Lecture fundamentals of marketing - Lecture 4: Developing marketing strategies and plans

LECTURE­4
Developing Marketing
Strategies and Plans

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Topic Outline
How is strategic planning carried out at
different levels of the organization?

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What does a marketing plan include?

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Managing the Marketing Effort

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Measuring and Managing Return on
Marketing Investment

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Planning Marketing
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Partnering to Build Customer
Relationships

Value delivery network is made up of the
company, suppliers, distributors, and
ultimately customers who partner with
each other to improve performance of the
entire system

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Marketing Strategy and
the Marketing Mix

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Marketing Strategy and the
Marketing Mix
Market segmentation is the division of a market
into distinct groups of buyers who have different
needs, characteristics, or behavior and who might
require separate products or marketing mixes
Market segment is a group of consumers who
respond in a similar way to a given set of
marketing efforts

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Marketing Strategy and the
Marketing Mix
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Market Targeting
Market targeting
is the process of evaluating each market
segment’s attractiveness and selecting one or
more segments to enter

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Marketing Strategy and the Marketing
Mix
Market positioning is the arranging for a
product to occupy a clear, distinctive, and
desirable place relative to competing products
in the minds of the target consumer
Whole marketing plan supports the positioning
strategy

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Marketing Strategy and the
Marketing Mix
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Differentiation begins the positioning process
Whole marketing plan supports the positioning
strategy

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Marketing Strategy and the Marketing
Mix
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Developing an Integrated Marketing
Mix

Marketing mix is the set of controllable tactical
marketing tools—product, price, place, and
promotion—that the firm blends to produce the
response it wants in the target market

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Marketing Strategy and the Marketing
Mix
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Developing an Integrated Marketing
Mix

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Managing the Marketing Effort

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Managing the Marketing Effort
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Marketing Analysis – SWOT
Analysis

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What is a Marketing Plan?

A marketing plan is the central instrument for
directing and coordinating the marketing effort.

It operates at a strategic and tactical level.

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Levels of a Marketing Plan
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Strategic
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Target marketing
decisions

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Value proposition

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Analysis of
marketing
opportunities

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Tactical
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Product features

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Promotion

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Merchandising

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Pricing

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Sales channels

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Service
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Marketing Plan Contents

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Executive summary
Table of contents
Situation analysis
Marketing strategy
Financial projections
Implementation controls

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Marketing Plan Contents Details
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Executive Summary
Table Of Contents
Situation Analysis (SWOT Analysis)

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Customers
Competitors
Company
Context

Marketing Strategy
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Financial Projections
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Sales forecast

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Expense Forecast

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Break Even Analysis

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Forecasted Sales Value

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Expected Marketing Cost

Implementation Controls
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Outlines The Controls For
Monitoring & Adjusting

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Spells out The Goals & Budgets

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Contingency Plan

Mission

§ Marketing & Financial Objective
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Evaluating a Marketing Plan

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Is the plan simple?
Is the plan specific?
Is the plan realistic?
Is the plan complete?

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Managing the Marketing
Effort
Marketing Implementation

Implementing
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Turns marketing plans into marketing actions to
accomplish strategic marketing objectives
Addresses who, where, when, how

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Managing the Marketing
Effort
Marketing Department Organization

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Managing the Marketing
Effort
Marketing Control

Controlling
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Evaluating of results

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Taking of corrective action to achieve objectives

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Operating control

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Strategic control

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Measuring and Managing

Return
on
Marketing
Return on Marketing Investment (Marketing
Investment
ROI)
Return on marketing investment
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is net return from a marketing investment
divided by the costs of the marketing
investment.
provides a measurement of the profits
generated by investments in marketing
activities.

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Bibliography
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Principles of Marketing by Philip Kotler & Gary Armstrong
Fifteenth Edition, Published by Prentice Hall
Marketing Management – A South Asian Perspective
by Philip Kotler, Kevin Lane Keller, Abraham Koshy &
Mithileshwar Jha, 13th Edition, Published by Pearson
Education, Inc.
Principles and Practices of Marketing by Jobber, D. 4th
edition, McGraw Hill International.
Principles of Advertising & IMC by Tom Duncan 2nd
Edition, Published by McGraw-Hill Irwin.

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The End

"Life is like a combination lock;
your job is to find the right
numbers, in the right order so
you can have anything you
want."
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