2-1. McGraw-Hill/Irwin Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved. 2 Marketing…

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McGraw-Hill/Irwin Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved.

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Marketing Planning

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Marketing Plan

A marketing plan is a written document containing the

guidelines for the business center’s marketing programs

and allocations over the planning period.

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Time Horizons for Marketing Plans

Time Period

Consumer Products

Industrial Products

Services

1 year 62% 45% 65%3 years 5 5 85 years 15 17 3Long term 4 3 6Indefinite 0 2 2Other 14 28 16

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Hierarchy of Planning

SBU Planning

Annual Marketing (Business) Plan

Corporate Strategic Planning

Group or Sector Planning

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Objectives of a Marketing Plan

1. Define the current business situation.2. Define problems and opportunities facing the

business.3. Establish objectives.4. Define the strategies and programs necessary to

achieve the objectives.

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Objectives of a Marketing Plan cont.

5. Pinpoint responsibility for achieving product objectives.

6. Encourage careful and disciplined thinking.

7. Establish a customer/competitor orientation.

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Frequent Mistakes in the Planning Process

• The speed of the Process• The Amount of Data Collected• Who does the Planning?• The Structure• Length of the Plan

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Frequent Mistakes in the Planning Process (cont)

• Number of Courses of Action Considered• Who Sees the Plan• Not Using the Plan as a Sales Document• Insufficient Senior Management Leadership• Not Tying Compensation to Successful

Planning Efforts• Frequency of Planning

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Marketing Planning SequenceUpdate historical data

Data analysis

Develop objectives, strategies, programs

Develop financial documents

Negotiate final plan

Measure progress toward objectives

Audit

Collect current situation data

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Marketing Plan Summary

I. Executive summaryII. Situation analysis

A. Category/competitor definitionB. Category analysisC. Company and competitor analysisD. Customer analysisE. Planning assumptions

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Marketing Plan Summary cont.

III. ObjectivesIV. Product/brand strategyV. Supporting marketing programsVI. Financial documentsVII. Monitors and controlsVIII. Contingency plans