Insert company logo Strategic Marketing Plan for The XYZ product line January 1 2004 –– December 31 2006 Prepared by: Date:
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Insert company logo
Strategic Marketing Plan
for
The XYZ product line
January 1 2004 –– December 31 2006 Prepared by: Date:
Executive summary
2
Contents Executive summary 2Introduction 4
Situation analysis 5Business definition and scope 5External environment –– remote environment 7 Economic forces Socio – cultural forces Political – legal forces Technological forces Natural environment forces External environment –– near environment 12 Market review Competitive review Distribution channels and buyers (intermediary customers) End user customers Supply Critical success factors 17 Summary of opportunities Summary of threats Situation analysis –– Internal capabilities 18 Non – marketing capabilities Marketing capabilities –– Management Marketing capabilities –– Marketing strategies and performance Problems and opportunities statement 21
Marketing objectives and higher level marketing strategies 22
Marketing mix strategies 23
Budget 25
Implementation plan 26
Evaluation and control processes 27
Appendix 1: Worksheet for developing marketing objectives and higher–– level marketing strategies
28
3
Introduction
4
SITUATION ANALYSIS Business definition and scope
Mission statement(s) Product definition
At the industry level (total of all product categories):
At each product category level
Product categories targeted by our organisation and our products competing in those categories
Product category Competitors’ products
5
Competitors and their products competing in these product categories:
Competitors Competing products
The market/customers (end users) for the product categories targeted by our organisation
6
Scope
7
External environment –– remote environment
Economic forces Scenario
Implications
Opportunities Rating*
Threats Rating*
The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
8
Socio – cultural forces Scenario
Implications Opportunities Rating
* Threats Rating
*
The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
9
Political or legal forces Scenario
Implications Opportunities Rating
* Threats Rating
*
The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
10
Technological forces Scenario
Implications Opportunities Rating
* Threats Rating
* •
•
The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
11
Natural environment forces Scenario
Implications Opportunities Rating
* Threats Rating
* •
•
*The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
12
External environment –– near environment
Market review Description
Implications Opportunities Rating
* Threats Rating
* •
•
The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
13
Competitive review Description
Implications Opportunities Rating
* Threats Rating
* •
•
The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
14
Distribution channels and buyers (intermediary customers) Description
Implications Opportunities Rating
* Threats Rating
* •
•
The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
15
End – user customers Description
Implications Opportunities Rating
* Threats Rating
* •
•
The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
16
Supply Description
Implications Opportunities Rating
* Threats Rating
* •
•
* The rating is based on a double – digit 5 – point scale for the degree of significance and for probability of occurrence. For the degree of significance 5 = extremely significant, 4 = quite to highly significant, 3 = significant, 2 = reasonably significant, and 1 = not very significant. For probability of occurrence 5 = extremely likely, 4 = highly likely, 3 = quite likely, 2 = moderate, and 1 = low probability.
17
Critical success factors (CSFs)
18
Summary of opportunities Significance of opportunity High Low
High
Probability
of
occurrence
Low
Summary of threats Significance of threat High Low
High
Probability
of
occurrence
Low
19
Situation analysis –– Internal capabilities Non – marketing capabilities (Financial position, management & leadership, HRM, R&D, operations — production capabilities and supply, inter – functional coordination & responsiveness and competitive position)
Review
Implications Strengths Rating Weaknesses Rating
•
•
Note The rating is based on single digit 5 – point scale degree of significance: ‘extremely significant’ (5), ‘quite to highly significant’ (4), ‘significant’ (3), ‘reasonably significant’ (2) and ‘not very significant’ (1).
20
Marketing capabilities –– Management (Marketing organisation, market intelligence, marketing planning and marketing control process)
Review
Implications Strengths Rating Weaknesses Rating
•
•
Note The rating is based on single digit 5 – point scale degree of significance: ‘extremely significant’ (5), ‘quite to highly significant’ (4), ‘significant’ (3), ‘reasonably significant’ (2) and ‘not very significant’ (1).
