cyclicality 10 2.5 0.25 3 0.3 2.5 0.25
Total 100 6.45 6.0 7.0
Prioritising using MAFs
MAF Bar Chart
ReceptToNewTech
VanillaSale
RevenuePerCust
MktGrowth
ExtentOfNeed
0
1
2
3
4
5
6
7
8
PP
-AV
/Co
ntM
gr
PP
-Ba
nkin
g
PP
-Exe
c M
ail
PP
-Go
ve
rnm
en
t
PP
-In
su
rBro
ke
PP
-IS
P/P
ort
al
PP
-Le
ga
l
PP
-Me
dic
al
PP
-Po
stO
ffE
tc
PP
-Tru
stIn
vM
a
© Cranfield University 2013 18
Market Attractiveness Factors
AttractivenessWeight
(%)
Product-market: Product-market: Product-market:
ScoreScore x
weightScore
Score x
weightScore
Score x
weight
Total 100%
19
Process for evaluating
market attractiveness
© Cranfield University 2013 20
1. At the corporate level, decide what the MAFs are (usually 3 to 5
factors)
2. Give each MAF an importance weighting to the company (total weights
should sum to 100%)
3. For each MAF, define the scoring criteria (what constitutes low
attractiveness, medium attractiveness, and high attractiveness)
4. Using the scoring criteria, score each product-market on a scale of 0 to
10 against each factor (where 0 is extremely low and 10 is extremely
high attractiveness)
5. Multiply the importance weights by the attractiveness scores to
produce a weighted attractiveness score
6. Evaluate the total weighted scores – do they seem to make sense,
intuitively?
Hints for MAF analysis
Keep it simple – ideally 6 factors or less
Keep factors independent of each other
Typically size, growth and profitability
represented
Clear the factors and weights with the board at an
early stage
Use the results to decide which business areas to
concentrate on
© Cranfield University 2013 21
Summary
An MAFs (Market Attractiveness Factors) analysis forms an impartial way of prioritising effort
Use the results to decide which business areas to concentrate on
© Cranfield University 2013 22
Assessing busines strengths:
critical success factor analysis
Assessing business
strengths
To understand how to compare the competitive
position of different product-markets using Critical
Success Factors
To understand how to construct a Directional Policy
Matrix as a basis for resource allocation
Objectives:
© Cranfield University 2013 24
Boston matrix
© Cranfield University 2013 25
Share relative to competitors
HIGH
LOW
Ma
rke
t g
row
thLOWHIGH
C
DF
B
E
A
1.0Higher Lower
Directional policy matrix:
truck tyresM
AR
KE
T/
SE
GM
EN
T A
TT
RA
CT
IVE
NE
SS
RELATIVE BUSINESS STRENGTH
Higher
Lower
Higher Lower
CURRENT POSITION
Ancillary operations
Construction & mining
Military
Business
Large haulage
© Cranfield University 2013 26
© Cranfield University 2013
SWOT analysis using critical
success factors
1
2
3
4
5
You Comp A Comp B Comp C Comp D
Total 100
1
2
3
4
5
1. SEGMENT DESCRIPTION
It should be a specific part of
the business and should be
very important to the
organisation
2. CRITICAL SUCCESS
FACTORS
In other words, how do
customers choose?
3. WEIGHTING
(How important
is each of these
CSFs? Score
out of 100)
1
2
3
4
5
THREATS
5. OPPORTUNITIES / THREATS
What are the few things outside your
direct control that have had, and will
have, an impact on this part of your
business?
6. KEY ISSUES THAT NEED
TO BE ADDRESSED
What are the really key issues
from the SWOT that need to
be addressed?
OP
PO
RT
UN
ITIE
S
4. STRENGTHS / WEAKNESSES
ANALYSIS
How would your customers score you and
each of your main competitors out of 10 on
each of the CSFs?
Multiply the score by the weight.
27
Critical success factors -
tyre company
© Cranfield University 2013 28
Remember your VIU analysis
Good night out with friends
Soul-food
Vicarious pride
A sense of belonging
Value-in-use
Food & drink
Performer engagement
Chances to mingle
People like me
Concert quality
Travel ease
Experience surround
Service
Product
Post concert bar
© Cranfield University 2013 29
The role of relationship
varies: Five types of key
account
© Cranfield University 2013 30
Exploratory
Basic
Cooperative
Interdependent
Integrated
Strategic
intent of
seller
Strategic intent of buyer
CSF analysis
© Cranfield University 2013 31
1. Identify the Critical Success Factors (CSFs) that influence the
customers’ decision. There are usually not more than 6 really
important factors.
