Marketing Plan Handbook: Pearson International Edition
This document includes all the notes of marketing planning and strategic management. Two books are covered: Fundamentals of Strategy and the Marketing Plan Handbook. The chapters that are covered are 1,4,6,8 and 10 for the marketing plan handbook and chapters 4,6,7,8 of fundamentals and strategy.
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Chapter 1
• Today, consumers have better information
• More choices (unlimited acess), only if you have the right card
• Higher expectations
• Better market access
• More purchasing power
Consumers are exerting more influence in marketing. Consumers also demand more transparency.
The reputation of a brand also counts when it comes to marketing. Companies with a good
reputation will have more customers then companies with a bad reputation.
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering
and exchanging offerings that have value for customers, clients, partners and society at large.
Value is the difference between the perceived benefits a customer receives and the perceived total
price the customer pays.
Marketing planning is the structured process of determining how to provide value to customers, the
organization, and key stakeholder by reasrching and analysinz th current situation including markets
and customers; developing and documenting marketings objectives, srategies and programs; and
implementing, evaluating, and controlling marketing activities to achieve the objectives.
The outcome of that process is the marketing plan.
exam question
1. Study the current situation before charting the organizations marketing course for the
coming year.
2. Analyze markets and customers by researching market-share trends, product demand and
custome characteristics such as buyinh habits, needs, wants, attitudes, behaviors and
satisfaction. Neuromarketing can also be used here. (see book page 11)
3. Select groups within the markets, segments, for marketing attention. Next you target and
then you end with positioning.
4. To formulate strategies for providing value using the basic marketing-mix tool of product,
place, price and promotion, enhanced by serivce, to build stronger customer relationships
and internal marketing to bolster support within the organizaiton.
5. Plan to track progress toward the desired outcomes.
2
, 3 types of cards:
• Debit card
• Charge card, pay it all
• Credit card, only pay the interest
Marketing plan is essential for everyone. The process produces itself through the following 8 steps:
exam question
(See book page 7)
General consideration when developing a market plan:
• Consider how competitiors and other stakeholder may influence the plan. Example puma
ford, an SUV. Considering their competitors, they launched a unique product.
• The planning process usually starts several months before the plan is scheduled to go into
operation. It is always updated, it will always change. It is dynamic. Objectives may change.
• Coordination must occur inside the firm and with outside strategic partners.
For a long term success, marketers need to analyze connections with customers as well a ssuppliers,
channel members, patners, and other key stakeholders.
Primary marketing tools:
The primary tools for marketing, referred to as the market mix are:
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