Mktg Mgmt Process Final
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Transcript of Mktg Mgmt Process Final
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The Business Plan
Consumer Needs
The Firms Purpose:
What the firm is going to do
The Firms Objective:
How the firm is going to accomplish its purpose
The Marketing Plan
Establish the marketing mix
Analyze the current market situation, the
opportunities and issues, the implementation,
finance, and the control
The Values
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What is Strategic Planning?
The objectives and strategies established at
the top level provide the context for planning
in each of the divisions and departments bydivisional and departmental managers
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The Strategic Planning Process
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The Marketing Management Process
The Marketing Management Process can be
defined as the process of planning and
executing the conception, pricing, promotion,and distribution of goods, services, and ideas
to create exchanges with target groups that
satisfy customer and organizationalobjectives.
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The Marketing Management Process
Marketingsrole in cross functional strategic plan
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The Marketing Management Process
Strategic planning is a top-management
responsibility
All strategic planning has marketing
implications
Marketing objectives and strategies must bederived from the strategic plan
Planning done in all functional areas of theorganization should be derived from strategic
plan
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The Marketing Management Process
Strategic planning and marketing planning
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The Marketing Management Process
Situation analysis
The cooperative environment
The competitive environmentThe economic environment
The social environment
The political environmentThe legal environment
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The Marketing Management Process
Marketing planning
Establishing marketing objectives
Selecting target marketDeveloping marketing mix
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The Marketing Management Process
Implementation and control of marketing plan
Implementing the marketing plan involves putting
the plan into action and performing marketingtasks according to the predefined schedule.
Controlling the marketing plan involves three
basic steps
The results of the implemented marketing plan are
measured
These results are compared with objectives
Decisions are made on whether the plan is achieving
objectives.
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The Marketing Management Process
Marketing information systems and marketing
research
Throughout the marketing management process,current, reliable, and valid information is needed to
make effective marketing decisions
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Strategic Marketing Management
Strategic marketing management is concerned with how we will
create value for the customer
Asks two main questions
What is the organizations main activity at a
particular time?Cus tom er Value
What are its primary goals and how will these be
achieved?how will thisvaluebe del ivered
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The Strategic-Planning, Implementation,
and Control Process
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The Marketing Plan
A written document that acts as a guidebook of
marketing activities for the marketing manager
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Why is marketing planning
necessary? Systematic futuristic thinking by management
better co-ordination of company efforts
development of better performance standards forcontrol
sharpening of objectives and policies
better prepare for sudden new developments managers have a vivid sense of participation
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Criticisms of marketing planning
Formal plans can be quickly overtaken by
events
Elements of the plan my be kept secret for no
reason
gulf between senior managers and
implementing managers
the plan needs a sub-scheme of actions
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Objectives of the marketing plan
Acts as a roadmap
assist in management control and monitoring the
implementation of strategy
informs new participants in the plan of their roleand function
to obtain resources for implementation
to stimulate thinking and make better use ofresources
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Assignment of responsibilities, tasks and timing
Awareness of problems, opportunities andthreats
Essential marketing information may have been
missing
if implementation is not carefully controlled by
managers, the plan is worthless!
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CONTENTS of MARKETING PLANBusiness Mission Statement
Objectives
Situation Analysis (SWOT)
Marketing Strategy
Target Market Strategy
Marketing Mix Positioning
Product
Promotion
Price
Place Distribution People
Process
Implementation, Evaluation and Control
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The Marketing Process
BusinessMission
Statement
Objectives
Situationor SWOTAnalysis
Implementation
Evaluation, Control
Target MarketStrategy
Marketing Strategy
Product
Promotion
Place/Distribution
Price
Marketing Mix
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Organising Service Marketing Planning
What is the specific type of service business?
Who are the customers? How can they be identified?What benefits are they seeking?
How can the business be defended from competitors? How can competitive advantage and more effective
cost efficient operations be achieved?
What efforts must be used to develop and test new
product service offerings? What role can be assigned to planning and research?
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Analysing Marketing opportunities
To identify target markets & to determine thechanging needs and their bases
What specific needs can be satisfied ,
attributes of service being sought,identification of needs not being met rightnow
Internal environment Immediate external environment
Uncontrollable external environment
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Selecting target market
Process of identifying and evaluating
marketing opportunities gives rise to many
new ideas
Opportunities must be studied in relevance to
company resources
Segmentation and targeting
positioning
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Segmentation
Demographic
Socio-economic
Geographic Psychographic
Benefits based
Usage based
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Targeting
Profitability ,viability, Accessibility, Size ofsegment
Undifferentiated marketing
Differentiated marketing
Concentrated marketing
Niche marketing
Positioning
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Service marketing mix
Service product
Price
Promotion Place
People
Process
Physical evidence
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Managing and Controlling Marketing
Effort
Mobilisation of resources is essential forimplementation
Organisational framework esp for services as
there is interdependence between marketing,operations and human resources (servicetrinity)
Performance control Profitability control
Strategic control
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Interrelation of activities in service
Customer loyalty drives profitability and growth
Customer satisfaction drives customer loyalty
Value drives customer satisfaction
Employee productivity drives value
Employee loyalty drives productivity
Employee satisfaction drives loyalty
Internal quality drives employee satisfaction Top management leadership underlies the chain
of success
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Factors
Influencing
CompanysMarketing
Strategy