Marketing plan and strategy

Marketing Strategic Planning and Managment Lectured by Khoa Nguyễn On the balcony Topic Outline Marketing Analysis Marketing Planning Marketing Implementation Marketing Control Managing marketing effort Marketing Anslysis INTERNAL EXTERNAL Marketing Analysis POSITIVE NEGATIVE Marketing Planning The Marketing Plan • Involves deciding on marketing strategies that will help the company attain its overall strategic objectives • A detailed marketing plan is needed for each business, product, or brand Marketing Plan Components Executive summary Marketing situation Threats and opportunities Objective and issues Marketing strategy Action programs Budgets Controls Marketing strategy Action Program Spells out how marketing strategies will be turned into specific action programs: • What will be done? • When will it be done? • Who will it? • How much will it cost? Action programs Budget • Detailed • Precise • Flexible Budget Implementation Implementing the Plan turns marketing plans into marketing actions to accomplish strategic marketing objectives Marketing Control Copyright © 2011 Pearson Education, Inc Publishing as Prentice Hall Control • Marketing control involves evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained • Operating control involves checking ongoing performance against the annual plan and taking corrective action when necessary Its purpose is to ensure that the company achieves the sales, profits, and other goals set out in its annual plan • Strategic control involves looking at whether the company’s basic strategies are well matched to its opportunities Marketing ROI • Return on marketing investment (Marketing ROI) is the net return from a marketing investment divided by the costs of the marketing investment • Marketing ROI provides a measurement of the profits generated by investments in marketing activities Marketing ROI