Professional Documents
Culture Documents
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Authors:
Prof. Keegan, Prof. Malcolm
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Mefinition:
½ The application of marketing resources
to achieve marketing objectives.
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ë. Performing a situation analysis
2. Formulating basic assumptions
3. Setting objectives for what is being
sold and to whom
4. Meciding how the objectives are to
be achieved
5. Scheduling and costing out the
actions necessary for implementation
M
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½ Management provides little guidance as to
how the process should be managed.
ƛ To Compromise between what is desirable and
what is practicable
½ Management must be customized to their
particular organization
ƛ Size
ƛ Complexity
ƛ Character and diversity of company operations
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½ me should manage:
Return on
Revenue Profit
investment
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Cost
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ë. To help identify sources of competitive advantage
2. To force an organized approach
3. To develop specificity
4. To ensure consistent relationships
5. To inform everyone in the organization about
priorities
6. To obtain resources needed to implement plans
7. To engage organizational support at all levels,
form the bottom to the top of the organization
8. To set objectives and strategies
9. To gain commitment towards goals
ë. Stepping back form 9. Mifferentiation
the day to day ë . Insight
2. Ideas and thought ëë. Vision
3. Activity/Action ë2. Mefines the business
4. Setting Objectives we are in
and goals ë3. Mefines the business
5. Important decisions we are becoming
and choices ë4. Value
6. Significant ë5. Tradeoffs
commitment of ë6. Objectives and goals
resources
7. Not easily reversible ë7. Strategy Vs. Tactics
8. Involves
choice/tradeoffs
Mefinition:
½ A clear and simple summary of
Most Managers
prefer to sell the
products they find
easiest to sell to
customers who offer
the least line of
resistance.
Strategy describes:
½ The direction a business will pursue and
guides the allocation of resources and effort
½ The business we are in and becoming.
And provides:
½ The logic that integrates the Perspectives of
functional departments and operating units
and points them all in the same direction.
Mefinition:
½ It is a statement of how a brand or
product line will achieve its objectives
½ It Provides decisions and direction
regarding variables such as:
ƛ Segmentation of the market,
ƛ Identification of the target market,
ƛ Positioning,
ƛ Marketing Mix elements and
expenditures.
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ë. Mevelop the strategic marketing plan.
ƥ Scanning the external environment
ƥ Identifying early on the effect this may
have on the company
2. A strategic plan should cover a three-
three-
year period.
ƥ write the one-
one-year plan first and
extrapolate from it.
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A strategic marketing plan should contain the
following:
ë. Executive summary
2. Mission Statement
3. Financial Summary of revenue, expenses and
earnings
4. Marketing audit
5. SmOT analysis
6. Assumption of key determinants
7. Overall marketing objectives and strategies
8. Expected results
9. Alternatives (contingency plan)
ë . Budget
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½ Melegation
ƛ mhen companies delegate marketing
planning to planner, the plan invariably
fails, because planning for line
management cannot be delegated to a
third party.
½ Commitment
ƛ mithout it, those charged with
introducing the planning found that there
was great resistance to planning on the
part of local managers.
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½ Non Mirect Control
These usually take the form of what can be
described as:
ƛ Environment,
ƛ Market,
ƛ Competitive variables
½ Company has Control
ƛ Operational variables
ë. Identification, measurement,
collection, and analysis of all facts
and opinions that affect a companyÎ
companyÎs
problem
2. The application of judgment to
uncertain areas that remain after the
initial analysis
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½ Marketing environment audit
½ Marketing strategy audit
½ Marketing organization audit
½ Marketing system audit
½ Marketing productivity audit
½ Marketing function audit
½ Marketing excellence review
½ Ethical and social responsibility review
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Targeted ½Marketing ½Marketing ½Marketing Issue:
[rowth in ½Mistribution ½Mistribution ½Mistribution ½corporate
Sales and ½Manufacturi ½Manufacturi ½Manufacturi objectives
earnings ng ng ng and
½Financial ½Financial ½Financial
strategies
½Marketing
½Personnel ½Personnel ½Personnel ·
½
ë. The desire level of profitability
2. Business boundaries
ƥ mhat Kinds of products will be sold to what kinds
of market (Marketing)
ƥ mhat Kinds of facilities will be developed
(Production and distribution)
ƥ The size and character of the labor force
(Personnel)
ƥ Funding (Finance)
ƥ Technology to be developed (Research and
development)
3. Other corporate objectives
ƥ Social Responsibility and corporate
ƥ Stock
Stock--market
ƥ Employer image
½ This is one of the most critical
steps in the preparation of a
marketing plan because it is the
easiest step to do carelessly.
½ They should be:
ƛ Key,
ƛ Critical
ƛ and few in Number
ƛ Consistent with relevant known
facts
ƛ mith defensible assumptions
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To determine:
½ mhere the company is now,
½ mhere it wants to go,
½ How to get there
Includes:
½ Advertising Plan
½ Sales Promotion Plan
½ Pricing Plan
½ Mistribution Plan
½ Product Plan
½ Target Market Plan
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