21
Marketing capabilities –– Marketing strategies and performance (Marketing strategies and marketing performance)
Review
Implications Strengths Rating Weaknesses Rating
•
•
Note The rating is based on single digit 5 – point scale degree of significance: ‘extremely significant’ (5), ‘quite to highly significant’ (4), ‘significant’ (3), ‘reasonably significant’ (2) and ‘not very significant’ (1).
22
Problems and opportunities statement 1 The business unit’s capabilities in relation to critical success factors
CSF Our capabilities • • • • • • • • 2 Opportunities for the business unit to exploit with existing capabilities 3 Opportunities for the business unit to exploit with improved capabilities 4 Threats that must be addressed
23
Marketing objectives and higher – level marketing strategies
Marketing objectives Year 1 Year 2 Year 3
Revenue Objectives
$ $ $
Gross profit margin
% % %
Net profit margin
% % %
Product – market strategies Existing products in existing markets (market penetration) Existing products in new markets (market development) New products in existing markets (NPD) New products in new market segments (related diversification)
Total
______________ ______________ ______________ ______________ ______________
______________ ______________ ______________ ______________ ______________
______________ ______________ ______________ ______________ ______________
Rationale
24
Marketing mix strategies Summary Market segment 1 Market segment 2 Market segment 3
Segment description
Segment description
Segment description
Products/brands serving this segment
Products/brands serving this segment
Products/brands serving this segment
Product/Brand positioning
Brand positioning
Brand positioning
Product strategy
Product strategy
Product strategy
Pricing strategy
Pricing strategy
Pricing strategy
Distribution strategy
Distribution strategy
Distribution strategy
IMC strategy*
IMC strategy*
IMC strategy*
25
Marketing mix
strategies for segment
* Integrated marketing communication (IMC) strategies include advertising, sales promotion, sales force, marketing PR, database marketing and event marketing
Segment description
Products/brands servicing this segment
Product/brand positioning
Proposed marketing mix strategies
26
Budget
27
Implementation plan
What Who When
28
Evaluation and control processes What is to be measured?
How it is to be measured?
Data source When it is to be measured?
29
Appendix 1: Worksheet for developing marketing objectives and
higher – level marketing strategies Strategic gap analysis
At end of planning periods Year 1 Year 2 Year 3
Corporate revenue objectives _______ _______ _______ Projected revenue from current strategies: _______ _______ _______ Revenue gap: ______ ______ ______\
Competitive position Marketing objectives
PLC [___________________] __________________________
BCG [___________________] __________________________
GE/McKinsey [___________________] __________________________
Porter CA strategy [___________________] __________________________
Summary of current competitive position Describe our current competitive position
30
What should our competitive position be in 3 years time?
What are the strategic implications in terms of our existing and potential new products and markets? That is, how will we grow the business? Estimated revenue from existing products in existing markets (market penetration) Market size (Value): Current size: $________________ Market projections Year 1 Year 2 Year 3 ____________ ____________ ____________ Current market share: ________ Projected market share Year 1 Year 2 Year 3 (via new strategies)
____________ ____________ ____________ Estimated value of existing products in existing markets: (Market projection x Market share) Year 1 Year 2 Year 3
____________ ____________ ____________
Estimated potential revenue from existing products in new markets (market development)* Year 1 Year 2 Year 3
____________ ____________ ____________ * Identify the specific market development opportunities and the time frame when these initiatives could come on stream
31
Estimated potential revenue from new products in existing markets (new product development)* Year 1 Year 2 Year 3
____________ ____________ ____________ * Identify the specific NPD opportunities and the time frame when these initiatives could come on stream
Estimated potential revenue from new products in new market segments (related diversification)* Year 1 Year 2 Year 3
____________ ____________ ____________ * Identify the specific NPD opportunities and the time frame when these initiatives could come on stream
32
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