2. Assign an importance weighting to each CSF so that the weightings
for each segment totals 100%
3. Identify the key competitors for each segment and score performance
of your company and each key competitor on a scale of 1 to 10,
where 1 = very poor and 10 = excellent. Limit to a few competitors
(between 1 and 3).
4. Multiply the weights by the scores and add up the weighted score for
each competitor.
5. Assess your relative strength by dividing your score by the best
competitor’s score.
6. Identify the key issues from the analysis.
7. Note you can change your relative business strength by focusing on
improving your strength on the criteria that matter most to customers.
Hints on CSF analysis
© Cranfield University 2013 32
1. Critical success factors are in the eye of the customer:
perception is reality!
2. External validation best
Market research ideal
B2B: you can fill in with a customer
Consider involving channel partners
If necessary, use internal cross-functional team of people who are
close to the customers in that segment (eg sales, service, market
research, R&D…)
3. Validate the results against current financials
4. Different segments are likely to have different CSFs
..or at most, the same CSFs but with different weightings
If they’re identical, either you need to do your market research, or
your segmentation is wrong!
C.S.F.’s
Score/weightingAbove the diagonal line: Score out of 10Below the diagonal line: Multiply score x weight
Weights
You Compet. A Compet B Compet C
1.
2.
3,
4.
5.
6.
Totals 100
Critical Success Factors
Product-market: __________________
Relative Business Strength: ____ (Our score minus best competitor score)
Critical Success Factors
© Cranfield University 2013 33
Critical Success Factors:
example
© Cranfield University 2013 34
C.S.F.’s
Score/weight
Score out of 10 - multiplying these by the weightWeights
You Compet. A Compet B Compet C
1. Thought leadership 50
2. Impact on practice
throughput 25
3. Patient satisfaction 15
4. Impact on practice budget 10
5.
6.
Totals 100
63.0 4.0
8
82.0 1.8
7
71.1 1.5
10
60.6 0.5
5
6.7 7.8
Relative Business Strength: -1.1
Directional policy matrix:
truck tyresM
AR
KE
T/
SE
GM
EN
T A
TT
RA
CT
IVE
NE
SS
RELATIVE BUSINESS STRENGTH
Higher
Lower
Higher Lower
CURRENT POSITION
Ancillary operations
Construction & mining
Military
Business
Large haulage
© Cranfield University 2013 35
Directional Policy Matrix
High
Low
+2 +1 0 -1 -2Low
Relative business strength
Market
attractiveness
High
© Cranfield University 2013 36
About the DPM
Vertical axis = attractiveness of market segments, constructed from the Market Attractiveness Factors for the business. These should be generic, and allow comparison of existing and potential business.
Horizontal axis = business strengths against the Critical Success Factors for each segment, relative to the competition.
Relative business strengths should be measured against best competitor (not average) and from the point of view of the customer.
Size of circles should be proportional to amount of business (current revenue); you can add a pie slice indicating profit/contribution.
Information-rich matrix allows the application of useful policy guidelines for marketing strategies
© Cranfield University 2013 37
© Cranfield University 2013
Summary
Critical Success Factors provide a customer-focused way of assessing the strengths and weaknesses of our offering
Obtain a customer view where possible –otherwise use a team of those who are close to the customer
Validate the results against current financials
Our weighted average score, compared with the best competitor score, is plotted on the horizontal axis of the Directional Policy Matrix
38
Marketing objectives and
strategies
Objectives, strategies and
tactics
OBJECTIVES Defined and measurable aims,
eg market share/revenue/profit by
product-market.
STRATEGIES Say how objectives will be achieved.
Can be driven from critical success
factor analysis.
TACTICS Short term programmes with timings
/ actions. Say who will do what
and by when.
© Cranfield University 2013 40
Strategies suggested by portfolio
matrix analysis
MA
RK
ET
SE
GM
EN
T A
TT
RA
CT
IVE
NE
SS
RELATIVE BUSINESS STRENGTH
INVEST FOR GROWTH:
•Gain / Defend leadership
•Accept moderate short-term profits and
negative cash flow
•Geographic expansion, product line
expansion, product differentiation
•Aggressive marketing posture - selling,
advertising, pricing, sales promotion, service
levels etc.
