www.themarketingconcept.com © Dr. Stephen Fanning
themarketingconcept [e-book] has 3 sections
how individual organisationsarticulate &
implement the marketing concept
theories & concepts that shape
marketing thought
application of marketing theories
& concepts[aka principles] [aka practices]
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the marketing concept bestsatisfy
bestsatisfy
needs & wants needs & wants
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a market
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marketing
Classic definition
satisfaction
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Self actualisation
Ego needs
Social needs
Safety & security needs
Physiological needs
Cognitive needs
Aesthetic needs
Transcendence needs:
The extended hierarchy of needs
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Needs can be...
Biogenic: needs for the body
Psychogenic: needs for the mind
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Benefits can be...
Utilitarian: benefits that are objective, functional, & measureable
Hedonic: benefits that are subjective, pleasure, experiential, excitement, fantasy.
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needs are different to wants
needs are part of being humanMaslow presents the view that needs can be arranged in a hierarchy
A want is the product that a consumer selects to best satisfy a need. Wants are the direction a consumer takes during the buyer decision process.
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actual self ideal self
the perception a person currently
has about himself or herself
how a person would like to perceive
himself or herself in the future
Maslow stated that when our needs are 80% satisfied we hunt for new needs
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Marketing is about -
Satisfactionwhen a customer’s expectations are exceeded
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Episodic <> Cumulative <> Collective <> Aggregate
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profitable4 exchange relationships4
customer organisation channel partners society
synergistic symbiotic, strategic, & sustainable
Total profits4 Relationships4
the ‘umbrella’ [overarching] concept
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needs are often expressed as objectives
organisations also have needs Organisational needs could also be arranged in a hierarchy
www.themarketingconcept.com © Dr. Stephen Fanning a cultural task-force that looks to the future
needs to be embedded in an organisation’s culture
the world has always been disruptiveThe evolution of marketing: a societal perspective - reveals that
The 4 recurring patterns or quests
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2The industrial revolution lead to 2 new business concepts
new business conceptsthe production concept – the selling concept+
3 business concepts and the business philosophies
a production philosophy
a selling philosophy
a marketing philosophy
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It is likely that an organisation philosophy is an amalgam of business concepts
A marketing audit should explore this topic
In this example we could conclude that the organisation has adopted
the marketing concept & is practicing a marketing philosophy
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An organisation may ‘go to market’ & not be practicing a marketing philosophy.
It is important to remember that
or fully
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Organisation adopts the marketing concept
Designs and develops a unique marketing philosophy
Considers the prevailing situational factors [COMP]
Nurtures an organisational culture
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The right culture does not happen by chance it happens by choiceA marketing philosophy nurtures a culture.
Being customer centric Understanding the customer A commitment to quality & value Honest communication Delivering on promises A commitment to satisfaction Cultivating a sense of mission espirit de corps
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strategic3financial3 communication3
recognise - the marketing concept
craft &communicate - a marketing philosophy
nurture - a marketing culture
situational factors – the COMP considerations
best satisfy2
Summary of section 1
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Consumption CostsValues1
Consumption Qualities
Situationalfactors
Commitment to proceed
Considered set of products
Estimate value of alternatives
cost-benefit-riskanalysis
Recognition of a need
Product selection
Exchange of money may happen in any time-zone
Postpone
Exit
Forming of expectations
Co-produce
iterative
Product performance
[+][-]
Purchase behaviour Post-purchase behaviourProduct delivery321 [searching, estimating, & selecting] [experiencing & assessing] [reflecting & evaluating]
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Product components
Core productExpected product
Augmented product
Potential product
Goods
People
