Marketing Plan Handbook: Pearson International Edition
In this summary you can find all the material that needs to be known, with clear schemas and additional notes. At the end of the document there is an additional glossary.
Notes and exam practice of Marketing Planning And Strategic Management Marketing
Summary Marketing Planning and Strategic Management (MPSM)
Summary Marketing Planning and Strategic Management (private specialization).
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Arteveldehogeschool (Artevelde)
Bedrijfsmanagement: Marketing
Strategic Marketing
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Strategic Marketing plan
Tessy Biebouw – B2M01
Docent: Greet Van Quickelberghe
Academiejaar 2020-2021
,Inhoud
Chapter 1: marketing planning: New urgency, new possibilities ............................................................ 6
Developing a marketing plan............................................................................................................. 10
Preparing for marketing planning ..................................................................................................... 14
Summary: .......................................................................................................................................... 17
Chapter 2: analyzing the current situation............................................................................................ 17
Understand the marketing environment .......................................................................................... 17
SWOT analysis ................................................................................................................................... 17
Analyzing the internal environment.................................................................................................. 18
Mission .......................................................................................................................................... 18
Resources ...................................................................................................................................... 18
Offerings ........................................................................................................................................ 18
Previous results ............................................................................................................................. 19
Business relationships ................................................................................................................... 19
Keys to success and warning signs ................................................................................................ 19
Analyzing the external environment ................................................................................................. 19
Political-legal trends ...................................................................................................................... 19
Economic trends ............................................................................................................................ 20
Social-cultural trends..................................................................................................................... 20
Demographics................................................................................................................................ 20
Technological trends ..................................................................................................................... 20
Ecological trends............................................................................................................................ 20
Competitor analysis ....................................................................................................................... 21
Porter’s five forces model ................................................................................................................. 21
Chapter 3 understanding markets and customers ................................................................................ 21
Analyzing market’s today .................................................................................................................. 21
Broad definition of market and needs .......................................................................................... 22
Markets as moving targets ............................................................................................................ 22
Market share as a Vital Sign .......................................................................................................... 23
Analyzing customer needs & behavior .............................................................................................. 23
Considerations for the consumer market ..................................................................................... 23
Planning marketing research............................................................................................................. 24
Secondary research: some cautions .............................................................................................. 25
Primary research ........................................................................................................................... 25
Using marketing research.............................................................................................................. 25
Chapter 4: planning segmenting, targeting and positioning ................................................................. 26
pag. 1
, Segmenting consumer and business markets ................................................................................... 26
Applying segmentation variables to consumer markets ................................................................... 27
Consumers: segmenting by behavior and attitudes...................................................................... 27
Consumers: segmenting by demographic ..................................................................................... 27
Consumers: segmenting by geography ......................................................................................... 27
Consumers: segmenting by psychographics ................................................................................. 27
Applying segmentation variables to business markets ..................................................................... 28
Businesses: segmenting by behaviors and attitudes..................................................................... 28
Businesses: segmenting by demographics .................................................................................... 28
Businesses: segmenting by geography .......................................................................................... 28
Assessing and targeting segments .................................................................................................... 28
Define a coverage strategy ............................................................................................................ 29
Segment personas ......................................................................................................................... 30
Positioning for competitive advantage ............................................................................................. 30
Chapter 5: planning direction, objectives and marketing support ....................................................... 31
Marketing plan direction ................................................................................................................... 31
Determining marketing plan direction .......................................................................................... 31
Options for Marketing plan direction............................................................................................ 31
Marketing plan objectives ................................................................................................................. 33
S.M.A.R.T. Goals defined: .............................................................................................................. 33
Three types of objectives in Marketing plans ............................................................................... 33
Marketing support............................................................................................................................. 35
Customer service ........................................................................................................................... 35
Internal marketing support ........................................................................................................... 36
Marketing mix ................................................................................................................................... 36
Shaping the marketing mix ............................................................................................................ 36
The strategy pyramid..................................................................................................................... 36
Chapter 6: developing product and brand strategy .............................................................................. 37
Product strategy planning ................................................................................................................. 37
Introduction:.................................................................................................................................. 37
Goods, services and other products .............................................................................................. 37
Designing a service ........................................................................................................................ 38
Features and benefits .................................................................................................................... 38
Quality and design ......................................................................................................................... 39
Packaging ....................................................................................................................................... 39
Labeling ......................................................................................................................................... 39
pag. 2
, The product life cycle (PLC) ........................................................................................................... 39
Product development and management .......................................................................................... 40