Higher
Lower
Higher Lower
MAINTAIN / MANAGE FOR SUSTAINED
EARNINGS:
•Manage key product lines, prune less
successful product lines
•Differentiate products to maintain share
•Limit marketing expenditure
•Stabilize prices except where a temporary
aggressive stance is needed
OPPORTUNISTIC:
•Move to left if resources are available
•Keep a low profile until resources are
available
•Divest to a buyer able to exploit the
opportunity
SELECTIVE / MANAGE FOR PROFIT &
CASH:
•Acknowledge low growth
•Identify / exploit growth segments
•Emphasise quality, avoid commodity
•Improve productivity
•Prune product line aggressively, maximise
cash flow, minimise marketing expenditure,
maintain or raise prices at expense of volume.
© Cranfield University 2013 41
Directional policy matrix:
tyre company (top level)M
AR
KE
T A
TT
RA
CT
IVE
NE
SS
RELATIVE BUSINESS STRENGTH
Higher
Lower
Higher Lower
CURRENT POSITION
Car
LCV
Car
2 wheel
Agricultural
Earthmover
Truck
© Cranfield University 201342
Directional Policy Matrix:
Car tyresM
AR
KE
T A
TT
RA
CT
IVE
NE
SS
RELATIVE BUSINESS STRENGTH
Higher
Lower
Higher Lower
CURRENT POSITION
Price
Ignorant
Rational Buyer
Technical
© Cranfield University 2013 43
‘Rational buyers’ – critical
success factors
© Cranfield University 201344
Marketing options -
Ansoff matrix
Market
Penetration
Product
Development
Market
ExtensionDiversification
Present New
Present
New
PRODUCT GROUPS
CUSTOMERS/
SEGMENTS
© Cranfield University 2013 45
Relative market
attractiveness
KEY
Present
position
Forecast
position in
3 years
High Low
Low
High
?
Product X
Exec MSc
Research
Open
programmes
Tailored
programmes
FT MSc
MBA
Relative
business strength
Introducing new product-
markets
© Cranfield University 201346
Types of objective
Profit improvement
Productivity improvement Sales growth
Product
development
Market
development
Market
penetration
Change
asset base
Existing
assets
Cost
reduction
Improve
asset
utilisation
(experience
and
efficiency)
Increase
price /
reduce
discounts
Improve
product /
sales mix
(margins)
New
markets
Existing
markets
Convert
non-
users
New
segments
Take
competitors’
customers
Increase
usage
Growth focusCash and margin focus
Investment
•Acquisition
• Joint ventures
• etc
Divestment
• Redevelopment of
capital resources
Capital Utilisation focus
© Cranfield University 201347
Objectives
© Cranfield University 2013 48
For each product-market, set an objective in terms of revenue, market share and/or
profit by the end of the planning period. Put this below, or annotate the Directional
Policy Matrix with objectives.
C.S.F.’s
Score/weighting
Score out of 10 - multiplying these by the weightWeights
You Compet. A Compet B Compet C
1. Price 50
2. Features 25
3. Service 15
4. Reliability 10
5.
6.
Totals 100
63.0 4.0
8
82.0 1.8
7
7 9
1.1 1.31.2
8
60.6 0.5
5
6.7 6.9 7.5
Relative Business Strength: - 0.8 (current) -0.6 (strategy)
Strategies: revisit C.S.F.