Place
Services
Ideas
Experiences
Product considerations
Brand considerations
The total product – an exploded view
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brand considerations are the foundation
Building the value of the business [brand equity]
The 3rd financial objective
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Exploded view of the circle of satisfaction
CollectivesatisfactionCollective
trust
Collectiveloyalty
Collective impact on the organisation
Brand equity
Collective satisfaction
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Customer satisfaction4
We will discuss 4 types: Episodic satisfaction 1 episode or 1 transaction
Cumulative satisfaction Multiple episodes for 1 customer
Collective satisfaction Multiple episodes for all customers
Aggregate satisfaction Combination of multiple total
products
How brand equity is formed
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Internal quality
Employee satisfaction
Employee retention
External quality
Customer satisfaction
Customer retention
Outcome: a compelling place to work, to do business, to invest
adapted from Schlesinger and Heskett (1991)
start The service profit chain
Customer loyalty
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Repeat purchasing [-c%: +sr: +bv]
Positive WOM [-c%: +sr: +bv]
Communication mix costs [-c%]
Tolerant customers [-c%: +bv]
Lower recovery costs [-c%]
Insulated customers [-c%: +sr]
Reduced considered set [-c%: +sr]
The circle of satisfaction & the financial objectives
-c% = reduce costs +sr = increase sales revenue +bv = build the business value]
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A
Marketshare
Marketshare
Collective satisfaction
Marketshare
A
✔3 marketingfinancial
objectives
✔
✔3 marketingfinancial
objectives
✖
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strategic3financial3 communication3
recognise - the marketing concept
craft &communicate - a marketing philosophy
nurture - a marketing culture
situational factors – the COMP considerations
best satisfy2
Summary of section 1
www.themarketingconcept.com © Dr. Stephen Fanning
[-] [+]expectations
delivered
Purchase behaviour Product delivery Post purchase
Searching, estimating & selecting Reflecting & evaluating
financial3 strategic3 communication3
Marketing objectives3
costs3
risks/qualities8
Values1
situational factors4
[COMP]
The marketing concept – best satisfy2
qualities
value2
costs
expectations
satisfaction
cumulative sat.
trust
loyalty
collective satisfaction
trust & loyalty
exit
1 2 3
need
product selectioncore
expected
augmented
Brand equity
P. considerations
iterative
goods services
experiences
ideas people
place
Experiencing & assessing
potential
B. considerationsCLV
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MarketingplanMarketing
action plans
Corrective actions
Organisation’sphilosophy
IMPLEMENT
ANALYSE
DESIGN
1
Evaluateperformance
Analysedata
Implementaction plans
COLLECT
DEVELOP
Businessplans
Organisation’sobjectives priorities &
budget
Marketing Audit[COMP]
Articulate position
EVALUATE
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Marketing AuditWhere is the organisation at the present?What are the current situational factors? How well does our total product meet the needs of our customers?
Marketing PlanArticulation of desired position and basis of competitionIdentification of market strategiesIdentification of market/revenue goals
Marketing Action PlansIdentification of tacticsIdentification of responsibilities and timeline
Marketing ControlMeasure performance against specificationsTake corrective action where necessary
Clarifying key terms
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Just as an architect would have written specificationsEach component of the business plan would have specific outcomes. Each function agrees that this is the business that they are building.
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This is the most important slide you
will ever see
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Marketing research
the customer, organisation, the market, & the productCollect and analyse
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www.themarketingconcept.com © Dr. Stephen Fanning
The business plan, discipline plans, & the discipline action plans for the previous year are the starting point
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How market research can assist?
Market research can assist in: Uncovering consumer dreams, desires, & demands Designing, developing, delivering new products Conducting a product review Assessing core, expected, & augmented product layers
Positioning & re-positioning a product Assessing competition & market characteristics Assisting with continuous improvement process Measuring operational efficiency & effectiveness
www.themarketingconcept.com © Dr. Stephen Fanning
www.themarketingconcept.com © Dr. Stephen Fanning
Market research reduces risk
Zaltman and Coulter (1995) suggests that up to 80% of all product failures are as a consequence of poor research.
