06. MARKETING PLAN

THARAKA DIASDirector – Essence BTC

MBA(USA), MBA(Aldersgate),BBA(USA), Dip in Mgt, ACIM(UK),

FAEA(Dip in AEA-UK), FinstSMM(UK), CPM(Asia), MSLIM, PM(Sri-

Lanka)

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“ The overall purpose of marketing planning and its principal focus is the identification and creation of sustainable competitive advantage”

MARKETING PLANNING AND CONTROLLING

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“If you don’t know where y0u’re going, any

road will get you there”

Each of the division of the organization

should determine what its own plan will be

Planning is deciding now what we are going

to do later.

01. THE NATURE AND IMPORTANCE OF PLANING

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Its start at the top of the organization

It provides clearly defined corporate objectives for the

organization as a whole

In turn each of the business function has the

responsibility to deliver the overall corporate

objectives, meeting the corporate mission and vision.

1.1 WHAT IS CORPORATE PLANNING?

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Marketing planning is simply a logical sequence and a

series of activities leading to the setting of objectives

and the formulation of plans to achieve them.

2.WHAT IS MARKETING PLAN

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Where are we now?

Situational analysis

Where do we want to

be?

Marketing objectives

How might we get

there?

Strategies

Which way is best?

Tactics

Action plan

Budgets

How can we ensure

arrival?

Evaluation & control

3. MARKETING PLANNING PROCESS

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Marketing Audit

SWOT Analysis

01. WHERE ARE WE NOW?

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A comprehensive, systematic, independent, and periodic examination of a company’s environment, objectives, strategies and activity to determine problem areas and opportunities and to recommend a plan of action to improve the company’s marketing performance.

1.1. MARKETING AUDIT

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1. Internal Audit of Appraisal

2. External Audit or Appraisal

AN ORGANIZATION HAS TO CONDUCT TWO TYPES OF AUDITS

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Marketing

Financial

Managerial

Production

New product development

Technology

HR

Systems and Control

A) INTERNAL AUDIT –S /W

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PESTEEL factors

Political

Economical

Social

Technological

Ecological

Ethical

Legal

B) EXTERNAL AUDIT

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PORTER’S 5 FORCES COMPETITIVE FRAME

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Who are the major competitors

Their objectives and strategies

Their strengths and weaknesses

Market share

Entry barriers

COMPETITOR ANALYSIS

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Market size growth rates, trends and development

Customer: who are they, their choice criteria, how, when, where do they buy

MARKET ANALYSIS

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Strengths Weakness

Opportunities Threats

1.2. SWOT ANALYSIS

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Marketing Objectives

Specific

Measurable

Aspiration

Relevant

Time frame

3.2. STAGE 2:WHERE DO WE WANT TO BE ?

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STP

Marketing Mix

Growth strategy

Ansoff

3.3. MARKETING STRATEGIES

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Segmentation

Target

Positioning

STP

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Product

Price

Place

Promotion

People

Physical evidence

Process

MARKETING MIX

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ANSOFF MATRIX

Product

Market

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• It is a way which a strategy implemented. Its is more specific and short term

objective . Marketing Tactics

• This is the way overall sales volume planned at the objective stage is forecasted

into different monthsSales Forecast

• Putting all the strategies in to action. Involves staff, timetables and marketing

objectives in timely manor. What has to be done, who will do it and whenAction Plan

• Allocating cost for all the above activities based on the planned strategyMarketing budgeting

3.4. STAGE 4: WHICH WAY IS BEST

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• Evaluation identifies what really

was done while control involves

evaluating the results and talking

corrective actions quickly to

ensure that deviations are

minimized or eliminated

Evaluation

and

control

3.5. STAGE 5: HOW CAN WE ENSURE ARRIVAL?

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Expected performance based on objectives

What do we want to achieve?

Measure actual against expected

performance

What is happening?

Evaluating performance

Why is it happening?

Analyze deviations

What should we do about it?

A) MARKETING CONTROL PROCESS MODEL

Goal setting

Variance analysis

Performance Diagnosis

Corrective Action

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• The marketing objectives

What do we

want to achieve?

• The measurement of actual performance against the

performance standards to identify if there are any variations

or how much of variations exists?

What is

happening?

• To determine the cause of any difference if any between the

actual performance and expected.

Why is it

happening?

• Finally management takes the necessary corrective action to

close the gaps between its actual and expected

performance.

What should we

do about it? 25

Type of Control Purpose of control Approaches

Annual plan control To examine whether the planned results are being achieved

•Market share analysis•Sales to expense ration•Sales analysis•Financial analysis

Profitability control To examine where the organization is making & losing money

Profitability by•Product•Territory•Customer/segment•Trade channel•Analysis of costs & margins

Efficiency control To evaluate & improve the spending efficiency & impact of marketing expenditures

•Sales force •Advertising•Sales promotion•distribution

B) TYPES OF CONTROL IN MARKETING

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Type of control Purpose of control Approaches

Customer satisfaction To evaluate level of customer satisfaction

•Customer surveys •Customer complains•Sales force reports•Customer panels

Strategic control To examine whether the organization is pursuing its best opportunities

•Marketing effectiveness•Marketing audit•Marketing excellence review

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To ensure that the planned targets are achieved

Provide early warnings

Allow early corrective measurement

To be proactive

Not to put the marketing plan in a locker

C)WHY MARKETING CONTROL IS IMPORTANT?

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The marketing plan is the

blue print which indicates

how the organization

plans to achieve it

marketing objectives

4. THE MARKETING PLAN

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Executive or management summary

Current marketing situation

SWOT

Marketing objectives

Marketing strategies

Marketing tactics and action plan

Budgets/ financial implementation

Evaluation and control

contingencies

Appendices

4.1. THE KEY CONTENT OF MARKETING PLAN

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Increasing turbulence, complexity and competitiveness

The speed of technological change

High level of investment required to develop new products

The need for superiors to inform

To obtain financial support from financial institutions

To create competitive advantage

To get support from other divisions

To set objectives and strategies

4.2. THE PURPOSE OF MARKETING PLAN

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It offers a road map

It assist in management control and monitor of implementation of strategy

It informs all participants in the plan of their and functions

It specifies how resources are allocated

It stimulates thinking and marks better use of resources

An awareness of key marketing trends, opportunities, threats and internal strengths and weaknesses

4.3. BENEFITS OF A MARKETING PLAN

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It assists in ensuring that the organization is customer focused

It provide contingency plans

Its proactive rather than reactive

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34diastharaka@gmail.com0773869007