What is it?
Marketing planning is a road map which consists of strategic and tactical (day-to-day) organisational marketing activities that are required to drive your company forward, both efficiently and profitably. Comprising of evaluating, planning, implementation and control; marketing planning is fundamentally a key business process, covering areas such as;
• Company objectives and marketing’s role in achieving them.
• Target audience descriptions for each segment, the associated USP’s and the insights. that led to those USP’s.
• Movement and management of customers through each of the buying stages throughout the customer lifecycle.
• Management and implementation of the 7Ps.
• Customer Relationship Management.
• Infrastructure requirements including changes to sales practises, database development and understanding of any research required.
When to use it?
Marketing planning is used to;
• Understand the economic and competitive features of a market sector
• Identify target markets
• Identify segments within a target market
• Identify most appropriate strategies
• Commission, understand and act upon Market Research
• Understand competitors, their strategies and likely responses
• Develop new products
What does it achieve?
Well constructed and professional marketing planning will help to clarify the purpose of organisations in terms of; where it currently resides in the minds of the consumer; where it wants to be, how it will be perceived; what does it need to do to get to a suitable position and then evaluate the progress to see if the objectives have been met. Successful Marketing planning achieves;
• Auditing of customers’ brand experience
• Establishing environmental scanning for opportunities and threats
• Understanding of an organisation’s strengths and weaknesses
• Creation of a sustainable competitive advantage
• Understanding where a brand needs to be in the future
• Establishes management information systems to identify progress
Step 1 – Where are we now?
• Marketing audit
• Financial /ratio analysis
• Competitor analysis
• Customer analysis
Step 2 – Where do we want to be?
• Mission (Vision, values and purpose)
Step 3 – How might we get there?
• Direction of growth
• Which markets to compete in
• Which customers to target
• How to position the offering
• Nature of growth
Step 4 – Which methods should we use?
• Marketing Mix
• Promotional activities
• Media mix
• Activity plans, budgets, schedules
Step 5 – How can we ensure arrival?
• Monitoring and Management controls
Contact us for further information, or help with any of your strategic marketing planning