Therefore, market research is a vital management tool We are operating in a dynamic market - increased customer
expectations, greater accountability and shorter product cycles The objective of MR is to provide reliable and accurate data, to
enable managers to make informed decisions. Research quality improves the quality of decisions Although, does not guarantee success
Like all investments must be cost effective outcome focussed
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www.themarketingconcept.com © Dr. Stephen Fanning
2 types of marketing research
1 As needed - [sometimes referred to as Ad hoc research] a) Specific to a particular need at a particular timeb) Measuring changes to situational factors – internal/external
2 Everyday - [some times referred to as routine or systematised] a) Part of an ongoing & regular business monitoring and control
programme [Sales performance metrics]b) Established longitudinal benchmarking data
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www.themarketingconcept.com © Dr. Stephen Fanning
The 5 stages of market research
Ad hoc market research generally follows a 5 stage process:1. Clearly define the research ‘problem’ and objectives.2. Develop an appropriate methodology3. Collection of data4. Interpret data 5. Report findings
as needed
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www.themarketingconcept.com © Dr. Stephen Fanning
Data can be new or existing
Primary data data that is not available from secondary sources and
must be collected for a specific situation Secondary data* data that has been previously collected. Secondary
data falls into two categories: internal external
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www.themarketingconcept.com © Dr. Stephen Fanning
Qualitative V quantitative tools
Qualitative Discover the elements/qualities that are present
Quantitative Measure the frequency that the elements occur
Don’t get hung up on the tools focus on the outcome
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www.themarketingconcept.com © Dr. Stephen Fanning
Software for marketing practitioners [SfMP]
covers a broad spectrum of software
solutions/services
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Marketing practitioners provide a service to the
organisation & liaise with other strategic
planning group members
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Chief FinanceOfficer
The strategic planning group
ChiefInformation
Officer
ChiefMarketing
Officer
Chief Operations
Officer
Articulation of desired market position & basis of competition
Outlines the strategic intent of the organisation
Chief Executive
Officer
Financeplan
Operationalplan
Informationplan
Marketingplan
The business plan
HR
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The strategic planning group comprises the chief executive officer and the senior discipline officers.They will generally meet at the beginning of the planning process and set out the parameters
“the meeting of the minds” Peter Balsarini
The strategic planning group
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www.themarketingconcept.com © Dr. Stephen Fanning
The strategic planning group will often begin the business planning process with a review of the organisation’s philosophy the organisation’s values the statements of purpose.This may result in some degree of realignment
The strategic planning group
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www.themarketingconcept.com © Dr. Stephen Fanning
The marketing audit will be part of a longitudinal study [conducted on a regular basis]: • Quarterly, half yearly, yearlyTherefore, a process will be in place & information will be internal or external secondary data. May require as needed research
The business-marketing planning process
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The 3 stages of the business-marketing planning process: 1. Collect & Analyse relevant
information2. Design & Develop the marketing
plan and action plans3. Implement & Evaluate the
specifications in the action plansWe will refer to this process as CADDIE
The 3 stages of CADDIE
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www.themarketingconcept.com © Dr. Stephen Fanning
Everyday research - making informed decisions
Former MBA student statesAll I do is research. I spend my day doing research. When I review the sales figures or the production forecast figures, I am researching. I am comparing this year with previous years. When I am in a meeting, I am listening to my managers, I am researching. When I am with a customer, I am trying to determine how we can serve them better, improve our products, I am researching.
Before I did this XXXX I thought that market research was something that market researchers did. Then it dawned on me I am a market researcher I gather information, I make conclusions but the difference is I have to make decisions based on my research and the quality of my decisions is dependent on the quality of my research. I am a lot more focussed on quality of information now.
Note: qualitative and quantitative approaches
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Two types of everyday marketing research:1. Strategic research is conducted
as part of the business planning process. This is referred to as conducting a marketing audit
2. Tactical research is conducted to evaluate the performance of the organisation against the objectives specified in the marketing plan & marketing action plans. When necessary take corrective action
Everyday marketing research
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www.themarketingconcept.com © Dr. Stephen Fanning
Strategic marketing research is conducted as part of the business planning process.