Product mix and product lines ...................................................................................................... 40
Line extensions & brand extensions.............................................................................................. 41
Planning branding.............................................................................................................................. 41
Branding and positioning .............................................................................................................. 42
The power of brand equity ............................................................................................................ 42
Chapter 7: developing channel and logistics strategy ........................................................................... 42
Planning for the value chain .............................................................................................................. 42
The value chain/supply chain ........................................................................................................ 42
The three flows in the value chain: ............................................................................................... 43
Adding value through the chain .................................................................................................... 43
Services and the value chain: ........................................................................................................ 43
Planning channel strategy ................................................................................................................. 43
Types of channel functions............................................................................................................ 43
Decisions regarding channel functions.......................................................................................... 43
Channel levels................................................................................................................................ 44
Reverse channels ........................................................................................................................... 44
Channel members ......................................................................................................................... 45
Influences on channel strategy ..................................................................................................... 46
Planning for logistics.......................................................................................................................... 46
Logistics decisions ......................................................................................................................... 47
Influences on logistics decisions.................................................................................................... 47
The logistics strategy ..................................................................................................................... 47
Chapter 8: developing pricing strategy ................................................................................................. 48
Understanding value and pricing ...................................................................................................... 48
Unique aspects of pricing .............................................................................................................. 48
Value .............................................................................................................................................. 48
Weighing benefits vs total price .................................................................................................... 48
Different types of pricing............................................................................................................... 48
Customer perception and demand ............................................................................................... 49
Cost-based pricing / value-based pricing ...................................................................................... 49
Pricing objectives............................................................................................................................... 50
Planning pricing decisions ............................................................................................................. 50
Sample of pricing objectives.......................................................................................................... 50
Pricing to meet the firm’s objectives ............................................................................................ 50
pag. 3
, External pricing influences ................................................................................................................ 50
Customers...................................................................................................................................... 50
Competitors ................................................................................................................................... 51
Channel members ......................................................................................................................... 51
Legal, regulatory and ethical concerns.......................................................................................... 51
Ethical concerns............................................................................................................................. 51
Internal pricing influences ................................................................................................................. 52
Break-even example ...................................................................................................................... 52
Average cost/unit .......................................................................................................................... 52
Targeting and positioning strategy................................................................................................ 52
Product strategy ............................................................................................................................ 52
Skim pricing (afroomprijsstrategie) ............................................................................................... 52
Penetration pricing ........................................................................................................................ 53
Pricing for special situation ........................................................................................................... 53
Impact of other marketing mix variables ...................................................................................... 53
Adapting pricing ................................................................................................................................ 53
Chapter 9: developing marketing communications and influence strategy ......................................... 54
Planning to communicate with and influence audiences ................................................................. 54
Customer influence strategies ...................................................................................................... 54
Social media................................................................................................................................... 54
What is viral marketing?................................................................................................................ 54
Word of mouth (WOM) ................................................................................................................. 54
Buzz marketing .............................................................................................................................. 54
Communications strategy.............................................................................................................. 54
Using communications tools to engage ............................................................................................ 57
Using IMC tools.............................................................................................................................. 57
Advertising..................................................................................................................................... 57
Sales promotion ............................................................................................................................ 57
Public relations (PR)....................................................................................................................... 58
Direct marketing ............................................................................................................................ 58
Personal selling .............................................................................................................................. 59
Personal selling decisions .............................................................................................................. 59
The personal selling process.......................................................................................................... 59
Integrated marketing communication .......................................................................................... 59
Chapter 10: planning metrics and implementation control .................................................................. 60
Measuring what matters ................................................................................................................... 60
Integrated marketing: strategic marketing planning
Examen: 7/12/2020 (engels of nederlands, N schrijffouten!)
(fail for 1, retake for all, alleen vanaf 7/20)
Integrated project week: 15-16-17/12/2020 (week voor kerstvakantie)
Philip Kottler: Marketer this age, marketing guru, wrote book first year
Chapters:
1. Marketing Planning: new urgency, new possibilities
2. Analysing the current situation
3. Understanding markets and customers
4. Planning segmentation, targeting and positioning
5. Planning direction, objectives, and marketing support
6. Developing product and brand strategy
7. Developing pricing strategy
8. Developing channel and logistics strategy
9. Developing marketing communications and influence strategy
10. Planning metrics and implementation control
pag. 5
,Chapter 1: marketing planning: New urgency, new possibilities
Prepare yourself for the big picture:
✓ Who are my customers and what value can I offer them now and in the long term?