scores
© Cranfield University 201349
Product-market: _____________________________
CSF: ________________ Scores: _______ (current) _________ (objective)
Description
of strategy
Actions to
achieve
strategy
Responsibility
Approximate cost
Strategy details
© Cranfield University 2013 50
© Cranfield University 2013
Barriers to effective planning
Lack of top management support & involvement
Lack of cross-functional involvement
Inadequate planning procedures
Lack of creativity & innovation
Lack of follow-through to implementation
Structure not market-focused
Culture stifling idea generation & openness
51
Appendix: organising the planning
process
February, March & April
Scottish Widows: process
overview
Position
Assessment
Initial
Prioritisatio
n
Business
Model
Defender
Strategic
Marketing
Plan
Detailed
Activities
Plans
• Segmentation
• Evaluate Market
Attractiveness
• Evaluate
Competitive
Position
• Articulate
Findings
(Directional
Policy Matrix)
• Identify options
and valuing these
for each of the
areas of Strategic
Focus
• Recommendations
for overarching
prioritise and
areas of reduced
focus
• Identify New
Markets &
evaluate
opportunities
• Produce Initial
Business
Projection
• Iterations to
Determine
Optimal
Strategic Mix
• Prioritisation of
all segments
• Validation of
strategy across
segments
• Company level
financial plan
• Recommended
Strategy for
Approval by
Executive
Executive Board Review Points 29/1, 8/4 and 29/4
May-JuneJanuary
Strategic
Options
Initial
Prioritisation
• Identify initial
proposals for
areas of strategic
focus
• Identify areas of
reduced focus
• Detailed Activity
Plans to deliver the
agreed Strategy
• Link with new M&D
Operating Model and
Effective Systems
Infrastructure
• Immediate priorities
progress to detailed
study
© Cranfield University 2013 53
Scottish Widows: segmentation
• Product * channel used as a proxy for true customer segments
Product:
Channel:
Customer:
© Cranfield University 201354
© Cranfield University 2013
Scottish Widows: MAFsFactors Description Weight Score
Market EconomicProfit Pool
a) Market EconomicProfit Margin
Market wide Economic Profit Pools avoiding distortion due to shape of existingScottish Widows profitability
Factor in future profit trends from 2003 to 2007
70% 10 – High1 – Low
b) Market Size & Growth
Market size in 2003 (APE) Allowance for market growth/decline up to 2007
Competitive Intensity Effort required to improve “share of voice” and hence growth market share
Ease with which new entrants can enter market
Different for IFA , DSF & Network
15% 10 – Low1 – High
Regulatory Risk(not include inEconomic ProfitAssesment)
Risk assessment of following items:
Regulatory:- regulatory risk, price caps etc
Market Change:- pensions replaced by ISAs, life bonds replaced with mutualfunds etc
15% 10 – Low1 – High
Total 100%
55
© Cranfield University 2013
Scottish Widows: teams
Protection
Savings/Investment
Individual Pensions
Retirement Income
Corporate Pensions
• Cross divisional teams set up to review each of the core markets
• Representatives from each channel, marketing, offer development, technical, client
services etc
• Ensured buy-in to resulting strategy
• External input to teams to provide additional challenge and alternative thinking
Separate Teams Covering
….
56
© Cranfield University 2013
Top Priorities:1. Product X in Network - up selling protection
products along side LTSB mortgage offers 2. IFA Product Y - very large market with significant
scope to grow our market share if enhanced rates were offered to all IFAs
3. Product A in Network - superior LTSB customer insight makes this an attractive market
• Core Competencies: underlying all the above is a need to develop our core skills as a protection player (risk management, utilisation of customer insight etc)
Scottish Widows: first
board presentation
Protection
Reduced Focus:
1. Product B - market volumes and hence profit pool continue to decline.
Directional Policy Matrix
Key Points:• Network Product X slight weakness
• IFA Product Y rates are currently “out of the market”
• IFA Product Z, we aren’t punching our weight in terms of market share
• Network Product A offer is poor against basic business customer need
Mark
et A
ttractiv
eness
SW Competitive Strength
Low
High
Low High
57
© Cranfield University 2013
2003 2004 2005 2006 2007
Option A1
Option A2
Option B
Option C
Scottish Widows: valuing
options
ProtectionEconomic Profit
Option A1: Current Strategy without Price Adjustment
Option A2: Current Strategy with 2004 Price
Adjustment
Option B: New Offer
Option C: Fully Integrated Offer
General: LTSB branding
Volumes
Recommendation: Option C
• Justification ….
• …..
• …..
• ….
• …..
2001 2002 2003 2004 2005 2006 2007
Actual/Plan
Option A1
Option A2
Option B
Option C
58
© Cranfield University 2013
Need to invest up-front effort in mapping out process and methodology
Use existing information sources where possible avoiding subjective judgements
Sufficient time for assessment of market attractiveness and competitive strength - drives prioritisation which is the foundation of the strategy
Don’t be a slave to the process, continually balancing further analysis vsavailable time
Cross functional teams key to ensure end customer understanding and buy-in to strategy
Scottish Widows: Learning
Points
59
© Cranfield University 2013
Some key decisions
Scottish Widows Your organisation
Top level sponsorship Managing director
Driver Marketing director
Core team Marketer + accountant + junior
analyst
Cross-functional workshops Teams of 8 for each product area
from each channel, market
research, product marketing
etc
Top level involvement Board presentations of current
DPM, draft strategies and
final strategies
Basis of segmentation Product-channel combination
External input Process facilitator, channel
representatives, industry
expert60