This is referred to as conducting a marketing audit & explores the situational factors facing the organisation [COMP]: Customer Organisation Market Products
Everyday marketing research - strategic
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www.themarketingconcept.com © Dr. Stephen Fanning
Everyday marketing research - strategic
the characteristics of the customersCollects and analyse
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The situational factors [COMP] influence the consumer and the organisationa consumer perspective Influences the consumer’s
buyer decision processan organisational perspective Influences the business-
marketing planning process
The marketing audit – COMP factors
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www.themarketingconcept.com © Dr. Stephen Fanning
A customer audit begins with an identification of the customer segments. This information is important as it will help determine: Identify the customer segments and the
characteristics of the segments. Determine the methodology for undertaking the
market segmentation process Which segments does the organisation intend to
target [approach] Which segments does the organisation not
intend to target [avoid]
The marketing audit – customer audit
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www.themarketingconcept.com © Dr. Stephen Fanning
The marketing audit – customer audit
Segmentation variables Geographical: location, city V urban, suburb, city, country,
proximity to business Demographic: age, gender, occupation, income,
disposable income, family life cycle Psychographic: lifestyle and values, aspirational goals Behavioural: usage, loyalty, outcomes sought Price/benefit: perceptions of product quality and value
hence products at different price intervals Cultural: culture influences values and in-turn
consumption activities. Importance varies from product to product
VALS: on the basis of values, attitudes, and lifestyles
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www.themarketingconcept.com © Dr. Stephen Fanning
Segment characteristics Present & likely sales, growth, profitability, lifetime value customer expectations – [quality, value] collective satisfaction product requirements [dreams, desires, demands]
The marketing audit – customer audit
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Segment characteristics Identify income characteristics of segments [ability
& willingness to purchase] Identify preferred payment methods, Communication mediums, Location [in-store & on-line] Buying patterns [frequency] Motivators to enter the buyer decision process
The marketing audit – customer audit
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www.themarketingconcept.com © Dr. Stephen Fanning
Segment characteristics Satisfaction [episodic, cumulative, collective] Retention [NPS] Social media habits Word of mouth and referrals Competition within segment Consumer behaviour Involvement [e.g., family members, friends,
groups, society] Bargaining power of customers
[see Porter’s 5 competitive forces in this chapter
The marketing audit – customer audit
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socialprinttelevisionbillboardssponsorshipemailmobiledirect mailwebsitePOPbrochuresSEO
Audit of communication media to best reach segments
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Segment conclusionsAfter considering the organisation’s capabilities & constraints Organise the customer segments into a hierarchy
of attractiveness
The marketing audit – customer audit
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www.themarketingconcept.com © Dr. Stephen Fanning
Everyday marketing research - strategic
the characteristics of the organisationCollect and analyse
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Identifying the organisation’s objectives Past performance & current objectives: 3 financial objectives 3 strategic objectives 3 communication objectives
The marketing audit – organisation audit
Identify performance gaps
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Current capabilities and constraints Key success factors, organisational
competencies, culture, patents, technological skills, processes, employee performance, relative costs, marketing channel effectiveness, barriers to exit a market
The marketing audit – organisation audit
Identify performance gaps
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Revenue analysis: Size, growth, pricing, strategies, total sales and
margins by product, life cycle, market position, market-share by segment, cost of sales, shareholder value analysis
The marketing audit – organisation audit
Identify performance gaps
Identify performance gaps
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Brand analysis Customer relationship analysis, brand strength
[uniqueness, relevance], brand stature [esteem, knowledge], brand equity [value as an asset], brand awareness, brand associations
The marketing audit – organisation audit
Identify performance gaps
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Everyday marketing research - strategic
the characteristics of the marketCollect and analyse
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Characteristics of the market Financial [size, profitability, growth, market
patterns, potential, profitability, life cycle issues] Competencies [Strategic imperatives, Key
Success Factors] B2B & B2C communication channels Structure of market channels [distribution] Emerging trends and developments
The marketing audit – market audit