✓ What sources of information will help me uncover, follow, and anticipate major
developments affecting my customers, my markets and my competitors?
✓ What political, economic, social, technological, legal, ecological and competitive changes are
likely to affect my markets and my customers in the coming years?
✓ What lessons can I learn from existing products, campaigns, media, competitors and other
organizations that will help my marketing plan?
✓ Which stakeholders are most important to the success of my marketing plan and why?
✓ How can I use marketing to make a difference to my customers, my organization and my
stakeholders?
✓ How can I generate new ideas and build on my resources and experience to better plan for
marketing?
Marketing is everywhere
Businesses must fight to catch the customer’s eye
Marketing planning is important
- Marketing aspires to be informative and entertaining, but it can also be inescapable,
irritating or intrusive at times
- Customers have more information, more choices, higher expectations, more power, and
more involvement.
- Stakeholders are looking for companies to make a difference. (stakeholders can be everyone)
- Customers demand transparency
• Be open and honest about their decisions and actions
Get your customers involved in your marketing
- 2 way communication!
Marketing and value
- Marketing is all about creating, communicating, delivering and exchanging offerings that
provide value
- “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” => importance of value
- Received benefits vs perceived total price
e.g: phone €1149 or €149 => it’s about the BRAND!
Providing value through satisfying customers’ needs.
Creating value = satisfying customers’ needs → Marketing is all about creating,
communicating, delivering, and exchanging offerings that provide value.
Marketing = a promise
pag. 6
, Globetrotter flagship store in
Germany
Try out your canoe, tent…
Try it before you buy it
The purpose of marketing planning
Marketing planning: the structured process of determining how to provide value to customers, the
organization and key stakeholders by researching and analyzing the current situation, including
markets and customers; developing and documenting marketing activities to achieve the objectives
Marketing plan: the outcome of the marketing planning, a document covering a particular period
that summarizes what the marketer has learned about the marketplace, what will be accomplished
through marketing and how.
e.g.: Lego, Lego Friends, Lego Harry Potter, Lego Professional (adults), Lego stores, Lego Conferences,
Lego Games…
pag. 7
,Contents of a strategic marketing plan!!:
(remade/bijgeschaafd every 5 to 10 years)
Strategic plan > 1 year (3 to 5) => broad strategies for all its units, divisions and departments
Tactical / business plan = 1 year => financial objectives, all products and services
Operational / marketing plan < 1 year => marketing strategy and implementation
To provide a framework for guiding the company towards its objectives.
A structured process helps you identify, assess and select appropriate marketing opportunities and
strategies.
The success of a marketing plan depends on a complex web of internal and external relationships as
well as on uncontrollable environmental factors such as technological breakthroughs, competitive
moves and economic pressures => regularly re-examined with changes
1. Executive Summary: highlights and objectives (write on the end, when you written
everything else, when the CEO CFO COO CMO… finds this interesting, they read the rest of
the plan; GEEN inleiding! Want management weet wel wat hun bedrijf doet!)
2. Current Marketing Situation: analyzes events and trends
- Internal situation (mission, resources, offerings, previous results, business
relationships)
- External situation (political-legal, economic, social-cultural, technological and
ecological forces)
- Competitive situation (current and emerging/potential competitors, competitive
strategies and advantages)
- Market situation (market definition, market share, customer needs and behavior)
pag. 8
, 3. Objectives and Issues:
- Financial objectives
- Marketing objectives
- Societal objectives
4. Target Market, Customer Analysis and Positioning: segmentation, targeting and
positioning decisions with customers’ and prospects’ needs, wants, behaviors, attitudes,
loyalty and purchasing patterns
5. Marketing Strategy: the strategy for achieving objectives by creating, communicating and
delivering value to the target markets. Also indicates how marketing will affect other
stakeholders
6. Marketing Programs: lays out the programs supporting the marketing strategy
- Product
- Pricing
- Place (channels and distribution)
- Promotion (communications and influence)
- Service
- Internal marketing
7. Financial and Operational Plans: how much money and time do we need?
- Expected revenues and profits
- Projected budgets
- Schedules and responsibilities
- Additional information or resources needed for planning and implementation
8. Metrics and Implementation Control: how will the plan be implemented and evaluated and
shows how and when adjustments will be made.
In other words… :
Timing? Budget? Analysis?
Where are we
now? Who are
we? What is the
Where do we
problem?
want to be?
Problem should
be solved
Implementation + control
pag. 9
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