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Characteristics of the market Past and present objectives: Current capabilities and constraints Revenue analysis: Brand analysis Potential competitors [new entrants] Competitor market power The types of market competition Models of market competition Macro external factors [PESTELE]
The marketing audit – market audit
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www.themarketingconcept.com © Dr. Stephen Fanning
Competitor market power Competitive nature and rivalry of the industry Threat of potential entrants [entry-exit barriers] Threat of substitute products Bargaining power of buyers [influence of
consumers] Bargaining power of suppliers
The marketing audit – market audit
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The types of market competition Brand competition Product competition Generic competition Total budget competition
The marketing audit – market audit
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Macro external factors PESTELE Political Economic Sociocultural Technology Environmental Legal Ethical
The marketing audit – market audit
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www.themarketingconcept.com © Dr. Stephen Fanning
Everyday marketing research - strategic
the characteristics of the productCollect and analyse
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Product information would include: Product considerations
The marketing audit – product audit
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www.themarketingconcept.com © Dr. Stephen Fanning
Product information would include: Product sales Total sales X product Total sales X territory Sales by [hour/day/week/month/year/ or other
suitable unit of measure e.g., weather] Number of transactions Average sell price Margins X product
The marketing audit – product audit
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www.themarketingconcept.com © Dr. Stephen Fanning
Product information would include: Product inventory [e.g., value of inventory on hand – usage
rates]
Product adoption & life cycle considerations Strategy, product line – mix, positioning, uniqueness,
value proposition, augmentation, involvement, contact, product components, decision type, recipient[s], category, classification, awareness
Threat of substitute products
The marketing audit – product audit
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www.themarketingconcept.com © Dr. Stephen Fanning
The information from the marketing audit is then analysed to determine: The market attractiveness, & The ability of the organisation to
compete [in the market] This information would be included
in the Marketing Audit Report
The business-marketing planning process
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Marketing* Audit Report
+ the market attractiveness & ability to competeReport on the organizational performance & the situational factors
ReportMarketing Audit
* The other disciplines would also report
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The strategic planning group Although the report will be in detail,
the Chief XXXX Officers will often present the information in a SWOT framework Strengths Weaknesses Opportunities Threats
The business-marketing planning process
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Discipline reports + SWOT summary presentation
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www.themarketingconcept.com © Dr. Stephen Fanning
Information from the reports & the SWOT summary presentations will be
discussed by the strategic planning group
The business-marketing planning process
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business-marketing planning processinformation > strategy > tactics
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Michelangelo is a lesson in strategy
Best satisfy the customer – Best satisfy the organisation
Do everything required to achieve the goal
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The next step would be an iterative process where the strategic planning group & the discipline groups craft the business plan and the various discipline plans
The business-marketing planning process
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www.themarketingconcept.com © Dr. Stephen Fanning
The strategic planning group need to consider the Historical COMP factor Recent COMP factors Then set the organisation’sstrategic directions to manage Future COMP factors
Strategic decision-making
Given that marketing is revenue generator of the organisation
Historical COMP
Recent COMP
Future COMP
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Articulation of desired market position & basis of competition
Strategic decision-making
Given that marketing is revenue generator of the organisation
Customer decisions
Organisation decisions
Market decisions
Product decisions
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unique product value proposition
Selecting customers means identifying which markets to enter
& how to best satisfy
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unique product value proposition
* also referred to as differentiation
Organisations need to design, develop, & deliver a product that is distinct, discernable* & desirable & deliver the dreams, desires, & demands of their selected customers
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Organisations have 2 strategic options
when crafting a UPVP
a higher price with appropriate
product augmentation
a low price with minimal
product augmentation
Adapted from Porter
1 2
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Segments-of-market strategy
Product-market strategy
Whole-of-market strategy
Segment-of-market strategy
Type of consumer demand
Homogeneous demand Heterogeneous demand
Minimal product augmentation
Situational factors [COMP]
Appropriate product augmentation
One product, one message, one price Many products, many messages, many prices
Product-market strategy
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The strategic planning group Synthesise the information from the
various discipline reports Finance Operations Information Marketing
The business-marketing planning process
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www.themarketingconcept.com © Dr. Stephen Fanning
The business plan - structure Executive summary The statement of purpose The situational analysis The organisational objectives The discipline plans
The business-marketing planning process
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Design & develop marketing planThe marketing plan The executive summary The mission or vision statement The organisational objectives quantitative qualitative
Situational analysis Executive summaries of the
various action plans Who what where when which how
The business-marketing planning process
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The business-marketing planning process
Articulation of desired market position & basis of competition Which customers to serve What products to compete with How to compete Where to compete Who to compete against
The allocation of resources
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The business-marketing planning process
Articulation of desired market position & basis of competition The product
uniqueness/augmentation/superior value The compelling reason to purchase The most attractive [target] market[s] The anticipated market size The anticipated revenue and return The likely competitors Allocation of resources to achieve marketing
objectives Product protection from copying Best methods of communicating with internal
and external customers
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Design & develop marketing plan The strategic marketing objectives of
the organisation The strategies and the tactics
needed to achieve the marketing objectives of the organisation.
The marketing planning process
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Selection of appropriate strategiesOrganisations distribute the products through one of three strategies Whole-of-market approach Segments-of-the market approach Segment-of-market approach
The marketing planning process
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Whole-of-market approach • If one product is offered to the entire
market. Market segments are ignored and the emphasis is on minimising costs. Many organisations that adopt a production philosophy practice a whole-of-market approach – this approach can also be a sound for organisations that practice a marketing philosophy. A whole-of-market approach can be practiced if most customers have similar requirements and therefore high volume and high market share can be achieved
The marketing planning process
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Segment-of-market approach Where an organisation offers one product
for a niche market segment and has no desire to develop a product outside their specific and selected market. Unlike whole-of-market approach, which requires considerable resources, a segment-of-market approach can be practiced by organisations of varying size and resources.
The marketing planning process
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Segments-of-the market approach Some organisations serve more than one
segment; with a segments-of-market approach organisations produce multiple products to appeal to the requirements of multiple customer segments [e.g., Toyota, adopt this approach, offering a wide range of products under both the Toyota and Lexus brands].
Mass customisation: is when organisations provide the customer with the opportunity to customise the product to a limited degree [luxury car manufacturers choosing the leather]. Another option is micromarketing [e.g., an architect].
The marketing planning process
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Segmentation variables Geographical: location, city V urban, suburb,
city, country, proximity to business Demographic: age, gender, occupation,
income, disposable income, family life cycle Psychographic: lifestyle and values,
aspirational goals Behavioural: usage, loyalty, outcomes sought Price/benefit: perceptions of product quality
and value hence products at different price intervals
Cultural: culture influences values and in-turn consumption activities. Importance varies from product to product
VALS: on the basis of values, attitudes, and lifestyles
The marketing planning process
www.themarketingconcept.com © Dr. Stephen Fanning
Product decisions The product decisions will vary due
to the nature of the business; however, a comprehensive marketing plan is likely to detail the total product, including the
Product considerations Product layers Product components.
The marketing planning process
Product brand strategy
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Product considerations this section of the marketing plan
will identify the key product considerations that need to be communicated.
The marketing planning process
Product brand strategy
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Product layers will communicate the core needs
that the product must address, what consumer expectations, how the product is augmented, and mayaddress long-term intentions for this product [potential product].
The marketing planning process
Product brand strategy
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Product components How the product is constructed the qualities that are embedded in each component The goods component
The material and functional properties The services component
Facilitating and supporting activities The ideas component
Branding, pricing, communication The experience components
The feelings and emotional connections The people component
Retaining, recovering, education, The place component
Ambient conditions, artefacts, signage, symbols, space, function, and location
The marketing planning process
Product brand strategy
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Brand considerations This section will outline how the
product[s] is/are aligned with the overall branding objectives of the organisation.
And include an overview of the brands and how the brands are positioned in relationship to competitor brands.
The marketing planning process
Product brand strategy
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Blue Ocean Thinking is part of the new product planning process.The idea is for the strategic marketing group to explore if a new approach could provide a Blue Ocean advantageOne that make all segments obselete
The marketing planning process
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Design Thinking is a template for designing & developing a new product + complements Blue Ocean Thinking
The business-marketing planning process
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Design & Develop the action plans Who does what - when - how A detailed action plan for each: product strategic business unit major function
Allocation of resources to implement each plan
The marketing planning processAction plans
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Two types of marketing action plansAs needed marketing action plans relate to specific projects, sometimes
referred to ad hoc projects as the action plan are only undertaken when a particular situation requires attention.
Everyday marketing action plans relate to actions and outcomes that happen
on an ongoing basis, sometimes referred to as ‘marketing metrics’ – sales, market share, communication, advertising, promotions, public relations, social media, service quality, retention, etc.
The marketing planning processAction plans
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Marketing action plan may include: Sales Market share Communication Advertising Promotions Public relations Social media Service quality Retention, etc.
The marketing planning processAction plans
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The structure of the action plans Title: The title should identify the activity and
parameters of the action plan Organisation philosophy: This should be
included to provide guidance to employees at all levels
Objectives: In broad terms provide a statement of purpose; an overview of what the action plans hopes to accomplish. Describe the specific strategic marketing objectives that the action plan addresses
Financial objectives: This would detail the increase in sales revenue, how it reduces costs as a percentage of sales, build the value of the business
The marketing planning processAction plans
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The structure of the action plans [cont] Processes: the processes should be detailed
and include a flow chart[s] of how the actions will be implemented and the sequence of events. The process for reporting of deviations should also be outlined.
Roles and responsibilities: identifies who is responsible for implementing the action plan [this could be a person, an organisation, a team, and may involve channel parties] and who is ultimately accountable for reviewing performance and advising the CMO of any deviations from design.
The marketing planning process
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The structure of the action plans [cont] Timeline: identifies the various milestones that
need to be achieved and in what time period. It is common that a marketing action plan has a shorter life than the marketing plan or business plan therefore timeframes – who does what and by when.
Budget: itemises how much has been budgeted for the implementation of the action plan. This should include a breakdown of costs.
The marketing planning processAction plans
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The structure of the action plans [cont] Collection and analysis: what information is
needed post implementation. The how, when, and with what frequency of collection and analysis. Who will analyse the information and who is responsible for distribution of information. Often a weekly report will be presented to the CMO for synthesis and communicating with the strategic planning group.
Evaluation of sales performance metrics Volume, $ value, month, YTD, previous year,
margins Associated costs, Av. sell price, prices exceptions, Market share, territory, department, Salesperson performance, conversion rates, Lead times, Customer satisfaction by product/salesperson
The marketing planning processAction plans
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bestsatisfy
bestsatisfy to best satisfy2
The focus of the marketing concept is
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MarketingplanMarketing
action plans
Corrective actions
Organisation’sphilosophy
IMPLEMENT
ANALYSE
DESIGN
1
Evaluateperformance
Analysedata
Implementaction plans
COLLECT
DEVELOP
Businessplans
Organisation’sobjectives priorities &
budget
Marketing Audit[COMP]
Articulate position
EVALUATE